hussin, what do u think of gbp/chf? will it close the gap by tomorrow? or still have some space to go south ?
on 4 hour charts we see a bullish engulfing candle, but this a 4 hour, maybe this will form a daily hammer, lets see...
- #2,701
- Sep 1, 2008 12:09pm Sep 1, 2008 12:09pm
- Joined Oct 2007 | Status: Trader | 3,461 Posts
on 4 hour charts we see a bullish engulfing candle, but this a 4 hour, maybe this will form a daily hammer, lets see...
- #2,702
- Sep 1, 2008 12:17pm Sep 1, 2008 12:17pm
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
- #2,707
- Sep 1, 2008 2:46pm Sep 1, 2008 2:46pm
- Joined Oct 2007 | Status: Trader | 3,461 Posts
peaches,what do you think of GJ
would it close the gap b4 going down, so is it logical to go long now
because there is a thin market (holiday in US). And we have seen hours of consolidation in the past before the new drop.
All jen crosses have been very bearish in the last weeks, and we have big fundamental yen news, where the asian market is able to react in a few hours (in which way ever, it`s unclear).
http://uk.news.yahoo.com/rtrs/200809...s-39349ed.html
gopher and eur/gbp shows me the pound is strenghtening, but I`am not convinced, that it is strengthening against the yen.
If geppy makes a new higher high on the 1 hour chart (~196) there might be a temporary reverse.
agressive traders may enter long, conservative traders wait
- #2,710
- Sep 1, 2008 3:33pm Sep 1, 2008 3:33pm
- Joined Oct 2007 | Status: Trader | 3,461 Posts
I have had a bit reading about gaps, and there are some news
about this (at least for me):
a true gap - for example a downward gap, like GU - means the high
of todays candle is not allowed to touch the low from fridays candle.
There has to be a real price vacuum.
the gap itself most time work as a resistance (thats pretty new for me)
In an optimal morning or evening star pattern, the third day candle gives
conformation of trend change, and reaches best 50 % in to the body
of the first candle (see example).
The bigger the gab, the more stronger the reversal.
Interesting.
about this (at least for me):
a true gap - for example a downward gap, like GU - means the high
of todays candle is not allowed to touch the low from fridays candle.
There has to be a real price vacuum.
the gap itself most time work as a resistance (thats pretty new for me)
In an optimal morning or evening star pattern, the third day candle gives
conformation of trend change, and reaches best 50 % in to the body
of the first candle (see example).
The bigger the gab, the more stronger the reversal.
Interesting.
- #2,712
- Sep 1, 2008 4:24pm Sep 1, 2008 4:24pm
- Joined Oct 2007 | Status: Trader | 3,461 Posts
good night everybody.
I have a buy limit order on the GU at 1,808 target 1,85 and geppy
~ 196 target 200, just in case hussin is right again. If they are filled there might something to be won, if not, nothing is lost
I have a buy limit order on the GU at 1,808 target 1,85 and geppy
~ 196 target 200, just in case hussin is right again. If they are filled there might something to be won, if not, nothing is lost
hm....I`am not convinced, that selloff GU is over...
On the one 1 h chart we see on every low a kind of piercing line pattern
formed from 2 or 3 candles, then up, then a time of consolidation sideways, and then bump down again.
I`am small long, but I should have waited for 1,81 forming a new higher high.
Anyways I had the trend direction correct (sell stop @ 1.7995) but my timing was wrong, price reversed to around 1.8058 before heading further down, so I took a loss...
