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Daily candle chart

  • #3,341
  • Oct 9, 2008 12:45am Oct 9, 2008 12:45am
hi dear all
by watching the markets , we can notice something interesting about candlestick charts,the real bodies used in candlestick charting can be used to determine significant S/R points .
Japanese traders have knowledgeable using from this case for hundreds of years.
real body S/R allow us to take our analysis into the shorter time frames ,which in turn allows us to get better entry points for our longer-term trades.
one the double bottom or tweezers pattern in the candlestick vrnacular can show a signal for probably toward lower prices, but whether this is right about AUDNZD ??
I 4 confirmation this tweezers bottom have look to weekly trend line .a close weekly above this line is good for entry (buy) and see 1.22 .............
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  • #3,342
  • Oct 9, 2008 12:49am Oct 9, 2008 12:49am
Good morning hussin

how do you see G/u... after this free fall...?

do you see any hope to get back from here?
  • #3,343
  • Oct 9, 2008 1:01am Oct 9, 2008 1:01am
Dear Hussin,

I`am thinking about change in trend in the next days, maybe next week.

Candlesticks will tell
  • #3,344
  • Oct 9, 2008 2:05am Oct 9, 2008 2:05am
Quoting nedal26
Good morning hussin

how do you see G/u... after this free fall...?

do you see any hope to get back from here?
hi bro
yes im waiting for a reversal pattern for cable , but we must pay attention to long upper wick of shooting star and 50 f .
in fact we must will see a good movement by cable.
in this time i can not see a confirmation for up or a bullish candlestick pattern
must wait for close weekly
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  • #3,345
  • Oct 9, 2008 2:13am Oct 9, 2008 2:13am
Quoting peaches
Dear Hussin,

I`am thinking about change in trend in the next days, maybe next week.

Candlesticks will tell
hi dear bro
i must congratulate to you for 1KT
peaches i will try for post with dial up now. but this is very hard for me because speed is low .here is Iran and have problems itself
pls look for long AUDCAD- USDYEN -USDCAD-AUDNZD
BEST REGARDS
YOUR CORDIAL FRIEND.
HUSSIN
  • #3,346
  • Oct 9, 2008 2:15am Oct 9, 2008 2:15am
Quoting hussin naiji
hi dear bro
i must congratulate to you for 1KT
peaches i will try for post with dial up now. but this is very hard for me because speed is low .here is Iran and have problems itself
pls look for long AUDCAD- USDYEN -USDCAD-AUDNZD
BEST REGARDS
YOUR CORDIAL FRIEND.
HUSSIN
also i have pay attention to EURAUD and GBPAUD in this time
  • #3,347
  • Oct 9, 2008 10:54am Oct 9, 2008 10:54am
much of candlestick analysis around the search for , and identifying ,reversal patterns.also look to accumulations of lows are often seen as key market levels.
whether will be this pattern as a signal reversal or at least a signal correction . but we know that is a piercing line pattern with high reliability
let see this show
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  • #3,348
  • Oct 9, 2008 12:38pm Oct 9, 2008 12:38pm
a few 4 h geppy pattern:
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  • #3,349
  • Oct 9, 2008 1:51pm Oct 9, 2008 1:51pm
Quoting peaches
notice development of price after daily candle with no lower wick.
Very interesting observation, Peaches!
One Chart is Worth Ten Thousand Words.
  • #3,350
  • Oct 9, 2008 2:08pm Oct 9, 2008 2:08pm
Quoting Forex007
Very interesting observation, Peaches!
Hi Forex007, yes, thank you. If we know the main trend, I think
this is good for timing entry. The first candle is the pattern (shooting
star or something else), the second candle is confirmation. Now,
the third candle is for taking profit
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  • #3,351
  • Oct 9, 2008 3:59pm Oct 9, 2008 3:59pm
Now lets monitor change in daily trend for the yen-crosses.

The driver of the yen crosses is the 10 year treasury note
(^TNX).

On daily TNX chart we see a three inside up pattern with
high reliability.

http://www.candlesticker.com/Cs61.asp
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  • #3,352
  • Oct 9, 2008 4:11pm Oct 9, 2008 4:11pm
Geppy - daily.

We have learned from friend hussin, difference between
true inverted hammer, and bad inverted hammer.

of course this candlestick has low reliability
and needs confirmation.

http://www.candlesticker.com/Cs30.asp
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  • #3,353
  • Oct 9, 2008 4:22pm Oct 9, 2008 4:22pm
eur / usd - daily:

situation is unclear for me.

notice lower wicks are getting higher, and upper wicks are getting higher,
but bears are able to bush price down every day (long upper wicks).

Tommorrow will tell, if we maybe have a weekly hammer.
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  • #3,354
  • Oct 9, 2008 4:31pm Oct 9, 2008 4:31pm
sorry, no new patterns...

good night
  • #3,355
  • Oct 9, 2008 6:54pm Oct 9, 2008 6:54pm
Quoting peaches
Geppy - daily.

We have learned from friend hussin, difference between
true inverted hammer, and bad inverted hammer.

of course this candlestick has low reliability
and needs confirmation.

http://www.candlesticker.com/Cs30.asp

I thing we can count this as "non-confirmed"
  • #3,356
  • Oct 10, 2008 5:30am Oct 10, 2008 5:30am
notice change in trend for geppy on 4 h chart:

after 5 bearish candles, we see now a 4 hour bullish candle.
Notice change in color of last 2 candles. Change in color indicates
often a change in trend.

Last closed two 4 h candles are a tweezers bottom imho.

brave samuray hussin might enter long, conservative trader
peaches waits for confirmation and that the current 4 h candle
closes as a bullish candle.
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  • #3,357
  • Oct 10, 2008 5:40am Oct 10, 2008 5:40am
same situation for GU on 4 h chart:

confirmation from current candle as a close as a bullish candle,
will give us signal in trendchange. This might result in a daily
hammer
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  • #3,358
  • Oct 10, 2008 5:58am Oct 10, 2008 5:58am
Quoting peaches
notice change in trend for geppy on 4 h chart:

after 5 bearish candles, we see now a 4 hour bullish candle.
Notice change in color of last 2 candles. Change in color indicates
often a change in trend.

Last closed two 4 h candles are a tweezers bottom imho.

brave samuray hussin might enter long, conservative trader
peaches waits for confirmation and that the current 4 h candle
closes as a bullish candle.

Hi Peaches,

I see you're using pivot lines on your chart, have you by any chance used FibZones/FibSeries instead? It's just another helpful tool one can use.

By the way congrats on your 1KT status and great job you have been doing here...
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Attached File(s)
File Type: ex4 FibZones UpT and DownT Levels.ex4   19 KB | 453 downloads
  • #3,359
  • Oct 10, 2008 6:26am Oct 10, 2008 6:26am
Quoting Aad

Hi Peaches,

I see you're using pivot lines on your chart, have you by any chance used FibZones/FibSeries instead? It's just another helpful tool one can use.

By the way congrats on your 1KT status and great job you have been doing here...
Thanks aad for indicator and congratulations, IŽll have a look.

Trading daily most time is waiting. IŽve been educated so much by this thread and teacher hussin, IŽll will give back, as much as I can to other newbies like me. Have been losing over one year, since I learned all this here from this thread I make real profitable money since a half year. It is just a matter of time, when I`am able to make living by trading i think.

  • #3,360
  • Oct 10, 2008 7:52am Oct 10, 2008 7:52am
GU:

confirmation of tweezers bottom with current bullish
4 hour candle. Tweezers bottom changed to three inside up
(not perfect, but nothing is perfect in forex).

http://www.candlesticker.com/Cs61.asp

Notice: patter tweezers bottom medium reliability,
three inside up high reliability.

expecting a fall down of price in the next 1 or
2 hours, then up to form next 4 hour bullish candle.

Over all, we might have a hammer with daily close.

Mind the upward gap on sunday opening !
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