geppy daily:
an upward gap, followed by long bearish candle at the end of an uptrend
is an bearish high reliable evening star.
http://www.candlesticker.com/Cs72.asp
But the only problem is: this pattern does not appear at the
end of an uptrend.
If I look at the 1 h chart, I still see this down channel, with next support at ~151 and around ~148.
Hi,
I don't think these weekend gaps are true gaps like the ones you can see during news and other low liquidity times. The truth is that while interbank market is opened 24/7, most brokers are closing for the weekend, so you will not get the whole picture from their graphs. Oanda stays opened during the weekend, so you can get the idea about what usually happens from the graphs bellow - usually there is no trading from Friday night to Sunday evening (GMT time), but about two or tree hours before brokers open early institutional traders will start putting orders, propably to position themselves at better prices (e.g. buying/seling other people stoplosses or whatever positions which were left...
I keep gaps in my mind, because sometimes they work as a support or resistance area. And I must say, that I have seen many gaps in the last weeks, the time before there hasnīt been so much gaps.
Yeah, there is much less liquidity in the market, therefore higher volatility, wider spreads a gaps, as the price will be skipping over the price levels where there aro no orders placed, though it usually happens only during the news.
Bellow is GBPUSD - may go down if it closes bellow 1.5500, but I will propably wait for weekly or daily close bellow 1.5260 resistance.
pipsy, hussin, what do you think about todays:
11:00 EUR http://www.forexfactory.com/images/m...mpact_high.gif German ZEW Economic Sentiment
http://www.forexfactory.com/images/m...etail_star.gif -53.5
-62.5 -63.0
I`am thinking about a early change in bias for the euro, maybe.
This indicator is showing what economy itself thinks, it will develop
better in the near future. Prices for food are going down here in
germany atm. Price for gasoline is pretty low compared with July
for example.
Economic sentiment is a pretty basic indicator, i think
Honestly I don't know how to interpret euro right now. Problem with fundamentals is that everybody is going to interpret them in different ways, depending on what set of prejudices they believe in. I am following fundamentals (and also economical teories are sort of my hobby, especially the austrian one, but most of our polititians and economist are keynesians, which makes really long term predictions kind of easy, but not very practical for trading) but I am trying not to trade on them because not everybody is on the same page. With commodities...
geppy daily:
we see now continuation of downtrend.
There might be a three bearish crows pattern under development.
Notice missing lower wick on daily candle.
This is indiacting big selling pressure.
4 h chart: last 4 h candle has had a good chance for
development of tweezers bottom, but failed. A failed pattern is also a signal.
[u] Maybe trading now has changed for yen crosses. In the last
days there has been a swing trading...
geppy daily:
Maybe trading now has changed for yen crosses. In the last
days there has been a swing trading in a channel from high to low,
but maybe now we change into just trend trading without retrace.
Maybe trading now has changed for yen crosses. In the last days there has been a swing trading in a channel from high to low,
but maybe now we change into just trend trading without retrace.
First target 91.00.
