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Daily candle chart

  • #3,861
  • Dec 30, 2008 6:50am Dec 30, 2008 6:50am
does it matter to you ? that you see a hammer in combination of a unique three river bottom pattern ...
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  • #3,862
  • Dec 30, 2008 6:59am Dec 30, 2008 6:59am
Quoting hussin naiji
does it matter to you ? that you see a hammer in combination of a unique three river bottom pattern ...
or does it matter to you that you see a hammer in combination of a three star in the south pattern ??
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  • #3,863
  • Dec 30, 2008 7:15am Dec 30, 2008 7:15am
[quote=hussin naiji;2442635]or does it matter to you that you see a hammer in combination of a bearish on-neck pattern ?? im not agree with this phrase "the hammer only requires common sense to understand or it is easily identified by the presence of a small body with a shadow at least two times greater than the body "
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  • #3,864
  • Dec 31, 2008 11:37pm Dec 31, 2008 11:37pm
Quoting hussin naiji
sellers are aggressive on EURAUD
i think 400 or 500 pips fall no 900 pips for one day
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  • #3,865
  • Jan 1, 2009 9:38am Jan 1, 2009 9:38am
I know the pattern is of low reliability but this is the monthly .....
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #3,866
  • Jan 1, 2009 10:15am Jan 1, 2009 10:15am
Rubber band trade coming?
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Those that can, do, those that can't, teach.
  • #3,867
  • Jan 1, 2009 4:42pm Jan 1, 2009 4:42pm
what does one suggest looking at this chart?
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Click to Enlarge Name: gold.gif Size: 17 KB
  • #3,868
  • Jan 1, 2009 6:41pm Jan 1, 2009 6:41pm
Quoting requin
what does one suggest looking at this chart?
Chart forecasts bearish conditions for gold IMHO:

1) hammer on the last day suggests trend is about to reverse and
1a) the candle occurs right under a descending trendline
1b) candle occurs right at a moving average, while the close is above this MA, the long shadow pushing below the MA suggests the move is losing steam

2) the day before, there was a bullish white candle, but its long lower shadow reveals doubt
3) two days before, the candle also shows the market has doubts because of its long upper shadow
4) an of course, gold is on a longer term downtrend that has been in place since Feb, so the signs suggests this large picture downtrend is about to resume
  • #3,869
  • Jan 2, 2009 11:20pm Jan 2, 2009 11:20pm
See this...

Sonic
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  • #3,870
  • Jan 3, 2009 5:18am Jan 3, 2009 5:18am
Hello, can anybody put a comment on this EU? This really annoying me...
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Psychology = Nature = Evolving Forex Market rite?
  • #3,871
  • Edited 6:58am Jan 3, 2009 6:38am | Edited 6:58am
Hi Dr that very chart has been covered on post 3832 and the daily and weekly agree as far as I can tell.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eur-usd daily 3 rd jan09.gif Size: 27 KB
Click to Enlarge Name: eur-usd weekly 3 rd jan09.gif Size: 23 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #3,872
  • Jan 4, 2009 6:13am Jan 4, 2009 6:13am
Bones, Hussin, Peaches et al ...

I had been doing my analysis on EURUSD for tomorrow and jotted down my thoughts. I then stumbled across what you guys had already posted here which I was pleased to see concurred with my thoughts which are ...

Over the Xmas period we’ve seen low volume consolidation which is typical of a holiday period and this has developed into a descending triangle on the daily chart. Coupled with the other points below I shall consider an entry to go short.

I shall make my decision tomorrow morning but I anticipate looking to enter aggressively upon a bounce off the descending line of the triangle (as shown on Bones' chart below) - perhaps a break below a 1hr or 4hr bar. I will then be looking for a break below the baseline of the descending triangle to increase my confidence that this pair is indeed heading South.

1) A descending triangle on the daily EURUSD
2) Five consecutive lower daily highs
3) Bearish outside bar on weekly
4) Price just below the 50 fib
5) Price at 11 Sept level of support which was eventually broken on 2 Oct
6) Price at significant resistance level (Jul/Aug 07) on weekly chart
7) If price breaks to the downside, 1st target is just below 1.33

I won't post my daily chart as it looks almost identical to Bones' daily chart below. However I can see that Bones, Hussin and Peaches anticipate an even greater drop for this pair.

Great analysis guys and good luck in '09!

Rob
  • #3,873
  • Jan 4, 2009 8:19am Jan 4, 2009 8:19am
Quoting silverheat
EURGBP is another interesting one, on monthly chart a long candle (marubozu) shot through 0.9 ending on a median line
forming a shooting star or gravestone doji with this weeks close at or below its open could lead to a minor trend reversal (to 0.9?)
edit: though 1.0 is just 300 pips away
I've looked at this pair through a different lens and this 4 day chart shows a hanging man, closely followed by a shooting star, then 4 days of uncertainty.

I'd like to know what others think of this. Of course let's not forget the point that Silverheat mentioned about a potential historic EURGBP parity being very close by.

With EURUSD looking very bearish, could that add weight to a potential of EURGBP bear move?
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  • #3,874
  • Jan 4, 2009 9:42am Jan 4, 2009 9:42am
We have seen bearish sentiment for EURUSD in a number of charts below.
But I thought this 15 day chart would add some spice to the mix.
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  • #3,875
  • Jan 4, 2009 9:54am Jan 4, 2009 9:54am
Quoting priceaction
Bones, Hussin, Peaches et al ...

I had been doing my analysis on EURUSD for tomorrow and jotted down my thoughts. I then stumbled across what you guys had already posted here which I was pleased to see concurred with my thoughts which are ...

Over the Xmas period we’ve seen low volume consolidation which is typical of a holiday period and this has developed into a descending triangle on the daily chart. Coupled with the other points below I shall consider an entry to go short.

[color=darkslateblue]I shall make...
Hmm EU bearish>bullish but I need some confirmations
Many news next week
Strategy: Pending short
Attached Image (click to enlarge)
Click to Enlarge Name: EU bearish advance block weekly.JPG Size: 45 KB
  • #3,876
  • Jan 4, 2009 9:56am Jan 4, 2009 9:56am
Quoting priceaction
I've looked at this pair through a different lens and this 4 day chart shows a hanging man, closely followed by a shooting star, then 4 days of uncertainty.

I'd like to know what others think of this. Of course let's not forget the point that Silverheat mentioned about a potential historic EURGBP parity being very close by.

With EURUSD looking very bearish, could that add weight to a potential of EURGBP bear move?
Note BOE rate cut and GBP is still down
  • #3,877
  • Edited 11:28am Jan 4, 2009 11:18am | Edited 11:28am
Hey Priceaction really glad to see you here



Quoting priceaction
I've looked at this pair through a different lens and this 4 day chart shows a hanging man, closely followed by a shooting star, then 4 days of uncertainty.

I'd like to know what others think of this. Of course let's not forget the point that Silverheat mentioned about a potential historic EURGBP parity being very close by.

With EURUSD looking very bearish, could that add weight to a potential of EURGBP bear move?
Attached Image (click to enlarge)
Click to Enlarge Name: eur- gbp daily 3 rd jan09.gif Size: 24 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #3,878
  • Jan 4, 2009 11:24am Jan 4, 2009 11:24am
Quoting Philip Pirrip
Chart forecasts bearish conditions for gold IMHO:

1) hammer on the last day suggests trend is about to reverse and
1a) the candle occurs right under a descending trendline
1b) candle occurs right at a moving average, while the close is above this MA, the long shadow pushing below the MA suggests the move is losing steam

2) the day before, there was a bullish white candle, but its long lower shadow reveals doubt
3) two days before, the candle also shows the market has doubts because of its long upper shadow
4) an of course, gold is on a longer...
hi philip im not agree with you about a hammer you can explain me what reason was for your view in choice a hammer best regards hussin
  • #3,879
  • Jan 4, 2009 11:45am Jan 4, 2009 11:45am
Quoting Bones
Hey Priceaction really glad to see you here
hey Bones , i think both i and you must glad for again see Rob here after 9 months.
Rob=blessing
  • #3,880
  • Jan 4, 2009 11:47am Jan 4, 2009 11:47am
Yep ,love his charts Hussin
On-site guru & also FF member's' psychiatrist, when not drinking tea
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