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Daily candle chart

  • #4,121
  • Jan 18, 2009 6:47am Jan 18, 2009 6:47am
Thanks so much for your post Hussin it’s really appreciated.
I want to be a risk avoider to treat this as a business, it’s the only way and I see clearly the advantage of the LFX.
As I have said to you before without some kind of guidance I feel that the road success would be so much longer if not impossible which is what is great about the FF in general, as if you can work out the traders to listen to, your on the right path right from the beginning.
Best regards Tony
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #4,122
  • Jan 18, 2009 6:57am Jan 18, 2009 6:57am
Hi hussin

I am glad your internet is up and running and you are back again.

Could you tell me where we can get the LFX charts from.

Thanks
Regards
  • #4,123
  • Jan 18, 2009 8:34am Jan 18, 2009 8:34am
Quoting howard
Hi hussin

I am glad your internet is up and running and you are back again.

Could you tell me where we can get the LFX charts from.

Thanks
Hello Howard,

try this http://www.liteforex.org and download the sigtrader 4.

good luck.
  • #4,124
  • Jan 18, 2009 2:08pm Jan 18, 2009 2:08pm
Quoting fammira
then I'll be glad to read and stay on the sidelines
its nothing personal but this remains one of the "pure" threads left in FF and the anallysis remains second to none, there is no thread that compares to this one because it says clean
Don't chase the market, Let the market come to you
  • #4,125
  • Jan 18, 2009 2:13pm Jan 18, 2009 2:13pm
hello hussein naji,please i am new to this thread and i need your help

please can you make a daily candle chart analysis of EURUSD AND GBPUSD.

thank you
  • #4,126
  • Jan 18, 2009 3:16pm Jan 18, 2009 3:16pm
Bones and Hussin posted great weekly charts earlier which speak of places in the deep south.

Here we can see a three buddha top (aka head & shoulders) on the GBPUSD with a poor attempt by the bulls on Friday.

On GBPLFX, Friday's candle emphasises the probability that the train heading south, might well be pulling out of the station very soon indeed.

"Tickets please"
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusd 18 jan.jpg Size: 175 KB
Click to Enlarge Name: gbplfx 18 jan.jpg Size: 162 KB
  • #4,127
  • Jan 18, 2009 4:29pm Jan 18, 2009 4:29pm
Hi everyone,

my dollar index chart tells me, that we have seen a bearish shooting star on last thursday, and a bearish candle on last friday. I think we will see a bearish dollar on monday, but picture may change during US session. The last gap I marked in yellow might be support. This will give good entrys.
Attached Image
  • #4,128
  • Edited 4:57pm Jan 18, 2009 4:37pm | Edited 4:57pm
The eur/usd chart gives me a bullish engulfing candle.

But I think, the party for the bulls will be short-term, because, if we look at the weekly chart, we have seen long lower wick showing pressure of the bull.
But we have seen this in the past on the weekly chart, and chart turning bearish after small success of bulls.

Good short entry might be 1,35-1,37, if price get into this area.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: euday.gif Size: 12 KB
Click to Enlarge Name: euweek.gif Size: 12 KB
  • #4,129
  • Jan 18, 2009 4:51pm Jan 18, 2009 4:51pm
Quoting sonicdeejay
Any analysis on EJ??

Sonic
Hi sonic,

most importend is, the yen is turning clear bearish. Notice lower wicks in the yen light-index, they are indicating selling pressure of the yen.

eur/yen is good trading opportunity. We have a bullish hammer on the weekly, and interesting daily candles: We have 2 neutral high wave candles and on friday a bullish candle. Today we have opening an upward gap.

But beware with long, because it is against the major trend. I remain strong bearish on this pair with target around 106.

Bulls may take first profit around 126. I will watch out between 126-130 for bearish signal candle for good short entry.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ejday.gif Size: 14 KB
Click to Enlarge Name: ejweek.gif Size: 12 KB
Click to Enlarge Name: yenlfx.gif Size: 29 KB
  • #4,130
  • Jan 18, 2009 4:57pm Jan 18, 2009 4:57pm
will we see a three white soldier pattern for UJ ?

Time will tell.

Good night, good trading everybody.
Attached Image (click to enlarge)
Click to Enlarge Name: ujday.gif Size: 13 KB
  • #4,131
  • Jan 18, 2009 5:14pm Jan 18, 2009 5:14pm
Hi Nagen
I would say that these 2 candles are not healthy enough to create the 3 soldiers pattern and the daily suggests down as the next move.


Quoting Nagen
Hi, guys I am first time here in this thread but I am learning from you since beginning.

Do you think next week gonna be three white soldier ?
Attached Image (click to enlarge)
Click to Enlarge Name: 1-gbp-cad sun 18 jan.gif Size: 15 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #4,132
  • Jan 18, 2009 5:58pm Jan 18, 2009 5:58pm
Quoting peaches
Hi sonic,

most importend is, the yen is turning clear bearish. Notice lower wicks in the yen light-index, they are indicating selling pressure of the yen.

eur/yen is good trading opportunity. We have a bullish hammer on the weekly, and interesting daily candles: We have 2 neutral high wave candles and on friday a bullish candle. Today we have opening an upward gap.

But beware with long, because it is against the major trend. I remain strong bearish on this pair with target around 106.

Bulls may take first profit around 126. I will watch out...
thx man..peaches...

Sonic
  • #4,133
  • Jan 18, 2009 6:48pm Jan 18, 2009 6:48pm
Quoting Bones
Hi Nagen
I would say that these 2 candles are not healthy enough to create the 3 soldiers pattern and the daily suggests down as the next move.

yes on daily charts there is shooting star, Thank you Bones

Good luck for coming week have a lots of green pips
  • #4,134
  • Jan 19, 2009 3:11am Jan 19, 2009 3:11am
Not only did we see bearish sentiment in the weekly and daily, but the 4hr chart presented us with the birth of an abandoned baby which gave greater confidence to sell this morning.

It was slightly breached to the upside by a poor attempt by the bulls which could be seen in the resulting doji.

Then the train left the station.

Quoting priceaction
Bones and Hussin posted great weekly charts earlier which speak of places in the deep south.

Here we can see a three buddha top (aka head & shoulders) on the GBPUSD with a poor attempt by the bulls on Friday.

On GBPLFX, Friday's candle emphasises the probability that the train heading south, might well be pulling out of the station very soon indeed.

"Tickets please"

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd abandoned baby.jpg Size: 287 KB
  • #4,135
  • Jan 19, 2009 5:56am Jan 19, 2009 5:56am
hello everyone on here,great thread this is sincerely, big ups to you hussein, bones and everyone on here.


price action, i was looking at your chart and compared it with my 4 hour chart and i discovered that the candle formations are not the same,yours was an abandoned baby before the long sell down and mine is not, i think all this brokers can be very confusing.what broker do you use? i use fxpro...

can this kind of a thing cause false signals or what do you advice?may be i download some other brokerage's platform cos my broker is situated in europe, cyprus.

attached is my 4hour chart and you will see that the candle before the draw down was not an abandoned baby




Buy when price is going up and Sell when price is going down...always do what price is doing.
Attached Image (click to enlarge)
Click to Enlarge Name: 19012009.gif Size: 17 KB
  • #4,136
  • Jan 19, 2009 6:36am Jan 19, 2009 6:36am
Quoting Tmac
its nothing personal but this remains one of the "pure" threads left in FF and the anallysis remains second to none, there is no thread that compares to this one because it says clean
and that's exactly the reason why I like this thread

very good work and effort
  • #4,137
  • Jan 19, 2009 6:58am Jan 19, 2009 6:58am
[quote=bjpumping;2477744]

price action, i was looking at your chart and compared it with my 4 hour chart and i discovered that the candle formations are not the same,yours was an abandoned baby before the long sell down and mine is not, i think all this brokers can be very confusing.what broker do you use? i use fxpro...

quote]


Hi bjpumping
I have toyed with this thought so much believe me ,I’ve tried paid data subscription and many others .
I have seen the answer to the Q may times also.
Trade what you see as the data is exactly the same just presented in a slightly different way (candle close times are different broker to broker).
You ideally want your daily candle to close at a realistic time for you to analyse before the end of the day I suppose. 10 GMT is great also as that is the US session close, I think.
Anyway that’s my ideal daily close hope this helps.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #4,138
  • Jan 19, 2009 7:13am Jan 19, 2009 7:13am
hey hey, thanks bones for the quick reply. i think this thread is a valuable asset on this forum sincerely.i think i need to start reading the thread from the beginning to learn more about candle chart analysis.

one other questions, please dont mind me because i want to learn...lol

if there is a signal on the daily chart to either buy or sell, how do you enter the trade? i am a day trader and i base most of my trading decisions on the 1 hour time frame, so if there is a signal from the daily, how do i know when to enter ?i hope my question is not silly.will be glad if anyone can help


Buy when price is going up and Sell when price is going down...always do what price is doing.
  • #4,139
  • Jan 19, 2009 7:21am Jan 19, 2009 7:21am
Don’t get me wrong BJ im am learning the same as you and I am the king of questions I’m always asking them, lol
I think it would depend on your time to check the charts,a good daily set up could easily be taken right on close with the thought you will be in profit the next day. Some drop a time frame ,so the daily set up have a 4 hour TF entry. Really the 1 hour (and below)is a difficult TF to trade unless you consistently make money on the higher time frames.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #4,140
  • Jan 19, 2009 8:54am Jan 19, 2009 8:54am
hi dear all
im out the Tehran and side caspian sea.
i will come back on thursday.
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