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Daily candle chart

  • #4,241
  • Jan 21, 2009 2:00pm Jan 21, 2009 2:00pm
How about USDJPY ?
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  • #4,242
  • Jan 21, 2009 2:05pm Jan 21, 2009 2:05pm
Both look good to me Nagen,trouble with these is the size of the candles,you going to need to drop a TF to get a lower risk entry,or enter on the break of the candle.

I would have like a green bar on the USD-JPY
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #4,243
  • Jan 21, 2009 2:12pm Jan 21, 2009 2:12pm
To look for confluence is v good.


Quoting Nagen
Anybody agreed to go long nu? triple bottom, Piercing line, Support line and also Histogram divergence.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #4,244
  • Jan 21, 2009 2:47pm Jan 21, 2009 2:47pm
If you use the lfx for some currency, we see some reverse daily candles.

Most importend is the usd and yen turned bearish and pound turned
bullish. The TNX has a broken shooting star, which is a good chance for more bullish tnx on thursday. This would support a bearish yen.

But I think this reverse is very short term. The bias might change on friday again.

On currency pairs we see hammer and doji as daily candlestick pattern. For example the gbp/usd.

After breaking a serious support 143.50 it is an opportunity to retest this support, if it is solid and now resistance.

Also it is normal after a big move, we see a kind of fibo retracement.

So here is my thinking about usd/gbp: we see a daily hammer wich is indicating a bullish move, which might be short term. But after this good bullish move in the last hours we see on 1 h chart a shooting star.

So I`am short from 1.40 with target 1,385 (based on 1 h shooting star). At 1.38-1,385 (fibo retrace level) I will long (SL 1.377) with target 1.435 (the retest of the broken support, now maybe resistance).

Of course the market might proof me wrong

Nice trading everybody
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  • #4,245
  • Jan 21, 2009 2:56pm Jan 21, 2009 2:56pm
Might be worth having a cable long in place too peaches
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #4,246
  • Jan 21, 2009 3:09pm Jan 21, 2009 3:09pm
Quoting Bones
Might be worth having a cable long in place too peaches
I will watch out at this area on 1 h chart for a hammer or bullish engulfing
candle...

Good night
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  • #4,247
  • Jan 21, 2009 3:13pm Jan 21, 2009 3:13pm
Quoting Bones
Both look good to me Nagen,trouble with these is the size of the candles,you going to need to drop a TF to get a lower risk entry,or enter on the break of the candle.

I would have like a green bar on the USD-JPY

Thank you Bones.
  • #4,248
  • Jan 21, 2009 3:19pm Jan 21, 2009 3:19pm
Same as you Peaches

Quoting peaches
I will watch out at this area on 1 h chart for a hammer or bullish engulfing
candle...

Good night
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #4,249
  • Jan 21, 2009 3:39pm Jan 21, 2009 3:39pm
Catch everyone tomorrow im shattered.

NP Nagen
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #4,250
  • Jan 21, 2009 3:52pm Jan 21, 2009 3:52pm
Quoting Bones
Catch everyone tomorrow im shattered.

NP Nagen

Alright good night my local time is 6:52pm
  • #4,251
  • Jan 21, 2009 11:16pm Jan 21, 2009 11:16pm
hi dear all
hi Rob
what is your point of view about this formation ?
whether you agree with a tower top ??
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  • #4,252
  • Jan 21, 2009 11:20pm Jan 21, 2009 11:20pm
now we can see a bearish harami pattern with a confirmation (H4) for EURUSD
  • #4,253
  • Jan 21, 2009 11:24pm Jan 21, 2009 11:24pm
in the daily candle chart GBP LFX we can see a change in bullish hammer pattern to a bearish on neck pattern .
time is nice for short GBPUSD
  • #4,254
  • Jan 21, 2009 11:30pm Jan 21, 2009 11:30pm
LFX JPY is signaling a form bearish . i think this pattern can cover long lower wick previous candle in 44.350 or 44.450
  • #4,255
  • Jan 21, 2009 11:45pm Jan 21, 2009 11:45pm
Hi Hussin,
The Tower Top you show looks good.
Rally with bull candles > Lull > Bear candles

Do I pass?

Hope you had a good trip!
Rob

Quoting hussin naiji
hi dear all
hi Rob
what is your point of view about this formation ?
whether you agree with a tower top ??
  • #4,256
  • Jan 21, 2009 11:58pm Jan 21, 2009 11:58pm
now look USDYEN (daily)
also LFX JPY (daily)
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  • #4,257
  • Jan 22, 2009 12:59am Jan 22, 2009 12:59am
Quoting priceaction
Hi Hussin,
The Tower Top you show looks good.
Rally with bull candles > Lull > Bear candles

Do I pass?

Hope you had a good trip!
Rob
i have not said that i agree with this formation as a the tower top .
my purpose was if you see a downtrend for example more 10 or 15 red candle and then you see occurring 3 or 4 blue candle ( that of course we know this is a retracement ) therefore this is not a top trend perhaps this is along the trend of previous .
i think peaches has received my purpose .
yes also i have nice time in side of caspean sea .
the life refreshing breeze from sea with food white of fish with drink of wine and see old friends
  • #4,258
  • Jan 22, 2009 1:07am Jan 22, 2009 1:07am
Hussin, OK I understand; thanks for your guidance

Great to hear you had a nice time away.

Rob

Quoting hussin naiji
i have not said that i agree with this formation as a the tower top .
my purpose was if you see a downtrend for example more 10 or 15 red candle and then you see occurring 3 or 4 blue candle ( that of course we know this is a retracement ) therefore this is not a top trend perhaps this is along the trend of previous .
i think peaches has received my purpose .
yes also i have nice time in side of caspean sea .
the life refreshing breeze from sea with food white of fish with drink of wine and see old friends
  • #4,259
  • Jan 22, 2009 1:12am Jan 22, 2009 1:12am
Hussin,

Please can you help understand " bullish hammer pattern to a bearish on neck pattern".

I notice you have said this about JPY & GBP today. What i understand is that the bearish neck pattern overpowers the bullish hammer pattern. But I don't understand where & when to recognise the"bearish neck" pattern.

Thanks
Rob

Quoting hussin naiji
in the daily candle chart GBP LFX we can see a change in bullish hammer pattern to a bearish on neck pattern .
time is nice for short GBPUSD
  • #4,260
  • Jan 22, 2009 2:00am Jan 22, 2009 2:00am
Quoting priceaction
Hussin,

Please can you help understand " bullish hammer pattern to a bearish on neck pattern".

I notice you have said this about JPY & GBP today. What i understand is that the bearish neck pattern overpowers the bullish hammer pattern. But I don't understand where & when to recognise the"bearish neck" pattern.

Thanks
Rob
certainly dear Rob
this is very important that you can recognize distinction between a bearish on neck pattern in the FX market and the equity market .
the FX market have a bearish on neck pattern special for itself also the equity market have a bearish on neck pattern special for itself.
in fact for the equity market we can see a a red candle that follow by a small blue candle . approximately the bearish on neck pattern (the equity market ) is similar a bullish piercing line pattern of course a copy non-developed .
also a bearish on neck pattern have distinction with a bullish meeting lines .
of course in the FX market we can see to this form .
Rob in the first time you think that we are looking a bullish hammer but in is only a mirage and or a bull trap !!
we know this pattern is a bearish continuation pattern with medium reliability.
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