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Daily candle chart

  • #4,341
  • Edited 2:32pm Jan 24, 2009 2:21pm | Edited 2:32pm
I have thought about what has created this shooting star and it was a $ pull back,
Like the Eur im not keen on how the Shooting Star sits.
The Chf will get weaker by looks so I will not sell .

Quoting fammira
hi Bones, would you go short on USDCHF if price breaks the 1,15 level?

thank you
Attached Image (click to enlarge)
Click to Enlarge Name: 50-usd-chf 24-01 target hit.gif Size: 30 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #4,342
  • Jan 24, 2009 2:31pm Jan 24, 2009 2:31pm
Quoting bjpumping
hello goodness, i sent you a private message, please do well to reply me and i will be happy if you do that.
hey bj, I replied u yesterday, check ur inbox
  • #4,343
  • Jan 24, 2009 8:09pm Jan 24, 2009 8:09pm
Quoting Bones
Hi Sonic ,I'm out of market right now for the weekend,my initial thoughts are that the $ will weaken ....
Since I was trading the swissy my eye was on the break of 1.1500 for next week which would break your hammmer...
Your hammer looks quite deep into the rest of price
to me..it more like piercing pattern..try to poke downside...

http://www.forexfactory.com/attachme...1&d=1232776895
  • #4,344
  • Jan 24, 2009 8:49pm Jan 24, 2009 8:49pm
Quoting Bones
I have thought about what has created this shooting star and it was a $ pull back,
Like the Eur im not keen on how the Shooting Star sits.
The Chf will get weaker by looks so I will not sell .
thank you!

I also would see it as a temporary $ pullback, maybe lasting longer than expected, but always a pullback before it starts to move up again
  • #4,345
  • Edited 3:14am Jan 25, 2009 2:49am | Edited 3:14am
hi all,

on weekly candle chart for the dollar index we see possible abandoned baby or evening doji star? this is not good for usd-bulls.

edit: but these patterns need a long white candle in prior week, which was not the case here with the upper wick nearly the same length as the body.
Attached Image (click to enlarge)
Click to Enlarge Name: USD 090125 W1.png Size: 11 KB
Invincibility lies in the defence, the possibility of victory in the attack
  • #4,346
  • Edited 4:25am Jan 25, 2009 4:00am | Edited 4:25am
on gold & silver chart we see bulls attack resistance last week (long white candle) with small pullback on daily, gold in reach of 950, silver leaving 9-10 range (notice the bounce of 10.31 line established in sep 08 last week on silver)
also last week was a hammer in both gold, and with very small body silver.

edit: could the last 5 daily candles be counted as a bullish mat hold or rising three methods continuation pattern?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GOLD 090125 D1.png Size: 13 KB
Click to Enlarge Name: GOLD 090125 W1.png Size: 14 KB
Click to Enlarge Name: SILVER 090125 D1.png Size: 14 KB
Click to Enlarge Name: SILVER 090125 W1.png Size: 12 KB
Invincibility lies in the defence, the possibility of victory in the attack
  • #4,347
  • Jan 25, 2009 5:50am Jan 25, 2009 5:50am
silverheat: i think the mat hold pattern requires very specific things, like the 3 middle candles being inside the range of the first and candles have to be a certain colour. but i think the logic behind the mat hold pattern is present here. market was basically unsure if the uptrend should continue and deliberated for a while, then decided that it should, and broke to the upside and plowed through a resistence level at the same time. i would long gold depending on the action on monday
  • #4,348
  • Jan 25, 2009 5:53am Jan 25, 2009 5:53am
Quoting hussin naiji
i don't know why my candlestick analysis on USDCAD was mistake. i think that i have not calculated a factor, but what factor ?
im examining this mistake analysis .
hussin, its not that your analysis is mistaken, so dont be so hard on yourself. economic and environmental factors changed, especially oil and gold prices, which invalidated your analysis.
  • #4,349
  • Jan 25, 2009 5:56am Jan 25, 2009 5:56am
With closed markets and perhaps time to study, take a look at these two short videos from the Candlestick man himself, Steve Nison:

Video 1: An introduction from Steve Nison and a lesson on the Three Advancing White Soldiers candlestick pattern

Video 2: Steve Nison on Springs & Upthrusts
  • #4,350
  • Edited 7:33am Jan 25, 2009 7:14am | Edited 7:33am
Quoting Philip Pirrip
silverheat: i think the mat hold pattern requires very specific things, like the 3 middle candles being inside the range of the first and candles have to be a certain colour. but i think the logic behind the mat hold pattern is present here. market was basically unsure if the uptrend should continue and deliberated for a while, then decided that it should, and broke to the upside and plowed through a resistence level at the same time. i would long gold depending on the action on monday
hi philip,

yes its clearly no rising three methods, where the middle candles descent inside the first candle. the only problem with the mat hold is, it appears in an uptrend. on the charts we're coming from a retrace and the middle candles are not descending like required by both patterns.
Attached Images
Invincibility lies in the defence, the possibility of victory in the attack
  • #4,351
  • Jan 25, 2009 2:08pm Jan 25, 2009 2:08pm
Quoting goodness
A mistake that actually worked out well especially for the long guy(asking u for sl & tp)
Good gracious!
i should like to know what do you mean by " asking u for SL & TP ?
i think that i have answered to this question. pls , read my answer to nedal26 with post of number 4308 date Jan 23 .
i scarcely know what to say to you . i have said time and again that i don't use from SL in transactions.
this is my style . it is important to know that im comfortable with this method . also i have fallen into the habit of this method .
yes , both i and you also other traders know , we sell on the occurrence of a bearish hanging man pattern if the low of the day with the hanging man is broken . the stop- loss in this case is the high of the day at which the hanging man pattern has occurred .
or for a bearish engulfing pattern , the stop- loss is placed above the highest high of the small or big candlestick ,whichever is higher .
or for a bullish harami pattern , the stop-loss is placed at the low of that particular day. and so on .....
long ago in fact may 2008
i and Rob have discussion about this case . only dear peaches has pay attention this case , of course after six- month . pls ,read post of number 122169 date oct 14 .2008 in Auslanco-GBP/JPY and GBP/USD (newstrade).
now i have a question you
when you have gone long or short a pair in H4( tf), whther you will place your S/L attentive to H4 or daily or more ?
when you have gone long or short a pair in H1 or H4 or daily (tf) ,suddenly the market receive an order long or short with high volume by a big company (toyota or ford or even banks ) in same time . whether you love false long lower wicks or fasle long upper wicks ??
in the end , my intention is not if when i have gone long or short a pair and my position is with red pips finally i close my position with 500 or more red pips . no , perhaps if my reason was for enter with a candlestick pattern or chart pattern H4 (tf) for exit i look forming the daily and weekly .
also my intention is not insistence for honestly this method .but i dare say this is a method
best regards
hussin
  • #4,352
  • Jan 25, 2009 2:13pm Jan 25, 2009 2:13pm
Hussin....

Glad to see your post......

you have been missed.....!


dave
  • #4,353
  • Jan 25, 2009 2:24pm Jan 25, 2009 2:24pm
Quoting Philip Pirrip
hussin, its not that your analysis is mistaken, so dont be so hard on yourself. economic and environmental factors changed, especially oil and gold prices, which invalidated your analysis.
I dont think it was wrong at all, I made pips from it.... set a TSL and it closed at a profit

it may not have gone as far as it was expected but it did go up after his post.
Don't chase the market, Let the market come to you
  • #4,354
  • Jan 25, 2009 2:58pm Jan 25, 2009 2:58pm
Quoting hussin naiji
Good gracious!
i should like to know what do you mean by " asking u for SL & TP ?
i think that i have answered to this question. pls , read my answer to nedal26 with post of number 4308 date Jan 23 .
i scarcely know what to say to you . i have said time and again that i don't use from SL in transactions.
this is my style . it is important to know that im comfortable with this method . also i have fallen into the habit of this method .
yes , both i and you also other traders know , we sell on the occurrence of a bearish hanging man pattern if the...

U obviously didnt understand my stmt. I was refering to d guy that was asking u for sl regarding his usdcad long. I wasnt asking u for sl or tp
  • #4,355
  • Jan 25, 2009 4:40pm Jan 25, 2009 4:40pm
Hussin demonstrated how the USD is showing strength using USDLFX on the weekly chart.

Meanwhile, the more immediate daily GBPUSD candles are hinting of at least some bullishness
in the shorter term with the last three daily candles expressing potential for some upward
movement.

The charts for the new week are about to open so let's see what the reality is.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd 25 jan.jpg Size: 67 KB
  • #4,356
  • Jan 25, 2009 4:55pm Jan 25, 2009 4:55pm
i didn;t say he was wrong, quite the contrary actually.

Quoting Tmac
I dont think it was wrong at all, I made pips from it.... set a TSL and it closed at a profit

it may not have gone as far as it was expected but it did go up after his post.
  • #4,357
  • Jan 26, 2009 12:17am Jan 26, 2009 12:17am
Quoting hussin naiji
for example , this bridge has made by Germans in 1920 .
of course i love this city because i have born in this city .
when Germans made this bridge give a guaranty for period 80 year for this bridge .
this is interesting after 80 year , municipality of city has received a letter from company's creative this bridge.
the letter have this guaranteed "this year after ended 80 year , our company will not responsibility for this bridge.
well done ! well done ! for this moral responsibility
well done
Hello dear hussin,

this is a fascinating story. If your municipality would ask the company for a new bridge, they would be glad and happy to build a new one, I think. Lots of companys are in trouble here, because of crises.

But for your usd/cad analyses...I think we wait and see today, I have a feeling, it is just turning bullish.
  • #4,358
  • Jan 26, 2009 12:19am Jan 26, 2009 12:19am
usd/cad
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad1h.gif Size: 14 KB
  • #4,359
  • Jan 26, 2009 12:26am Jan 26, 2009 12:26am
Notice weekly candle open without upper wick for eur/usd.

A bit early to say a black open marubozu

http://www.candlesticker.com/Cs24.asp

but weekly candle has no upper wick.

I know daily canldes have long lower wicks showing bulls.

I`am in bear camp for eur/usd.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 11 KB
  • #4,360
  • Jan 26, 2009 12:31am Jan 26, 2009 12:31am
IŽam also in bear camp for eur/jpy until US session opening.

On my charts A monthly fibo level is broken, was retest on friday
and price might now turn down to reach 110.30.

Of course market might be choppy, because everybody is
seeing the bulls at this level at the daily candles.
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy.gif Size: 13 KB
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