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Daily candle chart

  • #4,681
  • Feb 5, 2009 2:49pm Feb 5, 2009 2:49pm
Quoting mrfxbaling
hello mr husin.. where are u going..all trader need ur analyze
im watching a Indian film
  • #4,682
  • Feb 5, 2009 2:54pm Feb 5, 2009 2:54pm
Quoting hussin naiji
im watching a Indian film
  • #4,683
  • Feb 5, 2009 2:55pm Feb 5, 2009 2:55pm
Quoting hussin naiji
im watching a Indian film
which one,i may have seen it as well

baz
  • #4,684
  • Feb 5, 2009 3:28pm Feb 5, 2009 3:28pm
A few observations ...

  1. Cable has moved 250 pips up from where it sat this time last night
  2. Since mid-2008, the biggest retracement has been just under 1300 pips
  3. Since January's low, Cable has now retraced around 1200 pips
  4. The 50ema on the daily has been a good guide on the three major retracements (not including the current retracement) since mid-2008
  5. January's monthly candle was a deliberating doji
  6. All major retracements since mid-2008 have involved 7-10 daily candles - in 'Beyond Candlesticks' Nison writes; "Eight to ten record sessions are so important in Japan that they have been described as being the bones of Sakata's body". He goes on to describe how the market often goes on to stabilise after these number of candles, although each market has its own characteristics.

Taking all of this into consideration, I believe that we are now approaching a critical stage of seeing the bear correction that we have been expecting for so long, or ...a trend reversal. I am partial to the correction but we could well have to wait until Monday to see it fully materialise - unless Cable is prepared to do a drastic 180' turn. Observe the nature of previous reversals.

Rob

Attached Image (click to enlarge)
Click to Enlarge Name: bones.jpg Size: 162 KB
  • #4,685
  • Feb 5, 2009 3:31pm Feb 5, 2009 3:31pm
Quoting priceaction
A few observations ...[list][*]Cable has moved 250 pips up from where it sat this time last night[*]Since mid-2008, the biggest retracement has been just under 1300 pips[*]Since January's low, Cable has now retraced around 1200 pips[*]The 50ema on the daily has been a good guide on the three major retracements (not including the current retracement) since mid-2008[*] January's monthly candle was a deliberating doji[*][b]All major retracements since mid-2008 have involved 7-10 daily candles - in 'Beyond Candlesticks' Nison writes; "Eight...
Great post, enjoyed reading it . Love the name too Rob. Can only be a good thing

Regards
Jig
  • #4,686
  • Feb 5, 2009 3:38pm Feb 5, 2009 3:38pm
Quoting priceaction
A few observations ...[list][*]Cable has moved 250 pips up from where it sat this time last night[*]Since mid-2008, the biggest retracement has been just under 1300 pips[*]Since January's low, Cable has now retraced around 1200 pips[*]The 50ema on the daily has been a good guide on the three major retracements (not including the current retracement) since mid-2008[*] January's monthly candle was a deliberating doji[*][b]All major retracements since mid-2008 have involved 7-10 daily candles - in 'Beyond Candlesticks' Nison writes; "Eight to...
For a resumption of the BULL MOve,LOOK FOR a retest of the 1.4500,tommorow we will get an idea,a failure to stay above 1.4500,i see further weakness.
At present the weekly will finish as a BULLISH CANDLE,BUT can change tommorow...

baz
  • #4,687
  • Feb 5, 2009 3:43pm Feb 5, 2009 3:43pm
All highly speculative at this stage but it will only take a fall of 200 pips or so, for this week's candle to close red.

Interestingly, price is now ranging between 1.46 and 1.47. A break of either could point us in the right direction.

Quoting baz
For a resumption of the BULL MOve,LOOK FOR a retest of the 1.4500,tommorow we will get an idea,a failure to stay above 1.4500,i see further weakness.
At present the weekly will finish as a BULLISH CANDLE,BUT can change tommorow...

baz
  • #4,688
  • Feb 5, 2009 3:49pm Feb 5, 2009 3:49pm
Cheers Jig.

Noting your signature, I wonder where the ghost of the elusive Peter Crowns is these days
Quoting Jigsaw
Great post, enjoyed reading it . Love the name too Rob. Can only be a good thing

Regards
Jig
  • #4,689
  • Feb 5, 2009 3:50pm Feb 5, 2009 3:50pm
Quoting priceaction
All highly speculative at this stage but it will only take a fall of 200 pips or so, for this week's candle to close red.

Interestingly, price is now ranging between 1.46 and 1.47. A break of either could point us in the right direction.
Patience,we wait for the fun and Games tommorow......and while you are watching.....remember the song "what a difference a Day makes..".
its also possible for a retest of the 1.4550 and UP she flies...
take care and trade safe.

baz
  • #4,690
  • Feb 5, 2009 3:56pm Feb 5, 2009 3:56pm
any idea for USDCAD on the daily chart. I think it will go north, my system gave me a signal.but not tomorrow i think next week
  • #4,691
  • Feb 5, 2009 4:04pm Feb 5, 2009 4:04pm
Quoting nicotine
any idea for USDCAD on the daily chart. I think it will go north, my system gave me a signal.but not tomorrow i think next week
i dont trade this pair,perhaphs Hussin or other traders may be able to confirm...but as usual wait until the NFP is absorbed in the market
take care

baz
  • #4,692
  • Feb 5, 2009 4:47pm Feb 5, 2009 4:47pm
I dont trade the Loonie but I have looked,
The daily lfx of both cad and usd both look to be on the up running into res together , with $ is looking stronger as the trend for the $ is up.


Quoting nicotine
any idea for USDCAD on the daily chart. I think it will go north, my system gave me a signal.but not tomorrow i think next week
Attached Image (click to enlarge)
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #4,693
  • Feb 5, 2009 5:01pm Feb 5, 2009 5:01pm
ok last thought for today.
normaly Cable and Swissy move in opposite Direction,today they were both UP ..
So i suspect ONE will change direction,unless we have a New Order of way for these 2 pairs.
take care
trade Safe

baz
  • #4,694
  • Feb 5, 2009 5:05pm Feb 5, 2009 5:05pm
Have you heard this one Hussin ,the new Lily Allen record

http://www.digitalspy.co.uk/music/a1...ew-single.html

Maybe to moden?
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #4,695
  • Feb 5, 2009 5:29pm Feb 5, 2009 5:29pm
Quoting Bones
I dont trade the Loonie but I have looked,
The daily lfx of both cad and usd both look to be on the up running into res together , with $ is looking stronger as the trend for the $ is up.
gosh, this is exactly what i was afraid. symmetrical triangle means continuation, right? if it does break to upside then it will be a strong one.
  • #4,696
  • Feb 5, 2009 5:35pm Feb 5, 2009 5:35pm
Hey Pk ,how did you do on that AUD NZD i got burned....

Mind you still hasn't taken out that daily shooting star,lol

To be honest I have no Idea on the direction it isn't clear to me buddy.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #4,697
  • Feb 5, 2009 6:04pm Feb 5, 2009 6:04pm
Quoting Bones
Hey Pk ,how did you do on that AUD NZD i got burned....

Mind you still hasn't taken out that daily shooting star,lol

To be honest I have no Idea on the direction it isn't clear to me buddy.
i'm still holding shorts bro. i'm running out of patients though.
  • #4,698
  • Feb 5, 2009 6:34pm Feb 5, 2009 6:34pm
The JPY has taken a hit today
Attached Image (click to enlarge)
Click to Enlarge Name: lfx jpy 4hr - 5-3 08.gif Size: 22 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #4,699
  • Feb 5, 2009 7:23pm Feb 5, 2009 7:23pm
I was ask to post a kindly reminder in here and ask that this thread be kept to candle stick analysis only, there are many threads to chat in about trades etc. but please lets keep this one on track with charts and analysis on candlesticks as Hussin has all along. There are some that do not have a great grasp of the english language to try and word this right so I hope the message is clear and we can get back on track.

Thanks
Don't chase the market, Let the market come to you
  • #4,700
  • Feb 6, 2009 1:58am Feb 6, 2009 1:58am
So the bull move has not died yet and more bones to Sakata's body could be in the making (but 14 hrs to go yet). The current daily candle has just broken the 1.46-1.47 range to the upside and breached yesterday's and February's high.

Let's see how news impacts the shaping of the current daily and weekly candles.

Rob

Quoting priceaction
A few observations ...[list][*]Cable has moved 250 pips up from where it sat this time last night[*]Since mid-2008, the biggest retracement has been just under 1300 pips[*]Since January's low, Cable has now retraced around 1200 pips[*]The 50ema on the daily has been a good guide on the three major retracements (not including the current retracement) since mid-2008[*] January's monthly candle was a deliberating doji[*][b]All major retracements since mid-2008 have involved 7-10 daily candles - in 'Beyond Candlesticks' Nison writes; "[color=RoyalBlue]Eight...
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