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Daily candle chart

  • #4,761
  • Feb 8, 2009 7:05am Feb 8, 2009 7:05am
Quoting hussin naiji
but weekly candle chart NZDUSD
apparently a tweezers bottom + bullish engulfing pattern
but we can see a confirmation for this pattern ?? i don't know
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  • #4,762
  • Feb 8, 2009 7:20am Feb 8, 2009 7:20am
Husssin could you advise on the USDLFX? Weekly
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #4,763
  • Feb 8, 2009 8:22am Feb 8, 2009 8:22am
Quoting hussin naiji
now we can see a bullish engilfign pattern for weekly candle chart NZDUSD.
but i have pay attention in other factors .
in fact im not optimistic to this bullish pattern . and also i have not high reliability to this pattern.
im speaking frankly you, if you see to all the weekly candle chart pairs , you can see a bullish pattern from medium reliability to high reliability.
whether the world is exiting from this economic crisis that i can not see this exit or you have read news about exit from this economic...
hi hussin!

Apart from the fact that we see false movements every day, I think that there's nothing false in these bullish patterns your charts clearly show, they are simply a bear market short term and short covering bounces.
The question here is how long they can last (maybe longer than we imagine??)

Just because data are bad and worse than expected, the market knows (or optimistically believes) they can just improve in the future and investors temporarily cover the huge amount of shorts on risky stocks and riskier currencies.

I think it's also obvious that when they will start to see the next coming numbers, that could be worse than they expect or at least not showing those sign of improvement investors hope for, the dollar and the yen will be back to be safe heavens and maybe we could see new highs for them on their major pairs.

Personally I made a mistake, I am still long on the dollar, and I should have waited, since I have a feeling that this bear market rally could last for a few more weeks, with the markets that could ignore bad news to focus on the several governements' plans to stimulate the economic cycle.

On the other side I am also still convinced that this will still be a very good year for the greenback.
Let's wait and see, one thing is for sure, is a very interesting market and it pushes us to have a detailed short view of it as well....

Happy trading!
  • #4,764
  • Feb 8, 2009 8:24am Feb 8, 2009 8:24am
Quoting Bones
Husssin could you advise on the USDLFX? Weekly
hi Tony
good evening from Tehran
i can see a bearish long legged doji and then a forming bearish pattern.
maybe a bearish abandoned baby pattern . maybe this weekly pattern do a good work , for a test in 9050 or 9000 but this points are tangent with weekly trend line . in the main we can see a fall and then a up again for USD LFX . but speed fall will be more in EUR LFX or AUD LFX ,... then USD LFX.
my system is showing these index me:
i will enter to market on Tue
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  • #4,765
  • Feb 8, 2009 8:36am Feb 8, 2009 8:36am
hussin...
any prediction on EUR/USD for next week..
tq
Quoting hussin naiji
hi Tony
good evening from Tehran
i can see a bearish long legged doji and then a forming bearish pattern.
maybe a bearish abandoned baby pattern . maybe this weekly pattern do a good work , for a test in 9050 or 9000 but this points are tangent with weekly trend line . in the main we can see a fall and then a up again for USD LFX . but speed fall will be more in EUR LFX or AUD LFX ,... then USD LFX.
my system is showing these index me:
i will enter to market on Tue
  • #4,766
  • Feb 8, 2009 8:37am Feb 8, 2009 8:37am
Good Afternoon Bro
Yes Hussin this is my view on the the USDLFX,will fall further ,and of course the trend for the $ is very likely to be respected...

Thanks for confirming

Tony
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #4,767
  • Feb 8, 2009 8:43am Feb 8, 2009 8:43am
Quoting fammira
hi hussin!

Apart from the fact that we see false movements every day, I think that there's nothing false in these bullish patterns your charts clearly show, they are simply a bear market short term and short covering bounces.
The question here is how long they can last (maybe longer than we imagine??)

Just because data are bad and worse than expected, the market knows (or optimistically believes) they can just improve in the future and investors temporarily cover the huge amount of shorts on risky stocks and riskier currencies.

I think it's also...
hi fammira
agree with your point of view .
in fact my purpose is that we still have don't seen a bottom for pairs.
i think in a downtrend we must see some corrections . these correction are normal and agreeable with trader's psychology.
hi fammira , assigning best point for enter is very hard
thanks for your post
hussin
  • #4,768
  • Feb 8, 2009 8:53am Feb 8, 2009 8:53am
Quoting alimamak
hussin...
any prediction on EUR/USD for next week..
tq
good morning
i think now you waken up
im speaking during in the past hours for weekly candlestick analysis .
now you say to me that hussin was a man or a woman(a Persian proveb )
please look to ago pages in the daily candle chart thread.
have a nice time for you
hussin
  • #4,769
  • Feb 8, 2009 8:58am Feb 8, 2009 8:58am
Quoting hussin naiji
hi fammira
agree with your point of view .
in fact my purpose is that we still have don't seen a bottom for pairs.
i think in a downtrend we must see some corrections . these correction are normal and agreeable with trader's psychology.
hi fammira , assigning best point for enter is very hard
thanks for your post
hussin
also agree that the downtrend will resume at one stage sooner or later
maybe we will see more new lows

very likey indeed some pairs have bottomed already (ie I don't think that we will see new higs on EURGBP)
  • #4,770
  • Feb 8, 2009 9:22am Feb 8, 2009 9:22am
but weekly candle chart CHF LFX
in the first time i must say you that we have seen a good work by shooting star in the past weeks (of course in H4)
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  • #4,771
  • Feb 8, 2009 9:30am Feb 8, 2009 9:30am
Quoting hussin naiji
but weekly candle chart CHF LFX
in the first time i must say you that we have seen a good work by shooting star in the past weeks (of course in H4)
in the monthly candle chart CHF LFX , now we can see a confirmation for Kabuse pattern of course in this time (2009.02.08)
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  • #4,772
  • Feb 8, 2009 9:31am Feb 8, 2009 9:31am
Quoting fammira
also agree that the downtrend will resume at one stage sooner or later
maybe we will see more new lows

very likey indeed some pairs have bottomed already (ie I don't think that we will see new higs on EURGBP)
%100
  • #4,773
  • Feb 8, 2009 2:04pm Feb 8, 2009 2:04pm
I was thinking 1.6400 would be a good target
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #4,774
  • Feb 8, 2009 2:26pm Feb 8, 2009 2:26pm
Quoting Bones
I was thinking 1.6400 would be a good target
i think that 1.64 = 50 ma
whether this is a evening shooting star pattern ?
but we have a open price under close of previous candle !
in this point distinction is hard me
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  • #4,775
  • Feb 8, 2009 2:36pm Feb 8, 2009 2:36pm
but in the weekly candle chart USDCHF , we can read other story .
for previous week , we have seen a classic hanging man pattern and even after this candle we can see a bearish formation (long legged doji)
whether power of buyers are diminishing ?
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  • #4,776
  • Feb 8, 2009 2:38pm Feb 8, 2009 2:38pm
but weekly candle chart CAD LFX & USDCAD
  • #4,777
  • Feb 8, 2009 3:12pm Feb 8, 2009 3:12pm
Hussin I have a question re the 3 line strike you mention here as the 4th days candle dose not close above the first candle?


Quoting hussin naiji
i can see a bearish continuation pattern
a bearish three line strike
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #4,778
  • Feb 8, 2009 3:29pm Feb 8, 2009 3:29pm
Quoting Bones
Hussin I have a question re the 3 line strike you mention here as the 4th days candle dose not close above the first candle?
this pattern is low reliability
this pattern is a bearish continuation pattern
in fact combination a bearish 3 crows + long red of bozu will give us a bearish 3 line strike pattern.
long red of bozu show us a cover positions by buyers.
professional traders will go for again short of course with see a
confirmation.
in fact appearance this pattern in a downtrend is confirmation for continue downtrend .
  • #4,779
  • Feb 8, 2009 3:32pm Feb 8, 2009 3:32pm
Quoting hussin naiji
this pattern is low reliability
this pattern is a bearish continuation pattern
in fact combination a bearish 3 crows + long red of bozu will give us a bearish 3 line strike pattern.
long red of bozu show us a cover positions by buyers.
professional traders will go for again short of course with see a
confirmation.
in fact appearance this pattern in a downtrend is confirmation for continue downtrend .
close price of long red of bozu must be near open price of one day .
confirmation for this pattern must be(at least) a medium red of bozu . dojis are no important for confirmation .
  • #4,780
  • Feb 8, 2009 3:34pm Feb 8, 2009 3:34pm
Quoting hussin naiji
close price of long red of bozu must be near open price of one day .
confirmation for this pattern must be(at least) a medium red of bozu . dojis are no important for confirmation .
but forming a bearish 3 line strike is different in FX market and equity market
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