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Daily candle chart

  • #5,081
  • Feb 14, 2009 9:21am Feb 14, 2009 9:21am
GBP_USD Spot.png

Hussin is these 2 Day chart a Bearish engulfing pattern?

baz
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  • #5,082
  • Feb 14, 2009 9:22am Feb 14, 2009 9:22am
EUR LFX (weekly)
  • #5,083
  • Feb 14, 2009 9:23am Feb 14, 2009 9:23am
This post is about upper long wick in candles as well as its usual appearance following news impct against the trend....

As posted previously GBP/LFX had a move with news and DOW reacting similarly but the candlesticks show us right direction ...
Here is what you see The Obama speech on thursday in last hrs of market closing for DOW we saw a move on dow covering from -234 to -6
so we had the upmove on all GBP pairs due to dollar weakness...

This being followed we saw the expected move that takes with such impact the next day we can see that the GBP tried hitting previous support turned resistance hit and sellers entered there showing us long upper wick and that indicates we are right on trend with shorts..
I would though advice to wait for sunday open as we expect a gap giving us better entry ...

Hussin please forgive me if this post doesnt belong to candlestick analysis...
But wanted to talk abt news impact and then candlestick pattern with long upper wick..

Regards
Pipshower
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  • #5,084
  • Feb 14, 2009 9:59am Feb 14, 2009 9:59am
Quoting hussin naiji
EUR LFX (weekly)
in the weekly candle chart EUR LFX with a view maybe you see a bullish inverted hammer.
but we know that a spinning top is a neutral reversal /continuation pattern with low reliability .
the spinning tops are worthless in a sideways market.(please look to daily candle chart EUR LFX . only you can see a series dojis
i think that dojis are not good for confirmation .
2.47 is on table
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  • #5,085
  • Feb 14, 2009 10:01am Feb 14, 2009 10:01am
Quoting hussin naiji
in the weekly candle chart EUR LFX with a view maybe you see a bullish inverted hammer.
but we know that a spinning top is a neutral reversal /continuation pattern with low reliability .
the spinning tops are worthless in a sideways market.(please look to daily candle chart EUR LFX . only you can see a series dojis
i think that dojis are not good for confirmation .
2.47 is on table
but EURUSD (weekly-fx)
  • #5,086
  • Feb 14, 2009 10:18am Feb 14, 2009 10:18am
Hey Baz
Well there is no follow through (confirmation)for that engulfing ,if you look at the next 2 days ,your probably tell my orientation to this pair by now,lol

Quoting baz
GBP_USD Spot.png

Hussin is these 2 Day chart a Bearish engulfing pattern?

baz
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #5,087
  • Feb 14, 2009 10:21am Feb 14, 2009 10:21am
Actually im not bullish on the pound more sideways.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #5,088
  • Feb 14, 2009 10:27am Feb 14, 2009 10:27am
Quoting Bones
Hey Baz
Well there is no follow through (confirmation)for that engulfing ,if you look at the next 2 days ,your probably tell my orientation to this pair by now,lol
thanks mate
the new 2 day will start on Tuesda,so after monday will have a better View.

baz
  • #5,089
  • Feb 14, 2009 10:38am Feb 14, 2009 10:38am
Quoting pkimnyc
hussin,

need your help.
am i looking @ this correctly?
should this be bullish? i don't know what to make out from this.
thank you in advance.
hi pkimnyc
who said to you that this is a bullish morning star pattern ??
  • #5,090
  • Feb 14, 2009 10:40am Feb 14, 2009 10:40am
Quoting hussin naiji
hi pkimnyc
who said to you that this is a bullish morning star pattern ??
maybe bullish morning star have changed in 2009 and i don'd know .
where are you (Homa) ?
where are you (Homa) ?
  • #5,091
  • Feb 14, 2009 10:42am Feb 14, 2009 10:42am
Quoting hussin naiji
maybe bullish morning star have changed in 2009 and i don'd know .
where are you (Homa) ?
where are you (Homa) ?
not every thing that is round is a walnut
  • #5,092
  • Feb 14, 2009 10:43am Feb 14, 2009 10:43am
Quoting hussin naiji
hi pkimnyc
who said to you that this is a bullish morning star pattern ??
just an observation. that thing looked like a morning star.
wasn't sure, that's why i was asking you. hehe.
  • #5,093
  • Feb 14, 2009 10:50am Feb 14, 2009 10:50am
Quoting Bones
Hey Baz
Well there is no follow through (confirmation)for that engulfing ,if you look at the next 2 days ,your probably tell my orientation to this pair by now,lol
GBP_USD Spot.png

hi Hussin ,Bones
does this Qualify as a Bearish Engulfing pattern

baz
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  • #5,094
  • Feb 14, 2009 10:52am Feb 14, 2009 10:52am
Quoting pkimnyc
hussin,

would you mind sharing your view on geppy please?

thanks in advance.
ok but in the next hours
  • #5,095
  • Feb 14, 2009 10:56am Feb 14, 2009 10:56am
Quoting hussin naiji
ok but in the next hours


thank you.
  • #5,096
  • Feb 14, 2009 11:01am Feb 14, 2009 11:01am
Quoting baz
GBP_USD Spot.png

hi Hussin ,Bones
does this Qualify as a Bearish Engulfing pattern

baz
This is not a bearish engulfing pattern...
Bearish Engulfing Pattern is a large black real body, which engulfs a small white real body in an uptrend (it need not engulf the shadows). The Bearish Engulfing Pattern is an important top reversal signal.
See here for the correct presentation
Attached Image
  • #5,097
  • Feb 14, 2009 11:06am Feb 14, 2009 11:06am
Quoting Pipshower
This is not a bearish engulfing pattern...
Bearish Engulfing Pattern is a large black real body, which engulfs a small white real body in an uptrend (it need not engulf the shadows). The Bearish Engulfing Pattern is an important top reversal signal.
See here for the correct presentation
thank you

baz
  • #5,098
  • Feb 14, 2009 11:15am Feb 14, 2009 11:15am
Baz this is how I see the Pound ,I know its contrarian.
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #5,099
  • Feb 14, 2009 11:24am Feb 14, 2009 11:24am
Quoting Bones
Baz this is how I see the Pound ,I know its contrarian.
are you considering BUYING at the 50% fibo,assuming PA confirms.?

baz
  • #5,100
  • Feb 14, 2009 11:26am Feb 14, 2009 11:26am
Quoting baz
are you considering BUYING at the 50% fibo,assuming PA confirms.?

baz
sorry,i just saw price already hit 50%,so you either LONG or waiting.

baz
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