Invincibility lies in the defence, the possibility of victory in the attack
- #5,782
- Mar 16, 2009 11:49am Mar 16, 2009 11:49am
- Joined Nov 2007 | Status: left CanaryWharf desk-tea break | 24,286 Posts
On-site guru & also FF member's' psychiatrist, when not drinking tea
- #5,783
- Mar 16, 2009 12:29pm Mar 16, 2009 12:29pm
- Joined Oct 2007 | Status: Trader | 3,461 Posts
weekly harami
330 next?
We now, that dollar moves opposite direction of dow jones and S&P500
- #5,784
- Mar 16, 2009 12:36pm Mar 16, 2009 12:36pm
- Joined Oct 2007 | Status: Trader | 3,461 Posts
I have taken the usd cad short from Saturdays analysis ,this morning,I know this can be a cheeky pair but ....
Could have to wait for sell higher up.
A doji often is a signal for a change in bias, BUT from my experience, if a doji is not successfull, this is a signal too
I have seen daily doji broken, so I would not be suprised, if this 4 h is broken. Would be usd/cad style.
- #5,787
- Mar 16, 2009 5:40pm Mar 16, 2009 5:40pm
- | Joined Aug 2007 | Status: I keep my eyes open | 1,108 Posts
Hi silver, I just have had the idea to look at the dow jones industrial index and the S&P500, both weekly charts give me a bullish engulfing candle :-)
We now, that dollar moves opposite direction of dow jones and S&P500
One Chart is Worth Ten Thousand Words.
hi dear husin, peaches n all... 
ill be just sitting n watching for bby GJ right now. will start considering short if price goes smwhere below 137.45... at the moment price sitting nicely on sma 100 tf h4. so we will see ... just what im seeing right now hehe
ill be just sitting n watching for bby GJ right now. will start considering short if price goes smwhere below 137.45... at the moment price sitting nicely on sma 100 tf h4. so we will see ... just what im seeing right now hehe
- #5,789
- Mar 16, 2009 8:20pm Mar 16, 2009 8:20pm
- | Joined Oct 2007 | Status: work in progress | 1,009 Posts
Peaches, if you combine the bars you highlighted, you'll get a... W2 pinbar!
there are many pinbar threads in forex factory that you can join and share with others
Thanks for understanding
Don't chase the market, Let the market come to you
- #5,791
- Mar 17, 2009 1:39am Mar 17, 2009 1:39am
- Joined Oct 2007 | Status: Trader | 3,461 Posts
hi all, peaches, bones and hussin and everyone on here...been a little while i posted here, good to see that bones is back.
for EURUSD PAIR, i am bullish on this pair till 1.3092 seeing that as a resistance level , which is the high of daily candle of 9th of february.
so am i right or wrong about this? advices highly welcomed.
you are right about this price as a level of something special interest. But nobody could now, if this level will be broken or will held as resistance, because nobody could look in the future. It was resistance sometimes in the future, yes, but I think we have a three inside up pattern on the weekly. This is a high reliable pattern. So this 3 inside up pattern happend in the past, I am still bullish until I see bearish daily candle in areas with special interest in 1,30, 1,33 and 1,37.
But with beginning US session we should have a look at the dow jones which has a bearish shooting star yesterday, so this might turn around eur/usd for one or 2 days or sideway movement.
- #5,793
- Mar 17, 2009 4:52am Mar 17, 2009 4:52am
- | Joined Aug 2007 | Status: I keep my eyes open | 1,108 Posts
but pinbars are not traded in this thread, it is for daily candlestick analysis only as thread title says
there are many pinbar threads in forex factory that you can join and share with others
Thanks for understanding
Pinbar is a hammer/shooting star (depending on where it occurs). When you "combine" (i.e. read as one) two D1 candles you get a D2 candle (same principle applies to any TF). Why would someone ignore strong reversal patterns when performing an analysis?..
One Chart is Worth Ten Thousand Words.
- #5,794
- Mar 17, 2009 5:51am Mar 17, 2009 5:51am
- Joined Nov 2007 | Status: left CanaryWharf desk-tea break | 24,286 Posts
Hi Forex2007,
We don’t ignore these signals just label them differently I suppose. A two day pin bar as you put it is already a pattern that has been used for over 400 years a Piercing Line or Dark Cloud cover as we would label in this room.
I think if you use the correct terminology it would be less confusing for those following, as tmac has pointed out.
PS I have also made the mistake in the past of introducing this type of trading here that I also believe in ….but I work hard now to try keep on track as Hussin would like.
We don’t ignore these signals just label them differently I suppose. A two day pin bar as you put it is already a pattern that has been used for over 400 years a Piercing Line or Dark Cloud cover as we would label in this room.
I think if you use the correct terminology it would be less confusing for those following, as tmac has pointed out.
PS I have also made the mistake in the past of introducing this type of trading here that I also believe in ….but I work hard now to try keep on track as Hussin would like.
On-site guru & also FF member's' psychiatrist, when not drinking tea
- #5,795
- Mar 17, 2009 8:03am Mar 17, 2009 8:03am
- | Joined Oct 2007 | Status: work in progress | 1,009 Posts
I thought D1 analysis includes candlestick patterns too...
When you "combine" (i.e. read as one) two D1 candles you get a D2 candle (same principle applies to any TF). Why would someone ignore strong reversal patterns when performing an analysis?..
nobody is ignoring a reversal pattern but your original post said nothing about candle sticks, it was a pinbar post and pinbars are not traded in this thread.
hussin has made it clear more than once if you have read through the thread that pinbar analysis is not wanted in his thread.
it is nothing personal
it is just trying to keep the thread on track with the subject ONLY
daily candle charts...candle being the key
Hussin has not posted here for awhile, for a long time people came here.. read and said thanks for the awesome analysis he provided..........he welcomes like analysis but over time there started to get more and more people posting many things other than what the thread was intended for.
what this does is make for lots of scrolling through lots of BS posts to get to the meat of the analysis and a waste of time
look back at the beginning and what do you see??
post after post page after page of CANDLE stick analysis with CLEAN pages free from clutter, that made for a nice thread, easy to follow as Hussin intended
lets respect the wishes of the threads creator and keep it that way and maybe we will see him back more
If you have a daily candle chart to share with candle stick analysis then share but if not then please do not post other than to give a thanks for the work done here.
it really is simple
bones and peaches thanks to you for your work as well, you guys have stepped up and its appreciated
Don't chase the market, Let the market come to you
- #5,796
- Mar 17, 2009 2:44pm Mar 17, 2009 2:44pm
- Joined Oct 2007 | Status: Trader | 3,461 Posts
Hi bj,
first, I think one lesson I have learned since spring 2007 (the beginning
my forex journey), I think most importend is not to have a look at the candle, which is under developement. I have seen a daily candle -which was clear until the last minute of the day. In this minute a news come out-in fact aud interest rate if i remember right - and daily pattern was distroyed. So don´t judge a monthly candle, until the month is done.
For example this month, you may only take notice of february candle.
Well, the GU is not good for a trade at the moment, because price is relationship between pound and usd. If both ("G" and "U") are bearish, the pair "GU" is not moving that much (infact result should be a doji). You will get better results, if you pick a pair which one part is bullish (euro for example), and the other is bearish (usd at the moment).
To pick the direction of one currency the lite forex is good. Lite forex represent a currency and its relationship against the basked of other currencys. So if you get lfxeur up and lfxusd down, you get the eur/usd up.
Try lfx http://www.liteforex.org/ at the lower leftside of the website.
Example for lfxusd attached. You see the usd-weekly with a high wave candle followed by a bearish candle, which is indicating bearish pressure (it is not a shooting star imho, because it doesn´t appear at the end of an uptrend, but candles often aren`t from the textbook).
GU might have a pircing line on the 4 chart atm, and turning bullish/sideway.
Ohh...sorry, so much writing.
first, I think one lesson I have learned since spring 2007 (the beginning
my forex journey), I think most importend is not to have a look at the candle, which is under developement. I have seen a daily candle -which was clear until the last minute of the day. In this minute a news come out-in fact aud interest rate if i remember right - and daily pattern was distroyed. So don´t judge a monthly candle, until the month is done.
For example this month, you may only take notice of february candle.
Well, the GU is not good for a trade at the moment, because price is relationship between pound and usd. If both ("G" and "U") are bearish, the pair "GU" is not moving that much (infact result should be a doji). You will get better results, if you pick a pair which one part is bullish (euro for example), and the other is bearish (usd at the moment).
To pick the direction of one currency the lite forex is good. Lite forex represent a currency and its relationship against the basked of other currencys. So if you get lfxeur up and lfxusd down, you get the eur/usd up.
Try lfx http://www.liteforex.org/ at the lower leftside of the website.
Example for lfxusd attached. You see the usd-weekly with a high wave candle followed by a bearish candle, which is indicating bearish pressure (it is not a shooting star imho, because it doesn´t appear at the end of an uptrend, but candles often aren`t from the textbook).
GU might have a pircing line on the 4 chart atm, and turning bullish/sideway.
Ohh...sorry, so much writing.
[b]halo peaches, thanx for helping me out.
at the moment, i am looking closely at the GBPUSD....
- #5,797
- Mar 17, 2009 3:56pm Mar 17, 2009 3:56pm
- Joined Nov 2007 | Status: left CanaryWharf desk-tea break | 24,286 Posts
Hi bj,
first, I think one lesson I have learned since spring 2007 ....
..
Ohh...sorry, so much writing.
On-site guru & also FF member's' psychiatrist, when not drinking tea
- #5,798
- Mar 17, 2009 4:49pm Mar 17, 2009 4:49pm
- | Joined Aug 2007 | Status: I keep my eyes open | 1,108 Posts
Hi Forex2007,
We don’t ignore these signals just label them differently I suppose. A two day pin bar as you put it is already a pattern that has been used for over 400 years a Piercing Line or Dark Cloud cover as we would label in this room.
This example is not ideal, but if you imagine that the second (green) candle closed below Open of the 1st (red) candle, then you'd get Harami ("simple" indecision) in a conventional bar-by-bar analysis; yet you still get a "Hammer" in a combined way - http://www.forexfactory.com/showpost...postcount=5620
My apologies for not using "classic" terminology. I didn't realise that calling an "earth moving equipment" a "spade" would case an offence (just kidding
).
One Chart is Worth Ten Thousand Words.
- #5,799
- Mar 17, 2009 5:31pm Mar 17, 2009 5:31pm
- Joined Nov 2007 | Status: left CanaryWharf desk-tea break | 24,286 Posts
Forex you know that is already a 2 day pattern in candles ,infact we have 3 and more patterns...
Really I think it is only terminology thats the issue,it is best to call a spade a spade to save the fork being used incorrectly...
Really I think it is only terminology thats the issue,it is best to call a spade a spade to save the fork being used incorrectly...
On-site guru & also FF member's' psychiatrist, when not drinking tea
- #5,800
- Mar 17, 2009 5:43pm Mar 17, 2009 5:43pm
- Joined Nov 2007 | Status: left CanaryWharf desk-tea break | 24,286 Posts
On-site guru & also FF member's' psychiatrist, when not drinking tea