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Daily candle chart

  • #5,961
  • Mar 24, 2009 2:19pm Mar 24, 2009 2:19pm
I like to draw your attention, to the CAD. We have diskussed here before, but right now, the USD/CAD is on the edge, because it is sitting on a major supporting trendline.

So how could candlestick give us information for further direction of Cad ?

The daily cadlfx: Some may say this is a sideway movement,
but the three daily candles i marked are a bullish indication imho.

bullish or bearish, 3 h left for daily close ?

It is a difficult decison, because daily is sitting on this major support line.

But watch weekly candles, the weekly was a bullish engulfing at the top, and think, what will happen on monthly, if this support line breaks during asia session or tommorrow. We will have a monthly bearish engulfing candle. But wait for monthly close, before wishfull thinking.
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  • #5,962
  • Mar 24, 2009 4:05pm Mar 24, 2009 4:05pm
good morning all

on the daily chf/jpy this would be a shooting star,it bounced of a good resistance level,so we would have to wait for conformation of this candle ,would this be right to has not closed yet

thanks john
Attached Image
  • #5,963
  • Mar 24, 2009 4:23pm Mar 24, 2009 4:23pm
LFXJPY looks interesting.

Shooting star on the daily? Dark cloud cover on 4h?
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  • #5,964
  • Mar 24, 2009 4:54pm Mar 24, 2009 4:54pm
Hi John it certainly should be on our radar,its interesting to see that the JPY is doing the work here which clearly shows in Daffys daily jpylfx.

Im still thinking the chf will weaken tho??it has been quite today.

Quoting desperate
good morning all

on the daily chf/jpy this would be a shooting star,it bounced of a good resistance level,so we would have to wait for conformation of this candle ,would this be right to has not closed yet

thanks john
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #5,965
  • Mar 24, 2009 5:17pm Mar 24, 2009 5:17pm
hi

would this be classed as a bearish dark cloud cover ,has not closed yet but if it closes below the mid point

thanksjohn
Attached Image
  • #5,966
  • Mar 24, 2009 6:04pm Mar 24, 2009 6:04pm
Yep that would be correct,also nzdusd

Quoting desperate
hi

would this be classed as a bearish dark cloud cover ,has not closed yet but if it closes below the mid point

thanksjohn
Attached Image (click to enlarge)
Click to Enlarge Name: 110) nzdusd daily,24 march.gif Size: 15 KB
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  • #5,967
  • Edited 6:24pm Mar 24, 2009 6:13pm | Edited 6:24pm
It is possibly the time to sell the aud,
this looks more bullish than the aud usd bearish
Attached Image (click to enlarge)
Click to Enlarge Name: 111) gbpaud ,daily,24 march.gif Size: 13 KB
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  • #5,968
  • Mar 24, 2009 6:45pm Mar 24, 2009 6:45pm
Has had a bullisih day expect further rise.
Attached Image (click to enlarge)
Click to Enlarge Name: 150) gbplfx ,daily,24 march.gif Size: 19 KB
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  • #5,969
  • Mar 24, 2009 6:56pm Mar 24, 2009 6:56pm
Never followed through to the downside ,but still looks bearish,under 38.2 F
Attached Image (click to enlarge)
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  • #5,970
  • Mar 24, 2009 7:10pm Mar 24, 2009 7:10pm
Is tricky.
potential bearish set up ,I may regret saying this but I think false.
As long as FE61 holds I think trend intact.

Good night and good luck all,I have worked too many hours...
Attached Image (click to enlarge)
Click to Enlarge Name: 150) lfxjpy ,daily,24 march.gif Size: 19 KB
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  • #5,971
  • Mar 25, 2009 1:08am Mar 25, 2009 1:08am
Quoting Bones
Is tricky.
potential bearish set up ,I may regret saying this but I think false.
As long as FE61 holds I think trend intact.

Good night and good luck all,I have worked too many hours...
carfully with this shooting star on the yen.

Hussin said sometimes, sellers will start, if price breaks (goes below) the low of a daily shooting star. But also look at the last 4 h candle.

I have a big problem, to trade against the weekly trend.
Attached Image(s) (click to enlarge)
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  • #5,972
  • Mar 25, 2009 1:14am Mar 25, 2009 1:14am
notice bullish engulfing on 4h eur/usd chart at the bottom of the channel.

Don´t forget importend eur news today in calender.
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  • #5,973
  • Mar 25, 2009 2:13am Mar 25, 2009 2:13am
Quoting peaches
carfully with this shooting star on the yen.

Hussin said sometimes, sellers will start, if price breaks (goes below) the low of a daily shooting star. But also look at the last 4 h candle.

I have a big problem, to trade against the weekly trend.
hi peaches do u mean with the last 4 hr candle there is in decision
  • #5,974
  • Mar 25, 2009 7:12am Mar 25, 2009 7:12am
Quoting desperate
hi peaches do u mean with the last 4 hr candle there is in decision
yes.

look at those bodys of the last 4 h candles on the yen.

They are pretty small, this means opening price and close price during this time are very near by. Price is indicision where to go. If you see in a row of candles the bodys of the candles are getting smaller, there is nearly balance from buyers and sellers.

But we must notice the wicks of the candles too. As long as the lower wicks are going lower, the trend is going on. Trend will change, if lower wicks are getting higher, which we can not say for the current candle, because current candle is not closed yet. But maybe.
Attached Image (click to enlarge)
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  • #5,975
  • Mar 25, 2009 11:26am Mar 25, 2009 11:26am
Quoting baz
GBP_USD Spot.png

Tony.Peaches
can you confirm please or otherwise......is this a Harami Pattern ?

baz
I was reading a book and found this explanation af a harami. I think in your chart it was not a harami, but the effect was like a harami

"The harami pattern has a small body (black or white) that fits
completely into the big (black or white) body of the previous day. It is
not important whether the shadow of today’s small candlestick pattern
goes higher or lower than the previous candlestick shadow. The harami
pattern has greater importance if, at the end of a downtrend, today’s
small candlestick body is white, whereas the big candlestick body of the
previous day is black. The reversal signal is even stronger when today’s
candlestick body is very small. The harami pattern can be a bullish signal
after a downtrend or a bearish signal at the end of an uptrend."
Attached Image
  • #5,976
  • Mar 25, 2009 11:30am Mar 25, 2009 11:30am
Attached Image (click to enlarge)
Click to Enlarge Name: 4h.gif Size: 11 KB
Attached Image
  • #5,977
  • Mar 25, 2009 12:04pm Mar 25, 2009 12:04pm
nice call. I was short and got out for breakeven. thanks


Quoting peaches
  • #5,978
  • Mar 25, 2009 12:31pm Mar 25, 2009 12:31pm
Quoting advfntrader
nice call. I was short and got out for breakeven. thanks
coincident

no, honestly, I have learned not to trade against the trend of the higher timeframes (weekly). So sometimes best is not to trade, sometimes for days.

It seems, the euro has a lift off.... maybe a piercing line, but most importend this might give us by end of day a pattern which is made by 5 candles But again: to early to call for the daily candle.
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  • #5,979
  • Mar 25, 2009 1:50pm Mar 25, 2009 1:50pm
Quoting peaches
I was reading a book and found this explanation af a harami. I think in your chart it was not a harami, but the effect was like a harami

"The harami pattern has a small body (black or white) that fits
completely into the big (black or white) body of the previous day. It is
not important whether the shadow of today’s small candlestick pattern
goes higher or lower than the previous candlestick shadow. The harami
pattern has greater importance if, at the end of a downtrend, today’s
small candlestick body is white, whereas the big...
thanks peaches......keep up the Excellent analysis .....
but the chart i showed,is there any CandleStick pattern there ?

baz
  • #5,980
  • Mar 25, 2009 3:14pm Mar 25, 2009 3:14pm
Hi!
Just a simple ( & silly) question: ¿how are daily bars set: from 00:00 AM to 11:59 PM or from 17:15 to 16:59? (all US eastern time)
In first case, a daly bar is created with only 6 3/4 hours on sunday...
Thanks!
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