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Daily candle chart

  • #7,101
  • Apr 23, 2009 10:22am Apr 23, 2009 10:22am
Quoting peaches
Hello dear traders from a nice sunny day here in north germany.

I like to share some charts including patterns and trading strategy.
Hi Peaches! I'm glad to see you, the trading is pretty well so far
"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
  • #7,102
  • Apr 23, 2009 10:26am Apr 23, 2009 10:26am
First chart is gold.

After a small down move we see a nice green candle,
which opens above the close of the candle before. I have no name for this pattern. It is not an engulfing bullish candle, but nice opening above the
close of the bearish candle shows me power of bulls.

But after this candle, we see a kind of shooting star/doji daily candle.
This is irretating, because it shows us bears/indicision.

But if we look closer on 4 h chart, we see this doji/shooting star was made
of a fibo retracement. This, plus this shooting star / doji did not appear at the end of a trend, was a hint for bad shooting star/doji.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: gold4h.gif Size: 16 KB
  • #7,103
  • Apr 23, 2009 10:33am Apr 23, 2009 10:33am
On aud/lfx we see same phenomenon:

We see large bearish engulfing candle, but on next day,
we did not see a bearish fall, we see a retrace.

So, there is often enough time for a entry in the direction of the
pattern, most time there is a second or maybe third chance.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: audlfx.gif Size: 13 KB
Click to Enlarge Name: audlfx4h.gif Size: 21 KB
Click to Enlarge Name: audlfxweek.gif Size: 12 KB
  • #7,104
  • Apr 23, 2009 10:44am Apr 23, 2009 10:44am
First chart is the weekly german dax. Weekly is not closed, but
I think, we may see a weekly hanging man or even better a bearish engulfing
by friday.

Dax and eur/lfx move opposite to each other.

Yesterday we have seen this nice bullish daily candle with opening higher then close day before on eur/lfx.

On 4 h chart I watch now closely behavior of the candle at the fibo levels.
I wait until 4 h close, thats better for decison.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: dax.gif Size: 9 KB
Click to Enlarge Name: eurlfx.gif Size: 12 KB
Click to Enlarge Name: eurlfx4h.gif Size: 13 KB
Click to Enlarge Name: eurlfxweekgif.gif Size: 14 KB
  • #7,105
  • Apr 23, 2009 10:58am Apr 23, 2009 10:58am
usd/lfx.

We have seen a daily harami pattern, and on next day a full retrace (!).

But today the power of the harami pattern plays out.

If we watch higher time frames, we should keep in mind the nice monthly bearish engulfing.

Maybe there is a black friday or monday for the dollar lfx ?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdlfx.gif Size: 12 KB
Click to Enlarge Name: usdlfxweekly.gif Size: 13 KB
Click to Enlarge Name: usdlfxmonth.gif Size: 13 KB
  • #7,106
  • Apr 23, 2009 11:23am Apr 23, 2009 11:23am
thank you peaches, you were right

Quoting peaches
First chart is gold.

...

But after this candle, we see a kind of shooting star/doji daily candle.
This is irretating, because it shows us bears/indicision.

But if we look closer on 4 h chart, we see this doji/shooting star was made
of a fibo retracement. This, plus this shooting star / doji did not appear at the end of a trend, was a hint for bad shooting star/doji.
Invincibility lies in the defence, the possibility of victory in the attack
  • #7,107
  • Apr 23, 2009 1:15pm Apr 23, 2009 1:15pm
Quoting silverheat
thank you peaches, you were right
and best on it:

I exit gold long trade, because .... well. *thinking*

I was in long gold, but I was hit very hard with gold in the past, so I exit with small profit, long time, before long trend established. I would have made very good profit
  • #7,108
  • Apr 23, 2009 1:21pm Apr 23, 2009 1:21pm
$/lfx

where do we go from here ?
Attached Image (click to enlarge)
Click to Enlarge Name: usd.gif Size: 14 KB
  • #7,109
  • Apr 23, 2009 2:21pm Apr 23, 2009 2:21pm
lfx/jpy

I think its best stop trading, because there will be good analyses of weekly candles on weekend.

I see drop in lfx/jpy on my charts, but I see start rising usd/lfx to re-test trendline.

Green pips to all

PS: and I will not go long gold above 910 this week
Attached Image(s) (click to enlarge)
Click to Enlarge Name: jpy.gif Size: 14 KB
Click to Enlarge Name: usdlfx.gif Size: 14 KB
Click to Enlarge Name: gold.gif Size: 15 KB
  • #7,110
  • Apr 23, 2009 2:27pm Apr 23, 2009 2:27pm
Quoting peaches
lfx/jpy

I think its best stop trading, because there will be good analyses of weekly candles on weekend.

I see drop in lfx/jpy on my charts, but I see start rising usd/lfx to re-test trendline.

Green pips to all

PS: and I will not go long gold above 910 this week
Very nice analysis, as always Sir , I'll do the same, b/c:

All Day ALLG7 Meetings

The market will be a lil choppy tomorrow!
"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
  • #7,111
  • Apr 23, 2009 3:38pm Apr 23, 2009 3:38pm
GBP LFX looks quite bullish, no?
  • #7,112
  • Apr 23, 2009 11:19pm Apr 23, 2009 11:19pm
Quoting ezodisy
GBP LFX looks quite bullish, no?
I'm reading it a little differently at this moment in time.

The thick blue line is the bottom of the ascending triangle you've pointed out in previous posts.

On the H4, to me it looks like a test of the trendline, and then a cover by the bears, followed by a confirmation candle.

We also seem to be honouring a descending channel, at least for now.
Attached Image (click to enlarge)
Click to Enlarge Name: gbplfx.jpg Size: 128 KB
  • #7,113
  • Apr 23, 2009 11:40pm Apr 23, 2009 11:40pm
I'm going to stick my neck out, and post a few charts, in the hope that it'll be a useful learning aide for me, and others can correct me where I have misinterpreted the candles.

So, EURLFX H4,

We seem to have hit a top, and are unable to break through. A long white body, followed by two doji type candles at the top end of the long candle, suggests to me we may be at the end of the current bull run.

The daily, we have a short black candle, followed by a long white candle, followed by an indecisive candle. I've highlighted earlier in the downtrend where something similar occurred, perhaps history might repeat itself?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurh4.gif Size: 13 KB
Click to Enlarge Name: eurdaily.gif Size: 15 KB
  • #7,114
  • Apr 23, 2009 11:52pm Apr 23, 2009 11:52pm
We seem to be in consolidation here, moving between the two red lines, however, we do see a dark cloud cover on the H4, so it would seem reasonable to expect to test the bottom trendline.

The weekly currently looks very clear, although we still have today to deal with, so everything could change. At the moment, the weekly looks like we have a strong trend downwards.
Attached Image (click to enlarge)
Click to Enlarge Name: jpyh4.jpg Size: 118 KB
  • #7,115
  • Apr 23, 2009 11:59pm Apr 23, 2009 11:59pm
Quoting daffy
We seem to be in consolidation here, moving between the two red lines, however, we do see a dark cloud cover on the H4, so it would seem reasonable to expect to test the bottom trendline.

The weekly currently looks very clear, although we still have today to deal with, so everything could change. At the moment, the weekly looks like we have a strong trend downwards.
dark cloud cover, very good. I wasn´t able to see this, because I was sleeping, but it is right.
  • #7,116
  • Apr 24, 2009 12:11am Apr 24, 2009 12:11am
Quoting daffy
I'm going to stick my neck out, and post a few charts, in the hope that it'll be a useful learning aide for me, and others can correct me where I have misinterpreted the candles.

So, EURLFX H4,

We seem to have hit a top, and are unable to break through....
We should take doji, what it is: indicison.

The question is, if this 4 hour candle I marked in the eurlfx, was good enough for the late bulls as a second chance, or if it will retrace more, to get a better bull position ?

Answer might come from dax.

I overlayed eur/lfx and dax and you see, stock market and eur/lfx move opposite. So current 4 h dax candle is clearer, then indicision eur/lfx.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurlfx.gif Size: 19 KB
Click to Enlarge Name: eurlfx4h.gif Size: 12 KB
  • #7,117
  • Apr 24, 2009 12:12am Apr 24, 2009 12:12am
Unchanged on the usdlfx it seems. Bit of interest from the bulls, but it seems to have been covered by the bears with the following candle.
Attached Image (click to enlarge)
Click to Enlarge Name: usdh4.gif Size: 13 KB
  • #7,118
  • Apr 24, 2009 12:28am Apr 24, 2009 12:28am
Quoting daffy
Unchanged on the usdlfx it seems. Bit of interest from the bulls, but it seems to have been covered by the bears with the following candle.
if we go lower as where we are, we see free fall for dollar/lfx...

Nice trading everyone, I have to go to work now.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usd.gif Size: 15 KB
Click to Enlarge Name: usdday.gif Size: 13 KB
  • #7,119
  • Edited 1:29am Apr 24, 2009 12:49am | Edited 1:29am
good morning from Tehran
  • #7,120
  • Apr 24, 2009 12:53am Apr 24, 2009 12:53am
Quoting hussin naiji
also FX (USDCHF ) confirm this n umber
sellers have pay attention to 1410 or 1420
these points are for exit
Attached Image(s) (click to enlarge)
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