Hi dear friend,
I think yesterdays candle was a special kind of harami (without body)
Down we go 1.57
- #7,433
- Apr 28, 2009 9:34am Apr 28, 2009 9:34am
- | Joined Jan 2009 | Status: Cesco | 1,140 Posts
yes
- #7,434
- Apr 28, 2009 10:45am Apr 28, 2009 10:45am
- Joined Oct 2007 | Status: Trader | 3,461 Posts
I see main direction, but slow traders like me need a second chance for better entry, and I have 4 h candles on my side giving argument to wait for a better short entry.
I wait for pullback to trendline, then I enter short with candle confirmation.
- #7,435
- Apr 28, 2009 10:56am Apr 28, 2009 10:56am
- Joined Oct 2007 | Status: Trader | 3,461 Posts
we should watch this current 4 h candle on the usdlfx very closely.
It doesn´t matter, if we get a daily doji. We have seen this in the past for example for gold. The explanation for the doji at this area is quit simple:
Traders see this international traffic signal "bullish engulfing candle". The bulls have been so optimistic, that price moved higher then the day before, but then came bears and said: come on, no, we wan´t 50 % back: And bulls said: Okay, why not, this gives us a better entry point with lower prices for a long.
This is thinking behind a doji after a bullish engulfing candle (I think).
You see, candlesticks tells story.
It doesn´t matter, if we get a daily doji. We have seen this in the past for example for gold. The explanation for the doji at this area is quit simple:
Traders see this international traffic signal "bullish engulfing candle". The bulls have been so optimistic, that price moved higher then the day before, but then came bears and said: come on, no, we wan´t 50 % back: And bulls said: Okay, why not, this gives us a better entry point with lower prices for a long.
This is thinking behind a doji after a bullish engulfing candle (I think).
You see, candlesticks tells story.
- #7,436
- Apr 28, 2009 10:59am Apr 28, 2009 10:59am
- Joined May 2008 | Status: dynamic | 2,412 Posts
Invincibility lies in the defence, the possibility of victory in the attack
- #7,437
- Apr 28, 2009 11:06am Apr 28, 2009 11:06am
- Joined Nov 2007 | Status: beginner | 7,828 Posts
we should watch this current 4 h candle on the usdlfx very closely.
It doesn´t matter, if we get a daily doji. We have seen this in the past for example for gold. The explanation for the doji at this area is quit simple:
Traders see this international traffic signal "bullish engulfing candle". The bulls have been so optimistic, that price moved higher then the day before, but then came bears and said: come on, no, we wan´t 50 % back: And bulls said: Okay, why not, this gives us a better entry point with lower prices for a long.
This is...
- #7,439
- Apr 28, 2009 11:12am Apr 28, 2009 11:12am
- Joined Oct 2007 | Status: Trader | 3,461 Posts
peaches, our gold and silver short went well, what happened with your positions there, why lose money on the chf?
my gold was closed with profit far to early. I choosed 900 for target.
Well, everybody, who has entered chf/lfx short yesterday must be in red position, but my trading plan was to trust the large bearih engulfing candle and knowing every aticon has reaction in forex (so after large bearish move, we must see a bullis retrace). But I wan´t a better short entry. So lets sit and wait, if price turned short (not in the candles yet), but I have the back of the brocken trendline plus a fibo-level +plus a round number on my side.
Oh, not to mention the large bearish daily candle.