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Daily candle chart

  • #7,541
  • May 4, 2009 4:07pm May 4, 2009 4:07pm
hi analizer,

the problem with candlestickanalysis in forex is there is seldom a gap between days, only from friday to monday, or on rare occasions, therfore many patterns that are obvious in the stockmarket with its daily gaps are not 1:1 identical to forex, nor is there ever a perfect pattern in "real life" of the market. i believe hussin has worked hard in gaining the experience to recognize a pattern that is not so obvious to the beginner. it will come with time i guess, it has to "sink in" through observation of a pattern, then following in and how it worked out when you bet your own money on them. just looking over is easy but are you confident enough to bet your money on it? i seldom do, only on pattern where i can trust my own discretion, for me that are a few: shooting star, hanging man, hammer, inverted hammer, piercing line and dark cloud cover, thats all, but im learning
... well and morning/evening star too
Invincibility lies in the defence, the possibility of victory in the attack
  • #7,542
  • May 4, 2009 4:18pm May 4, 2009 4:18pm
The eur/lfx is in a stupid range for 4 days, but this will change I think.
Attached Image (click to enlarge)
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  • #7,543
  • May 4, 2009 4:21pm May 4, 2009 4:21pm
Quoting daffy
$ is looking quite bearish now, at time of writing, it seems as if we're going to get a close below last week's low.

GBPLFX looks interesting. On the daily we have a bearish harami, closing under resistance. I'd like to see confirmation though, given the low volume day we have had.
Exactly, this is it. Confirmation for me, would be, if price falls below the area I marked.
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  • #7,544
  • May 4, 2009 4:21pm May 4, 2009 4:21pm
Quoting peaches
The eur/lfx is in a stupid range for 4 days, but this will change I think.
Looks like bullish pattern that could break to the top. We'll have to see tomorrow if momentum keeps steady.
  • #7,545
  • May 4, 2009 4:24pm May 4, 2009 4:24pm
At an area where it should appear, we a nice candle on lfxjpy.

I think we might call this a white spinning top. Again I wait for confirmation, one way or the other.
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  • #7,546
  • May 4, 2009 4:29pm May 4, 2009 4:29pm
Quoting MackS10
Looks like bullish pattern that could break to the top. We'll have to see tomorrow if momentum keeps steady.
Yes, I can not find a word or pattern for it, but my "feeling" is hussin is right again. It looks like a combination I have seen with cadlfx a few days before:
2 bearish days, followed by bull-one. Look at cad, what happened.

Good night
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  • #7,547
  • May 4, 2009 5:17pm May 4, 2009 5:17pm
I think at this time its better to look for longs.
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #7,548
  • May 5, 2009 5:54am May 5, 2009 5:54am
eur/usd 4h:

A 4h doji appears at a 50% fibo retracement.

Looks bullish until 1.3670.
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  • #7,549
  • May 5, 2009 6:06am May 5, 2009 6:06am
GU

Elvis has left the building to reach 1.53.

Sorry no analyses, I ám a bit in a hurry....
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  • #7,550
  • May 5, 2009 7:48am May 5, 2009 7:48am
Quoting peaches
GU

Elvis has left the building to reach 1.53.

Sorry no analyses, I ám a bit in a hurry....
Ah yes, the ol' Elvis has left the building bullish candlestick formation, I know it well.
  • #7,551
  • May 5, 2009 7:54am May 5, 2009 7:54am
Still an hour to go before this H4 closes, but ...

a sort of rising 3 methods on H4? It's not perfect, but ...
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  • #7,552
  • May 5, 2009 7:59am May 5, 2009 7:59am
Quoting daffy
Still an hour to go before this H4 closes, but ...

a sort of rising 3 methods on H4? It's not perfect, but ...
To reach 1.3670 we have maybe 3 marching soldiers

No access to charts, but I have the feeling pound is rising, euro is rising and dollar is falling

By the end of day we may have a close look at the cadlfx and lfx jpy candle.
  • #7,553
  • May 5, 2009 8:40am May 5, 2009 8:40am
Quoting peaches
To reach 1.3670 we have maybe 3 marching soldiers

No access to charts, but I have the feeling pound is rising, euro is rising and dollar is falling

By the end of day we may have a close look at the cadlfx and lfx jpy candle.
The pound is rising, it broke through the resistance level that's been holding it back the last few days. It is currently in a mini retrace, and I think it does need to retest the resistance now turned support to confirm, before heading on up to the next resistance level.

Euro seems to be in consolidation, ranging between a tight band at the moment. The bears keep pushing it down below resistance.

The dollar has made new lows, and EU has primarily been driven by dollar weakness.
  • #7,554
  • May 5, 2009 9:00am May 5, 2009 9:00am
Quoting daffy
The pound is rising, it broke through the resistance level that's been holding it back the last few days. It is currently in a mini retrace, and I think it does need to retest the resistance now turned support to confirm, before heading on up to the next resistance level.

Euro seems to be in consolidation, ranging between a tight band at the moment. The bears keep pushing it down below resistance.

The dollar has made new lows, and EU has primarily been driven by dollar weakness.
Thanx for the update
  • #7,555
  • May 5, 2009 9:09am May 5, 2009 9:09am
Quoting peaches
GU

Elvis has left the building to reach 1.53.

Sorry no analyses, I ám a bit in a hurry....
I agree... I see 5350 on the horizon...
Patience + Discipline - Greed = Success
  • #7,556
  • May 5, 2009 9:45am May 5, 2009 9:45am
Here's what I was talking about earlier with the £.

It would be nice if we retested the lower horizontal line, confirmed the break, and then went north again. Ofcourse it's also possible that we might fail the retest, in which case we're looking at a false breakout and we need to reevaluate.

EDIT: although there is another less stronger support visible on the hourly at the current level that might also hold, let's see.
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  • #7,557
  • May 5, 2009 11:02am May 5, 2009 11:02am
Quoting Infinity
I agree... I see 5350 on the horizon...
Hi Infinity

Nice to see you here, greetings
  • #7,558
  • May 5, 2009 11:05am May 5, 2009 11:05am
Quoting peaches
eur/usd 4h:

A 4h doji appears at a 50% fibo retracement.

Looks bullish until 1.3670.

Second invitation for the slow bulls, which are not on board yet.
Attached Image (click to enlarge)
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  • #7,559
  • May 5, 2009 11:08am May 5, 2009 11:08am
Quoting daffy
Here's what I was talking about earlier with the £.

It would be nice if we retested the lower horizontal line, confirmed the break, and then went north again. Ofcourse it's also possible that we might fail the retest, in which case we're looking at a false breakout and we need to reevaluate.

EDIT: although there is another less stronger support visible on the hourly at the current level that might also hold, let's see.

Looks promissing, lower wick is build from steaming bulls.
Attached Image (click to enlarge)
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  • #7,560
  • May 5, 2009 11:20am May 5, 2009 11:20am
Just want to catch the moment, daily is not closed yet on lfxjpy, but I
for this at daily close.
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