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Daily candle chart

  • #7,581
  • May 5, 2009 4:16pm May 5, 2009 4:16pm
Not sure what to make of the euro.

We have a bearish engulfing on the daily, but we have seen an engulfing before in the last few days, and it's been stopped dead in its tracks by the line marked support. Granted, the engulfing pattern is not at the top of an uptrend, but it does signify that bears were in control for the day, and will certainly try to retain it for the following day.

I'd keep an eye on it, and if we make a clear break through the centre line, we could potentially have a 3 outside down.
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  • #7,582
  • May 5, 2009 4:24pm May 5, 2009 4:24pm
The daily GBPLFX looks bullish, and on course for the red line. The H4 chart though, gives us a warning that we may see retrace. Dual hammers, tweezer top, however, need to be careful with the second H4 since we know this forms when none of the major markets is open so we cannot expect any major movements just based off retail trading.
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  • #7,583
  • May 5, 2009 4:26pm May 5, 2009 4:26pm
Quoting daffy
You hoping for a bearish advance block there?
Thats okay, but I think more at the current daily candle.

If we look close, we see it is a RED one.

Itīs a doji, not long legged, but a doji. If there would have been a gap,
there would have been a chance for a very good candlestick pattern: a

bearish evening doji star:

http://www.candlesticker.com/Cs73.asp

I`am not sure, maybe Hussin should have a look.

But we should keep in mind, we have 3 bank holidays in asia.
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  • #7,584
  • May 5, 2009 4:29pm May 5, 2009 4:29pm
Quoting peaches
Thats okay, but I think more at the current daily candle.

If we look close, we see it is a RED one.

Itīs a doji, not long legged, but a doji. If there would have been a gap,
there would have been a chance for a very good candlestick pattern: a

bearish evening doji star:

http://www.candlesticker.com/Cs73.asp

I`am not sure, maybe Hussin should have a look.

But we should keep in mind, we have 3 bank holidays in asia.
Yeah, I was thinking about the bank holidays too. Cable printed out in a similar fashion when it was Easter.
  • #7,585
  • May 5, 2009 4:30pm May 5, 2009 4:30pm
This is absolutly breath-taking.

A bearish tri star on the TNX:

This might change everything.
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  • #7,586
  • May 5, 2009 4:33pm May 5, 2009 4:33pm
I think this might be a doji star on the USDLFX.

I think this is more likely to be a doji star than when some thought the bearish on neck was a doji star, because of the evenness of the wicks. Perhaps someone could offer their opinion on how it looks to them.
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  • #7,587
  • May 5, 2009 4:35pm May 5, 2009 4:35pm
hope you feel better hussin
  • #7,588
  • May 5, 2009 4:37pm May 5, 2009 4:37pm
Quoting daffy
I think this might be a doji star on the USDLFX.

I think this is more likely to be a doji star than when some thought the bearish on neck was a doji star, because of the evenness of the wicks. Perhaps someone could offer their opinion on how it looks to them.
I was just writing:

Welcome back dollar bulls !

It is not only the doji. It`s the tnx pattern, the daily gold candle plus
the rising volume on yesterdays candle.

I`am wrong, if market goes lower then the doji low.
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  • #7,589
  • May 5, 2009 4:40pm May 5, 2009 4:40pm
Quoting peaches
I was just writing:

Welcome back dollar bulls !

It is not only the doji. It`s the tnx pattern, the daily gold candle plus
the rising volume one yesteradys candle.

I`am wrong, if market goes lower then the doji low.
We still have a bearish weekly and monthly, so this could be a retrace to previous support turned resistance levels, rather than a fullblown reversal. Let's see.
  • #7,590
  • May 5, 2009 4:41pm May 5, 2009 4:41pm
Quoting peaches
I was just writing:

Welcome back dollar bulls !

It is not only the doji. It`s the tnx pattern, the daily gold candle plus
the rising volume on yesterdays candle.

I`am wrong, if market goes lower then the doji low.
GBP_USD Spot.png

2 day chart
will HISTORY repeat ????

baz
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  • #7,591
  • May 5, 2009 4:45pm May 5, 2009 4:45pm
Quoting daffy
We still have a bearish weekly and monthly, so this could be a retrace to previous support turned resistance levels, rather than a fullblown reversal. Let's see.
Exactly, I see the same in EU:

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"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
  • #7,592
  • May 5, 2009 4:46pm May 5, 2009 4:46pm
I think the cad is worth a look. Today's candle closed bearish right on support. The lower wick isn't long enough to class it as a hammer in my eyes, but it is a harami. I'll be waiting for confirmation, as I think we may just have got knockced back a bit by the expected bears at resistance.
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  • #7,593
  • May 5, 2009 4:46pm May 5, 2009 4:46pm
Quoting baz
GBP_USD Spot.png

2 day chart
will HISTORY repeat ????

baz
Hi baz

Hm.... its not in the daily charts, but your chart looks promissing.
  • #7,594
  • May 5, 2009 4:49pm May 5, 2009 4:49pm
Quoting peaches
Hi baz

Hm.... its not in the daily charts, but your chart looks promissing.
Peter,they can be really Great sometimes.....its worth checking them...
BUt i feel there has to be some RETRACE,as i am still BULLISH on WEEKLY TF

baz
  • #7,595
  • May 5, 2009 4:52pm May 5, 2009 4:52pm
Quoting baz
Peter,they can be really Great sometimes.....its worth checking them...
BUt i feel there has to be some RETRACE,as i am still BULLISH on WEEKLY TF

baz
need to be careful this week,i think New Trend will emerge after FRIDAY....or otherwise..

baz
  • #7,596
  • May 5, 2009 4:56pm May 5, 2009 4:56pm
GBP_USD Spot.png

weekly LOOKS BULLISH
Notice LOWER WICKS,BUYERS PUSH PRICE UP


baz
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  • #7,597
  • May 5, 2009 5:07pm May 5, 2009 5:07pm
I agree I can see $ strength
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #7,598
  • May 5, 2009 5:09pm May 5, 2009 5:09pm
Quoting daffy
I think the cad is worth a look. Today's candle closed bearish right on support. The lower wick isn't long enough to class it as a hammer in my eyes, but it is a harami. I'll be waiting for confirmation, as I think we may just have got knockced back a bit by the expected bears at resistance.
daffy, a hammer is a candle, which appears at the end of a downtrend.

I think, it something between a hanging man and a dark cloud cover.

But both are not right, the hanging man candle has to appear above the green candle, and for a dark cloud cover the close was to high.

I would wait for confirmation on 4 h chart.

Good night all.
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  • #7,599
  • May 5, 2009 5:14pm May 5, 2009 5:14pm
Quoting Bones
I agree I can see $ strength
there is another observation .......everytime there was bad US data,the $ GAINED strength in the past few months....
BUT now on good US data the Dollar has dropped.......
I am no FUNDI expert.....BUT are INVESTORS ready to DrOP the US $ ??

baz
  • #7,600
  • May 5, 2009 5:17pm May 5, 2009 5:17pm
ok Guys....the PA will tell ALL soon enough......but i need to sleep as well...
goodnight and trade safe...


baz
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