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Daily candle chart

  • #7,601
  • May 5, 2009 5:17pm May 5, 2009 5:17pm
I have been wondering about the TL for some time ...will probably go during this month if not worth bearing in mind.
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #7,602
  • May 5, 2009 5:19pm May 5, 2009 5:19pm
Quoting peaches
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.
Good spot, I did mean a hanging man where I put hammer. Thanks for correcting. Must the hanging man appear above the green candle even in FX?

I discounted it as being a hanging man, or hammer in my words earlier, due to the length of the lower wick, but I do think it is a harami, so worth keeping an eye on to see how the market reacts.
  • #7,603
  • May 5, 2009 5:22pm May 5, 2009 5:22pm
Quoting Bones
I have been wondering about the TL for some time ...will probably go during this month if not worth bearing in mind.
I think a New TREND may emerge after this WEEK,or just a RANGE BOUND summer .....as the UK is still not clear of its PROBLEMS,and next year is Election Year..so some malipulation by Darling and Co is on the cards...

baz
  • #7,604
  • May 5, 2009 5:26pm May 5, 2009 5:26pm
Quoting baz
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
Tentative USD
Bank Stress Test Info

will be fundamental interesting.

But short term (1-2 days): If I would be an investor, where should I invest my money ??? Look at the daily candles:

TNX = no
Gold = no
stocks (dow jones)= no
cad = no
aud,nzd ? maybe
pound=no
eur=no
swiss franc = no

I would invest in dollar and yen from the daily charts.

But its late, bed time....
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  • #7,605
  • May 5, 2009 5:28pm May 5, 2009 5:28pm
Quoting Bones
I have been wondering about the TL for some time ...will probably go during this month if not worth bearing in mind.
EUR_USD Spot.png
Tony ...
another view on the 12 hr Tf EURO,TRENDLINE may have been tested today ?
A nice Hangman To go short as well today !!

baz
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  • #7,606
  • May 5, 2009 5:28pm May 5, 2009 5:28pm
Quoting daffy
Good spot, I did mean a hanging man where I put hammer. Thanks for correcting. Must the hanging man appear above the green candle even in FX?

I discounted it as being a hanging man, or hammer in my words earlier, due to the length of the lower wick, but I do think it is a harami, so worth keeping an eye on to see how the market reacts.
yes.
  • #7,607
  • May 5, 2009 5:38pm May 5, 2009 5:38pm
Quoting peaches
Tentative USD
Bank Stress Test Info

will be fundamental interesting.

But short term (1-2 days): If I would be an investor, where should I invest my money ??? Look at the daily candles:

TNX = no
Gold = no
stocks (dow jones)= no
cad = no
aud,nzd ? maybe
pound=no
eur=no
swiss franc = no

I would invest in dollar and yen from the daily charts.

But its late, bed time....
Me too.......my Head hurts now....LET the Candles Light the way ahead ..
good night..
We are not just traders.......we have to also
1) Mathmaticians....(triangles,Pennants...etc )
2) No about body Parts....( Head and Shoulders, aborted babies )
3)Weather Experts...( Dark Cloud ,Evening Stars,Morning stars)
4)astronmy ...( time Zones etc )
5) Animal knowledge ( Bears,Bulls, Pigs ,Dead cat Bounce )..

And my Wife says i dont do NOTHING.....

baz
  • #7,608
  • May 5, 2009 5:40pm May 5, 2009 5:40pm
Lol enjoyed your posts tonight Baz ,wish you post more....
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #7,609
  • May 5, 2009 5:44pm May 5, 2009 5:44pm
Quoting Bones
Lol enjoyed your posts tonight Baz ,wish you post more....
i will try.....but SHARING is Great in this Thread....and i am still learning the More complex Candle Pattern Hussin shows us...
But my way of thinking is .....Simple Candle are Better,BECAUSE all good TRADRS will see them Straight away,and hence a move can have mommentum..

Take care Tony,i have learnt from you as well....

baz
  • #7,610
  • May 5, 2009 5:47pm May 5, 2009 5:47pm
You feel long /short ? I'm feeling bearish on the eur,we are in consolidation mode but looks like break down?



Quoting baz
EUR_USD Spot.png
Tony ...
another view on the 12 hr Tf EURO,TRENDLINE may have been tested today ?
A nice Hangman To go short as well today !!

baz
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #7,611
  • May 5, 2009 5:52pm May 5, 2009 5:52pm
Quoting Bones
You feel long /short ? I'm feeling bearish on the eur,we are in consolidation mode but looks like break down?
At present MY MIND says DOWN,BUT i rather wait for all News to be absorbed,and that PERFECT TRENDLINE TEST....is another thing on my Mind..
just too much News out this week with High Impact Value.....If they dont drop Intreset Rate...How will that be seen in the Market ?...
I may not trade Thursday and Friday TONY....unless a CLEAR PATTERN is seen.
How about you.....will you take a TRADE ?

baz
  • #7,612
  • May 5, 2009 5:55pm May 5, 2009 5:55pm
Quoting Bones
You feel long /short ? I'm feeling bearish on the eur,we are in consolidation mode but looks like break down?
EUR_USD Spot.png

a larger Time Period on the same TF.....

baz
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  • #7,613
  • May 5, 2009 6:00pm May 5, 2009 6:00pm
Quoting baz
EUR_USD Spot.png

a larger Time Period on the same TF.....

baz
Sorry the Chart looks Squashed,BUT its the Bounces if you notice,and today its HIT the Same LINE again and also the RETEST of the TRENDLINE,obviously,if it breaks DOWN.....than its DOWN to 1.3100/1.3000

baz
  • #7,614
  • May 5, 2009 6:09pm May 5, 2009 6:09pm
Looks a bit like hanging man and confirmation to me Baz ,I probably would take it short,but I can not see a long,like you say alot going on this week some fake outs are a must.


Quoting baz
EUR_USD Spot.png
Tony ...
another view on the 12 hr Tf EURO,TRENDLINE may have been tested today ?
A nice Hangman To go short as well today !!

baz
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #7,615
  • May 5, 2009 6:18pm May 5, 2009 6:18pm
Quoting Bones
Looks a bit like hanging man and confirmation to me Baz ,I probably would take it short,but I can not see a long,like you say alot going on this week some fake outs are a must.
yes lets see more PA....now here is something for YOu ,i traded Cable LONG today,on a 4Hr piercing Pattern, BUT if i was not in a Position,I would have Taken a Aggresive Trade on the Euro when the HangMan Closed...
i do that with Cable as well.....
Please to all others ,this is my way of seeing patterns and trading, and have a set target..
Yestrerday there was a PIn on the 6 Hr TF on Cable as well...

baz
  • #7,616
  • May 6, 2009 2:17am May 6, 2009 2:17am
I was wondering if this 1h USD LFX candle would count as bearish on shoulder (I think it is called) rather than hammer? There look to be buyers now however...
  • #7,617
  • May 6, 2009 2:19am May 6, 2009 2:19am
Quoting ezodisy
I was wondering if this 1h USD LFX candle would count as bearish on shoulder (I think it is called) rather than hammer? There look to be buyers now however...
hi its a daily forum 1 hr is to small for candle patterns
  • #7,618
  • May 6, 2009 2:28am May 6, 2009 2:28am
I know usually daily and 4h candles are considered but I have seen 1h discussed here too. Anyway it is more for clarification on the candle type which I think is appropriate to this thread.
  • #7,619
  • May 6, 2009 3:13am May 6, 2009 3:13am
just to clear up any confusion, I was referring to the candle here which has played out now.
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  • #7,620
  • May 6, 2009 2:21pm May 6, 2009 2:21pm
Quoting ezodisy
just to clear up any confusion, I was referring to the candle here which has played out now.
You mean a bearish on neck pattern. This is, what Mr. Thomas N. Bulkowski says in his book Encyclopedia of Candlestick Charts,

"Number of candle lines: Two.
Price trend: Downward leading to the start of the candle pattern.
First day: A tall black candle.
Second day: Price gaps lower but forms a white candle with a close that
matches the prior low.

The psychology behind the pattern starts with the downward price trend
leading to the candle. Bears force price lower, eventually forming a tall black candle. The next day price gaps lower still, and the bears are overjoyed, but the celebrations come too soon. By day’s end, the stock closes at the price of the prior low. Despite the bullish enthusiasm shown by the white candle, the bulls are supposed to be disappointed because they didn’t force a higher close."
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