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Daily candle chart

  • #7,661
  • May 9, 2009 10:07am May 9, 2009 10:07am
I suppose to talk of recovery is a little early..the daily usdx did show signs that the brakes were on ,but that was then crushed as we were unable to close back over daily rising TL.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2)usdx daily sat 9 th may.gif Size: 21 KB
Click to Enlarge Name: 2)usdx weekly sat 9 th may.gif Size: 27 KB
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  • #7,662
  • May 9, 2009 10:14am May 9, 2009 10:14am
Jpy continued to weaken ,at a level now looking for break.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 4) lfx jpy daily -9 may.gif Size: 18 KB
Click to Enlarge Name: 4) lfx jpyweekly -9 may.gif Size: 13 KB
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  • #7,663
  • May 9, 2009 10:22am May 9, 2009 10:22am
I wonder if we can open up a bit ,
The thing is the new zone would have a pretty large candle for S+R in recent times,thats all the data I have.
Attached Image (click to enlarge)
Click to Enlarge Name: 5)lfx jpy monthly -9 may.gif Size: 23 KB
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  • #7,664
  • Edited 10:58am May 9, 2009 10:30am | Edited 10:58am
Quoting Bones
I suppose to talk of recovery is a little early..the daily usdx did show signs that the brakes were on ,but that was then crushed as we were unable to close back over daily rising TL.
hi bones, do you see USD falling again next week?
I opened a few longs on USD but seems wasn't a good idea so far...

now I notice a support for USDX at 82,15 - 82, might it hold for a small pullback before pointing south again?
  • #7,665
  • May 9, 2009 10:40am May 9, 2009 10:40am
Still within the consolidation zone up against multiple res ,Hussin has already mentioned bullish Eur ,hes normally right.
The Daily MACD divergence suggested price would snap back.

Quoting Bones
You feel long /short ? I'm feeling bearish on the eur,we are in consolidation mode but looks like break down?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 3 )daily eur lfx daily -9 may.gif Size: 27 KB
Click to Enlarge Name: 3 )daily eur lfx h4 -9 may.gif Size: 26 KB
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  • #7,666
  • May 9, 2009 10:46am May 9, 2009 10:46am
Quoting fammira
hi bones, do you see USD falling again next week?
I opened a few longs on USD but seems wasn't a good idea so far...
You should have waited untill Monday.........cable may rise on Sunday.....and than Retrace London session...

baz
  • #7,667
  • May 9, 2009 10:47am May 9, 2009 10:47am
Hi Fammira ,given the weekly this week I am still bearish with the best weekly bullish scenario being a reversal candle off the support we are around ,could well consolidate for a bit which would give you exit higher..

Quoting fammira
hi bones, do you see USD falling again next week?
I opened a few longs on USD but seems wasn't a good idea so far...
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  • #7,668
  • May 9, 2009 10:50am May 9, 2009 10:50am
No break down tho ,lol

Quoting Bones
Still within the consolidation zone up against multiple res ,Hussin has already mentioned bullish Eur ,hes normally right.
The Daily MACD divergence suggested price would snap back.
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  • #7,669
  • May 9, 2009 11:07am May 9, 2009 11:07am
Quoting baz
You should have waited untill Monday.........cable may rise on Sunday.....and than Retrace London session...

baz
yeah baz, my bad there...
  • #7,670
  • May 9, 2009 11:08am May 9, 2009 11:08am
I have changed my target but note we are still in the box ,no break out of daily consolidation yet up against res.The weekly looks bullish 2 hammers are better than one and piercing line before them.
Attached Image (click to enlarge)
Click to Enlarge Name: 3 )daily eur lfx weekly -9 may.gif Size: 20 KB
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  • #7,671
  • May 9, 2009 11:10am May 9, 2009 11:10am
Quoting Bones
Hi Fammira ,given the weekly this week I am still bearish with the best weekly bullish scenario being a reversal candle off the support we are around ,could well consolidate for a bit which would give you exit higher..
agree with you bones, I was too early and that is a common mistake...do you also see chances for the USDX support area to be tested between Monday and Tuesday and then a white candle on the weekly before pointing down again?
  • #7,672
  • May 9, 2009 11:14am May 9, 2009 11:14am
Quoting fammira
agree with you bones, I was too early and that is a common mistake...do you also see chances for the USDX support area to be tested between Monday and Tuesday and then a white candle on the weekly before pointing down again?
Must learn to be Patient,wait at least for 4 hr Candles to guide you....,i am sure there will be a retrace.......fingers crossed !!! for you...

baz
  • #7,673
  • May 9, 2009 11:18am May 9, 2009 11:18am
Quoting baz
GBP_USD Spot.png

WEEKLY STILL BULLISH,UNLESS CLOSES BELOW 1.4900 ON FRIDAY


baz
GBP_USD Spot.png

this was a Sure as a sign,that friday may end up Bullish 8 hr chart ......but i was not intrested in taking a trade.....

baz
Attached Image (click to enlarge)
Click to Enlarge Name: GBP_USD Spot.png Size: 14 KB
  • #7,674
  • May 9, 2009 11:23am May 9, 2009 11:23am
Quoting baz
Must learn to be Patient,wait at least for 4 hr Candles to guide you....,i am sure there will be a retrace.......fingers crossed !!! for you...

baz
thanks my friend
  • #7,675
  • May 9, 2009 11:27am May 9, 2009 11:27am
Well the USDX 82 area has ,61.8 retrace ,150 and + 60 ema converged( it would be first time back) ,price pivot zone tho not a huge one.
I could see it holding after a dip down.Whats the other currency that makes the pair?
Quoting fammira
agree with you bones, I was too early and that is a common mistake...do you also see chances for the USDX support area to be tested between Monday and Tuesday and then a white candle on the weekly before pointing down again?
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  • #7,676
  • May 9, 2009 11:32am May 9, 2009 11:32am
EUR_USD Spot.png

at an intresting point,hence to wait for Candle Confirmation would have been better

baz
Attached Image (click to enlarge)
Click to Enlarge Name: EUR_USD Spot.png Size: 14 KB
  • #7,677
  • May 9, 2009 12:18pm May 9, 2009 12:18pm
agree baz its a intresting point ,with a 4 pip top wick may be its ok to call closing marubozu on weekly ,
Attached Image (click to enlarge)
Click to Enlarge Name: 6) eur usd weekly -9 may.gif Size: 21 KB
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  • #7,678
  • May 9, 2009 12:39pm May 9, 2009 12:39pm
Quoting Bones
agree baz its a intresting point ,with a 4 pip top wick may be its ok to call closing marubozu on weekly ,
i think Monday will be intresting.........i will wait Midday Monday.....
i think it $$$ weakness,rather than GbP and Euro strength..,BECAUSE also we are behind the US in terms of recovery,so easily Cable can turn down sharply as well.....but UK also had some +ve news too as well...so i am and .....

baz
  • #7,679
  • May 9, 2009 6:09pm May 9, 2009 6:09pm
I agree $ could be the driver anyway I think cable is bullish.
I would prefer a closing Marubozu to be lower in trend ,it can be bearish at the top but since we took 5000 I think 5500 is a possibility.
Attached Image (click to enlarge)
Click to Enlarge Name: 6) gbp-usd weekly -9 may.gif Size: 19 KB
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  • #7,680
  • May 11, 2009 9:25am May 11, 2009 9:25am
hi dear all
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