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Daily candle chart

  • #7,781
  • Edited 5:30pm May 20, 2009 5:08pm | Edited 5:30pm
Hello Everybody:

I'm watching daily Euro-Bund Futures right now and wondering if today's piercing candle is valid.

Volume: 729273
Open Interest: 862017

In my opinion, though it's either neutral or even - get this - bearish if ditched on the next candle.

Appreciate any opinion on this.
Attached Image (click to enlarge)
Click to Enlarge Name: bund.gif Size: 13 KB
Hear the music before the song is over ...
  • #7,782
  • May 20, 2009 9:03pm May 20, 2009 9:03pm
Hi dear Traders!

Nice Breakout in the GBPLFX index:

Attached Image (click to enlarge)
Click to Enlarge Name: gbplfx.gif Size: 25 KB


The pound is on bullish mode now!

Jhon
"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
  • #7,783
  • May 21, 2009 3:13am May 21, 2009 3:13am
Hi GlobalMarco
Well it is a piercing line.And I suppose its valid till the bottom breaks tho some like to see follow on momentum.It also has the confluence of the DB type pattern so theres defiantly buying interest off 120 round Number.

My understanding of Futures charts is at complete newbie stage ,the lack of historical data scares me some what.

Tony


Quoting GlobalMacro
Hello Everybody:

I'm watching daily Euro-Bund Futures right now and wondering if today's piercing candle is valid.

Volume: 729273
Open Interest: 862017

In my opinion, though it's either neutral or even - get this - bearish if ditched on the next candle.

Appreciate any opinion on this.
Attached Image (click to enlarge)
Click to Enlarge Name: eur bund daily.jpg Size: 186 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #7,784
  • May 21, 2009 4:11am May 21, 2009 4:11am
Quoting JhonMonsalve
Hi dear Traders!

Nice Breakout in the GBPLFX index:

The pound is on bullish mode now!

Jhon
Hi Jhon, I was watching that too. Though with this morning's news about a S&P downgrade for the UK, the good work by the ascending triangle is in doubt...
  • #7,785
  • May 21, 2009 4:20am May 21, 2009 4:20am
Quoting JhonMonsalve
Hi dear Traders!

Nice Breakout in the GBPLFX index:

Attachment

The pound is on bullish mode now!

Jhon
Now u wait for a RETEST....and than consider ur Options...

baz
  • #7,786
  • May 21, 2009 4:40am May 21, 2009 4:40am
I've got NZDUSD bullish potential

Attached Image (click to enlarge)
Click to Enlarge Name: forex.gif Size: 16 KB


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support resistance

.
  • #7,787
  • May 21, 2009 4:45am May 21, 2009 4:45am
Yes it was defiantly a breakout up ,but I would have liked it to stay up for above longer I had 2.9100 as the high but the round number seems the target.
Above 2.9100 there large range candles which I think would allow fast movement.
As you say Baz I think we need to see it unfold a little to see if this is rejection ,as long as we trade over the respected TL I'm long Bias.And also as long as we at least get a green inverted hammer on the weekly .
I have seen this before on lower TF's where this is the dip of the toe into a new area.
If we close the week in the new area I take it as broken.
H8 is an evening star at mo still 200 min to go either way looks unlikely to close bullish...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 10)gbp usd h8 21tn may.jpg Size: 120 KB
Click to Enlarge Name: 10)gbp usd w1 21tn may.gif Size: 16 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #7,788
  • May 21, 2009 4:49am May 21, 2009 4:49am
Hi errich I think may be more a piercing line
Harami has a small real body compared to the previous candle.




Quoting errich fx
I've got NZDUSD bullish potential

Attachment

-----------------------------

support resistance

.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #7,789
  • May 21, 2009 6:08am May 21, 2009 6:08am
Quoting JhonMonsalve
Hi dear Traders!

I'm watching the USDLFX index, is OS now, and almost all TF's, I mean: Daily, H4, H1 and so on, is near to monthly support right now, it would be logical hope for a retracement from here?? chart:

Attachment

What do you think?

Jhon
Well, I see a Weekly bearish engulfing forming on USDLFX, but this area is a very strong support, check your weekly and monthly charts, maybe is reasonable hope for a pullback from this blue line in my chart IMHO.

Attached Image (click to enlarge)
Click to Enlarge Name: usdlfxw.gif Size: 25 KB


What do you think?

Jhon
"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
  • #7,790
  • May 21, 2009 6:12am May 21, 2009 6:12am
Quoting baz
Now u wait for a RETEST....and than consider ur Options...

baz
Yes Baz, Do you think that this is a retest or even lower?

Attached Image (click to enlarge)
Click to Enlarge Name: gbplfx.gif Size: 25 KB


Thanks!

Jhon
"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
  • #7,791
  • May 21, 2009 6:45am May 21, 2009 6:45am
Hi Bones.

It looks like pool back for EU ,it is?
Can we 1.365x in few hours?

Thanks. MacMG.
  • #7,792
  • May 21, 2009 6:48am May 21, 2009 6:48am
Quoting MacMG
Hi Bones.

It looks like pool back for EU ,it is?
Can we 1.365x in few hours?

Thanks. MacMG.
Sorry i 've lost attachments

Thanks.Mac
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Untitled 1.jpg Size: 136 KB
Click to Enlarge Name: Untitled 2.jpg Size: 109 KB
  • #7,793
  • May 21, 2009 11:23am May 21, 2009 11:23am
Quoting MacMG
Sorry i 've lost attachments

Thanks.Mac
Hi Bones

Well, I was wrong. Sorry
Cancelled "pull-back" , maybe next time

MacMG.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Untitled 1.jpg Size: 160 KB
Click to Enlarge Name: Untitled 2.jpg Size: 82 KB
  • #7,794
  • Edited 1:01pm May 21, 2009 12:46pm | Edited 1:01pm
Quoting Bones
Hi GlobalMarco
Well it is a piercing line.And I suppose its valid till the bottom breaks tho some like to see follow on momentum.It also has the confluence of the DB type pattern so theres defiantly buying interest off 120 round Number.

My understanding of Futures charts is at complete newbie stage ,the lack of historical data scares me some what.

Tony
Many thanks Tony

The reason I'm not quite so bullish on this candle is that volume has eaten up all the recent open interest - thus buying already's dried up at this candle.
Also there's waning volume since may 7th 1'159'955 volume climax.

Do you incorporate volume/OpenInt into your analysis as well? what's your take on that? I feel Bunds are especially suitable for EOD analysis.
Hear the music before the song is over ...
  • #7,795
  • May 21, 2009 2:37pm May 21, 2009 2:37pm
Quoting JhonMonsalve
Yes Baz, Do you think that this is a retest or even lower?

Attachment

Thanks!

Jhon
sorry Jon...
i am going to wait For London session FRiday to analyse....one crazy Day,BUT i am wondering if weak LOngs were shaken out,or the Longs have taken profits and a Fall for Cable on Friday.

baz
  • #7,796
  • May 21, 2009 4:49pm May 21, 2009 4:49pm
Hey man don't be sorry ,
I kept meaning to post the EU as it had broken up ,but to be honest I didn't think it would hold and I thought you defiantly had something at the time just had busy day really following cable.


Quoting MacMG
Hi Bones

Well, I was wrong. Sorry
Cancelled "pull-back" , maybe next time

MacMG.
Attached Image (click to enlarge)
Click to Enlarge Name: 12)eur usd 21tn may.gif Size: 18 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #7,797
  • May 21, 2009 4:57pm May 21, 2009 4:57pm
Really Global I have never looked at Volumes and actually have no opinion on them.Ive only really traded Forex and was always under the impression that there were no reliable vol sources.Right now im just practicing my candles as my strategy as I don't want to overcomplicated things.


Quoting GlobalMacro
Many thanks Tony

The reason I'm not quite so bullish on this candle is that volume has eaten up all the recent open interest - thus buying already's dried up at this candle.
Also there's waning volume since may 7th 1'159'955 volume climax.

Do you incorporate volume/OpenInt into your analysis as well? what's your take on that? I feel Bunds are especially suitable for EOD analysis.
Attached Image (click to enlarge)
Click to Enlarge Name: eur bund daily 2.jpg Size: 215 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #7,798
  • May 21, 2009 5:03pm May 21, 2009 5:03pm
Quoting baz
sorry Jon...
i am going to wait For London session FRiday to analyse....one crazy Day,BUT i am wondering if weak LOngs were shaken out,or the Longs have taken profits and a Fall for Cable on Friday.

baz
Hi Jon
i still see Cable as BULLISH......daily made another high, and weekly at Present Bullish...
there is news on GDP,you can wait and see how market absorbs the News,but remember there is a Holiday in US and UK on Monday,and its a Friday as well..
i would not be suprised to see 1.600 and its sitting at 38% FIBO level
baz
  • #7,799
  • May 21, 2009 5:18pm May 21, 2009 5:18pm
Quoting Bones
Hey man don't be sorry ,
I kept meaning to post the EU as it had broken up ,but to be honest I didn't think it would hold and I thought you defiantly had something at the time just had busy day really following cable.
Hi Bones
I agree at all,
and great thanks anyway
Goodnight
MacMG
  • #7,800
  • May 21, 2009 6:28pm May 21, 2009 6:28pm
Quoting Bones
Hi errich I think may be more a piercing line
Harami has a small real body compared to the previous candle.
Already take 50pips

I have calculation for long body and short body,
B1 >= 2*((B2+B3+B4+B5+B6+B7+B8+B9+B10+B11)/10) // candle 1 Long Body
B >= (( B1+B2+B3+B4+B5+B6+B7+B8+B9+B10 )/40) // candle 0 > short body

please give comment

Attached Image (click to enlarge)
Click to Enlarge Name: forex.gif Size: 15 KB


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