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Daily candle chart

  • #8,161
  • Jun 4, 2009 6:41am Jun 4, 2009 6:41am
engulfing on cable, but still it seems like we could test highs a second time before the fall

after CAD showing signs of weakness, today it was AUD's turn
our beloved pound will likely be the last one to fall...but eventually I think it will
  • #8,162
  • Jun 4, 2009 10:52am Jun 4, 2009 10:52am
We have just over a day to go yet but the way things are moving, a shooting star on the weekly GBPUSD is looking quite possible.
Similar on GBPLFX.
Not so sure about USDLFX.

Any thoughts guys?

Rob
  • #8,163
  • Jun 4, 2009 12:57pm Jun 4, 2009 12:57pm
I think at the moment it sure looks sweet Rob
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #8,164
  • Jun 4, 2009 1:05pm Jun 4, 2009 1:05pm
But I think maybe watch daily close as the engulfings have no follow up
Attached Image (click to enlarge)
Click to Enlarge Name: 52) aud usd ,d1 2 4nd june.gif Size: 13 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #8,165
  • Jun 4, 2009 1:06pm Jun 4, 2009 1:06pm
Like oil


Quoting Bones
Actually Baz your like Hussin you speak a lot of sense when sometimes I am not ,lol

Yes its interesting Oil also had a bearish engulfing...right at 38.3%

But Baz something I'm noticing a lot more recently is after formation to be careful of the run you can get before potential bounce.
Attached Image (click to enlarge)
Click to Enlarge Name: 51) oil d1no 2 4nd june.gif Size: 16 KB
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  • #8,166
  • Jun 4, 2009 1:12pm Jun 4, 2009 1:12pm
Cad

Quoting Bones
Yes looks bullish at mo ,but within its range,1.1 just above,the $ has been perky ,watching to see if we can get a nice engulfing on the usdlfx daily ..
Attached Image (click to enlarge)
Click to Enlarge Name: 52)usd cad ,d1 2 4nd june.gif Size: 12 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #8,167
  • Jun 4, 2009 1:20pm Jun 4, 2009 1:20pm
What do you think about USLFX d1 Rob?
Attached Image (click to enlarge)
Click to Enlarge Name: 60) usdlfx d1 4 june.gif Size: 18 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #8,168
  • Jun 4, 2009 1:23pm Jun 4, 2009 1:23pm
Quoting priceaction
We have just over a day to go yet but the way things are moving, a shooting star on the weekly GBPUSD is looking quite possible.
Similar on GBPLFX.
Not so sure about USDLFX.

Any thoughts guys?

Rob
I am definitely watching that close very carefully! I see a double bottom and bounce at this tl.. but lets see how the higher tfs close out...

Greetings Baz, Tony, Hussin, Peaches and crew...
Attached Image
Patience + Discipline - Greed = Success
  • #8,169
  • Jun 4, 2009 1:25pm Jun 4, 2009 1:25pm
Hi dear traders!

Just an interesting observation in USDLFX:

Attached Image (click to enlarge)
Click to Enlarge Name: usdlfx.gif Size: 22 KB


Just bounce from Monthly 61.8% Fibo level

Jhon
"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
  • #8,170
  • Jun 4, 2009 1:28pm Jun 4, 2009 1:28pm
Greetings to you Infinity ,yea I think the daily close is important,still a few hours,but maybe the real bearish action may happen next week on cable ,non farm is a crazy day ...


Quoting Infinity
I am definitely watching that close very carefully! I see a double bottom and bounce at this tl.. but lets see how the higher tfs close out...

Greetings Baz, Tony, Hussin, Peaches and crew...
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #8,171
  • Jun 4, 2009 1:38pm Jun 4, 2009 1:38pm
Quoting Infinity
I am definitely watching that close very carefully! I see a double bottom and bounce at this tl.. but lets see how the higher tfs close out...

Greetings Baz, Tony, Hussin, Peaches and crew...
i remain BULLISH above 1.6200,Caable just tested Last weeks High.....we may easily see a UP day tommorow, as usual wait for LONDON open to guide us..
I thought GORDON BROWN going would be a Happy Day,and Cable to shoot up!!!

baz
  • #8,172
  • Jun 4, 2009 1:41pm Jun 4, 2009 1:41pm
Yea youd think thed be happy about Baz,lol
But if it really was that how did they know to print the engulfing the previous day?/?
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #8,173
  • Jun 4, 2009 1:46pm Jun 4, 2009 1:46pm
GBP_USD Spot.png

sorry here"s the chart

3 hr Tf ....

baz
Attached Image (click to enlarge)
Click to Enlarge Name: GBP_USD Spot.png Size: 12 KB
  • #8,174
  • Jun 4, 2009 1:48pm Jun 4, 2009 1:48pm
Quoting Bones
Yea youd think thed be happy about Baz,lol
But if it really was that how did they know to print the engulfing the previous day?/?
MM Dumping the weak LONGS maybe.....lets see what LONDON session brings..
  • #8,175
  • Jun 4, 2009 1:57pm Jun 4, 2009 1:57pm
Hi Tone,

I see a fair bit of indecisiveness in USDLFX daily right now.
A retracement to 61.8 fib and now hovering below 50%.

Although it presented a bullish engulfing on Wednesday, perhaps it was news today that left it pretty much where it started today.

Could the aftermath of Wednesday's bullish engulfing see a decisive reaction tomorrow? Or will it just continue it's longer term fall and simultaneously see cable pull off a continuation of it's recent bull move?

My two previous 4hr candles on GBPUSD have certainly found some support at around 1.6080. This was also old resistance from 27 May, and an area of S&R back in Q4 of 2008.

Rob
Quoting Bones
What do you think about USLFX d1 Rob?
  • #8,176
  • Jun 4, 2009 2:20pm Jun 4, 2009 2:20pm
Nice chart Baz
Quoting baz
GBP_USD Spot.png

sorry here"s the chart

3 hr Tf ....

baz
  • #8,177
  • Jun 4, 2009 2:33pm Jun 4, 2009 2:33pm
Yea its tricky I think Hussin is in the bull camp too ,maybe in Hawaii right now

Quoting hussin naiji
also i agree with BNP for strengthening USD no weakening
http://www.bloomberg.com/apps/news?p...d=awDPv0rRu3nU
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #8,178
  • Jun 4, 2009 2:35pm Jun 4, 2009 2:35pm
Quoting priceaction
Nice chart Baz
Rob...
its been a crazy 2 days...expect it to continue....
On the Short side,we have also a LL now as well,so at minimum we should expect a LH....perhaps a HIHGH before NFP,and than a DROP....
lets wait Patiently..

baz
  • #8,179
  • Jun 4, 2009 2:47pm Jun 4, 2009 2:47pm
Quoting Bones
Yea its tricky I think Hussin is in the bull camp too ,maybe in Hawaii right now
Tony
Hussin went short Euro Last Friday !!!...and he prefers not to use a STOPLOSS as well.......man this guys a MACHO TRADER

baz
  • #8,180
  • Jun 5, 2009 3:13am Jun 5, 2009 3:13am
So Hussin's on holiday sunning himself Tone!
I wondered where he was.


Quoting Bones
Yea its tricky I think Hussin is in the bull camp too ,maybe in Hawaii right now
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