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Daily candle chart

  • #8,201
  • Jun 6, 2009 7:02am Jun 6, 2009 7:02am
Quoting Bones
Your not using the LFXs??
I do go over them,BUT this week i was having a lot of Computer problems,so the Charts i normaly use are PROREAL,and i tend to have a couple of MT4 charts,with different time zones.....and the LITE FX....
I thoudght this might be overloading the Computer...hence took off the Mt4 charts...
Also i have my IG INDEX trading platform on as well....
i need to get a new Computer !!

baz
  • #8,202
  • Jun 6, 2009 7:25am Jun 6, 2009 7:25am
I can see why you would not want to add a layer of charting but I am in agreement with Hussin 100% that they are a easier to chart for candlestick analysis.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #8,203
  • Jun 6, 2009 7:27am Jun 6, 2009 7:27am
Oh right ,lol I had that earlier in the year its a nightmare


Quoting baz
I do go over them,BUT this week i was having a lot of Computer problems,so the Charts i normaly use are PROREAL,and i tend to have a couple of MT4 charts,with different time zones.....and the LITE FX....
I thoudght this might be overloading the Computer...hence took off the Mt4 charts...
Also i have my IG INDEX trading platform on as well....
i need to get a new Computer !!

baz
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #8,204
  • Jun 6, 2009 7:53am Jun 6, 2009 7:53am
Attached Image (click to enlarge)
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Attached Image (click to enlarge)
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Attached Image (click to enlarge)
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  • #8,205
  • Jun 6, 2009 10:21am Jun 6, 2009 10:21am
Hi Warta I was thinking the Eur Usd is in bear territory for at least a week. I have also been eyeing that falling TL on the EurLfx and was thinking we will touch it before a break down or break up.
For me the main driver will be the $ which means that 50%F will break on the USDLFX ,
1.3700 area is on the cards and there could be a Domino Effect.
Attached Image (click to enlarge)
Click to Enlarge Name: 70)eurusd w1 5 th june.gif Size: 21 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #8,206
  • Jun 6, 2009 10:26am Jun 6, 2009 10:26am
GBP_USD Spot.png

2 weekly CHART
Attached Image (click to enlarge)
Click to Enlarge Name: GBP_USD Spot.png Size: 12 KB
  • #8,207
  • Jun 6, 2009 10:31am Jun 6, 2009 10:31am
Quoting Bones
Hi Warta I was thinking the Eur Usd is in bear territory for at least a week. I have also been eyeing that falling TL on the EurLfx and was thinking we will touch it before a break down or break up.
For me the main driver will be the $ which means that 50%F will break on the USDLFX ,
1.3700 area is on the cards and there could be a Domino Effect.
Nice and looking forward to be there
  • #8,208
  • Jun 6, 2009 10:49am Jun 6, 2009 10:49am
2 day chart.....shows what to expect last friday.... in hindsight ...in hindsight

EUR_USD Spot.png
Attached Image (click to enlarge)
Click to Enlarge Name: EUR_USD Spot.png Size: 14 KB
  • #8,209
  • Jun 6, 2009 11:07am Jun 6, 2009 11:07am
Yea Hindsight Baz
still also looks to be room to run on that 2 day chart as were only at confirmation stage ..a retrace would be nice
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  • #8,210
  • Jun 6, 2009 11:13am Jun 6, 2009 11:13am
Quoting Bones
Yea Hindsight Baz
still also looks to be room to run on that 2 day chart as were only at confirmation stage ..a retrace would be nice
Usually,and normaly....there is a Retrace or a sideways and low range Days...,but we will have to see..

EUR_USD Spot.png
Attached Image (click to enlarge)
Click to Enlarge Name: EUR_USD Spot.png Size: 18 KB
  • #8,211
  • Jun 6, 2009 12:41pm Jun 6, 2009 12:41pm
Well the weekly is not closed till Sunday night on this chart ,but unless it turns green I would say we are about to fall to the 5500 area.

The pattern would have been more forceful had it happened after the long white from the previous week.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 70)gbp usd w1 5 th june.gif Size: 15 KB
Click to Enlarge Name: 70)gbp usd d1 5 th june.gif Size: 19 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #8,212
  • Jun 6, 2009 1:38pm Jun 6, 2009 1:38pm
The thing that has stopped me thinking we are at the point of reversal is the monthly
theres over 2 weeks left trading on this chart and I wonder how far down we could go this month so the other possible target of 5100 is unlikely to happen within the next 2 weeks.

Anyway my plan is to sell the break or retrace unless theres a miracle.
Attached Image (click to enlarge)
Click to Enlarge Name: 70)gbp usd m1 5 th june.gif Size: 14 KB
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  • #8,213
  • Jun 6, 2009 1:50pm Jun 6, 2009 1:50pm
I mean Im not seeing the pound itself as having a major reversal ,this weekly is closed and has a long upper wick ,maybe down to support/sideways but no more in my eyes.
Attached Image (click to enlarge)
Click to Enlarge Name: 90) gbplfx d1 4 june.gif Size: 18 KB
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  • #8,214
  • Edited 3:06pm Jun 6, 2009 2:51pm | Edited 3:06pm
Heres the thing with a 1500 pip monthly the momentum is strong.
So on all the data I have for cable I can not find one that simply tuns on a penny after such a candle (after the top/bottom is broke) ,in fact most don't make it past 38.2
Attached Image (click to enlarge)
Click to Enlarge Name: 70)gbp usd m1 reversal after 1400 pip monthly no1 5 th june.gif Size: 17 KB
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  • #8,215
  • Jun 6, 2009 3:02pm Jun 6, 2009 3:02pm
OK the similar candle is 1700 pips and with the trend ....but
Attached Image (click to enlarge)
Click to Enlarge Name: 70)gbp usd m1 reversal after 1400 pip monthly no2 5 th june.gif Size: 15 KB
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  • #8,216
  • Jun 6, 2009 3:47pm Jun 6, 2009 3:47pm
Quoting Bones
I mean Im not seeing the pound itself as having a major reversal ,this weekly is closed and has a long upper wick ,maybe down to support/sideways but no more in my eyes.
I agree,we may all be suprised and see a UPmove.....but i think a sideways move first.....and as usual let the candles guide....we can all but follow their direction !!

baz
  • #8,217
  • Jun 6, 2009 3:55pm Jun 6, 2009 3:55pm
But baz thats what im trying to do

I watched the video Baz was great thanks,I was thinking maybe consolidation candle rather than reversal.???
Consolidate down wards
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  • #8,218
  • Jun 6, 2009 3:58pm Jun 6, 2009 3:58pm
Also note where the monthly candle closes after it enters the monthly candles

and Daily Real bodies getting smaller

Quoting Bones
Heres the thing with a 1500 pip monthly the momentum is strong.
So on all the data I have for cable I can not find one that simply tuns on a penny after such a candle (after the top/bottom is broke) ,in fact most don't make it past 38.2
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #8,219
  • Jun 6, 2009 4:00pm Jun 6, 2009 4:00pm
Quoting Bones
But baz thats what im trying to do

I watched the video Baz was great thanks,I was thinking maybe consolidation candle rather than reversal.???
Consolidate down wards
Tony,i have a TARGET of 1.5500.....but it will take time to get there,and i think it will be because of FEAR returning to the Markets....as UK news is getting Positive all the time...1.5850 will be a HARD PRICE to overcome...

baz
  • #8,220
  • Jun 6, 2009 4:03pm Jun 6, 2009 4:03pm
Id be intrested if anyone with more data could find a 2 candle monthly set up with the first being around 1500 that is a reversal where the reversal closes deep inside the first candle.
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