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Daily candle chart

  • #8,221
  • Jun 6, 2009 4:05pm Jun 6, 2009 4:05pm
Quoting Bones
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 inside the first candle.
Tony .....i dont understand your question ?
  • #8,222
  • Jun 6, 2009 4:10pm Jun 6, 2009 4:10pm
Well like what we have here a 1500 p monthly candle ,

im saying that in 2 weeks time this monthly will close to wards the top or above that 1500 pip candle cause every other one I can find has done that.
So the deeper it goes down it will in all probability end up back at the top.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #8,223
  • Jun 6, 2009 4:12pm Jun 6, 2009 4:12pm
And then we have a monthly reversal or not depending on close.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #8,224
  • Jun 6, 2009 9:40pm Jun 6, 2009 9:40pm
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.
hi bones!

I believe we could see a small and fast pullback next week but the reversal has started.
This summer is a dollar one
  • #8,225
  • Edited 5:37am Jun 7, 2009 5:17am | Edited 5:37am
Hey Fammira really I am going keep to my bearish plan above but I will not take it any further than 5500 in the next 2 weeks based on the monthly.
Attached Image (click to enlarge)
Click to Enlarge Name: 90)gbp usd weekly example 5 th june.jpg Size: 63 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #8,226
  • Jun 7, 2009 6:03am Jun 7, 2009 6:03am
The Eur retraced almost all the way of a large monthly which Hussin
called at the beginning of the year I suspect we are out of his eclipse now


note- some differences from cable I think with upper wick and no real reversal for up ,it came from nowhere
Attached Image (click to enlarge)
Click to Enlarge Name: 90)eur usd monthly back of tl 5 th june.gif Size: 13 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #8,227
  • Jun 7, 2009 9:05am Jun 7, 2009 9:05am
Nison writes; "one of the most important clues sent out by the market is volume ... the stronger the volume, the more the force behind the move"; and he talks more about volume used with candles in Chapter 15 of 'Japanese Candlestick Charting Techniques'.

Martin Pring reiterates this point in the video that Pedro shared last week.

On the weekly GBPUSD chart, the last three weeks of volume are:

545,579 (W/E 5 June)
381,354 (W/E 29 May)
391,371 (W/E 22 May)

In fact, the last bearish looking weekly candle came with the highest volume that I can see on my Cable chart and I believe that this gives us another indication of the extent of selling that has occurred in the past week, lending more weight to the likelihood of this bear move continuing with some strength.

It'll be interesting to see whether we need to encounter a retracement of any sort, before continuing down.

At the same time, we can't forget the monthly candle for May which notched up a very high volume of 1,484,888.

Rob
  • #8,228
  • Jun 7, 2009 10:22am Jun 7, 2009 10:22am
Quoting Bones
Hey Fammira really I am going keep to my bearish plan above but I will not take it any further than 5500 in the next 2 weeks based on the monthly.

mmmm.....we might be surprised to see lower numbers but I think 1,45 - 1,5 before the end of August might be possible
  • #8,229
  • Jun 7, 2009 12:08pm Jun 7, 2009 12:08pm
Hello dear traders,

I hope you have traded well, I`am back from london, and I have good news for the british pound. Against a basket of other currencys, it will perform very good

I think most importend is, where a pattern appears. So this daily hammer should not be ignored.

If this hammer will fail, pound will fall deep and i would be on the wrong side of the trade
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpweek.gif Size: 10 KB
Click to Enlarge Name: gbpday.gif Size: 14 KB
  • #8,230
  • Jun 7, 2009 12:22pm Jun 7, 2009 12:22pm
The usd/lfx:

Well everybody expected this bounce somewhere from this 61.8 fibo area,
but question is, how far will it go ?

Itīs not on the charts, if this is just a short term retrace is will stop very soon, somewhere 1,846 or 1,863, before heading down more.

I`am long exactly from this high wave candle last thursday

Isnīt the monthly a three bearish crow pattern ?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdmonth.gif Size: 12 KB
Click to Enlarge Name: usdweek.gif Size: 12 KB
Click to Enlarge Name: usdday.gif Size: 11 KB
  • #8,231
  • Jun 7, 2009 12:24pm Jun 7, 2009 12:24pm
Hi Peter,
Welcome back from London.
Very good point re: GBPLFX hammer on the daily.
USDLFX daily seems to look less decisive.

I shall be watching very closely in the morning.

Rob


Quoting peaches
Hello dear traders,

I hope you have traded well, I`am back from london, and I have good news for the british pound. Against a basket of other currencys, it will perform very good

I think most importend is, where a pattern appears. So this daily hammer should not be ignored.

If this hammer will fail, pound will fall deep and i would be on the wrong side of the trade
  • #8,232
  • Jun 7, 2009 12:32pm Jun 7, 2009 12:32pm
The weekly cadlfx has a major resistance at 1.6540/50 above, but support is not far away at 1.6210.

I think it will bounce between this 2 levels a bit before breakout up.

Quit irretating to see on the daily this piercing line followed by a harami.

I`am currently short for a retest of the piercing line.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: cadlfx.gif Size: 12 KB
Click to Enlarge Name: cadlfxday.gif Size: 13 KB
  • #8,233
  • Jun 7, 2009 12:41pm Jun 7, 2009 12:41pm
On the yen I have same view like usd. This is overall bearish (on the yen chart this means UP).

Look this healty 3 weekly candles.

If yen does not turn immediatly during opening asia session, there is only 55.30 to hold this thing down, before it will pop up to > 59.

Not in a position yet, will buy the drop during the week.
Attached Image (click to enlarge)
Click to Enlarge Name: yen.gif Size: 11 KB
  • #8,234
  • Jun 7, 2009 12:43pm Jun 7, 2009 12:43pm
Quoting priceaction
Hi Peter,
Welcome back from London.
Very good point re: GBPLFX hammer on the daily.
USDLFX daily seems to look less decisive.

I shall be watching very closely in the morning.

Rob
Hi rob,

trading opportunitys on my charts for usd/jpy long, eur/aud short, also watch daily candle gold at 935
  • #8,235
  • Jun 8, 2009 5:08am Jun 8, 2009 5:08am
Quoting JhonMonsalve
This bullish engulfing setup is working pretty well, thanks to hussin for this great thread , be careful with short $, I mean, take a look @ monthly chart, is bouncing from fibo 61.8% level and the chart shows a kinda bullish harami, next resistance zone @1.83xx.

Attachment

Happy weekend to all!

Cordial!

Jhon
Three white soldiers on weekly charts?? The USDLFX is rising hard, take a look:

Attached Image (click to enlarge)
Click to Enlarge Name: usdlfx.gif Size: 23 KB


Congrats to everyone long on that

Jhon
"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
  • #8,236
  • Jun 8, 2009 11:09am Jun 8, 2009 11:09am
Quoting JhonMonsalve
Three white soldiers on weekly charts?? The USDLFX is rising hard, take a look:

Attachment

Congrats to everyone long on that

Jhon

Hi Jhon

Donīt trust a candle until it is closed

I just closed my longs at 1.84 and will only enter long if we have a full daily close above the blue line with target 1.90.

But I think its time for targeting 1.70 area, todays or tommorrows candle will tell us
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdlfx.gif Size: 11 KB
Click to Enlarge Name: usdlfxweek.gif Size: 13 KB
  • #8,237
  • Jun 8, 2009 11:13am Jun 8, 2009 11:13am
Quoting peaches
Hello dear traders,

I hope you have traded well, I`am back from london, and I have good news for the british pound. Against a basket of other currencys, it will perform very good

I think most importend is, where a pattern appears. So this daily hammer should not be ignored.

If this hammer will fail, pound will fall deep and i would be on the wrong side of the trade

Looks like I`am not on the wrong side of the trade so far....
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpdayold.gif Size: 14 KB
Click to Enlarge Name: gbpday.gif Size: 13 KB
  • #8,238
  • Jun 8, 2009 11:19am Jun 8, 2009 11:19am
Also gbp/chf is developing nice. A bit of "luck" on this one...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpchfday.gif Size: 13 KB
Click to Enlarge Name: gbpchfweek.gif Size: 10 KB
  • #8,239
  • Jun 8, 2009 11:21am Jun 8, 2009 11:21am
actually trading against hussin`s eurlfx short is a hard work

But I just added another long at the back of this trendline. The 4 h looks promising so far.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurlfxday.gif Size: 13 KB
Click to Enlarge Name: eurlfx4h.gif Size: 13 KB
  • #8,240
  • Jun 8, 2009 11:23am Jun 8, 2009 11:23am
Good call Peter

...and Cable breaks back up into 1.60.

Quoting peaches
Looks like I`am not on the wrong side of the trade so far....
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