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
Looks like I`am not on the wrong side of the trade so far....
Totally agree Peter!
Why 1.70?? :o, What's the blue line on your charts? Is the Gann HiLo?
Thanks.
Jhon
Itīs the kijun-sen. It`s part of the ichimoku trading system.
Targets on GBPLFX??
I see that:
Attachment
The price is bouncing from 2.90 - 91, is unable to manage below, maybe I hope a lil pullback from 2.96, but the next parade is maybe 3.xx??
What do you think? I can't see any strong resistance in its way to 3, besides 3 level is nearly to 50 ema (weekly charts).
Jhon
Hi John,
no
I have learned, that candlestick patterns are very powerfull, but they have to be used above or below a good support/resistance. This system gives, like other systems (fibonacci) good hints.
1.70 because of the green weekly line.
If you like, give my journal (see signature) a try, itīs about ichimoku system.
Of couse, if daily blue line is broken we go higher, but its not in the charts yet.
, I'll take a look to 5 pages, I think isn't so hard to read it 
agreed
On my weekly chart it is 3.0218
But what is more importend, is the weekly candle before the bullish candle 
This weekly candle closed below a significant weekly support in my charts. This makes the bullish engulfing candle just a re- test of the broken support.
Defective yes I think so because of the upper wicks also because of the decreasing bodies.The pattern was not healthy.
It was easy to see the bears were losing power ,then nice Hammer reaching into Fridays candle.
On h4 piercing Line ,3 inside up off Tl ,retrace clear.
"Luvly jubbly"
I like to post my USDLFX point of view, of course I might be wrong
In post 8230 I asked rethorical, if the monthly isnīt a three bearish crow pattern ??? In my eyes, it is...
It is very importend in candlestick pattern, to know where something happend.
So by watching the weekly chart, last bullish weekly some might think, great a bullish engulfing candle.
Peter good thoughts......my Problem on USDlite FX....the 3 rd Candle on the three Crows formation is too Big compared to the 2 previous bars,at present GBP/Euro and USD Lite Fx are all sitting at FIBO levels......will be very intresting next 2 days..
baz
: Hi baz,
I also have in my mind, that usd/lfx might form a double bottom, but for weekly ichimoku traders, we have just entered bear territory, where we go short
http://www.forexfactory.com/showpost...5&postcount=75
For me eur/usd will go 1,42 if broken 1,45-1,46, and GU > 1,70, also the yen will continue to fall...lets see
This indicates for me, that there is a big player with this, to push price higher. We now see the retrace, before it will go higher.
I think, we might call this aud/usd daily a bullish engulfing (powerfull).
Long this one, 0.8530
Nice Analysis Peter!
Long de Aussie is an A+ trade, I mean, is a very good setup, I hope you're enjoying your green from long in GBPLFX
Have a nice day and keep it up your excellen analysis on this thread!
Thanks!
Jhon
for a break, because otherwise we will see a boring range during summer. (Notice daily hammer on eur/lfx as well).
