Daily candle chart

Tony if you have traded the inverted hammer on eur/lfx watch close here on lower timeframes if this level will be tested a few times and rejected. This might be a turning point. Its interisting to see, what will happen.

Imagine a bullish dollar and a falling eur for eur/usd during US session

I like to brink to you a few words from Mr. Nisons famous book
"JAPANESE CANDLESTICK CHARTING TECHNIQUES", which are very
importend and basic for trading with candlesticks. It took me
month to learn, not to fall in this trap:


"As discussed later in the text, drawing the individual candlestick
chart lines requires a close. Therefore, you may have to wait for the close
to get a valid trading signal. This may mean a market on close order may
be needed or you may have to try and anticipate (my comment: never anticipate in forex) what the close will be and place an order a few minutes prior to the close. You may also prefer to wait for the next day's opening before placing an order.

This aspect may be a problem but there are many technical systems (especially those based on moving averages of closing prices) which require a closing price for a signal. This is why there is often a surge in activity during the final few minutes of a trading session as computerized trading signals, based on closing prices, kick into play. Some technicians consider only a close above resistance a valid buy signal so they have to wait until the close for confirmation. This aspect of waiting for a close is not unique to candlestick charts.

On occasion, I can use the hourly candlestick charts to get a trade
signal rather than waiting for the close of that day. For instance, there
could be a potentially bullish candlestick pattern on the daily chart. Yet,
I would have to wait for the close before the candlestick pattern is completed.

If the hourly charts also show a bullish candlestick indicator during
that day, I may recommend buying (if the prevalent trend is up)
even before the close."

Hi - what do you mean with equilibrium? How to calculate? Sorry if I have overlooked the explanation in the thread...

Well, its off topic here so I wont go any deeper explanation.

Equilibrium is, where bulls and bears are in balance, its a middlepoint. Price ALWAYS wants to get there first. Some call it pivot points, or in other system like ichimoku its the kijun sen.

But lets not discuss this further here, because thread should be on topic.

http://www.kumotrader.com/ichimoku_w...ents#Kijun_Sen

GU is on it´s way...

hi dear all

Tony maybe we will see a small up for EURUSD by defective inverted hammer now for 1.3920 and then fall

a bullish doji pattern for EUR LFX(daily )

a bearish hanging man pattern + a confirmation for GBP LFX (daily)

a bearish long legged doji pattern for previous days (LFX JPY) and for today a identical 3 crows bearish pattern (defective)

a evening doji star pattern for previous days (AUD LFX) today + a confirmation

for daily candle chart CAD LFX we can see only red candles red candles

attention to EUR LFX

yes

we can see a good work by a bearish hanging man pattern(weekly) now

but whether this pattern will show to us a bearish evening star pattern in the next time ??

with more fall USDYEN we must pay attention to EURAUD GBPAUD

peter i will see you in the Hawaii

if you look to H4 EURUSD(FX) you can see a long upper wick for previous H4 . maybe a signal short by bear camp

Usd lfx up
cad lfx down
aud lfx down
nzd lfx down