lol ,Peter I visit your journal ever day ,it is of great interest to me ,I like cloud trading and Demark.
On-site guru & also FF member's' psychiatrist, when not drinking tea
- #8,541
- Jun 18, 2009 1:13pm Jun 18, 2009 1:13pm
- Joined Nov 2007 | Status: left CanaryWharf desk-tea break | 24,286 Posts
- #8,542
- Jun 18, 2009 1:14pm Jun 18, 2009 1:14pm
- Joined Oct 2007 | Status: Take The A-Trade | 2,303 Posts
I wait for shorting pound pairs, until this 4 candle is closed around
2.9655...
, right to the pip Sir!, GBPLFX is bouncing from there!Jhon
"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
- #8,543
- Jun 18, 2009 3:19pm Jun 18, 2009 3:19pm
- Joined Oct 2007 | Status: Trader | 3,461 Posts
Jhon,
I study this blue line on 4 h chart since 2 weeks with growing interest.
This line, price always want to come back to it. It is magnetic. Magical.
You see bearish breakout and bounce back to the blue line, a bit above this blue line. Bears and bulls are in balance here, it is a middle point. See candlestick on 4 h chart, a doji = balance.
From here there is a decison, where to go next. Candlestick pattern now will guide me, where to go.
Entry near this blue line with valid candlestick pattern will reduce losses.
You notice, price stayed above blue line for more then 10 days. Yesterday it drops below this line, it changed from support to resistance, and was tested.
From this morning I never thought about stop loss hunting is existing, I thought stop loss hunting is excuse for bad trading decision, but the candle I marked in the 4 hour chart defenitly was SL hunting. One trade SL was hit, one trade was succesfull, so a bit profit on this 2 trades.
Time will tell if todays candle is a hammer, or a on neck pattern.
I study this blue line on 4 h chart since 2 weeks with growing interest.
This line, price always want to come back to it. It is magnetic. Magical.
You see bearish breakout and bounce back to the blue line, a bit above this blue line. Bears and bulls are in balance here, it is a middle point. See candlestick on 4 h chart, a doji = balance.
From here there is a decison, where to go next. Candlestick pattern now will guide me, where to go.
Entry near this blue line with valid candlestick pattern will reduce losses.
You notice, price stayed above blue line for more then 10 days. Yesterday it drops below this line, it changed from support to resistance, and was tested.
From this morning I never thought about stop loss hunting is existing, I thought stop loss hunting is excuse for bad trading decision, but the candle I marked in the 4 hour chart defenitly was SL hunting. One trade SL was hit, one trade was succesfull, so a bit profit on this 2 trades.
Time will tell if todays candle is a hammer, or a on neck pattern.
- #8,545
- Jun 18, 2009 3:37pm Jun 18, 2009 3:37pm
- Joined Oct 2007 | Status: Trader | 3,461 Posts
weekly is not closed yet, so we should not look at weekly close, but
for educational purpose it might be allowed:
weekly candlestick is at the moment a black opening marubozu:
http://www.candlesticker.com/Cs24.asp
Even if bulls work hard tommorrow, there will be not more then a doji.
So direction for aud/lfx is
On the daily we see a morning star pattern:
http://www.candlesticker.com/Cs59.asp
But on 4 h chart we see a bearish dark cloud cover,
price opened higher then the previous close, but bears
are very strong and pushed it beak. Compare the close of
bull candle and the open bearish 4 candle.
http://www.candlesticker.com/Cs48.asp
so this gives us hint: price will fall first a bit, than "somewhere"
find support and will move up then.
So we get, what we have seen last days, no trend, more a range.
for educational purpose it might be allowed:
weekly candlestick is at the moment a black opening marubozu:
http://www.candlesticker.com/Cs24.asp
Even if bulls work hard tommorrow, there will be not more then a doji.
So direction for aud/lfx is
On the daily we see a morning star pattern:
http://www.candlesticker.com/Cs59.asp
But on 4 h chart we see a bearish dark cloud cover,
price opened higher then the previous close, but bears
are very strong and pushed it beak. Compare the close of
bull candle and the open bearish 4 candle.
http://www.candlesticker.com/Cs48.asp
so this gives us hint: price will fall first a bit, than "somewhere"
find support and will move up then.
So we get, what we have seen last days, no trend, more a range.
- #8,546
- Jun 18, 2009 3:42pm Jun 18, 2009 3:42pm
- Joined Oct 2007 | Status: Trader | 3,461 Posts
Hi peaches, this could be a shooting star?
I see a pullback in the trendline.
thanks,
shootig star appears at the top of atrend, so, I wouldn`t call it a shooting star, but however, the long upper wick is expression of bear power.
Everytime you see candles with long wicks, this should draw traders attention.
Maybe 4 h chart is more easy to read:
A three outside down (not perfect, because second candles does not engulf last bull candle, but in life most thinks are not perfect):
http://www.candlesticker.com/Cs76.asp
It is a pretty reliable pattern
- #8,548
- Jun 18, 2009 3:55pm Jun 18, 2009 3:55pm
- Joined Oct 2007 | Status: Take The A-Trade | 2,303 Posts
Jhon,
I study this blue line on 4 h chart since 2 weeks with growing interest.
This line, price always want to come back to it. It is magnetic. Magical.
You see bearish breakout and bounce back to the blue line, a bit above this blue line. Bears and bulls are in balance here, it is a middle point. See candlestick on 4 h chart, a doji = balance.
From here there is a decison, where to go next. Candlestick pattern now will guide me, where to go.
Entry near this blue line with valid candlestick pattern will reduce losses.
You notice,...
I'm more short biased on GBPLFX, at least until 2.90, but as you say, this line is the balance, I hope for a close of the daily candle in 5 mins (SIG TRADER PLATFORM), and maybe take the better choice
Jhon
"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
- #8,549
- Jun 18, 2009 4:03pm Jun 18, 2009 4:03pm
- Joined Oct 2007 | Status: Trader | 3,461 Posts
Thanks for the great explanation Peter!
I'm more short biased on GBPLFX, at least until 2.90, but as you say, this line is the balance, I hope for a close of the daily candle in 5 mins (SIG TRADER PLATFORM), and maybe take the better choice
Jhon
Iám short with target 2,9360. Lets see, market can´t be predicted,
because every news will destroy pattern and harmony in price movement.
have a nice asia session, bed time here
- #8,550
- Jun 18, 2009 4:05pm Jun 18, 2009 4:05pm
- Joined Oct 2007 | Status: Take The A-Trade | 2,303 Posts
Hi jhon,
Iám short with target 2,9360. Lets see, market can´t be predicted,
because every news will destroy pattern and harmony in price movement.
have a nice asia session, bed time here
Good night!
"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
- #8,551
- Jun 18, 2009 4:08pm Jun 18, 2009 4:08pm
- Joined Oct 2007 | Status: Trader | 3,461 Posts
Thanks Peter,
Peter, and what do you think of a Dark cloud cover in that case?
Becuase the second black candlestick closes within and below the midpoint of the previous white body, and the open just a little high.
(sorry for noobs questions)
For aud/usd my target remains 77.30 or 77.60
good night
- #8,553
- Jun 18, 2009 4:13pm Jun 18, 2009 4:13pm
Thanks Peter,
I appreciate it your great help
I appreciate it your great help
for a good dark cloud cover the opening should be a bit higher, but see missing lower wick at close, this are bears.
For aud/usd my target remains 77.30 or 77.60
good night
What does not kill me makes me stronger. Friedrich Nietzsche,
- #8,554
- Jun 19, 2009 12:02am Jun 19, 2009 12:02am
- Joined Oct 2007 | Status: Trader | 3,461 Posts
every range must come to an end.
Question is, in which way will be the breakout ?
Question is, in which way will be the breakout ?
- #8,555
- Jun 19, 2009 12:05am Jun 19, 2009 12:05am
- Joined Oct 2007 | Status: Trader | 3,461 Posts
Hussin, what do you see for tnx ? 
- #8,556
- Jun 19, 2009 12:06am Jun 19, 2009 12:06am
- Joined Oct 2007 | Status: Trader | 3,461 Posts
In asia they say: sell every doji
Lets see, if it works...
Lets see, if it works...
- #8,558
- Jun 19, 2009 1:30am Jun 19, 2009 1:30am
- Joined Nov 2007 | Status: beginner | 7,828 Posts
Hussin, what do you see for tnx ?
up
- #8,559
- Jun 19, 2009 1:31am Jun 19, 2009 1:31am
- Joined Nov 2007 | Status: beginner | 7,828 Posts
In asia they say: sell every doji
Lets see, if it works...
- #8,560
- Jun 19, 2009 1:32am Jun 19, 2009 1:32am
- Joined Nov 2007 | Status: beginner | 7,828 Posts
every range must come to an end.
Question is, in which way will be the breakout ?