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Daily candle chart

  • #8,621
  • Jun 22, 2009 11:31am Jun 22, 2009 11:31am
Hi jhon, I hope bulls are strong enough, but we have only one re- test of the broken range, so a second test might possible, just to proof, that this range is gone.



Quoting JhonMonsalve
Hi Peter!

I see you're doing very well last week and this, $ bulls are in charge now, this daily candle forming is pretty nice, is like a bullish engulfing, what do you think?

Close above 1.8280 huh? I think is possible...

Attachment

Jhon

P.S: Thanks for your excellent analysis
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  • #8,622
  • Jun 22, 2009 11:35am Jun 22, 2009 11:35am
Quoting peaches
Hi jhon, I hope bulls are strong enough, but we have only one re- test of the broken range, so a second test might possible, just to proof, that this range is gone.
I know what you mean, I'll be waiting for a retest of 1.81xx area to load more shorts on Majors/$, pretty nice huh?

Jhon
"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
  • #8,623
  • Jun 22, 2009 11:40am Jun 22, 2009 11:40am
nzd/usd:

I have no name for this pattern, but notice the lower opening from today compared with last fridays close, this is a bearish indication. Bears have so much power that price is opening so much down. Also missing upper wick is bearish.

edit: looking closer, this might be a simple bearish engulfing candle, but opening is defenitly worth a notice !

I trade for the test of the trendline, if it is rejected there I will go short if the bounce is over.
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  • #8,624
  • Jun 24, 2009 1:51am Jun 24, 2009 1:51am
Hi everyone,
with bearish engulfing on daily and USDLFX breaking out of the triangle on H4, do you think it's possible the consolidation/correction is over?
Attached Image(s) (click to enlarge)
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  • #8,625
  • Jun 24, 2009 2:13am Jun 24, 2009 2:13am
possible but only the close will tell us. If you look at the weekly GBP LFX ascending triangle, it broke beneath the initial trendline low several times before closing up above.
  • #8,626
  • Edited 3:41am Jun 24, 2009 3:11am | Edited 3:41am
Well its difficult to say if we are to break out of consolidation zone just cause we broke the short term rising TL ,but the engulfing was real nice and I would think we will go to the bottom of the range.Of course we near the end of the month and this is where things could get real intresting...



Quoting Pipsy108
Hi everyone,
with bearish engulfing on daily and USDLFX breaking out of the triangle on H4, do you think it's possible the consolidation/correction is over?
Attached Image(s) (click to enlarge)
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  • #8,627
  • Jun 24, 2009 3:23am Jun 24, 2009 3:23am
Still not actually at break out 2.5500 is hard to break ,falling unconfirmed tl just above that


Quoting Bones
Hi ezodisy but Eurlfx is not at break out
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  • #8,628
  • Jun 24, 2009 3:30am Jun 24, 2009 3:30am
And the weekly ,I think dosent look that bearish
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  • #8,629
  • Jun 24, 2009 5:28am Jun 24, 2009 5:28am
Of course the pound has been range bound too ,1.6660 also a tough nut to crack ,traders wary of the weekly shooting star a few weeks ago.
But trend in tact.
Attached Image(s) (click to enlarge)
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  • #8,630
  • Jun 24, 2009 5:42am Jun 24, 2009 5:42am
crunch time?
Attached Image (click to enlarge)
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  • #8,631
  • Jun 24, 2009 1:41pm Jun 24, 2009 1:41pm
What are people's thoughts on AUD?

Long wick on yesterday's daily pointed to rejection of lower price, and we had confirmation today, however, although it looks like a morning star formation, it seems to occur in consolidation, so I'm not that convinced by it.

The H4 paints a picture of AUD being in a downward channel, with it just having bounced off the UTL.
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  • #8,632
  • Jun 24, 2009 2:36pm Jun 24, 2009 2:36pm
Quoting daffy
What are people's thoughts on AUD?

Long wick on yesterday's daily pointed to rejection of lower price, and we had confirmation today, however, although it looks like a morning star formation, it seems to occur in consolidation, so I'm not that convinced by it.

The H4 paints a picture of AUD being in a downward channel, with it just having bounced off the UTL.
Hi daffy, this depends on 4 h close.

imho:
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  • #8,633
  • Jun 24, 2009 2:38pm Jun 24, 2009 2:38pm
remember last weeks weekly candle
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  • #8,634
  • Jun 24, 2009 2:40pm Jun 24, 2009 2:40pm
worth a notice:
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  • #8,635
  • Jun 24, 2009 2:43pm Jun 24, 2009 2:43pm
eurusd, maybe...
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  • #8,636
  • Edited 3:43pm Jun 24, 2009 3:08pm | Edited 3:43pm
Quoting Bones
Of course the pound has been range bound too ,1.6660 also a tough nut to crack ,traders wary of the weekly shooting star a few weeks ago.
But trend in tact.
tony I have the fibo extension level 127.20 of the last bull run exactly 1.6830 plus I have the weekly 50 % fibo level at 1,6830 ...

coincident ?

edit for 3. chart: I have 3 fibo level confluence for 1.683
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  • #8,637
  • Jun 24, 2009 3:15pm Jun 24, 2009 3:15pm
I have never traded gbp/aud (as far as I remember), but with a bullish gbp/lfx and a bearish aud/lfx
I have a look.

a 4 h bullish engulfing plus a nice upward channel.

offtopic: a channel is made of 3 or more touches of trendline of each side.
I wasn´t aware of this a long time, so I think I mention it.
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  • #8,638
  • Edited 3:45pm Jun 24, 2009 3:38pm | Edited 3:45pm
Quoting daffy
What are people's thoughts on AUD?

Long wick on yesterday's daily pointed to rejection of lower price, and we had confirmation today, however, although it looks like a morning star formation, it seems to occur in consolidation, so I'm not that convinced by it.

The H4 paints a picture of AUD being in a downward channel, with it just having bounced off the UTL.
AUD_USD Spot.png

daffy i have a BEARISH ENGULFING on the 4 hr TF...
PS Dont be in a hurry to take a trade,wait for Daily candle to close

baz
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  • #8,639
  • Jun 25, 2009 1:49am Jun 25, 2009 1:49am
Hey Peter I have no doubt at all if that 1.6660 breaks we will go to 127 this is the secret Hussin has revealed .
127.20 is the correct fib?
Only the sideways motion carries on so direction revealed if that high or 1.6200 Daily breaks and closes I think now...Yesturdays candle looks bearish tho I think could have been worse if red.

Quoting peaches
tony I have the fibo extension level 127.20 of the last bull run exactly 1.6830 plus I have the weekly 50 % fibo level at 1,6830 ...

coincident ?

edit for 3. chart: I have 3 fibo level confluence for 1.683
Attached Image (click to enlarge)
Click to Enlarge Name: 4) gbp usd d1 25 june.gif Size: 15 KB
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  • #8,640
  • Jun 25, 2009 2:04am Jun 25, 2009 2:04am
On the weekly I would agree with Hussin that the candle as it is now is a victory for the bears.
Attached Image (click to enlarge)
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