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Daily candle chart

  • #9,401
  • Oct 26, 2009 8:21am Oct 26, 2009 8:21am
Hi Jhon ,I think were safe calling that a defective hammer (as Hussin would may be)due to top wick ,pretty large for candle size.But there is a real defference between the 2 candles you point out which is the first one is after consoladation of some time ,a retest of the low...I see possibility for up but not ready to say bottom ,break trend on that personally.


Quoting JhonMonsalve
Hi dear traders!

Tony, baz, What do you think of this weekly candle on $??, nice bullish hammer on support [1.70], like Tony pointed last week, it looks like buying $ is the way to go this week

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Jhon
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  • #9,402
  • Oct 26, 2009 8:26am Oct 26, 2009 8:26am
Also the thing that stopped down trend 1st time was a pretty nice engulfing at the beginning of consolidation ,right now Im looking for somthing pretty
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  • #9,403
  • Oct 26, 2009 8:37am Oct 26, 2009 8:37am
With regard to Cable we have conflicting price action which has taken me by supprise ,But we are in range at mo ,which means consolidation .Candles have a very short life in consolidation ...take a look at previous candles off 6700.
but there is a very nice shooting star with so much space at high level which will always be a tuff nut to crack ,tho wick is not really long.
in the bears favor we closed right under long term tl.

Also there is a gap down which I belive to be real on last week candle ,which doent seem right
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  • #9,404
  • Oct 26, 2009 9:08am Oct 26, 2009 9:08am
The monthly
This is the thing ,look at where price has gone on monthly If bears push price back down to month low by end of week ,what does that leave us with,? on cable
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  • #9,405
  • Oct 26, 2009 9:16am Oct 26, 2009 9:16am
Only one candle is in the correct location
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  • #9,406
  • Oct 26, 2009 9:37am Oct 26, 2009 9:37am
Quoting Bones
The eur has been difficult read has moved up to res ,Q, is can it take it
Hi Tony! I've been watching closely the €, it looks like a pullback is on its way!

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  • #9,407
  • Oct 26, 2009 9:43am Oct 26, 2009 9:43am
Quoting Bones
With regard to Cable we have conflicting price action which has taken me by supprise ,But we are in range at mo ,which means consolidation .Candles have a very short life in consolidation ...take a look at previous candles off 6700.
but there is a very nice shooting star with so much space at high level which will always be a tuff nut to crack ,tho wick is not really long.
in the bears favor we closed right under long term tl.

Also there is a gap down which I belive to be real on last week candle ,which doent seem right
Cable is a lil bit tricky at this moment, like I said to Baz yesterday, I'm waiting a pullback and then we'll see! [I'm going to sell the pound @2.81 GBPLFX - FL 500]

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  • #9,408
  • Oct 26, 2009 10:09am Oct 26, 2009 10:09am
Price defiantly struggling with pivot Jhon but I favor break up here during the week
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  • #9,409
  • Oct 26, 2009 10:13am Oct 26, 2009 10:13am
Quoting Bones
Price defiantly struggling with pivot Jhon but I favor break up here during the week
Yep Tony! € is buy on dips mode, any thought on Geppy?
"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
  • #9,410
  • Oct 26, 2009 12:41pm Oct 26, 2009 12:41pm
Quoting JhonMonsalve
Hi Tony! I've been watching closely the €, it looks like a pullback is on its way!

Attachment
So far so good, let's see how close this daily candle

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"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
  • #9,411
  • Oct 26, 2009 12:46pm Oct 26, 2009 12:46pm
Quoting Bones
Hi Jhon ,I think were safe calling that a defective hammer (as Hussin would may be)due to top wick ,pretty large for candle size.But there is a real defference between the 2 candles you point out which is the first one is after consoladation of some time ,a retest of the low...I see possibility for up but not ready to say bottom ,break trend on that personally.
Ok Tony! I see a breakout on $ index, probably next parade 1.75, hammer + confirmation on daily + Three White Soldiers pattern forming on daily charts. Take a look to weekly charts, what do you see?

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  • #9,412
  • Oct 26, 2009 5:03pm Oct 26, 2009 5:03pm
It may be jhon I have miss read the usdx weekly bounce and target is the lower tl as we discussed previously ,
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  • #9,413
  • Oct 26, 2009 5:07pm Oct 26, 2009 5:07pm
with regard to D1 I would be looking at the candle lows for reaction ,we are now running into res
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  • #9,414
  • Oct 26, 2009 5:19pm Oct 26, 2009 5:19pm
gold is on pull back mode as expected and I am looking to the highs ,to see if this is retest.On the weekly you can quite literally see the bull move run out of steam,but it really doesn't look like a top ,more pull back ,but could be spectacularly wrong.
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  • #9,415
  • Oct 26, 2009 6:42pm Oct 26, 2009 6:42pm
Quoting Bones
It may be jhon I have miss read the usdx weekly bounce and target is the lower tl as we discussed previously ,
Yep Tony, but I see the $ pretty bullish, I think the $ has more room to go up, at least 1.75, take a look to DJI or Oil, many clues about $ direction, on Asia all ppl is buying $, btw, take a look to LFXJPY, Bearish Engulfing on daily, a test of 53 - 52 is in order to resume bullish.

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Monthly:

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  • #9,416
  • Oct 27, 2009 6:03pm Oct 27, 2009 6:03pm
gold has created doji right off first blue line which is the old high
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  • #9,417
  • Oct 27, 2009 6:09pm Oct 27, 2009 6:09pm
Quoting Bones
gold has created doji right off first blue line which is the old high
Yep Tony! I see a doji [Evening star] on $ index too, the pound has more room to go up! like you pointed earlier.

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"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
  • #9,418
  • Oct 27, 2009 6:13pm Oct 27, 2009 6:13pm
Quoting JhonMonsalve
Yep Tony! I see a doji [Evening star] on $ index too, the pound has more room to go up! like you pointed earlier.

Attachment
Here's the GBP chart: I see a bullish continuation, after test the LTL, and close above 2.80, next important res is 2.85

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"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
  • #9,419
  • Oct 27, 2009 6:15pm Oct 27, 2009 6:15pm
Quoting Bones
with regard to D1 I would be looking at the candle lows for reaction ,we are now running into res
Thanks Tony! I was so bullish on $, but last time that I saw this post I've change my mind
"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
  • #9,420
  • Oct 27, 2009 6:24pm Oct 27, 2009 6:24pm
I think more spinning top ,can be continuation Jhon ,but black ,Im having trouble seeing above 7300 this week ,but bullish weekly close would be 3 candle set up, defective weekly hammer not powerful set up I dont think ,due to size,can such a candle drive us up through res this week?

I respect the bearish weekly doji on cable thats for sure ,
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