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Daily candle chart

  • #9,881
  • Jan 19, 2010 6:05pm Jan 19, 2010 6:05pm
Quoting JhonMonsalve
Now that's interesting, bearish shooting star on daily candle close today.

Attachment
GBP_USD Spot.png

Hi John.....a happy NEW YEAR...
12 Hr Tf..is Conclusive....BUT there are obstacles...
Price have closed above the DAILY TRENDLINE,LITEFX GBP broke out ofits CHANNEL as well...and a rising TL is in PLACE as well....

baz
Attached Image (click to enlarge)
Click to Enlarge Name: GBP_USD Spot.png Size: 11 KB
  • #9,882
  • Jan 19, 2010 6:17pm Jan 19, 2010 6:17pm
Quoting baz
GBP_USD Spot.png

Hi John.....a happy NEW YEAR...
12 Hr Tf..is Conclusive....BUT there are obstacles...
Price have closed above the DAILY TRENDLINE,LITEFX GBP broke out ofits CHANNEL as well...and a rising TL is in PLACE as well....

baz
Hi Baz! Happy new year to you too my friend

Yep, I've been thinking about that too, two strong currencies: pound & $, I just keep my SL tight, just in case.
"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
  • #9,883
  • Jan 19, 2010 8:36pm Jan 19, 2010 8:36pm
Quoting JhonMonsalve
I see a hanging man in your chart, the last candle.
Thanks JhonMonsalve for your analysis, I guess my understanding of the inside candle is wrong and need to read more on that.
Keeping Life Simple
  • #9,884
  • Jan 19, 2010 9:03pm Jan 19, 2010 9:03pm
Quoting time1300
Thanks JhonMonsalve for your analysis, I guess my understanding of the inside candle is wrong and need to read more on that.
Def: Inside candle is a candle that forms inside the previous candle, its highs and lows must never exceed that of the previous candle.

Check this example, inside candle is valid only if it has resulted immediately after an overbought or oversold indication [Sto, RSX, MACD...]

Attached Image


In your example, I think that those long wicks [Same or bigger than previous candle] cancel the concept about inside candle.

IMHO

Jhon
"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
  • #9,885
  • Jan 19, 2010 11:30pm Jan 19, 2010 11:30pm
Hello JhonMonsalve

Thanks and I enjoy your analysis. Pls. carry on.
If you may, pls. lead me to the RSX indicator shown in your chart.
May the pips go to you.
Attached Image
  • #9,886
  • Jan 19, 2010 11:40pm Jan 19, 2010 11:40pm
Quoting JhonMonsalve
Def: Inside candle is a candle that forms inside the previous candle, its highs and lows must never exceed that of the previous candle.

...

IMHO

Jhon
Hi Jhon, Time1300 & Seniors

I wish to have your clarification (as I am also a newbie) on the following term.

When you said "inside candle" did you mean "harami" as per item 11 in this link http://www.actionforex.com/articles-...-200605107114/
(sorry me has no affiliate to this link instead for educational reference)

What is "IMHO?"
(sorry English is not my main language)

Thanks
  • #9,887
  • Jan 20, 2010 3:37am Jan 20, 2010 3:37am
Hey amigo everythings cool enjoying $ bull run 1.7300 top of channel is a tough cookie ,good to see your keeping things going here..

Quoting JhonMonsalve
Tony

I'm doing nice, thanks, how r u doing amigo?

Thanks for share your charts, it's been a while, try to post your thoughts about $, mostly -if you don't have much time-, it's really appreciated.

I hope you're doing great on your work.

It looks like $ is back
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #9,888
  • Jan 20, 2010 3:42am Jan 20, 2010 3:42am
Hi time yes as Jhon says as long as the high or low are not breached its an inside candle also the more inside candles you get the better odds on a good break out ,
Basically an inside candle is consolidation ....

Heres somthing I copied somewhere else

IB/IBS4 (IB4) = Inside Bar/Inside Bar Smallest of 4. An IB4 is simply when you have an inside bar that has a smaller range (high/low) then the previous 3 bars. Although you can also have an IB5 or an IB10 etc.

The way the I4B is played is that you would go Short or Long depending on how it's broken by price. So if price went below the IB4's low you would go Short and vice versa. But most people will have a bias on where they think price will head so they will only play a break in that direction. Some will put a BUY stop above the IB4 bar and a SELL stop below.

An IB4 has to be inside the previous bar as well as having the smallest range of the previous 3 bars. If it's not inside the previous bar then it's not an IB4.[/

Quoting time1300
Thanks JhonMonsalve for your analysis, I guess my understanding of the inside candle is wrong and need to read more on that.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #9,889
  • Jan 20, 2010 7:11am Jan 20, 2010 7:11am
Quoting JhonMonsalve
I see some sort of Weekly bearish engulfing on LFXJPY, nice for further bearish movements this week, the Friday's candle close below 53

Attachment
Now is when dear traders!

A solid 4H candle close below 52.7xx area on LFXJPY, that's only means one thing ------>

Attached Image (click to enlarge)
Click to Enlarge Name: lfxjpy.gif Size: 12 KB


Don't dare to going long in any yen pair, is my humble advice.

Jhon
"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
  • #9,890
  • Jan 20, 2010 7:14am Jan 20, 2010 7:14am
Quoting JhonMonsalve
Hi Baz! Happy new year to you too my friend

Yep, I've been thinking about that too, two strong currencies: pound & $, I just keep my SL tight, just in case.
Baz

Nice trade so far, I'm lock in profits, free trade.

I'm going to keep this trade at least until 1.54 area

Attached Image (click to enlarge)
Click to Enlarge Name: cabledaily.gif Size: 20 KB
"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
  • #9,891
  • Jan 20, 2010 7:19am Jan 20, 2010 7:19am
Quoting pj.waterloo
Hello JhonMonsalve

Thanks and I enjoy your analysis. Pls. carry on.
If you may, pls. lead me to the RSX indicator shown in your chart.
May the pips go to you.
Check your PM!

Quoting pj.waterloo
Hi Jhon, Time1300 & Seniors

I wish to have your clarification (as I am also a newbie) on the following term.

When you said "inside candle" did you mean "harami" as per item 11 in this link http://www.actionforex.com/articles-...-200605107114/
(sorry me has no affiliate to this link instead for educational reference)

What is "IMHO?"
(sorry English is not my main language)

Thanks
IMHO = In my humble opinion

Check Tony [Aka Bones] post about Inside candles!
"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
  • #9,892
  • Jan 20, 2010 7:24am Jan 20, 2010 7:24am
Quoting Bones
Hey amigo everythings cool enjoying $ bull run 1.7300 top of channel is a tough cookie ,good to see your keeping things going here..
Thanks Tony! I hope you keep posting too, I mean, is always nice and useful check your inputs here buddy

Yep the $ bulls are back, I've drawn some FE here, first parade @1.755

Attached Image (click to enlarge)
Click to Enlarge Name: $index.gif Size: 15 KB


Hope you all are catching those pips! Trend is your friend!
"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
  • #9,893
  • Jan 20, 2010 7:25am Jan 20, 2010 7:25am
Quoting Bones
Hi time yes as Jhon says as long as the high or low are not breached its an inside candle also the more inside candles you get the better odds on a good break out ,
Basically an inside candle is consolidation ....

Heres somthing I copied somewhere else

IB/IBS4 (IB4) = Inside Bar/Inside Bar Smallest of 4. An IB4 is simply when you have an inside bar that has a smaller range (high/low) then the previous 3 bars. Although you can also have an IB5 or an IB10 etc.

The way the I4B is played is that you would go Short or...
"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
  • #9,894
  • Edited 11:37am Jan 20, 2010 10:54am | Edited 11:37am
This has been a great chart very sweet indeed for many reasons,target zone taken ,may start to think 8500 for ...


http://www.forexfactory.com/showpost...postcount=6521

http://www.forexfactory.com/showpost...postcount=9464
Attached Image (click to enlarge)
Click to Enlarge Name: eur gbp 20 jan 2010 weekly.gif Size: 15 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #9,895
  • Jan 20, 2010 11:01am Jan 20, 2010 11:01am
Quoting Bones
This has been a great chart very sweet indeed for many reasons,target zone taken ,may start to think 8500 for ...

http://www.forexfactory.com/showpost...postcount=6521
Great trade Tony! I was remembering that you had troubles with Strat b/c of that, and now look at it!
"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
  • #9,896
  • Jan 20, 2010 6:38pm Jan 20, 2010 6:38pm
Quoting JhonMonsalve

Check Tony [Aka Bones] post about Inside candles!

Hi Tony
Would you pls lead me to the post about the "Inside Candles?"
Thank you.
  • #9,897
  • Jan 20, 2010 6:56pm Jan 20, 2010 6:56pm
Hello Tony, Jhon, Baz, Cald & Seniors

I wish to have your comments about my trade which I took a short yesterday. The trend is down and now the candle is between SL and RL. What should a trader usually act to this?

Sorry I am being a newbie confused.. Close the trade? half trade?

I think I also am weak in setting the stop loss and target profit for Daily trades. Kindly guide.

Thank you so much for your time.
Attached Image (click to enlarge)
Click to Enlarge Name: opinion e-u.gif Size: 18 KB
  • #9,898
  • Jan 20, 2010 9:29pm Jan 20, 2010 9:29pm
Quoting pj.waterloo
Hello Tony, Jhon, Baz, Cald & Seniors

I wish to have your comments about my trade which I took a short yesterday. The trend is down and now the candle is between SL and RL. What should a trader usually act to this?

Sorry I am being a newbie confused.. Close the trade? half trade?

I think I also am weak in setting the stop loss and target profit for Daily trades. Kindly guide.

Thank you so much for your time.
in here you will find candlestick analysis but not trade advise.
Don't chase the market, Let the market come to you
  • #9,899
  • Jan 21, 2010 3:07am Jan 21, 2010 3:07am
Well I do feel I was attached unfairly lol ,bloke had the cheek to say that this thread was just another dead end method ....candles have been around a whole lot longer than his little "system"

actually try to put others posting here,seriously rubbed me up the wrong way ..


Quoting JhonMonsalve
Great trade Tony! I was remembering that you had troubles with Strat b/c of that, and now look at it!
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #9,900
  • Jan 21, 2010 3:09am Jan 21, 2010 3:09am
Great to have you back Tmac ,some order in the house which we need,any news on Hussin?

Quoting Tmac
in here you will find candlestick analysis but not trade advise.
On-site guru & also FF member's' psychiatrist, when not drinking tea
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