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  • #426,841
  • Apr 21, 2011 4:45pm Apr 21, 2011 4:45pm
Quoting apt
Forget bear flag, I'm looking at a Bearish Engulfing on my H4.

And an interesting candle formation on the daily.
I think a much safer way to look at the engulfing is 4480. The entire last bullish structure should be engulfed for shorts.
  • #426,842
  • Apr 21, 2011 4:51pm Apr 21, 2011 4:51pm
Quoting apt
And an interesting candle formation on the daily.
Indeed, seems like classic example of shooting star. Usually quite accurate bearish warning. Wonder how it will play out due to holidays though.
  • #426,843
  • Apr 21, 2011 5:02pm Apr 21, 2011 5:02pm
  •  apt
  • | Joined Oct 2010 | Status: All your cookies are belong to me. | 1,114 Posts
Well, I wonder if we will get a hint of where we're going next week by tomorrow's close.

Or if it will just range out.
  • #426,844
  • Apr 21, 2011 5:05pm Apr 21, 2011 5:05pm
Good Friday !

I am glad ASX is closed today so I can focus more on Forex and youtube

Inserted Video
  • #426,845
  • Apr 21, 2011 5:39pm Apr 21, 2011 5:39pm
Gold,Oil and Silver markets all closed today so no guidance from that sector.
  • #426,846
  • Apr 21, 2011 5:45pm Apr 21, 2011 5:45pm
Quoting attila
I think a much safer way to look at the engulfing is 4480. The entire last bullish structure should be engulfed for shorts.
yep... or failure at break out.. a wick above 4520 closed below on the weekly or monthly. followed up by the next engulfed would be nice. but this gives a clue too. added all up its strong.. not closing above 4520 is one thing... 4505 is another ... and 4480/85 and 4430 is better.. Its Friday.. we can go back to the top and still drop before the close... weekly R3 is within reach and so is the yearly 3718... 3718 100 pips one way or the other is a hit..the high is in that zone.
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those who can, do. those who cant, talk about those who can
  • #426,847
  • Apr 21, 2011 5:45pm Apr 21, 2011 5:45pm
tomorrow is not good for trading with close nasdaq ?

low volatility ?
  • #426,848
  • Apr 21, 2011 5:52pm Apr 21, 2011 5:52pm
Quoting wallstreet03
tomorrow is not good for trading with close nasdaq ?

low volatility ?
a pip is a pip. it pays/cost the same either way.
those who can, do. those who cant, talk about those who can
  • #426,849
  • Apr 21, 2011 5:57pm Apr 21, 2011 5:57pm
Thurs daily candle has short written all over it...Not saying this goes down but bulls could have run out of steam.
  • #426,850
  • Apr 21, 2011 5:58pm Apr 21, 2011 5:58pm
Quoting siboy
Gold,Oil and Silver markets all closed today so no guidance from that sector.
Pits are closed. Not electronic after hours.

Edit: opps forgot Easter, nevermind.
  • #426,851
  • Apr 21, 2011 6:20pm Apr 21, 2011 6:20pm
Quoting Spik
Indeed, seems like classic example of shooting star. Usually quite accurate bearish warning. Wonder how it will play out due to holidays though.

Certainly is a classic example with bearish divergence on the daily to boot
  • #426,852
  • Apr 21, 2011 6:24pm Apr 21, 2011 6:24pm
Short if price can sustain below 1.4520....Sustain above 1.4650 go long.
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  • #426,853
  • Apr 21, 2011 6:26pm Apr 21, 2011 6:26pm
Quoting ferndog
Thurs daily candle has short written all over it...Not saying this goes down but bulls could have run out of steam.
Agreed. As tempted as it is for me to enter short at its current level, I decided against it for the SL I would have to place will have to be a few pips above the top of the wick and that is waaaaaaay too many pips away for me to set a comfortable SL. That's why for now I am looking in the lower TF (M15) for an entry.
  • #426,854
  • Apr 21, 2011 6:33pm Apr 21, 2011 6:33pm
Quoting siboy
Certainly is a classic example with bearish divergence on the daily to boot
and the weekly has bearish divergence also
  • #426,855
  • Apr 21, 2011 6:35pm Apr 21, 2011 6:35pm
I traded light lots today but I'm overall happy

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  • #426,856
  • Apr 21, 2011 6:36pm Apr 21, 2011 6:36pm
st is up to 4519.7 maybe long term
those who can, do. those who cant, talk about those who can
  • #426,857
  • Apr 21, 2011 6:40pm Apr 21, 2011 6:40pm
i think we will range untill a breakout to the upside.. im long at 36 s/l 16 tp 1.4616
  • #426,858
  • Apr 21, 2011 6:52pm Apr 21, 2011 6:52pm
im not a fan.. but maybe we need 4564 or 4568 first.
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those who can, do. those who cant, talk about those who can
  • #426,859
  • Apr 21, 2011 7:09pm Apr 21, 2011 7:09pm
Quoting gatorinla
im not a fan.. but maybe we need 4564 or 4568 first.
upper mofu got it atm
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those who can, do. those who cant, talk about those who can
  • #426,860
  • Apr 21, 2011 7:23pm Apr 21, 2011 7:23pm
May be a difficult (volatile / erratic) Asian Session with other markets closed for the holiday.
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