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Daily candle chart

  • #12,461
  • Aug 22, 2011 12:39pm Aug 22, 2011 12:39pm
Quoting peaches
thats nothing magic, but just price behavior of the past.

Question is, if bears will last only for 1-2 more days, or if drops much lower. Time will tell...

Eyes on usd/jpy

not really liking this for short peter..i think price is resting 9basing) on support to go higher
gbplfx looking quite healthy

have a good one!
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  • #12,462
  • Aug 22, 2011 12:54pm Aug 22, 2011 12:54pm
Gotcha!


Quoting peaches
you should find liteforex-index here:

man, what a thin market. donīt like thin markets.
  • #12,463
  • Aug 22, 2011 1:43pm Aug 22, 2011 1:43pm
Quoting nAVIN2007
not really liking this for short peter..i think price is resting 9basing) on support to go higher
gbplfx looking quite healthy

have a good one!
well, price is testing support today, and it is a good support.

GU will go way A) or way B) I can`t predict the market. Market does, what it likes. It is a propability business. From statistical point of view we have a 79 % propability, that gbp/lfx will fall.

Mr. Thomas Bulkowski "Encoclopadia of candlestick patterns" (2008):

Reversals: Bull Market
The top 15 best candles acting as reversals in bull markets are (based on how often price reverses, shown as a percentage):
1. Three stars in the South: 86%
2. Three-line strike, bearish: 84%
3. Three white soldiers: 82% (???)
4. Identical three crows: 79%
5. Engulfing, bearish: 79%

That does not mean, GU will fall, because, USD/lfx might fall more then gbp/lfx, which will cause GU to rise.

But hey, I have good arguments in my charts, that GU will fall, lets market decide. I`am in a free trade since 1.66047. Worst thing that can happen for me is BE +1
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  • #12,464
  • Aug 22, 2011 2:30pm Aug 22, 2011 2:30pm
Question: What do we see here on UJ, if it closes like this ?
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  • #12,465
  • Aug 22, 2011 2:32pm Aug 22, 2011 2:32pm
Quoting peaches
well, price is testing support today, and it is a good support.

GU will go way A) or way B) I can`t predict the market. Market does, what it likes. It is a propability business. From statistical point of view we have a 79 % propability, that gbp/lfx will fall.

Mr. Thomas Bulkowski "Encoclopadia of candlestick patterns" (2008):

Reversals: Bull Market
The top 15 best candles acting as reversals in bull markets are (based on how often price reverses, shown as a percentage):
1. Three stars in the South: 86%
2. Three-line strike, bearish: 84%
3....
lets hope we both lucky
  • #12,466
  • Aug 22, 2011 2:39pm Aug 22, 2011 2:39pm
Quoting peaches
Question: What do we see here on UJ, if it closes like this ?
Possible Tri Star formation( Medium Risk ), needing forth candle for confirmation ( preferably with gap to the up side )

ps. also long upper wick of current candle suggest bulls have some buying...
  • #12,467
  • Aug 22, 2011 2:47pm Aug 22, 2011 2:47pm
Quoting Chillypiper
Possible Tri Star formation( Medium Risk ), needing forth candle for confirmation ( preferably with gap to the up side )


http://www.candlesticker.com/Cs56.asp

I have not seen this pattern in my trading career (~4 years).

Very interisting, but also dangerous:

"Steve Nison developed the bullish tri-star candle pattern, and it’s a rare
pattern that shows a reversal rate of 60% in a bull market. A check of the
pattern in its native environment shows that it appears most often in thinly
traded stocks, and many times it doesn’t work well when it does occur. In a
longer-term downtrend, it’s almost dangerous. Price may break out upward, but the move often isn’t a lasting one. Even in a retracement of an uptrend where many reversal candles excel, this one is prone to premature breakouts.
The stock tries to move up but stalls and then drops to form a stronger base upon which to launch a new up move. However, the flip side is reassuring. When price moves horizontally (it has in the past !) (or even trends downward), a tri-star may signal the start of a wonderful up move. Sometimes it’s a month or so premature, but other times its timing is precise. The psychology behind the pattern is unrevealing. The bears have control by pushing price lower leading to the start of the bullish tri-star. Then three doji print on the chart. Each says that the bulls and bears are undecided about the direction the stock should take. The only clue is that the middle doji is lower than the adjacent ones. This suggests a turn from bearish to bullish."

Thomas Bulkowski "Encyclopadia of candlestick charts".

I`am very tempted to go long.
  • #12,468
  • Aug 22, 2011 3:19pm Aug 22, 2011 3:19pm
Quoting peaches


http://www.candlesticker.com/Cs56.asp

I have not seen this pattern in my trading career (~4 years).

Very interisting, but also dangerous:

"Steve Nison developed the bullish tri-star candle pattern, and it’s a rare
pattern that shows a reversal rate of 60% in a bull market. A check of the
pattern in its native environment shows that it appears most often in thinly
traded stocks, and many times it doesn’t work well when it does occur. In a
[i]longer-term downtrend, it’s almost dangerous....
Great stuff Peter!

G/J Buy orded filled @ 127.27 with lastnight spike...Not a good candle today though..
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  • #12,469
  • Edited 1:56pm Aug 23, 2011 1:41pm | Edited 1:56pm
hello,

do you guys trade gold on the daily chart?
looks like gold is forming bearish engulfing. anyone interested?

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  • #12,470
  • Aug 23, 2011 2:32pm Aug 23, 2011 2:32pm
quiet right actually it is a beob. but you have a support @ 1800.
so the risk and reward is not in our favour . and the trend is still up.. so from my own preview i will stay out side till tommorow...
  • #12,471
  • Aug 24, 2011 12:35pm Aug 24, 2011 12:35pm
Quoting peaches
well, price is testing support today, and it is a good support.

GU will go way A) or way B) I can`t predict the market. Market does, what it likes. It is a propability business. From statistical point of view we have a 79 % propability, that gbp/lfx will fall.

Mr. Thomas Bulkowski "Encoclopadia of candlestick patterns" (2008):

Reversals: Bull Market
The top 15 best candles acting as reversals in bull markets are (based on how often price reverses, shown as a percentage):
1. Three stars in the South: 86%
2. Three-line strike, bearish: 84%
3....
  • #12,472
  • Aug 24, 2011 12:44pm Aug 24, 2011 12:44pm
Quoting nAVIN2007
I`am interistet to see the monthly close

GU has now nice support below, might take time to go through.
  • #12,473
  • Aug 24, 2011 12:47pm Aug 24, 2011 12:47pm
time for decison, where USD will go...
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  • #12,474
  • Aug 24, 2011 12:52pm Aug 24, 2011 12:52pm
Just a quick thank you to peaches, hussajin - I am a daily reader.

I`ll try to get the LFX charts.

I am currently watching audusd daily - if it breaks below 1.0446 on daily close, and eurcad looks like compressing into a resistance/supply level.

Good trading to all.


_________
michael
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Be like water.
  • #12,475
  • Aug 24, 2011 12:56pm Aug 24, 2011 12:56pm
something to watch for:

long time awaiting for this.

just compare length of the candles with previous ones. Last time seen on 10.08.11. So this got my attention.
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  • #12,476
  • Aug 24, 2011 1:21pm Aug 24, 2011 1:21pm
Quoting peaches
time for decison, where USD will go...

yes 1.58 is a tough nut (USDLFX), i hope this isnt another retest as well..i took a short on cable today


USD has a chance trendline is holding me thinks peter
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  • #12,477
  • Aug 24, 2011 1:48pm Aug 24, 2011 1:48pm
Quoting nAVIN2007
yes 1.58 is a tough nut (USDLFX), i hope this isnt another retest as well..i took a short on cable today


USD has a chance trendline is holding me thinks peter
If stock market falls, USD will rise.

And if stock market falls, commodity currencys will fall.

Daily shows inverted hammer with confirmation, but today ? Is today daily abortion of inverted hammer ? 4 h chart also interisting doji.
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  • #12,478
  • Aug 24, 2011 2:08pm Aug 24, 2011 2:08pm
Quoting peaches
If stock market falls, USD will rise.

And if stock market falls, commodity currencys will fall.

Daily shows inverted hammer with confirmation, but today ? Is today daily abortion of inverted hammer ? 4 h chart also interisting doji.
thats very interesting

is this chart the same thing?..
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  • #12,479
  • Aug 24, 2011 2:33pm Aug 24, 2011 2:33pm
Quoting peaches
If stock market falls, USD will rise.

And if stock market falls, commodity currencys will fall.

Daily shows inverted hammer with confirmation, but today ? Is today daily abortion of inverted hammer ? 4 h chart also interisting doji.
pls look daily candle chart GOLD for up or down USD
  • #12,480
  • Aug 24, 2011 2:54pm Aug 24, 2011 2:54pm
Quoting hussin naiji
pls look daily candle chart GOLD for up or down USD

gold is down id say
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