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Daily candle chart

  • #13,441
  • May 22, 2012 1:53pm May 22, 2012 1:53pm
Right thats equity market ,not sure what Hussin would say about gold but is correct for fx


Quoting baz
My Confusion..about the OPEN of Second candle ..

http://www.candlesticker.com/Cs52.asp

baz
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #13,442
  • May 22, 2012 2:02pm May 22, 2012 2:02pm
Quoting Bones
Right thats equity market ,not sure what Hussin would say about gold but is correct for fx
Ok ..thanks anyway.. BUT a LOWER Open on LAST WEEKS candle would have helped

take care

baz
  • #13,443
  • May 22, 2012 2:04pm May 22, 2012 2:04pm
not sure what you mean Baz have you seen this somewhere ?
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #13,444
  • May 22, 2012 2:20pm May 22, 2012 2:20pm
Quoting Bones
not sure what you mean Baz have you seen this somewhere ?
No.. just going by Candlesticler..of a OPEN below PREVIOUS LOWs BAR..
BUT dont go by what i say..as i am not too familar with this PATTERN..
However i have a Different Name i coined myself " FILLER BAR "..
Ie the Prvious BAR will GET FILLED ..

baz
  • #13,445
  • May 22, 2012 3:03pm May 22, 2012 3:03pm
Baz actually the name is not important ,really I try to understand the concept of
if a candle is created by buyers or sellers
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #13,446
  • May 22, 2012 3:05pm May 22, 2012 3:05pm
I hope we dont close bullish only 1hr to go so ...
but I think up against weekly
but up against monthly haha ,its whats holding things for now I feel
Attached Image (click to enlarge)
Click to Enlarge Name: gbp lfx d1 22-05-12 2.gif Size: 25 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #13,447
  • May 22, 2012 3:15pm May 22, 2012 3:15pm
Quoting Bones
Baz actually the name is not important ,really I try to understand the concept of
if a candle is created by buyers or sellers
Yes ..i understand..BUT i see from many of Your POSTs..YOU tend to REFER to WICKS quite a lot...even when they are Small..
i am trying to understand this Cocept..also HUSSIN too would refer to WICKS in identifying " BUYERs or SELLERs "..
i will pay more attention to yourposts when you refer to them..
Ps Not part of CandleSticks..BUT on Gold 4 hr Tf did You Notice the SUPPLY ZONE as PER SEIDENs work ??and a DROP followed

Tmac will kill me now..so sorry in advance

baz
  • #13,448
  • Edited 2:35am May 23, 2012 12:56am | Edited 2:35am
Quoting baz
Yes ..i understand..BUT i see from many of Your POSTs..YOU tend to REFER to WICKS quite a lot...even when they are Small..
i am trying to understand this Cocept..also HUSSIN too would refer to WICKS in identifying " BUYERs or SELLERs "..
i will pay more attention to yourposts when you refer to them..
Ps Not part of CandleSticks..BUT on Gold 4 hr Tf did You Notice the SUPPLY ZONE as PER SEIDENs work ??and a DROP followed

Tmac will kill me now..so sorry in advance

baz

It's not just the wicks that would invalidate the hammer reversal signal.

If the candle closes with a small wick on top and the candle opens below the previous candle close, it's a Bearish Neck in Line (like in the first chart below).

If the candle closes with a small wick on top but the candle opens above the close of the previous candle, it isn't a Bearish Neck in Line. (like the May 18th reversal candle on the GU 1 hour, second chart below)

It's a subtle difference that I didn't notice before. Thanks for sharing this.
Attached Image (click to enlarge)
Click to Enlarge Name: bearneck.png Size: 40 KB
  • #13,449
  • May 23, 2012 2:42am May 23, 2012 2:42am
Quoting J B Collins
It's not just the wicks that would invalidate the hammer reversal signal.

If the candle closes with a small wick on top and the candle opens below the previous candle close, it's a Bearish Neck in Line (like in the first chart below).

If the candle closes with a small wick on top but the candle opens above the close of the previous candle, it isn't a Bearish Neck in Line. (like the May 18th reversal candle on the GU 1 hour, second chart below)

It's a subtle difference that I didn't notice before....
thanks for this...
i will start paying more attention to Hussin and Tonys post..when any reference to " WICKS "..

baz
  • #13,450
  • May 23, 2012 2:46am May 23, 2012 2:46am
Quoting J B Collins
It's not just the wicks that would invalidate the hammer reversal signal.

If the candle closes with a small wick on top and the candle opens below the previous candle close, it's a Bearish Neck in Line (like in the first chart below).

If the candle closes with a small wick on top but the candle opens above the close of the previous candle, it isn't a Bearish Neck in Line. (like the May 18th reversal candle on the GU 1 hour, second chart below)

It's a subtle difference that I didn't notice before....

also from what i understand..there has to be a reversal pattern BEFORE the in neck line pattern is seen as well.
  • #13,451
  • May 23, 2012 4:41am May 23, 2012 4:41am
Baz I dont think Hussin has said ,hes real candle trader not text book ,

please refer to Hussin for info ,he has given tools
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #13,452
  • May 23, 2012 4:48am May 23, 2012 4:48am
Quoting desperate
heres a book nav

john

thanks buddy
Quoting Tmac
Nav, I have lots of candle books, email me
thanks tom
  • #13,453
  • May 23, 2012 4:50am May 23, 2012 4:50am
now what do you think about JPY



Quoting Bones
maybe you will witness weakening on Jpy pairs soon (buy jpy)
Attached Image (click to enlarge)
Click to Enlarge Name: lfx jpy d1 23-05 2.gif Size: 21 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #13,454
  • May 23, 2012 4:56am May 23, 2012 4:56am
the $ is above highs ,the $ is BULLISH
Attached Image (click to enlarge)
Click to Enlarge Name: usd lfx h4 1 23-5 -05 2.gif Size: 21 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #13,455
  • May 23, 2012 5:31am May 23, 2012 5:31am
Quoting Bones
Baz I dont think Hussin has said ,hes real candle trader not text book ,

please refer to Hussin for info ,he has given tools
i know this going to be hassle for You..but if you can can you direct me to any further posts regards to HUSSINs understanding of it..
If not ..no probs..i will scan in the W/E..
BUT i read in AUSLANCO thread where HUSSIN ,mentioned,he prefers to sees a reversal before the " NECK " patterns..
after all this my " NECK " is hurting !!!

baz
  • #13,456
  • May 23, 2012 5:35am May 23, 2012 5:35am
DJ Index HANGMAN.. TONYs favourite..!!!
anyway lets see what EoM confirms..




http://www.forexfactory.com/attachme...1&d=1337769338
Attached Image (click to enlarge)
Click to Enlarge Name: DJ INDUSTRIAL AVG.png Size: 11 KB
  • #13,457
  • May 23, 2012 5:44am May 23, 2012 5:44am
Baz your my friend/brother even but ...we must work hard to ...





Quoting baz
i know this going to be hassle for You..but if you can can you direct me to any further posts regards to HUSSINs understanding of it..
If not ..no probs..i will scan in the W/E..
BUT i read in AUSLANCO thread where HUSSIN ,mentioned,he prefers to sees a reversal before the " NECK " patterns..
after all this my " NECK " is hurting !!!

baz
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #13,458
  • May 23, 2012 6:21am May 23, 2012 6:21am
Quoting baz
also from what i understand..there has to be a reversal pattern BEFORE the in neck line pattern is seen as well.
As a pattern the On Neck has a slightly better chance than break even of working out. This is probably because a Takuri Line is a strong signal of buying pressure which can often outweigh the candle body open or close. It probably wouldn't have affected my confirmation for entry on my gold short yesterday (or a long if we had broken out on the high and other analysis supported the trade).

Like everything else, many of these patterns need to be considered against equally important factors, especially if the failure rate on them is high.
  • #13,459
  • May 23, 2012 6:28am May 23, 2012 6:28am
Quoting Bones
Baz your my friend/brother even but ...we must work hard to ...
WORK !! aarrhhh.. i hate that..
i am a professional layabout..!!
its ok ..no probs..
i will stick to the BREAD and BUTTER patterns for me !!

thannks

baz
  • #13,460
  • May 23, 2012 6:30am May 23, 2012 6:30am
Quoting J B Collins
As a pattern the On Neck has a slightly better chance than break even of working out. This is probably because a Takuri Line is a strong signal of buying pressure which can often outweigh the candle body open or close. It probably wouldn't have affected my confirmation for entry on my gold short yesterday (or a long if we had broken out on the high and other analysis supported the trade).

Like everything else, many of these patterns need to be considered against equally important factors, especially if the failure rate on them is high.
hi Collins..
i feel they are not a High reliability Pattern..BUT they do work..and i have profited from them..its ALL about location ..
thanks a lot for your insight as well..

baz
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