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  • #12,521
  • Nov 9, 2012 8:41am Nov 9, 2012 8:41am
Quoting DaddyBear
http://www.forexfactory.com/attachme...1&d=1352441641
The Aussie has reached the LTL so far. A bounce is in the cards.
Actually, the LTL was intact. So a test may still in the cards before bouncing off to 1.040x. IMO
daddybearforex. com
  • #12,522
  • Edited 8:54am Nov 9, 2012 8:43am | Edited 8:54am
Quoting DaddyBear
What is next? Can I find the answer in a pure candle chart?

I have been thinking the possibility of only using candles to make my judgements. Can this be done without any indicators? I think so. It may give me a clear picture ......
I like this guy's analysis - it is based on candles and on support resistance lines. The problem with his analysis is that he doesn't look at trend lines quite as much - and given that his analysis is based on daily candles - he overlooks the weekly chart. Still - I do like his analyses overall.
Check it out.www(dot)youtube.com/user/FXEmpirecom/videos?view=0 (http://www.youtube.com/user/FXEmpirecom/videos?view=0)

He's not a scalper though.... so I'm not sure if it's of any use to you - but it does provide some idea on how tech analysis using candles is done by pros.
BTW - he uploads new data on daily basis. Consistent.
  • #12,523
  • Nov 9, 2012 9:02am Nov 9, 2012 9:02am
Quoting maximmm
I like this guy's analysis - it is based on candles and on support resistance lines. The problem with his analysis is that he doesn't look at trend lines quite as much - and given that his analysis is based on daily candles - he overlooks the weekly chart. Still - I do like his analyses overall.
Check it out.www(dot)youtube.com/user/FXEmpirecom/videos?view=0 (http://www.youtube.com/user/FXEmpirecom/videos?view=0)

He's not a scalper though.... so I'm not sure if it's of any use to you^^
The reason I am thinking to use candles only is to identify the waves.
daddybearforex. com
  • #12,524
  • Nov 9, 2012 9:03am Nov 9, 2012 9:03am
Quoting DaddyBear
The reason I am thinking to use candles only is to identify the waves.
I think they are called elevators^^
  • #12,525
  • Nov 9, 2012 9:09am Nov 9, 2012 9:09am
Quoting maximmm
I think they are called elevators^^
This is another way to look at the markets.
Attached Image
daddybearforex. com
  • #12,526
  • Nov 9, 2012 9:13am Nov 9, 2012 9:13am
Quoting DaddyBear
A test between 1.0406 and the Pivot is possible. IMO
This is coming soon. IMO
daddybearforex. com
  • #12,527
  • Nov 9, 2012 9:16am Nov 9, 2012 9:16am
Quoting maximmm
I like this guy's analysis - it is based on candles and on support resistance lines. The problem with his analysis is that he doesn't look at trend lines quite as much - and given that his analysis is based on daily candles - he overlooks the weekly chart. Still - I do like his analyses overall.
Check it out.www(dot)youtube.com/user/FXEmpirecom/videos?view=0 (http://www.youtube.com/user/FXEmpirecom/videos?view=0)

He's not a scalper though.... so I'm not sure if it's of any use to you - but it does provide some idea on how tech...
yes, such analysis are long term and have very high accuracy, mainly candlesticks patterns and behavior, or waves and fibo as guide, actually price actions is always one of the best, if u see price is going high but do not know if its going to go down, try using sell stops because as price is bullish and going up selling high will feel pressured by the existing trend, and when trend changes upon rejection, which can be identified by candlesticks sometimes, u can pick a sell stop for it to go down,though its selling lower but when that happen, u won't feel u are against the flow of trend.
, to catch the flow down upon after pin support area. Price action will overlapped, its a future kind of trading, i know a trader that only look at daily chart and weekly chart every day, and using 1-4 hours, he makes a few line, and place buy sell stops order and ignored them, and he's very very very very profitable. -> good thing is he's not trap in market action, and his position will only likely to be triggered because of trend in that direction.

in an intra-day basis, especially thursday and friday, i will use buy sell stops order at future price area, which is not within the current zone, if price can go there, it's likely to move that direction for some pips, use trailing stops, sometimes u may catch a big one.
  • #12,528
  • Nov 9, 2012 9:22am Nov 9, 2012 9:22am
Quoting DaddyBear
This is another way to look at the markets.
http://www.forexfactory.com/attachme...1&d=1352473759
A lot of Bulls are taking this elevator going to parking garage down below currently. IMO
daddybearforex. com
  • #12,529
  • Nov 9, 2012 9:27am Nov 9, 2012 9:27am
Quoting DaddyBear
http://www.forexfactory.com/attachme...1&d=1352473759
A lot of Bulls are taking this elevator going to parking garage down below currently. IMO
The elevator may still go up a few floors to take more Bulls before dropping to the basement. IMO
daddybearforex. com
  • #12,530
  • Nov 9, 2012 9:30am Nov 9, 2012 9:30am
Quoting DaddyBear
The elevator may still go up a few floors to take more Bulls before dropping to the basement. IMO
The elevator is packed with Bulls. I would wait until some smart Bulls leave and can squeeze in later.
daddybearforex. com
  • #12,531
  • Nov 9, 2012 9:34am Nov 9, 2012 9:34am
Quoting DaddyBear
The elevator is packed with Bulls. I would wait until some smart Bulls leave and can squeeze in later.
these bulls won't leave today..IMO
Sometimes it's better to be wrong,to learn..
  • #12,532
  • Nov 9, 2012 9:35am Nov 9, 2012 9:35am
Quoting DaddyBear
The elevator is packed with Bulls. I would wait until some smart Bulls leave and can squeeze in later.
The other way around is squeezing in with the Bulls now and push the bottom at the top.
daddybearforex. com
  • #12,533
  • Nov 9, 2012 9:35am Nov 9, 2012 9:35am
Quoting KiNgEdwarD
these bulls won't leave today..IMO
Are you sure? Why?
daddybearforex. com
  • #12,534
  • Nov 9, 2012 9:46am Nov 9, 2012 9:46am
I have been without power for 12 days. The Internet service won't be resumed until later today. I have learned one important thing in the trading, PATIENCE, during this hard time. So, not too bad.
daddybearforex. com
  • #12,535
  • Nov 9, 2012 10:51am Nov 9, 2012 10:51am
Quoting DaddyBear
A test between 1.0406 and the Pivot is possible. IMO
It's entering the testing zone.
daddybearforex. com
  • #12,536
  • Nov 9, 2012 11:11am Nov 9, 2012 11:11am
Quoting DaddyBear
It's entering the testing zone.
In the daily context, the Bulls are still not done yet. The Aussie may still move up after this short-term setback. IMO
daddybearforex. com
  • #12,537
  • Nov 9, 2012 11:12am Nov 9, 2012 11:12am
Quoting DaddyBear
It's entering the testing zone.
The question now is which level it is going to test and what next is.
daddybearforex. com
  • #12,538
  • Nov 9, 2012 11:15am Nov 9, 2012 11:15am
Quoting DaddyBear
The elevator may still go up a few floors to take more Bulls before dropping to the basement. IMO
http://www.forexfactory.com/attachme...1&d=1352473759

When is this elevator going to stop? I think it is going to unload some smart Bulls later. Most Bulls will be staying in the elevator over the weekend .......
daddybearforex. com
  • #12,539
  • Nov 9, 2012 11:18am Nov 9, 2012 11:18am
Quoting DaddyBear
http://www.forexfactory.com/attachme...1&d=1352473759

When is this elevator going to stop? I think it is going to unload some smart Bulls later. Most Bulls will be staying in the elevator over the weekend .......
The reason they stay because Chinese is going to release some "terrific' news this weekend. So the Bulls are hoping the elevator will shoot up to the penthouse on Sunday open.
daddybearforex. com
  • #12,540
  • Nov 9, 2012 11:19am Nov 9, 2012 11:19am
Quoting DaddyBear
The reason they stay because Chinese is going to release some "terrific' news this weekend. So the Bulls are hoping the elevator will shoot up to the penthouse on Sunday open.
Even they are right on the money later, I believe there is one more drop before everything is said and done. IMO
daddybearforex. com
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