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Help Me Establish The GbpUsd After Dinner Club 40 replies

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  • #6,321
  • Aug 31, 2013 5:08am Aug 31, 2013 5:08am
why after getting hammer the price went down? doesn't make sense. i went long after seing the hammers!
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  • #6,322
  • Aug 31, 2013 5:15am Aug 31, 2013 5:15am
Quoting gsbharaj
why after getting hammer the price went down? doesn't make sense. i went long after seing the hammers! {image}
A hammer has no wick on the head, so what you saw was not a (inverted) hammer.

This is an inverted hammer. See? No wick at the bottom (head)
Attached Image


...and even if it was a hammer, candlestick patterns are not laws of the universe. They only have a certain percentage success rate. I think the hammer is around 60%
Those who say it cannot be done should not interrupt those who are doing it
  • #6,323
  • Aug 31, 2013 5:18am Aug 31, 2013 5:18am
Currency Positioning and Technical Analysis: Brief Note Ahead of Big Week

http://www.marctomarket.com/2013/08/...c+to+Market%29
Those who say it cannot be done should not interrupt those who are doing it
  • #6,324
  • Aug 31, 2013 6:31am Aug 31, 2013 6:31am
Quoting PipTrapper
Market positioning EUR/USD: Sellers 1.3260 1.3280 1.3300 1.3310 1.3330 1.3350 1.3380 1.3400 1.3410 1.3420 Buyers 1.3210 1.3200 1.3185 1.3160 1.3150 1.3130 GBP/USD: Sellers 1.5530 1.5540 1.5550 1.5570 1.5590 1.5600 1.5610 1.5620 1.5650 Buyers 1.5490 1.5480 1.5465 1.5450 1.5425 1.5400 USD/JPY: Sellers 98.25 98.40 98.50 98.80 99.00 99.15 99.30 99.50 Buyers 97.85 97.65 97.50 97.25 97.00 96.50 AUD/USD: Sellers 0.8965 0.8980 0.8990 0.9000 0.9010 0.9020 0.9050 Buyers 0.8900 0.8890 0.8880 0.8865 0.8850 0.8830 0.8800

Useful information..
  • #6,325
  • Aug 31, 2013 6:44am Aug 31, 2013 6:44am
Quoting PipTrapper
{quote} A hammer has no wick on the head, so what you saw was not a (inverted) hammer. This is an inverted hammer. See? No wick at the bottom (head) {image} ...and even if it was a hammer, candlestick patterns are not laws of the universe. They only have a certain percentage success rate. I think the hammer is around 60%
sir i am talking aboout the bluish shaded candlestick.
Attached Image
Come tomorrow, I'll wake up new
  • #6,326
  • Aug 31, 2013 7:03am Aug 31, 2013 7:03am
Quoting gsbharaj
{quote} sir i am talking aboout the bluish shaded candlestick. {image}
What pair is this and what TF?
  • #6,327
  • Aug 31, 2013 7:11am Aug 31, 2013 7:11am
Quoting morob
{quote} What pair is this and what TF?
nzd/usd
Come tomorrow, I'll wake up new
  • #6,328
  • Aug 31, 2013 7:54am Aug 31, 2013 7:54am
Quoting gsbharaj
why after getting hammer the price went down? doesn't make sense. i went long after seing the hammers! {image}
You got warning from candle in red circle as it reject upward move,
you should re-consider your bullish view after next candles following candle in red circle move downward and never close above closing price of candle in red circle..
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  • #6,329
  • Aug 31, 2013 8:05am Aug 31, 2013 8:05am
Quoting gsbharaj
{quote} sir i am talking aboout the bluish shaded candlestick. {image}
Ahh. My mistake. Sorry. Well, it did go up after that, but unfortunately was not sustained as evidenced by the spinning top candlestick two candles later with a breach of the low of the spinning top on the next candle. That is where I would have exited the trade had I been long from the hammer.
Those who say it cannot be done should not interrupt those who are doing it
  • #6,330
  • Aug 31, 2013 8:07am Aug 31, 2013 8:07am
Quoting andexQ
{quote} You got warning from candle in red circle as it reject upward move, you should re-consider your bullish view after next candles following candle in red circle move downward and never close above closing price of candle in red circle.. {image}
Sorry I didn't see your post before I responded. Well at least I know you see it the same way.
Those who say it cannot be done should not interrupt those who are doing it
  • #6,331
  • Aug 31, 2013 8:14am Aug 31, 2013 8:14am
US Marine Ship Approaches Syria; Russia Blasts Any "Acts Of Aggression" - Full Syrian Update

Zerohedge >>> http://www.zerohedge.com/news/2013-0...-syrian-update
Those who say it cannot be done should not interrupt those who are doing it
  • #6,332
  • Aug 31, 2013 8:49am Aug 31, 2013 8:49am
thank you andrax and piptrapper for clearing the air

happy pipping
Come tomorrow, I'll wake up new
  • #6,333
  • Aug 31, 2013 9:01am Aug 31, 2013 9:01am
Quoting gsbharaj
thank you andrax and piptrapper for clearing the air happy pipping
Thanks and same to you.
Those who say it cannot be done should not interrupt those who are doing it
  • #6,334
  • Aug 31, 2013 10:28am Aug 31, 2013 10:28am
Quoting gsbharaj
{quote} nzd/usd

Also, take a look at daily, weekly, and monthly. Very ugly imo.

It looks like it is targeting 75 and then 71.
Attached Image (click to enlarge)
Click to Enlarge Name: nzdusdmonthly831.jpg Size: 174 KB
The world you desire can be won. It exists.. it is real.. it is possible..
  • #6,335
  • Aug 31, 2013 10:57am Aug 31, 2013 10:57am
Quoting phoebus
{quote} i have similar view about aussie, {image}
http://www.forexfactory.com/showthre...14#post6931314
  • #6,336
  • Aug 31, 2013 11:39am Aug 31, 2013 11:39am
regarding the matter of Syria, I would expect the market does what it needs to do. In the DXY chart below, the past wars had quite different (and minimal) effect on the dollar. This time regarding Syria, I do not expect something very different.

Attached Image (click to enlarge)
Click to Enlarge Name: DXY-wars2.jpg Size: 64 KB
  • #6,337
  • Aug 31, 2013 8:12pm Aug 31, 2013 8:12pm
Weekly forex analysis

Inserted Video
  • #6,338
  • Aug 31, 2013 9:08pm Aug 31, 2013 9:08pm
Quoting gsbharaj
thank you andrax and piptrapper for clearing the air happy pipping
You're welcome,
I hope it help and happy pipping too.
  • #6,339
  • Aug 31, 2013 10:37pm Aug 31, 2013 10:37pm
Quoting phoebus
{quote} http://www.forexfactory.com/showthre...14#post6931314
Quoting phoebus
aussie COT chart. The commercial net position has plateaued for a while at 100k that is historical max level. Expect commercials to close some of their open long positions soon, aussie would then bounce hard because large specs would also close their short positions. {image}
Agreed, but I would not discount further downside yet. Let's see how the elections go. Might get a bounce. However, I expect further USD strength and the RBA still has some rate cutting to do. We might also get a nice bounce this week if the China PMI comes in stronger than expected.
Those who say it cannot be done should not interrupt those who are doing it
  • #6,340
  • Aug 31, 2013 10:48pm Aug 31, 2013 10:48pm
Quoting PipTrapper
{quote} {quote} Agreed, but I would not discount further downside yet. Let's see how the elections go. Might get a bounce. However, I expect further USD strength and the RBA still has some rate cutting to do. We might also get a nice bounce this week if the China PMI comes in stronger than expected.
http://www.forexfactory.com/showthre...97#post6932097
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