Beyond the Candles

Quoting Beertje

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{quote} Yes, you have right ,but not on forex. Normal the close of the last candle is the open of the new candle on the forex market. After the weekend, when you see a small gap between the close and the open like in this situation, forget it! In my world this is an engulfing pattern. Pict1 is a bearish engulfing on other market Pict2 is a bullish engulfing on forex, close and open are the same (and what i said, forget the little gaps.) {image} {image}

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Quoting Beertje

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EURNZD. On the M chart can you see where the price close below/abow 1.7095 (1.7 BRN!) On the weekly 1.6420 is the support of the range. {image} {image} {image}

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Quoting fxdonchris

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Hi fxgroup I want to thank you for starting this wonderful thread. I'm learning a lot here. You are great man Chris

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Quoting fxdonchris

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Hi I would want you to pls criticise my S/R levels on the chart below. Thanks {image}

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Quoting fxgroup

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This is what we are learning in this thread..the simplicity ! AUDNZD W chart: 1-IPB =the first bullish information 2-bullish candle that closes within the old RM & above the old S...from now on we are waiting for buyers confirmation at the S level 3-PB=the sellers are defending the S level and are looking for the RET on it 4-RET on old S.....let's see the D chart AUDNZD D chart: after the buyers closes above the level the sellers did RET on it and the PB bullish as buyers's confirmation ! Notice how the 2 different concepts worked together:information+confirmation...

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Quoting fxgroup

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The beauty of PA....same concepts even on stock market: PCCC the P is in RM with the PB at the S level ( the RM's S is M level also)..we con notice how the P react every single time when close above/below the middle level ( ML ) of the RM doing a RET in order to reach the RM's S/R....now all we have to do is waiting a bearish SW as RET and buyers confirmation at the ML with the R as the main TG ! {image}

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