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Beyond the Candles

  • #1,521
  • Dec 2, 2013 10:52am Dec 2, 2013 10:52am
Quoting Dariusz
Would you consider this as W Reverse H&S ? {image}
In order to have a revearsal's confirmation you MUST have the pattern's confirmation....meanwhile at this moment the pattern is still forming !

Why NZDUSD is struggling...a clear reason to stay on my hands and wait !
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Nothing personal,just business
  • #1,522
  • Dec 2, 2013 11:56am Dec 2, 2013 11:56am
Sellers are defeated or they are waiting the price at R? Wait for confirmation!
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  • #1,523
  • Dec 3, 2013 4:45am Dec 3, 2013 4:45am
Quoting Redbullish
Sellers are defeated or they are waiting the price at R? Wait for confirmation! {image} {image}

In this situation, I suggest you to use the last S/R level.
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  • #1,524
  • Edited 2:24pm Dec 3, 2013 11:03am | Edited 2:24pm
You right, in this way the Monthly has already closed above, and we have the confirmation on daily
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  • #1,525
  • Dec 3, 2013 2:08pm Dec 3, 2013 2:08pm
USDCAD_D

I think we need still wait patiently as I see R level.
If price close above and make RET till SR. Now, price reacted at this level.

Attached Image
  • #1,526
  • Dec 3, 2013 6:50pm Dec 3, 2013 6:50pm
Quoting Dariusz
USDCAD_D I think we need still wait patiently as I see R level. If price close above and make RET till SR. Now, price reacted at this level. {image}
I want to teach you something.

At first, sorry for my bad English. I will try to tell you what I think, even if not always succeed. (I work with google translator)
When you have a S/R level now, it can be move in the future some pips up or down. Is it clear?
Which is wonderful in the market to repeat itself. If you determine a pattern, and again you'll see, you will found where the S/R level is.
On the picture, the first pattern was in 2010, and now repeated itself!
Allice in Wonderland
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  • #1,527
  • Dec 3, 2013 6:53pm Dec 3, 2013 6:53pm
And conclusions is, the price broke the previous level.
  • #1,528
  • Dec 4, 2013 10:37am Dec 4, 2013 10:37am
Yes, but the old R still remain an R level, right? And it may reject the price...i think you can do a safe entry if the 2 levels are quite far from each other, so you can manage the trade, but in this case the old R is very close to the entry level, it isn't too risky? You can do some more pip, but i think the safer entry in now:
(we see the old R is still valid because of the yesterday pin bar)
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  • #1,529
  • Dec 4, 2013 12:26pm Dec 4, 2013 12:26pm
Quoting Redbullish
Yes, but the old R still remain an R level, right? And it may reject the price...i think you can do a safe entry if the 2 levels are quite far from each other, so you can manage the trade, but in this case the old R is very close to the entry level, it isn't too risky? You can do some more pip, but i think the safer entry in now: (we see the old R is still valid because of the yesterday pin bar) {image}
That's what I was talkin about
  • #1,530
  • Dec 4, 2013 12:49pm Dec 4, 2013 12:49pm
Quoting fxgroup
AUDSGD M-PB bearish W-the P turned beack within the old RM D-the P retracements to the R of the old RM+ H&S with RT to the NL ( neck-line). The pattern's projection is in conflunce with the S level of the old RM as the final main TG ! {image} {image} {image}
Do you remember this post......as I said I posted BEFORE things happened.....look at W chart of quoted post and then look at it...today..very predictable..just reading the Price !
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Nothing personal,just business
  • #1,531
  • Dec 4, 2013 3:36pm Dec 4, 2013 3:36pm
USDCAD

I will wait until the price come back to 1.053. It is the valid support for me.
  • #1,532
  • Dec 5, 2013 6:21am Dec 5, 2013 6:21am
Great thread FxGroup. Thanks.

To the charts....

Monthly- BEOB. Sellers in take control of previous RM.

Weekly- Buyers try to defend RM support. Sellers are successful.

Daily- Hammer confirms sellers control. Price reaches first target.

Any comments, feedback, suggestions, questions, etc... is much appreciated.
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  • #1,533
  • Edited 2:22pm Dec 5, 2013 1:55pm | Edited 2:22pm
Hello, i totally agree with your analysis and i am entered in your same way, BEOB IPB on Oanda candles, 3 bar reversal on Dukascopy
I've found these 3 possible targets on monthly:
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  • #1,534
  • Dec 5, 2013 3:28pm Dec 5, 2013 3:28pm
Quoting selfthyknow
Great thread FxGroup. Thanks. To the charts.... Monthly- BEOB. Sellers in take control of previous RM. Weekly- Buyers try to defend RM support. Sellers are successful. Daily- Hammer confirms sellers control. Price reaches first target. Any comments, feedback, suggestions, questions, etc... is much appreciated. {image} {image} {image}
Hello Self..nice to have you here and welcome !

There are just a few thigs to say about it..your chart reading is acording to the main trend...the only thing I would like to point out is the bearish PA ..from a tecnical point of view is a BEOB not a hammer !
Please note how the RM's levels become very strong and crucial for trading decisions !
Nothing personal,just business
  • #1,535
  • Dec 7, 2013 3:43pm Dec 7, 2013 3:43pm
Why is this a BEOB instead of a hammer?

Range Market very strong for 4-5 months.
  • #1,536
  • Dec 8, 2013 7:48am Dec 8, 2013 7:48am
Quoting selfthyknow
Why is this a BEOB instead of a hammer? Range Market very strong for 4-5 months.
The bar before it is bullish and its min and max are inside the subsequent bearish bar. Even without the bullish bar, you'd have had a bearish IPB (Inverted Pin Bar): does RET on an important level, it's at swing high and its minimum goes beyond its previous bar minimum.
  • #1,537
  • Dec 8, 2013 4:27pm Dec 8, 2013 4:27pm
Quoting selfthyknow
Why is this a BEOB instead of a hammer? Range Market very strong for 4-5 months.

In order to have a BEOB the candle MUST have a bearish close and its low+high outside the high+low of the previous candle. Of course beeing a bearish PA candle its position must be at the R level !

From a personal pint of view I don't use terms as hammer/ shooting star...I rather prefer bullish / bearish PB...just a personal choise according to the simplicity !

The bearish PB must be at the R level meanwhile the bullish one must be at the S levvel !
We have some situation when a PB bearish could be a BEOB at the same time and a bullish PB could be a BUOB at the same time !
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Nothing personal,just business
  • #1,538
  • Dec 10, 2013 4:01am Dec 10, 2013 4:01am
GBPCHF....we had a clear sellers information..but here the selection criterias palay a very important role in picking up the best and safiest trades.
The P in RM with the BEOB at the R but at the same time the TL bullish is ovviously the great obstacle for the P to reach the S level. We notice also the 1.45 BRN as the ML (middle level) in RM so the best way to trade is waiting for the P to close bello the TL and 1.45 BRN+ RET+ seller's confirmation !
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Nothing personal,just business
  • #1,539
  • Edited 5:35am Dec 10, 2013 4:49am | Edited 5:35am
hello,
from my point of view there are 2 situations on this pair:
1 - P has reached the target trend line M with exhaustion buyers but criteria for selection of W we would never entrati.ATTEMPT INFORMATION!

2 - RM static because we have all the prerequisites:
after a direct inversion price is consolidating in RM also influenced by the TL M.
On M we had a 2MPB, then the WPG?
R of RM.
In this case you have to wait on the closing level of the median TL + ret and confirms a target for the level of R.
I apologize for writing
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  • #1,540
  • Dec 10, 2013 12:22pm Dec 10, 2013 12:22pm
I tried to understand why the sellers reacted in that way at that level:
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