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Cable Update (GBPUSD)

  • #386,161
  • Edited 11:06am Jul 9, 2014 10:35am | Edited 11:06am
Quoting hussin naiji
{quote}hi G this candle is a long legged doji . we know that this is a bearish reversal pattern with high reliability . in fact this is a confirmation for bearish hanging man (past days). attention: a bullish Hammer is a bullish reversal pattern with low reliability and Location of a hammer on the bottom no top. Hussin best regards
Thanks for your input. I see your point.

Here's how I see it...we had a two consecutive lower lows/lower highs and a false triangle break in an overall strong uptrend

which qualifies this as a LOCAL bottom and hence yesterday's candle can be considered a hammer

epecially if confirmed by today's candle.

In contrast jul 3rd's candle was indeed a hangman both at a local and overall top.

Might be wrong though.
Hear the music before the song is over ...
  • #386,162
  • Jul 9, 2014 10:41am Jul 9, 2014 10:41am
Quoting hussin naiji
{quote}hi G this candle is a long legged doji . we know that this is a bearish reversal pattern with high reliability . in fact this is a confirmation for bearish hanging man (past days). attention: a bullish Hammer is a bullish reversal pattern with low reliability and Location of a hammer on the bottom no top. Hussin best regards
we have to see the daily close. for final formation.
all in all the dargon fly doji should get your attention. coming off of an up trend this is a reasonably strong reversal signal. with confirmation this doji cab be very reliable. also called dragon fly, and also it is not at top.
don't predict direction, but dance with flow of water
  • #386,163
  • Jul 9, 2014 10:43am Jul 9, 2014 10:43am
Quoting hussin naiji
{quote}hi G this candle is a long legged doji . we know that this is a bearish reversal pattern with high reliability . in fact this is a confirmation for bearish hanging man (past days). attention: a bullish Hammer is a bullish reversal pattern with low reliability and Location of a hammer on the bottom no top. Hussin best regards
Very much technical information and right one, i was confused before i mean today about hammer or inverted hammer, thanks hussin
  • #386,164
  • Jul 9, 2014 10:44am Jul 9, 2014 10:44am
remember always use sl to get your enemy know where your weak point is hidding....whatever proooos
  • #386,165
  • Jul 9, 2014 10:47am Jul 9, 2014 10:47am
Quoting lolipop
remember always use sl to get your enemy know where your weak point is hidding....whatever proooos
  • #386,166
  • Jul 9, 2014 10:50am Jul 9, 2014 10:50am
Quoting hussin naiji
{quote}hi G this candle is a long legged doji . we know that this is a bearish reversal pattern with high reliability . in fact this is a confirmation for bearish hanging man (past days). attention: a bullish Hammer is a bullish reversal pattern with low reliability and Location of a hammer on the bottom no top. Hussin best regards
Quoting priceaction1
{quote} we have to see the daily close. for final formation. all in all the dargon fly doji should get your attention. coming off of an up trend this is a reasonably strong reversal signal. with confirmation this doji cab be very reliable. also called dragon fly, and also it is not at top.
Ghost Rider - WWTBMD?
  • #386,167
  • Edited 12:35pm Jul 9, 2014 10:50am | Edited 12:35pm
1.7119 or 1.7110 could be a chance to go for another long
  • #386,168
  • Jul 9, 2014 10:54am Jul 9, 2014 10:54am
Quoting albchr
{quote} {quote}
I play euro and cable at this little space.

http://www.forexfactory.com/showthre...08#post7592308.
don't predict direction, but dance with flow of water
  • #386,169
  • Jul 9, 2014 10:56am Jul 9, 2014 10:56am
Quoting priceaction1
{quote} we have to see the daily close. for final formation. all in all the dargon fly doji should get your attention. coming off of an up trend this is a reasonably strong reversal signal. with confirmation this doji cab be very reliable. also called dragon fly, and also it is not at top.
The Dragon fly pattern is formed when instrument's opening and closing prices are equal and occur at the high of the day, imho
  • #386,170
  • Jul 9, 2014 11:03am Jul 9, 2014 11:03am
Quoting priceaction1
{quote} I play euro and cable at this little space. http://www.forexfactory.com/showthre...08#post7592308.
I know. I watch. .....
Ghost Rider - WWTBMD?
  • #386,171
  • Jul 9, 2014 11:06am Jul 9, 2014 11:06am
Quoting thegmann
{quote} running pretty much identical trade except short at 1.71425 and S/L at 1.71510
closed out my short @ 1.7130 out till after FOMC move now.
  • #386,172
  • Jul 9, 2014 11:09am Jul 9, 2014 11:09am
Quoting Dr.Zain
{quote} The Dragon fly pattern is formed when instrument's opening and closing prices are equal and occur at the high of the day, imho
in fact, equal open-close is prerequisite to any doji.
Hear the music before the song is over ...
  • #386,173
  • Jul 9, 2014 11:09am Jul 9, 2014 11:09am
Quoting elbert3
{quote} {image} lets see the day,, large doji Small doji, dragonfly doji,,(no hammer ) and the bottom of the blue doji looking like resistance to the up for now so break the 10 and target 20 ema.. that only my opinion ,,somethings bound to f,,,k it up,lol
well i never ???? lol news can fu....the whole thing up..going out locked in free trade for now commission payed tp 706 gl,,all back 30 mins for the money,,lol
  • #386,174
  • Jul 9, 2014 11:12am Jul 9, 2014 11:12am
Good day,

Do not want to bore the thread - but have to bounce ideas and put view out. Not that it is important to anyone - but good to discuss, I think. The GU daily has potential to beat the RED nett buyers candle. But in my opinion - anything above that candle high could be seen as a bull trap in the current scenario. So will not matter to me how much we pass 1.7160-1.7170 area - we have a high probability to come back past.

As I'm learning to interpret the chart info - I am suggesting that EU is pulling back only - as part of the larger recent downtrend. How far back - I cannot tell - but the recent low may be the first target for me.

If the post holds true - it would serve as great encouragement. Please to not take any of these ideas to heart. I'm just posting some thoughts on what I see as my trade plan.

Take care
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: eurusddaily.png Size: 78 KB
  • #386,175
  • Jul 9, 2014 11:29am Jul 9, 2014 11:29am
Quoting TauTrader
Good day, Do not want to bore the thread - but have to bounce ideas and put view out. Not that it is important to anyone - but good to discuss, I think. The GU daily has potential to beat the RED nett buyers candle. But in my opinion - anything above that candle high could be seen as a bull trap in the current scenario. So will not matter to me how much we pass 1.7160-1.7170 area - we have a high probability to come back past. As I'm learning to interpret the chart info - I am suggesting that EU is pulling back only - as part of the larger recent...
im fairly new to trading but have been watching both EUR/USD and GBP/USD for few months and I agree with you that the Euro is going to pop probably to around 1.3660 area and then drop. I set my short at 1.3660 s/l at 1.3670 and tp at 1.3640. As for the cable im sensing a reversal and a downward move after a bump up as well but ive learned to not trust the cable...so im waiting for confirmation on this one before setting any trades.
  • #386,176
  • Jul 9, 2014 11:39am Jul 9, 2014 11:39am
Quoting Dr.Zain
{quote} The Dragon fly pattern is formed when instrument's opening and closing prices are equal and occur at the high of the day, imho
yes it is basic i.e doji has open and close price at same level. that's why i say we have to see the daily close.
don't predict direction, but dance with flow of water
  • #386,177
  • Jul 9, 2014 11:49am Jul 9, 2014 11:49am
Quoting thegmann
{quote} im fairly new to trading but have been watching both EUR/USD and GBP/USD for few months and I agree with you that the Euro is going to pop probably to around 1.3660 area and then drop. I set my short at 1.3660 s/l at 1.3670 and tp at 1.3640. As for the cable im sensing a reversal and a downward move after a bump up as well but ive learned to not trust the cable...so im waiting for confirmation on this one before setting any trades.
I wish you good fortune in your trading career.

All success!
  • #386,178
  • Jul 9, 2014 12:04pm Jul 9, 2014 12:04pm
Quoting TauTrader
{quote} I wish you good fortune in your trading career. All success!
Thanks! got my popcorn ready just waiting for the fireworks at 2
  • #386,179
  • Jul 9, 2014 12:15pm Jul 9, 2014 12:15pm
Looks like that the Speech that Draghi is going to deliver is not that important. It would be nice if we stop giving high impact to events that will have no impact at all :
Attached Image (click to enlarge)
Click to Enlarge Name: aaa.png Size: 19 KB
  • #386,180
  • Jul 9, 2014 12:52pm Jul 9, 2014 12:52pm
Trade confirmation
On 09-Jul-2014 at 17:47:35 (GMT)
You sold 10 GBPUSD @ 1.71210 for value date 11-Jul-2014
Front office position id: 139990883
Account: 5589929


NO PAIN NO GAIN. SL 25 ON ALL 3 TRADES
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