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Cable Update (GBPUSD)

  • #408,841
  • Feb 17, 2015 5:59am Feb 17, 2015 5:59am
Quoting Bones
your incorrect 1 candle =confirm {quote}
ooops not really wrong. its 2 candles to form (an opposing color entering the body of the previous) http://stockcharts.com/school/doku.p...ercing_pattern though 3rd one would confirm the pattern as done.

Read it in Steve Nison book of candlestick patterns which is supposedly one of the best
Also this is mentioned in http://www.investopedia.com/terms/d/darkcloud.asp so yea you need 3 candles minimum. 2 is no guarantee it is a successful pattern which is why I mentioned we need 3, like Nison does too

ps: You are right that they are strong reversal signals though, if they are confirmed.
  • #408,842
  • Feb 17, 2015 6:02am Feb 17, 2015 6:02am
doji in 1h chart? what's next?

sorry spinning top ))) not doji
  • #408,843
  • Feb 17, 2015 6:08am Feb 17, 2015 6:08am
Quoting danndc
doji in 1h chart? what's next?
would you say it is on a s/r line ?? then still dont jump in,, one can, sl 5 pips over the top maybe,, like to see it close below 80
  • #408,844
  • Feb 17, 2015 6:09am Feb 17, 2015 6:09am
yes 2 candle create ,then one confirm ,but heres the thing piercing line is 2 candle ,which is high probability anyway

Quoting MaryAnne
{quote} ooops not really wrong. its 2 candles to form (an opposing color entering the body of the previous) http://stockcharts.com/school/doku.p...ercing_pattern though 3rd one would confirm the pattern as done. Read it in Steve Nison book of candlestick patterns which is supposedly one of the best Also this is mentioned in http://www.investopedia.com/terms/d/darkcloud.asp
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #408,845
  • Feb 17, 2015 6:14am Feb 17, 2015 6:14am
more power to pattern because 1st one so bullish

Quoting Bones
yes 2 candle create ,then one confirm ,but heres the thing piercing line is 2 candle ,which is high probability anyway {quote}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #408,846
  • Feb 17, 2015 6:16am Feb 17, 2015 6:16am
Quoting Bones
more power to pattern because 1st one so bullish {quote}
If the month closes around this price or higher, i'd be inclined to agree.


Quoting Bones
yes 2 candle create ,then one confirm ,but heres the thing piercing line is 2 candle ,which is high probability anyway {quote}
Yea, though we have to wait for the candle close of this month first else it may not be a piercing line formed yet. Still have, lets see 11 more days to go lol. And the higher the close, the better the chances for bulls...
  • #408,847
  • Feb 17, 2015 6:17am Feb 17, 2015 6:17am
Quoting danndc
doji in 1h chart? what's next? sorry spinning top ))) not doji
were is it going to go .
  • #408,848
  • Feb 17, 2015 6:24am Feb 17, 2015 6:24am
Attached Image (click to enlarge)
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have to draw a tl to that one ,,going into a squuuuueeeezzzz i think consolidation, it so scalp mode
  • #408,849
  • Feb 17, 2015 6:27am Feb 17, 2015 6:27am
Quoting Bones
yes 2 candle create ,then one confirm ,but heres the thing piercing line is 2 candle ,which is high probability anyway {quote}
finally lol ..
  • #408,850
  • Feb 17, 2015 6:29am Feb 17, 2015 6:29am
Quoting Ck87
{quote} A lot of the better traders only look at the market at the close and make decisions then.
it seems logicial in away ..always good to know .. and for me it does seem to work ..
  • #408,851
  • Feb 17, 2015 6:30am Feb 17, 2015 6:30am
Quoting Bones
more power to pattern because 1st one so bullish {quote}
Hey, its so bullish despite election coming up in May? What do you think?
  • #408,852
  • Feb 17, 2015 6:30am Feb 17, 2015 6:30am
Quoting Spudforex
{quote} finally lol ..
5312 /5269,,if then long but if it is squeeze time lower 5370,,5345,5305..what say you ,
  • #408,853
  • Feb 17, 2015 6:33am Feb 17, 2015 6:33am
cable dosent have d1 at the mo ,
Attached Image (click to enlarge)
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #408,854
  • Feb 17, 2015 6:34am Feb 17, 2015 6:34am
1.5300 seems min.
Intraday only.
  • #408,855
  • Feb 17, 2015 6:38am Feb 17, 2015 6:38am
Quoting navk
1.5300 seems min.
hi Navk , in from the 61% ex off the pin at 93, ,,possible targets long and short
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  • #408,856
  • Feb 17, 2015 6:43am Feb 17, 2015 6:43am
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crucial here for eur,, fail this lot then 1.06 i would say
  • #408,857
  • Feb 17, 2015 6:46am Feb 17, 2015 6:46am
Quoting elbert3
{quote} hi Navk , in from the 61% ex off the pin at 93, ,,possible targets long and short{image}
Failure at 1.5400 makes target below previous low if not a triangle pattern to go bullish.
Intraday only.
  • #408,858
  • Feb 17, 2015 6:46am Feb 17, 2015 6:46am
1.535 is important level imho, whether to go north or south
  • #408,859
  • Feb 17, 2015 6:49am Feb 17, 2015 6:49am
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  • #408,860
  • Feb 17, 2015 6:59am Feb 17, 2015 6:59am
watch area 5332 tp for me is there if it hold ,
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