Top or Bottom - how I read candles for the next session | Forex Factory

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Top or Bottom - how I read candles for the next session

  • #1
  • First Post: May 16, 2015 8:16am May 16, 2015 8:16am
Let s try to do this next days.
If skills could be acquired by watching, every dog would be a butcher. Turk
  • #2
  • May 16, 2015 9:04am May 16, 2015 9:04am
???
  • #3
  • May 17, 2015 9:37am May 17, 2015 9:37am
Quoting Zircon
Let s try to do this next days.
First of all we need to see some candles written on the books.
I selected the more shown formation on the top and bottom of any market.

Names are not important as its pictures..

you can see more in the internet search.

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All those simple formation are the most common picture indicates the end or the start of the market move.

BUT:
In the real figure of the market Top or Bottom we can see similar formation not exactly the same in the books.

For Examples:
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And so on...

What makes important is The SHADOW .
If skills could be acquired by watching, every dog would be a butcher. Turk
  • #4
  • May 18, 2015 5:15am May 18, 2015 5:15am
Quoting Zircon
{quote} First of all we need to see some candles written on the books. I selected the more shown formation on the top and bottom of any market. Names are not important as its pictures.. you can see more in the internet search. {image}{image}{image}{image}{image} All those simple formation are the most common picture indicates the end or the start of the market move. BUT: In the real figure of the market Top or Bottom we can see similar formation not exactly the same in the books. For Examples: {image}{image}1675738{image}{image} And so on... What...


ok.


Lets take the first picture.

The market surge up to the R1 resistance, followed by a doji formation marked by support S 4 and Res 2.
Now my focus is R2 and S4 I forget R1 why because R1 has been broken by R2.(Doji formation who S4 belonging to it).

Now our concern is R2 and S4.
Our focus now is the doji formation closed and waiting for the next session, before this formation open lets talk about the doji formation especially on the sentiment behind this formation.


See the shadow in S4and R2. Just take a look on it you will see the buyers a bit strong in this session, because of the length of the tail a bit long than the shadow near to R2. What does it mean, this is simple the bear cannot push the price lower even the black doji formation has a strong R2, but weak S4.

The next session opened near to the close of the doji.

If you are scalper switching to the low time frame and you have two levels to watch S4 and R2 during all the day.

In our case here the formation closed by the inverted hammer. We cannot enter a trade because S4 did not broken and R2 either.

In fact R2 and S4 have been changed toR3 and S5 consecutively.
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If skills could be acquired by watching, every dog would be a butcher. Turk
  • #5
  • May 19, 2015 12:07pm May 19, 2015 12:07pm
What happened to euro today?

daily chart
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One should be prepared to sell short from last day.

trend in H4 if you want adding.
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But bull weekly traders are not sure yet.
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It is smart to get out in each support and wait for new break.


One should see enough charts especially in top or bottom the turning point or the huge move is always due to high news, where the good money is made even on one trade.
If skills could be acquired by watching, every dog would be a butcher. Turk
  • #6
  • May 21, 2015 4:46am May 21, 2015 4:46am
Quoting Zircon
{quote} ok. Lets take the first picture. The market surge up to the R1 resistance, followed by a doji formation marked by support S 4 and Res 2. Now my focus is R2 and S4 I forget R1 why because R1 has been broken by R2.(Doji formation who S4 belonging to it). Now our concern is R2 and S4. Our focus now is the doji formation closed and waiting for the next session, before this formation open lets talk about the doji formation especially on the sentiment behind this formation. See the shadow in S4and R2. Just take a look on it you will see the buyers...
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S5 broken first,the market decided to go down given three black crow, the money is made with selling short and risk less.
If skills could be acquired by watching, every dog would be a butcher. Turk
  • #7
  • May 21, 2015 4:54am May 21, 2015 4:54am
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Fast scalpers like this consolidation in daily TF and playing in and out on small TF.
If skills could be acquired by watching, every dog would be a butcher. Turk
  • #8
  • May 25, 2015 3:43pm May 25, 2015 3:43pm
Nzdusd
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If skills could be acquired by watching, every dog would be a butcher. Turk
  • #9
  • Aug 28, 2015 3:28pm Aug 28, 2015 3:28pm
Quoting Zircon
Nzdusd{image}
strong sell off..
If skills could be acquired by watching, every dog would be a butcher. Turk
  • #10
  • Aug 28, 2015 3:34pm Aug 28, 2015 3:34pm
GBpjpy

support and upper resistance to be challenged first. bulls need time to change the power of selling.
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If skills could be acquired by watching, every dog would be a butcher. Turk
  • #11
  • Aug 28, 2015 3:39pm Aug 28, 2015 3:39pm
Quoting Zircon
GBpjpy support and upper resistance to be challenged first. bulls need time to change the power of selling. {image}
Weekly
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If skills could be acquired by watching, every dog would be a butcher. Turk
  • #12
  • Sep 9, 2016 4:42am Sep 9, 2016 4:42am
EURAUD
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If skills could be acquired by watching, every dog would be a butcher. Turk
  • #13
  • Sep 23, 2018 5:13pm Sep 23, 2018 5:13pm
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If skills could be acquired by watching, every dog would be a butcher. Turk
  • #14
  • Sep 28, 2018 5:35am Sep 28, 2018 5:35am
Quoting Zircon
{image}
1 high not taken r1
2 bearish engulf 1/2 2 days move
3 Closed the buying gap
4 step in selling rally
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If skills could be acquired by watching, every dog would be a butcher. Turk
  • #15
  • Last Post: Sep 28, 2018 5:37am Sep 28, 2018 5:37am
Pound$
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If skills could be acquired by watching, every dog would be a butcher. Turk
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