Fx-Technique » Candlesticks Technique

USDJPY: Candles Hint Gains Ahead

cymoo — Tue, 25 Jan 2011 05:59:37 +0000

Strategy: Pending Long

We have maintained a bullish USDJPY bias since prices broke out of a falling channel established in early 2010. While a rally has failed to materialize so far, with prices edging sideways in choppy consolidation, a well-defined Bullish Engulfing candlestick pattern hints that an advance may finally begin to gain momentum. Positioning remains indecisive however and we will look for confirmation on a break above the recent range top in the 84.00-85.00 region before entering long.

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cymoo — Fri, 14 Jan 2011 20:06:51 +0000

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Harami Cross

cymoo — Tue, 15 Jun 2010 06:16:54 +0000

Harami Cross is a moderately reliable candlestick pattern which indicate the reversal of existing trend. Harami Crossresembles harami, the only difference is that in Harami Crossthe second day candlestick is a doji. The doji candlestick is completely lies inside the real-body of first day candlestick. Bearish Harami Cross formation occurs at the top of an uptrend and indicate the beginning of a downtrend. This formation includes a long bullish candle on first day followed by a doji on second day.

BuyBer.com

Bullish Harami

cymoo — Sun, 30 May 2010 15:41:00 +0000

A candlestick chart pattern in which a large candlestick is followed by a smaller candlestick whose body is located within the vertical range of the larger body. In terms of candlestick colors, the Bullish Harami is a downtrend of negative-colored candlesticks engulfing a small positive candlestick, giving a sign of a reversal of the downward trend. A long 1st day with high volume in the existing downtrend brings complacency to the bears. The next day trades in a small range within the previous day’s real body. Light volume on the 2nd day should give rise to concern by the bears of an impending change of trend. Look for higher prices over the coming days, especially if the next day provides confirmation of a trend change by closing higher.

BuyBer.com

MetaTrader Candlestick Pattern Recognizer

cymoo — Tue, 25 May 2010 17:12:43 +0000

Falling Three Methods – Bearish Pattern

The Falling Three Methods Pattern is a continuation pattern, which shows a temporary break in the trend of prices without causing a reversal. The pattern is characterized by a long black candlestick during a downtrend, which is then followed by small consecutive small bodies that look like a short uptrend. It is better if all the bodies of these three days are white however they can also be of mixed color. These small bodies however must all remain within the high-low range of the first day’s black candlestick. The pattern is completed by a long black candlestick, closing at a new low and showing that bears are finally taking over. The small uptrend between two long black days simply shows a market break. After this temporary break, the downward trend continues.

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