Trading/stock markets/forex markets etc :)

[Ghorzang]

ghorzang wrora i would defiantly buy if i were you, i think it is on the rise

I bought around 6200 shares @ .315

The hammer that you have pointed has a small box with a long line stretching downwards. The next one has a similar size box but a much smaller line. After that there is a much bigger box with the same size line as the one before that. Then it changes to a blue (colored) box.

What exactly is going on? And what are you pointing with the red and green horizontal lines?

Thanks peera

[Ghorzang]

and what do you mean by predit resulsts? as in how do i no how much it will rise or go down ?

yes, how do you know how much it will go up?

[Ghorzang]

http://upload.wikimedia.org/wikipedia/commons/thumb


So the colored one means that the price fell down as it started at a higher price while the empty box means that the price went up, because it started at a lower price?

[sahil112]

I bought around 6200 shares @ .315

The hammer that you have pointed has a small box with a long line stretching downwards. The next one has a similar size box but a much smaller line. After that there is a much bigger box with the same size line as the one before that. Then it changes to a blue (colored) box.

What exactly is going on? And what are you pointing with the red and green horizontal lines?

Thanks peera

ok the ideal way a hammer should look is that the shadow should be 2-2.5 times the size of the body and that hammer we got was a very strong hammer. the next 2 candels after that are no signals but just mere price action. white means its going up, blue means going down in this color range.
for my trading terminal i change them to green and red because it just suits the action better lol

as you can see after the hammer price went up for a bit until it met slight previous resistence and then started dorpping back down but that alwys happens becouse it alwys wants to check support and re-test it. it did that as you could see price went below the hammer support but DID NOT close so it means support held it all 2geda

the green line means support as in price will drop to here but it will be hard for it to break under, but if it did then it would mean a bearish breakout and the price will be going down rapidly. as we can see it went under support but went back up so did not close under it which means bulls are still in power.

red line is resistence so price will go upto thier and then it will face resistence to try and break out of that line. it may fall back or if it breaks over it then bullish break out. again resistence is based on past price action becouse as you can see price went upto thier but cudnt go furhtur up and came back down so thats where it will meet resistence again.

[sahil112]

yes, how do you know how much it will go up?

i base it on the risk-reward ratio of a trade and resistance and support lines.

[sahil112]

http://upload.wikimedia.org/wikipedia/commons/thumb


So the colored one means that the price fell down as it started at a higher price while the empty box means that the price went up, because it started at a lower price?

no your reading it wrong wrora. the black one here stands for price going down and the price started at the open and then went down and closed. the shadows(lines) show what happened in that time frame like it made a new high but couldnt hold it so it dropped down and made a new low but couldnt hold it so went back up a bit and close but closed on a down.

the white 1 means going up here and pretty much the same as the red action.
with candels most the time the body is extremly important but with some signals the shadows are also just as important and you have to look at each candel as an individual. but some signals you will have to look at 2-3 candels all 2geda.

hope this has been of help

[sahil112]

check previous page as their are 2 posts on there

[Ghorzang]

no your reading it wrong wrora. the black one here stands for price going down and the price started at the open and then went down and closed. the shadows(lines) show what happened in that time frame like it made a new high but couldnt hold it so it dropped down and made a new low but couldnt hold it so went back up a bit and close but closed on a down.

the white 1 means going up here and pretty much the same as the red action.
with candels most the time the body is extremly important but with some signals the shadows are also just as important and you have to look at each candel as an individual. but some signals you will have to look at 2-3 candels all 2geda.

hope this has been of help

Makes sense. Now I understand how the candlesticks work.. Next step is to analyze these candle sticks and put the information to use.

[sahil112]

So do you need to create a forex account first? Anyone help

no unless you want to lose money very fast lol

first step is learning

[kakargirl]

very professional thread sahil he will get back to you he's been very ill at the moment.

[sahil112]

jasmine khor there are many ways to learn :

read books that teach you
do a course (expensive option)
read analysis i post on here

thats just a point where you can start from, it will need time and dedication

[sahil112]

and kakargirl thank you and yh feeling bit better todai marshallah so

[sahil112]

very first step would be to find out which market you would like to enter into, i mean are you long-term or short term? how much finance have you got to start of with? are you looking for high leverage or low?

[sahil112]

um still ill sorry so cant give you detailed explantion todai but we are looking at the day chart and as you can see the previous 4 days we had hit a support line and for 4 days straight it tried to break thru but all we got was shadows. from the first shadow we can say that the market has been neutralized and that the bearish trend has lost power and we are back into neutral and then the next 3 days it was a fight between bears and bulls for direction and the bulls won over and as you can see today we have gone up 165 pips very remarkable and reasons bulls won over was 1. we hit support cudnt break and 2. because of us stocks trading this morning but that is complicated and i will be getting into later on how to analyse the news alongside technical analysis. now if the bull run breaks above the 1.341 mark then i will be in buy postions until 1.38 roughly

[sahil112]

just hit 200 pips!!! damn i should of traded big todai -_-