[FrankC]

A big hammer is forming, plus a grave stone doji formed at 9am...the support is at 1.2480. I'll be looking to go long, but waiting for a bullish engulfing bar after the current hammer(as a confirmation) in the 30-min chart.

11:03 --- Well, it doesn't look like a hammer anymore! Better stay out for now, until its time...

[FrankC]

Here is my candlestick trading performance log for this month. 400 pips a month, that's my goal, also hope I can increase my %Win rate, and keep it above 70%.

[FrankC]

Bought 1.2465 SL 1.2442 TP 1.2485

A hammer resting on the support 1.2450, with stoc. crossed above 20 should be good for 20 pips.

[FrankC]

TP was hit at 1.2485 (+20)

[Brazilian_Nutter]

Your journal, seems very interesting Frank...keep it going...I'll check it out on the daily basis.
I've just started with Forex, and I've learned a lot from these posts.

Regards,

[FrankC]

Thanks Brazilian_Nutter. Keeping a trade journal has helped my Forex trading a great deal. I've started my first Trading Journal in MoneyTec, and decided to move to this forum since it is designed for candlestick traders like me. I highly recommend to anyone who doesn't have a trading journal to open one, either privately, or publicly. It is a must for serious traders.

[FrankC]

I think near 1.2530 area is good to sell with the target toward 1.2450 area...if not today, then certainly starting Sunday's openning.

I have circled the key events...the clue lies behind the key events. 1.2530 is the area that I anticipate where the next key events might occur

[FrankC]

I usually follow the daily chart of the US$ Index, just to get a feeling for a bullish/bearish sentiment of this very important index. The daily chart certainly looks bearish. After breaking the last support at 88 with a beraish engulfing bar, the next support now lies at 87.

[candlestick1]

Wowever the dollar chart did show a bullish harami on friday, with the stochastics just getting into the oversold area. If the dollar shows strength on the open monday, it may have bottomed at least for a few days.

[FrankC]

candlestick1,

So the pattern shown above(last circle) on Friday is a bullish harami?

[candlestick1]

Yes use the logic rationale that the first candle, an indecision day, then a third day moving through the opposite colored candle of two days prior will still reveal a symetrical signal that indicates a change in investor sentiment

[candlestick1]

Yes a harami says that the selling has stopped. This weeks free newsletter has the description of the harami signals

[FrankC]

Looks like we have a bullish harami for the usd/chf as well...not so sure though!

The first candle looks like an inverted hammer...does inverted hammer is as good as "an indecision day?" If so, then I'd buy 1.2450-70 area, target 1.2550 with stop-loss 1.2400-20 area.

This pair feels like an Oracle(ORCL)

Any daily close below 1.2450, no more Oracle

[candlestick1]

I do not see an inverted hammer, the last two days show a bearish candle followed by a harami, do not see the stochastics on this chart but would anticipate that this is in the oversold area

[FrankC]

Perhaps the first candle is a shooting star, but as you mentioned it is a bearish candle. In one of your article, if I may recall, you mentioned that seeing a shooting star near a support level, is a good indication of buying strategy near that support. Am I correct?

Yes, the stochastis is at 19(oversold area).

Regards,