Shaven head in the GBP/USD daily chart.

[forexenator]

Shaven head in the GBP/USD daily chart, a bearish candle may follow tomorrow. Watch for the U.K. Economic calender release and get ready to go bearish.Check my weblog for a screenshot. http://forexenator.blogspot.com

[MilchCow]

Good blog. Will tune in. I am also bearish for GBP-USD for now...

[united46]

forexenator

Just reading your blog and wondered about your thoughts on a point. In your comment about euro and cable you mention candle patterns, tweezer top and shaven head. When I looked at my charts, these formations were not apparent, I then checked two other data sources, neither of which showed the formations.

Obviously, this is one problem in the forex market, no centralised exchange with firm prices.

My question therefore is, how much confidence do you have in your candle signals given this potential problem?

Thanks

United

[jezek5]

i just checked my 2 chart packages and i can not see the patern either,which chart package do you use?

[forexenator]

forexenator

Just reading your blog and wondered about your thoughts on a point. In your comment about euro and cable you mention candle patterns, tweezer top and shaven head. When I looked at my charts, these formations were not apparent, I then checked two other data sources, neither of which showed the formations.

Obviously, this is one problem in the forex market, no centralised exchange with firm prices.

My question therefore is, how much confidence do you have in your candle signals given this potential problem?

Thanks

United

I am using Metatrader 4 software and I think it is on +2 GMT timeframe, please check my blog now for the confirmation of the shaven head, i posted for you a screenshot http://forexenator.blogspot.com/2005...-chart_16.html

[forexenator]

i just checked my 2 chart packages and i can not see the patern either,which chart package do you use?

the pattern is obvious in any software using the +2 GMT time frame like Metaquotes software. May be it will be obvious too with softwares using +00 GMT timeframes, but certainly not with the +7 GMT time frame.

[rotex]

Hey forexenator, I seen you on another forum which I could not get image of chart for you to see...I seen by some replies here, that maybe a time frame issue could be involved...Once again, good blog and thanks... I'll try to get this image attached here...

[forexenator]

Hey forexenator, I seen you on another forum which I could not get image of chart for you to see...I seen by some replies here, that maybe a time frame issue could be involved...Once again, good blog and thanks... I'll try to get this image attached here...

Hi rotox, I got the screenshot now, I think this is the vtrader software, I am using metatrader software in my analysis, but as you can see it didn't differ a lot as in your timeframe the GBP/USD formed a tweezer to which is a sign of reversal as well.
I see that these patterns may be false sometimes when using softwares with +7 GMT time frame.
I hope I have been of help and please don't hesistate to ask any question.