Friday, May 30, 2008

Candlestick count post analysis

On the 13th of May i have made a prediction analysis on GBP-JPY (See the post here....) by using the common sense of candlestick counting. And at that time i was expecting the pair to make two white candles formation going up. Today we can see the results on monthly time frame 2 white candles have been formed exactly near the month almost ended.

This is one of the advantage if you are very familiar with the candlestick counting. Using that advantage you can figure out the direction of the market from the larger time frame perspective. See the chart before and after.

Before on the 13th of May 2008

candlestick countingAfter on the 29th of May

GBP-JPY chartNow that we have predicted GBP-JPY correctly let's prove this again by looking at EUR-USD. After two black candlestick downwards for two months we will expect the next candle to be white and going up for the next month of June until it ended. Let's see what happen next?

Chart on 30th of May 2008

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