This is a prime example on what I mean by giving me a bearish/bullish bias through candlesticks. As you can see in the USDCAD forum, I'm pretty bearish the USDCAD through short-term trade. The pair has posted a shooting man formation at the confluence of a significant 61.8% Fibonacci retracement line and a falling trendline. Combined with bearish SSI numbers, my system gives me fairly clear signal to be bearish the pair.

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Hi it has been very helpful

A little digging has turned up that this is in fact called an "Inverted hammer", and is considered bullish.

hi my good friend ,whether this candle is similar opposite of a shooting star ?agree you with me? i speake with evidence no conjecture.better

is use from office excel for candle analysis.have a good time 4 u

again look to post no 49 nzdusd was 0.7641 but i saw that shooting star collapsed by double doji star ,this pattern isnot in not book still 50 p up other remaining

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about your post no 61 this shooting star has appearred after 1000 p up and have very power for down but you think still need a little patience for an confirmation because the next candle is similar an doji that show to us suspicion market for down.we need an candel red with upper wick long that close below 1.0050 of course today BOC gorernor dodge speaks but i saw dodge second time himself hand hit to himself nose that confidentially tell to us usdcad is sell next week !!

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Any thoughts on yesterday's GBPUSD daily candle? Spinning top? Hanging man? Regardless, it looks a bit like a signal of reversal in trend from 2.02. However, I wouldn't dare go long ahead of NFPs...I'm just cautious like that.

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hi all basis for resting an hanging man must in top uptrend no in bottom downtrend therefore this is not candle hanging man

this hammer have very power for 250 p up audnzd is up up up

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hi all with an look to eurusd , we see an hammer daily that stop before bearish candle that this bearish candle with body long and upper wick small and lower wick small said to us that im down but this hammer very have endurance till in the end succeed for return to up .even lower wick long tell to us that im up 120 p

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I read this post with a big smile. Are you suggesting that Governor Dodge hitting his nose gave a signal to the financial world to short usd/cad.
Do you think he may also be part of the illuminati????

Good post

hi i see that we are speaking and discussion about fibo or candle or wave or trendline ...... i think need to an recreation bell or crack jokes

Don't forget that we should wait until the bar closes before identifying the candlestick formation. We would ideally see the AUDNZD finish near intraday highs of 1.1318 to really complete the hammer formation.

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On a similarly NZD-bearish note, the NZDUSD is showing potential of a shooting star on a failure at a falling trendline.

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david we see audnzd weekly chart that is falling even is below 61.8 fibo that confirmation for sell audnzd.that is right .but careful candle analysis that i named (get ahead of trend)must look daily chart ,we see that previous candle hammer is an candle very simple, attention to open this candle and close previous candle that is similar and then this candle was up 80 p ,attention that this candle have not lower wick .after we see an hammer that have lower wick long that is equal 7 itself body .david .this hammer confirmation for up ,attention hammer pattern is an pattern that is alone and is not including two candle .we must see that audnzd will go up to 1.1580

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