The following is the USDJPY trade I entered using the alligator and candlesticks technique. There are no strong support or trend lines below the candlesticks. The chart reatraced back enough and a very nice bearish engulfing candlesticks are formed. I entered the sell trade with a stop loss of 15 pips above the candlesticks. Put the take profit at the bottom where there is a support line. I am waiting for the trade to reach the take profit. I will post the results of the trade in the comments section wheter the trade is lost or won. Check it out in a few hours.

USDJPY alligator and candlesticks trade:

USDJPY sell trade entered and waiting to reach the take profit

The following is the GBPUSD trade I took today using alligator and candlesticks technique and earned around 60 pips. As shown in the picture below I entered the trade before closing the bearish candlestick line. The hourly candlestick lines close at the end of each hour. I entered the sell trade just before the close of the bar which is around 1 minute before the close of the hour. So I could enter the trade in the middle of the bearish candlestick bar. After that minute a full bearish engulfing candlesticks are formed.

Before entering the trade I checked if there are any strong support lines below the candlesticks. There are no strong support lines or trend lines. Because some of my previous trades I took earlier using this technique were failed becuase there were some strong support or resistance lines formed already. You can check one of my posts at http://www.forexbees.com/forex-blogs/some-trades-i-lost. This post explains how I lost the trades eventhough there were very good bearish or bullish engulfing candlesticks formed becuase of the strong support or resistance lines. I put a stop loss of 15 pips above the candlesticks and I went to work. After that I came in the evening and observed the trade. There were some retracements in the middle. When I come back from work it is the asian trading time zone. The trade reached the support line. From my previous trades I observed that in asian trading time zones the trends won’t continue generally. Most of the times it will be parallel of the trends will reverse as the markets reach the overbought or oversold regions. So I closed the trade at this point. I got a profit of around 60 pips. Check the following pictures.

GBPUSD Hourly Chart:

GBPUSD trade won. Closed the trade as it reached the support line and moreover it is asian trading zone.

Profit:

gbpusd trade