The following is the hourly chart or USDCAD as of 12 AM, NOV23rd 2009. There are two trend lines I have drawn one below the chart and one above the chart. The chart crossed the resistance line earlier and now came back to the resistance line. Now the resistance line may act as the support line. Out of the three indicators, two indicators, CCI and Stochastics have reached the oversold region. I will wait for a strong bullish candlestick to form to enter the trade or I will wait for the CCI to cross above the -100 line and stochastics to cross above the 20 line. what do you guys say about this trade?

USDCAD possible trade:

The resistance line for the USDCAD currency pair may act as the support line now.

The following is the EURUSD hourly chart as of 11:30PM, Nov. 22nd. The CCI and Stochastic oscillator have both reached the overbought region. The graph is going in the two trends lines for some time. I would like to enter a short trade once the EURUSD hourly chart reaches the upper trend line. I will also look for any candlestick formations. What do you guys say?

EURUSD with in trend lines:

Above graph showing EURUSD with in trend lines. Waiting for the graph to reach the upper trend line.

The following is the GBPUSD hourly chart and it looks like the graph is bouncing back from the resistance line. The CCI (14) line is above the 100 line and the stochastic indicator is reaching the 80 line. I will wait for the bearish engulfing candlesticks formation and if it forms then I would like to enter the short (sell) trade.

GBPUSD reached the resistance line:

GBPUSD reached the resistance line and waiting for a bounce

The following is the USDCHF hourly graph. Now the time is 10:30 PM EST, Nov 22nd. If you observe the graph the hourly graph is moving between two trend lines. If you observe the indicators the CCI and Stochastic oscillator, both reached the oversold region. I would like to enter the trade when the USDCHF pair touches the trend line and moving back. I will also look for any favorable candlesticks formations.

What do you think of this?

USDCHF possible trade opprotunity:

CCI and Stochasticks already reached the oversold region and waiting for the graph to touch the trend line.

The following is the GBPCAD hourly chart. Right now the time is 10PM EST, Nov 22nd. I have drawn a trend line for this chart. The chart actually crossed the trend line. But the CCI indicator is in the oversold region. Stochastics also is near the oversold region. I think it will now retrace back as the current time is asian time zone. Generally I observed that in the asian timings the trends won’t continue. So I am thinking it will retrace back to the trend line, I would like to enter a short trade if the following conditions are fulfilled.

1) It retraces back and touches the trend line.

2) Any two the indicators reach the overbought region

3) Any candlestick formations like doji, engulfing candlesticks etc at the trned line.

What do you guys think about this trade?

GBPCAD support line is broken

I would like to enter the trade if the graph retraces back and touchesthe trend line,if twoof the indicators reach the overbought region and any favorable candlesticks are formed.

The following is the AUDCHF hourly graph. Right now the time is Nov. 22nd, 10 PM EST. There is a trend line drawn for this AUDCHF pair. The hourly graph is currently retracing back to the trend line. I am using bollinger bands also and the trend line is exactly at the upper bollinger bands. So there are two resistances. I am using three other indicators CCI (14), RSI (14) and stochastic oscillator (5, 3, 3). I would like to enter a short trade if the following conditions are fulfilled.

1) Any two of the indicators must reach the overbought regions

2) The graph should touch  the trend line

3) Any candlesticks like doji, bearish engulfing formations etc are formed.

What do you guys think of the trade? Will this be a successful trade?

audchf possible trade opportunity

AUDCHF – When the graph reaches the trend line and any of the twoindicators reach the overbought region  and any favourable candlesticksformations are there I would like to enter the trade