USDCHF currency pair is in downtrend for a long long time. It formed a descendent triangle recently in the daily chart and now it’s broken with a strong bearish candlestick. Generally if a descendent triangle is broken in the downword trend, the trend will follow for some time. So I have entered a short trade for this currency pair. But I have to wait for a long time. Actually what I did was I have entered two short trades. One I will close it with little profit and then I will move the stop loss for the second trade below the point of entry and leave it for a long time. Lets see what happens with these trades. I will post regularly about these results in the comments.

USDCHF Descending Triangle:

USDCHF descending triangle is broken with a strong bearish candlestick.

EURUSD has been in uptrend for a long long time and if you look at the daily chart for this currency pair it formed a symmetrical triange and the triange is broken in the upward direction with a strong bullish candlestick. So I am entering a long trade in this direction. I have to leave this trade for a long time. Generally I prefer day trading where I enter the trades and then come out of them in a few hours but this time I am entering a trade where I have to wait for a long time. I will post about this trade regularly in the comments section. The following is the EURUSD daily chart that is showing a symmetrical triangle that was broken with a strong bullish candlestick.

EURUSD Symmetrical Triangle:

Above is the EURUSD symmetrical triangle broken with a strong bullish candlestick

USDJPY was with in the channels for some time broken around 2 days ago and following a downtrend. Yesterday it was oscillatiing at some point for some time in the asian timezone. But when the London market started a long bearish candlestick formed breaking the oscillation again. There I entered a short trade. It went down further and so far the profit is around 50. I would like to leave the trade as it is by moving my stoploss below my entry point. The following is the chart.

USDJPY Short Trade:

USDJPY short trade entered when strong bearish candlestick formed after the London market started

The following is the GBPCAD hourly chart. I was observing this from day before yesterday and just now I found that it formed a reverse pattern of head an shoulders. As you see in the chart a reverse head and shoulders format is formed and there is a neckline which acts as a resistance. But the neck line is broken witha strong bullish candlestick. So I entered long trade. Check the following picture. I will update about this trade in the comments section.

GBPCAD Long Trade:

GBPCAD hourly chart showing the reverse pattern of head and shoulders

EURUSD currency pair was moving in a channel for some days. Today at 4AM EST, Nov.25th, German Info Business Climate Report is going to release. I looked for the report in forexfactory and the actual is greather than forecast. This is in favor of EURO so there is much probability of EURUSD pair go up. Once the currency pair crossed the upper channel line I entered the trade. Moreover I observed the 4 hour chart also. In four hour chart the bullish candlestick has clearlry crossed the trend line. Moreover in four hour chart the bollinger bands are going up and there is a very good distance between the candlestick and the upper bollinger bands upper line. The following are the hourly and four hour EURUSD charts.

EURUSD Hourly Chart:

EURUSD hourly graph crossed the upper channel line

EURUSD Four Hour Chart with Channels:

EURUSD four hour chart crossed the upper channel with clear bullish candlestick

USDCHF currency pair also moving in thrend lines for some time. The hourly graph crossed the bottom channel line with a clear and strong bearish candlestick. Moreover the four hour chart also crossed the bottom channel line with a strong bearish candlestick. And also genereally the USDCHF currency pair moves in the opposite direction of EURUSD. So I entered a short trade. The following are the pictures.

USDCHF Hourly Chart:

USDCHF currency pair clearly crossed the lower channel line with a strong bearish candlestick

USDCHF Four Hour Chart:

USDCHF Four Hour Graph Clearly crossed the lower the channel line with strong bearish candlestick