The following is the four hour chart for EURJPY as of Jan. 17th around 2 AM EST. There is a CCI indicator I placed below the chart. If you observe the chart you can see that there is CCI divergence. The price has come down than the previous low but the CCI didn’t. This formed a divergence. Moreover the CCI has crossed above the oversold region which is -100 line. So I think this is a good opportunity to enter a long trade. What do you guys say?
EURJPY Four Hour Chart:
The following is the AUDUSD four hour chart as of Jan. 17th, around 11 PM EST. If you observer the chart you can see that the chart is moving in a channel with a resistance line at the top and a support line at the bottom. Currently the chart is the bottom support line. And if you observe the CCI it is in the over sold region and it trying to cross above the -100 line. And also if you observe the Stochastics it is also in the oversold region. It is also trying to cross above the 20 line. At this point if a bullish engulfing candlestics are formed I think its a good opportunity for a long trade. What do you guys say? Also observe the hourly chart.
AUDUSD Four Hour Chart:
AUDUSD four hour chart moving in a channel
AUDUSD Hourly Chart:
AUDUSD Hourly Chart
The following is the four hour chart of USDJPY as of Jan. 17th, around 11 PM EST. If you check this you can see that there is a head and shoulders format is formed and now the currency pair is moving at the neck line. If the neck line is broken with a strong bearish candlestick I think this is a good opportunity to enter a short trade. I think the breaking will occur at the beginning of the London Market. What do you guys say about this trade?
USDJPY Four Hour Chart:
USDJPY Head and Shoulder Format
The following is the four hour chart of AUDJPY currency pair as of Jan. 17th., around 10 PM EST. If you observe the graph you can see that a head and shoulders format is formed. Even though the shoulders are not of equal height we can still say that this is an head and shoulders format. You can see the neck line also. If the neck line is broken with a strong bearish candlestick I think its a better opportunity to enter a short trade. What do you guys say?
AUDJPY Four Hour Chart:
AUDJPY Head And Shoulders Format
The following is the hourly chart of AUDNZD as of Jan. 17th, 10 PM EST. If you observe this you can see that there is a head and shoulder format is formed with a neck line. If the neck line is broken with a strong bearish candlestick its a good opportunity to go for a short trade. What do you guys say?
AUDNZD Hourly Chart:
AUDNZD Head and Shoulders Format
The following is the GBPCHF daily chart as Jan. 17th around 10PM EST. If you observe the chart you can see that it is going in trend lines. Moreover currently there is a resistance line also. You can observe the resistance line clearly in the four hour chart. So even if the chart crosses this resistance line the chart may go up to the upper channel line and then it may reverse. Because by that time the daily chart CCI and Stochastics will be completely in the overbought region.
Check the following daily and four hour charts.
GBPCHF Daily Chart:
GBPCHF Daily Chart
GBPCHF Four Hour Chart:
GBPCHF Four Hour Chart
The following is the EURGBP four hour chart as of Jan 16th, around 10 PM EST. If you observe the graph there is a support trend line at the bottom of the chart and it was broken.
Observe the daily graph. The support trend line in the daily graph also broken.
Observe the hourly graph. The support trend lien in this hourly graph also broken.
All the above points are making me to think that it will further go down. What do you guys say?
EURGBP Four Hour Chart:
eurgbp four hour chart
EURGBP Daily Chart:
EURGBP Daily Chart
EURGBP Hourly Chart:
EURGBP Hourly Chart
The following is the four hour chart of CHFJPY as of Jan 17th 7 PM. If you observe the chart you can see that there are two support lines. The first support line was broken earlier but the 2nd support line is strong. Moreover the CCI and Stochastics both reached the oversold region. Now they are trying to cross above the oversold region. So this is a good opportunity to enter a buy trade. But you have to be careful here. Because the first support line may act as the resistance and it may reverse back. So the best way is enter two trades, one trade take the profit when the price reaches the first support line and for the second one, when the price reaches the first support line move the stop loss above the entry point. What do you guys say about this trade?
Check the following picture.
CHFJPY Long Trade Opportunity
The following is the EURCAD hourly chart as of Jan. 17th, around 7 PM EST. If you observe the chart you can see that
1) There is a resistance at the bottom of the chart.
Observe the four hour chart also. You can see that there also a resistance is there. I marked it as 1st resistance. If you observe there is another resistance forming which I marked it as 2nd resistance. If at the end of this four hour candlestick if a bullish engulfing cnadlesticks are formed I think that is a very good opportunity for a long trade for this currency pair. What do you guys say?
eurcad long trade opportunity one hour chart
eurcad long trade opportunity in four hour chart
The following is the EURAUD four hour chart as of Jan. 17th 6 PM EST. If you observe the chart
1) There is a resistance at the bottom of the chart
2) CCI was in oversold region and crossed above the -100 line already.
3) Stochastics was in oversold region and crossed above tht 20 line.
All these conditions are favoring for an upward movement for this currency pair. What do you guys say?
Check the following four hour chart for this currency pair.
euraud long trade opportuntiy in four hour chart
The strategy is very simple and works very well. You can find a lot of trading opportunities using this strategy. This strategy involves only parabolic SAR indicator with default settings. Indicators: Parabolic SAR with default settings (Step: 0.02, Maximum: 0.2) Time Frame: Hourly But you need to observe the parabolic SAR on the higher time frame of daily chart. Markets Sessions … [Read More...]
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