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audjpy technical analysis

January 26, 2010 By Raj Leave a Comment

The following is the daily chart of AUDJPY as of Jan. 26th around 4 AM EST. If you observe the graph you can see that there is a strong resistance trend line which was broken earlier and now the graph is coming towards the resistance line and now this resistance may act as a support trend line. Moreover the stochastics has reached the oversold region which is below 20. The CCI also reached the oversold region.

I think its a good opportunity to enter a long trade if a bullish engulfing candlestick pattern is formed or a doji with a small or no body at all is formed at this point.

What do you guys think of this?

audjpy technical analysis

audjpy technical analysis

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Hidden Divergence small ebook

January 26, 2010 By Raj Leave a Comment

As most you know one of the most profitable way to trade forex is using divergence. But you may not know what is hidden divergence. (I also don’t know what it is until I read this small ebook).

Today I got an email from some one and that email referred me to go to a site where I can get a kind of small ebook about hidden divergence for free. This book is really interesting. You can get it for free at http://www.tradeology.com/hidden-divergence-a.html. All kinds of divergence is explained in this. Different kinds of divergence using different indicators is also explained. Go ahed and get this small free ebook. Let me know what you think of about all these divergences.

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Exciting forex expert advisors competition

January 26, 2010 By Raj Leave a Comment

Any one heard of this competition? A competition between the authors of non-commercial expert advisors is going on at http://www.forex-robot-world-cup.com/. Non commecial expert advisors mean expert advisors that are not being sold or marketed anywhere but are solely used by their developers.

The first prize is $100,000. The competition has two phases. The first phase is a screening phase and the second phase is live (real money) trading phase.

In the screening phase 329 authors participated out of which 10 expert advisors are selected for live trading phase. In the screening phase around 320 expert advisors are taken out as they did not do well in a short period of time which is 2 months.

Now there are only 10 expert advisors are left which are already trading on live accounts. You can see the results of the expert advisors on the site. One expert advisor is trading good which made around 160% profit with in the 11 days.

I am not sure if this competion is real or not but it is fun. Go and check it.

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