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USDJPY head and shoulders format

January 17, 2010 By Raj Leave a Comment

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

USDJPY Head and Shoulder Format

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AUDJPY head and shoulders format

January 17, 2010 By Raj Leave a Comment

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

AUDJPY Head And Shoulders Format

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AUDNZD head and shoulders format

January 17, 2010 By Raj Leave a Comment

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

AUDNZD Head and Shoulders Format

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GBPCHF daily chart in channel lines

January 17, 2010 By Raj Leave a Comment

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 Daily Chart

GBPCHF Four Hour Chart: 

GBPCHF Four Hour Chart

GBPCHF Four Hour Chart

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EURGBP Short trade opportunity

January 17, 2010 By Raj 1 Comment

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 four hour chart

EURGBP Daily Chart:

EURGBP Daily Chart

EURGBP Daily Chart

EURGBP Hourly Chart:

EURGBP Hourly Chart

EURGBP Hourly Chart

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CHFJPY long trade opportunity in four hour chart

January 17, 2010 By Raj Leave a Comment

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

CHFJPY Long Trade Opportunity

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EURCAD long trade opportunity

January 17, 2010 By Raj Leave a Comment

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 one hour chart

eurcad long trade opportunity in four hour chart

eurcad long trade opportunity in four hour chart

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EURAUD long trade opportunity in four hour chart

January 17, 2010 By Raj Leave a Comment

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

euraud long trade opportuntiy in four hour chart

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Free forex system – The Robin Hood Mechanical Forex System

January 17, 2010 By Raj Leave a Comment

Few days back I have bought the forex megadroid expert advisor. Recently they sent me an email about a forex system that I can get for free. It is called “The Robin Hood Mechanical Forex System”. This is a free forex system and you also can get it at “http://www.robinhood-fx.com/”. The author of this forex system is saying, it is free for only limited time. So go ahead and get it.

I have downloaded this free forex system. The author is providing a PDF manual which gives very detailed instructions on how to set up this free forex system. He is also providing two videos on how to use this system. This is mainly for EURGBP currency pair. I haven’t tried the system yet but I wanted to let you know about this free forex system as soon as I got the email. I will post the results also in my future posts after testing this.

But remember, any forex system, you have to try it for sometime in a demo account to know how it is working and to get confidence before you actually use it in your live trading. So for this forex system also, before you use it your live trading try it in demo trading for some time.

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Fractals and Trendlines video

January 17, 2010 By Raj 1 Comment

This video explains a forex technique that uses fractals with trend lines. The author is using fractals to draw trend lines. He is also using nearest resistance as a take profit and the stop loss well below the fractal where the fractal is below all the other fractals.

He also used stochastics where the stochastics was showing a divergence. It looks like it he is also using fibonacci to estimate the reversals. Check the two videos. May be you need to practice a lot before using this technique.

The author is saying that the win percentage for this technique is 80%.

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