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Looks like GBPUSD symmetrical triangle breaking

February 15, 2010 By Raj Leave a Comment

The following is the hourly chart of GBPUSD hourly chart as of Feb. 16th, around 2 AM EST. I have drawn two trend line and it formed a symmetrical triangle. It looks like the top trend line of the symmetrical triangle is breaking. There is still 5 more mins. for this candlestick to be completed. After 5 mins., if the candlestick is still a strong bullish candlestick its a good opportunity to enter a long trade. What do you guys say? Check the following picture.

Looks like gbpusd symmetrical triangle breaking

Looks like gbpusd symmetrical triangle breaking

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USDJPY channel – looks like it is breaking

February 15, 2010 By Raj Leave a Comment

The following is the hourly chart of USDJPY as of FEB 16th., around 1 AM. There is around 5 Min. more to complete the hourly candlestick. If you observe the chart it looks like the channel is breaking in the downward direction. After the completion of this hour if the candlestick is still a strong candlestick it’s a good opportunity to enter a short trade. What do you guys say? Check the following picture.

usdjpy looks like channel is breaking

usdjpy looks like channel is breaking

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GBPUSD symmetrical triangle formation

February 15, 2010 By Raj Leave a Comment

The following is the GBPUSD hourly chart as of FEB. 15th, around 3PM EST. I have drawn two trend lines one at the top and another at the bottom and you can see that it has formed a symmetrical triangle. The triangle might be broken at any time. If the triangle is broken with a strong candlestick its a good opportunity to enter the trade. Also observe the four hour chart and you can clearly see the symmetrical triangle formation. Check the following pictures.

GBPUSD Hourly Chart:

GBPUSD hourly chart

GBPUSD hourly chart

GBPUSD Four Hour Chart:

GBPUSD four hour chart

GBPUSD four hour chart

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USDCAD triangle formation

February 15, 2010 By Raj Leave a Comment

The following is the USDCAD hourly chart as of FEB. 15th., around 3 AM EST. If you observe the chart you can see that it is going in a downtrend. I have drawn two trend lines one at the bottom and one at the top and it formed a symmetrical triangle. It’s not exactly a symmetrical triangle but it formed a triangle we can say. Most of the times triangles are formed in the direction trend and since they are an indication of continuous trend I am hoping the bottom trend line broken soon. Once the bottom trend line is broke with a strong bearish candlestick I will enter the trade in that direction.

USDCAD Symmetrical Triangle

USDCAD Symmetrical Triangle

You can also observe the four hour chart for trend confirmation. The following is the four hour chart of USDCAD currency pair.

USDCAD Four Hour Chart

USDCAD Four Hour Chart

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USDCHF channel or ascending wedge

February 15, 2010 By Raj Leave a Comment

The following is the hourly chart of USDCHF hourly chart as of Feb. 15th around 3AM EST. I have drawn two trend lines one on the top and another at the top. It looks like a channel but I think its an ascending wedge. But anyhow I think in another hour the bottom trend line may be broken with a strong candlestick. Moreover the CCI and Stochastics are in the overbought regions. So there is a good probability for this currency pair to break the bottom trend line. Once the bottom trend line is broken with a strong bearish candlestick its a good opportunity to enter a short trade. What do you guys say about this?

USDCHF hourly chart channel or ascending wedge

USDCHF hourly chart channel or ascending wedge

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AUDUSD going in a channel

February 15, 2010 By Raj Leave a Comment

The following is the four hour chart of AUDUSD as of FEB 15th, around 2AM EST. If you observe the chart you can see that it is going in a channel. The channel might be broken at any time and once the channel is broken with a strong candlestick it is a good opportunity to enter the trade in the direction of breaking. Check the following picture. But I would like to do the following. The second picture is an hourly chart of AUDUSD. If the support line of the channel that was in the four hour chart is broken in the hourly chart with a strong candlestick (no long tails) I will enter the trade. What do you guys say?

AUDUSD Channel in four hour chart

AUDUSD Channel in four hour chart

The following is the hourly chart of AUDUSD currency pair.

AUDUSD hourly chart

AUDUSD hourly chart

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