The following is the four hour chart of CHFJPY currency pair as of 8:30PM. EST time. I have drawn a support trend line at the bottom of the chart. If the trend line broken at this point I think it’s a good opportunity to enter a sell trade or if any strong reversal candlestick pattern [...]
The following is the AUDUSD four hour chart as of Feb. 18th around 1AM. If you observe the chart you can see that it is going in a channel. The channel bottom trend line was broken. So I have entered a sell trade. But I observed it in the hourly chart when it retraced back [...]
The following is the hourly chart as of DEC. 29th 3AM EST. Just now the London market has started. If you observe the chart you can see that there is a support line for this pair which was broken with a strong bearish candlestick just before the beginning of the London market. So I entered [...]
Today is sunday nov. 29th around 9 pm EST time. I have posted in my forum topic at http://www.forexbees.com/forex-forums/usdjpy-long-trade-opportunity there is a long trade oppotunity for USDJPY because of the following things.
1) USDJPY daily chart has formed a candlestick which has a long tail and a small body.
2) The candlestick is completely out of the bollinger bands.
3) Commodity channel index is below -100.
4) Stochastics oscillator is below 20.
5) RSI is below 30.
The following is the AUZDNZD daily chart as of Nov. 28, 2009. I am seeing two very good short trade opporunities for this currency pair.
1) MACD Divergence
2) Trend Line Break out
1) MACD Divergence:
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.
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.
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.
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.
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.
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