The following is the hourly chart of EURUSD currency pair. If you observe the chart there are two trend lines drawn. The first one is broken last week and the second one is also broken as of today. If you observe the daily chart also the currency pair is at the top of the bollinger bands and moreover a bearish engulfing candlestick is formed. The stochastics and the CCI are at the top so I entered a sell trade. What do you guys think of it?
EURUSD hourly chart
EURUSD Daily Chart
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 is formed at this point it’s good to go for a long trade. What do you guys say?
CHFJPY Four Hour Chart
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 to the trend line I entered the trade. Lets see what happens. I will update it in the comments section.
AUDUSD four hour chart:
audusd trend line broken in four hour chart
AUDUSD hourly chart:
Trade entered in audusd hourly chart when it retraced back to the trend line
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 a sell trade for this. I will leave this for now and check it tomorrow morning again.
USDCHF support line broken at the beginning of the London market
Today is sunday nov. 29th around 9 pm EST time. 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.
So on friday before the close of the market I have entered two long trades for this currency pair. Right now the trades are doing good. I will wait for today until the close of the candlestick and if I am in good profits, I will close one trade and move the stop loss for the other trade above my entry point. Check the screenshot below.
Click on the picture below to maximize it.
Two long trades entered for USDJPY currency pair as it formed a candlestick with a long tail and small body out of bollinger bands and all other indicators are in oversold region
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:
If you want to know about the MACD divergence you can check it at http://www.forexbees.com/content/macd-divergence-trading-very-powerful-forex-trading-technique. If you observe the following graph which is a AUDNZD daily graph you can clearly see that AUDNZD is forming a divergence in the daily chart. The daily chart is showing higher highs but MACD is showing the lower highs. So there is a very good possible short trade opportunity here. There are many ways to take this short trade.
Whichever happens first in the above short trade entries, I will enter a short trade.
2) Trend Line Break out:
If you observe the AUDNZD daily chart, it clearly tells you that it is moving on a trend line. When the chart is coming down and crosses the trend line with a strong bearish candlestick that is a perfect siganl for another short trade. When the trend line is broken with a strong bearish candlestick I will enter a short trade. It may take some days as currency the chart is away from the trend line.
For each of the above two opportunities I would like to enter them with two short trades each. For MACD divergence I will enter two short trades and for trend line break out I will enter two short trades. Whenever I get little proft I will close one and leave the other by moving the stop loss below the entry point. Check the following picture.
Click on the picture below to maximize it.
AUDNZD daily chart showing two possible trading opportunities
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. Lets see what happens with these trades. I will post regularly about these results in the comments.
USDCHF Descending Triangle:
USDCHF descending triangle is broken with a strong bearish candlestick.
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. The following is the EURUSD daily chart that is showing a symmetrical triangle that was broken with a strong bullish candlestick.
EURUSD Symmetrical Triangle:
Above is the EURUSD symmetrical triangle broken with a strong bullish candlestick
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.
USDJPY Short Trade:
USDJPY short trade entered when strong bearish candlestick formed after the London market started
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.
GBPCAD hourly chart showing the reverse pattern of head and shoulders
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