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AUDUSD Trading opportunity

June 6, 2010 By Raj Leave a Comment

The following is the four hour chart of AUDUSD currency pair as of June 6th, around 8:30 PM EST time. There is a clear support at the bottom of the chart. The price may break the support line or reverse at this point. But if you observe the stochastic indicator and CCI they both are in the oversold region. Moreover in the hourly chart also the price reached the oversold region. So there are more chances for the price to reverse back. This might be a temporary reversal only. But at the support line if any good bullish reversal candlestick pattern is formed I will enter a long trade and after a short gain I will move the stop loss above my entry.

Check the following four hour and hourly charts.

AUDUSD Four Hour Chart:

AUDUSD Four Hour Chart

AUDUSD Four Hour Chart

AUDUSD Hourly Chart:

AUDUSD Hourly Chart

AUDUSD Hourly Chart

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EURUSD trading opportunity

April 4, 2010 By Raj Leave a Comment

The following is the hourly chart of EURUSD as of April 4th, 2010 around 2:30 AM EST. If you observe the chart there was a trend line at the bottom of the chart and the trend line is currently breaking. In another 30 mins. London market will start and if the trend line is broken with a strong bearish candlestick I think it’s a good opportunity to enter a short trade. What do you guys say?

EURUSD trading opportunity

EURUSD trading opportunity

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GBPJPY trading opportunity

March 17, 2010 By Raj Leave a Comment

The following is the hourly chart of GBPJPY currency pair as of March18, 3 AM. If you check this you can see that there is a trend line that was broken in the hourly chart. I was observing the 15 min. chart also and in the 15 min. chart when it retraced back I entered a sell trade. Currently I am in 10 pips profit. I put the stop loss above the trend line. There is another trend line below that so I put the take profit a little above that. Check the following picture.

GBPJPY hourly chart

GBPJPY hourly chart

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Some of the profitable trades I had this week

February 27, 2010 By Raj Leave a Comment

AUDNZD ascending wedge:

The following is the four hour chart of AUDNZD. It was in an ascending wedge for some tome and it was broken two days back. I was watching both four hour chart and hourly chart and when it was broken in hourly chart, it retraced back to the trend line. When it retraced back I immediately entered a short trade.

Check the following four hour chart.

AUDNZD four hour chart:

AUDNZD four hour chart

AUDNZD four hour chart

Check the following hourly chart also. When it retraced back to the trend line in the hourly chart I entered a short trade. Used a stop loss 5 pips above the trend line. The total stop loss is around 10 pips. Used a take profit of around 50 pips. It hit the take profit after around 6 hours. This is a 1:5 trade which worked very well.

AUDNZD hourly chart:

AUDNZD hourly chart

AUDNZD hourly chart

EURUSD Trend line break:

The following is the hourly chart of EURUSD and there is a trend line I draw which was broken by a strong bullish candlestick. When it was broken by it I immediately entered a long trade. I used a stoploss of around 5 pips below the last low point. Currently I am in a profit of around 30 pips. I left it as it is and I will close it once I get a good profit on it. Check the following hourly chart of EURUSD.

EURUSD hourly chart

EURUSD hourly chart

USDCHF Trend line break:

The following is the hourly chart of USDCHF currency pair and there is a trend line for it which was broken by a strong bearish candlestick. When it was broken I immediately entered a short trade. I used a stop loss of around 5 pips above the last high point. Currently I am in a profit of around 25 pips. I left it as it is and I will clsoe it once I get a good profit on it. Check the following houlry chart of USDCHF.

USDCHF hourly chart

USDCHF hourly chart

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Ascending Wedge and Double tops for AUDJPY

February 18, 2010 By Raj Leave a Comment

The following is the four hour chart of AUDJPY currency pair as of Feb. 18th, around 2 AM EST. If you observe the chart you can see that it was going in an ascending wedge. Now it is also forming a double tops. If the bottom trend line for the ascending wedge is broken with a strong candlestick it will be a good opportunity for a short trade. Moreover if it also crosses the neck line of the double tops it would be a very potential short trade opportunity. What do you guys say? Check the following picture.

AUDJPY Four Hour Chart:

audjpy ascending wedge and double tops

audjpy ascending wedge and double tops

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AUDCHF ascending wedge

February 18, 2010 By Raj Leave a Comment

The following is the four hour chart of AUDCHF as of Feb. 19th, around 12 AM EST. If you observe the chart you can see that it is going in an ascending wedge. It looks like it is breaking the bottom trend line of the wedge. If there is a strong candlestick formed breaking the bottom trend line of the ascending wedge it’s a good opportunity to enter a sell trade. Moreover the CCI and Stochastics haven’t reached the oversold region yet. I will observe the hourly chart and if a strong bearish candlestick is formed breaking the bottom trend line it’s a good opportunity to enter a sell trade. What do you guys say?

Check the following pictures of AUDCHF currency pair.

AUDCHF Four Hour Chart:

AUDCHF Four Hour Chart

AUDCHF Four Hour Chart

AUDCHF Hourly Chart:

AUDCHF Hourly Chart

AUDCHF Hourly Chart

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EURUSD channel broken

February 18, 2010 By Raj Leave a Comment

The following is the four hour chart of EURUSD currency pair as of Feb. 18 around 11 PM EST. If you observe the chart you can see that it was going in a channel for some time and the bottom trend line of the channel was broken around 4 hours back. So I am expecting it will follow that and go down more. But right now Asian market is going. So mostly there is a chance for reversal for some time and again it will follow the downward direction. So observe the hourly chart. In the hourly chart I am using the stochastics and CCI. In the hourly chart the stochastics and the CCI were in oversold region and now trying to come above the oversold region. So its better to wait until it comes to the overbought region or the stochstics moving averages cross again. I think the following are the three ways we can enter a sell trade on this.

1) CCI reaches the overbought region and then try to cross below the overbought region, its a good opportunity to enter the trade.

2) Stochastics reaches the overbought region and then try to cross below the overbought region, its a good opportunity to enter the trade.

3) When the stochastics moving averages cross over its a good opportunity to enter a sell trade.

4) when the price chart reaches the trend line its a good opportunity to enter the trade but we have to use a good stop loss.

Check the following pictures of EURUSD currency pair for four hour and hourly charts.

EURUSD Four Hour Chart:

eurusd four hour channel broken

eurusd four hour channel broken

EURUSD hourly chart:

eurusd hourly chart - observe stochastics and CCI

eurusd hourly chart - observe stochastics and CCI

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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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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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