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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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AUDJPY going in an ascending wedge

February 14, 2010 By Raj Leave a Comment

The following is the four hour chart of AUDJPY currency pair as of FEB 15th, around 2 AM EST. If you check the graph you can see that it is going in an ascending wedge pattern. If you observe the hourly graph it looks like it is going in a channel. But observing the four hour chart will give you a clear picture. But to enter the trade I will check the hourly chart and once the bottom support line of the wedge in the four hour chart is broken with a strong bearish candlestick in the hourly chart I will enter the trade. What do you guys say about this? Check the following picture.

AUDJPY ascending wedge

AUDJPY ascending wedge

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GBPCHF symmetrical triangle formation

February 14, 2010 By Raj Leave a Comment

The following is the hourly chart of GBPCHF as of Feb. 14th, around 2 AM EST. I have drawn two trend lines which formed a symmetrical triangle. In another hour London market is going to start and I think the symmetrical triangle will be broken in the direction of trend. (Currently it has an uptrend). Once the triangle is broken I think its a good opportunity to enter the trade. I won’t enter the trade if it is broken in the reverse direction. What do you guys say?

Check the following picture.

GBPCHF symmetrical triangle formation

GBPCHF symmetrical triangle formation

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USDJPY moving in channel

February 13, 2010 By Raj Leave a Comment

The following is the USDJPY hourly chart as of Feb. 13, 2010, around 1 PM. 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 its a good opportunity to enter the trade. what do you guys say?

Check the following picture.

USDJPY moving in channel

USDJPY moving in channel

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AUDNZD daily chart technical analysis

January 24, 2010 By Raj Leave a Comment

The following is the AUDNZD daily chart as of Jan. 24th, 2010 around 10 PM. If you observe the graph you can see that it is going in a channel.

1) The chart has reached the upper channel line.

2) The CCI has reached the overbought region and now it is trying to cross below the overbought region (+100 line).

3) Stochastics almost reached the overbought region.

4) Moreover a pin bar formation is formed (a candlestick with no body at all – I call every candlestick with no body as a doji).

Because of the above reasons I think it’s a good opportunity to enter a sell trade. What do you guys say?

Check the following charts.

AUDNZD daily chart:

audnzd daily chart

audnzd daily chart

AUDNZD Doji Formation:

audnzd doji formation in daily chart

audnzd doji formation in daily chart

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USDJPY daily chart trading opportunity

January 21, 2010 By Raj 1 Comment

The following is the daily chart for USDJPY as of Jan. 21st, around 11PM EST. If you observe the chart you can see that there are two resistance lines and the chart has crossed the trend lines with two strong bearish candlesticks. The second one is not completed yet. But if the second one is completed with a strong bearish candlestick I think its a good opportunity for a sell trade. What do you guys say?

USDJPY Daily Chart

USDJPY Daily Chart

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CCI Divergence for EURJPY

January 17, 2010 By Raj 2 Comments

The following is the four hour chart for EURJPY as of Jan. 17th around 2 AM EST. There is a CCI indicator I placed below the chart. If you observe the chart you can see that there is CCI divergence. The price has come down than the previous low but the CCI didn’t. This formed a divergence. Moreover the CCI has crossed above the oversold region which is -100 line. So I think this is a good opportunity to enter a long trade. What do you guys say?

EURJPY Four Hour Chart:

eurjpy cci divergence

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AUDUSD moving in channel lines

January 17, 2010 By Raj 1 Comment

The following is the AUDUSD four hour chart as of Jan. 17th, around 11 PM EST. If you observer the chart you can see that the chart is moving in a channel with a resistance line at the top and a support line at the bottom. Currently the chart is the bottom support line. And if you observe the CCI it is in the over sold region and it trying to cross above the -100 line. And also if you observe the Stochastics it is also in the oversold region. It is also trying to cross above the 20 line. At this point if a bullish engulfing candlestics are formed I think its a good opportunity for a long trade. What do you guys say? Also observe the hourly chart.

AUDUSD Four Hour Chart:

AUDUSD four hour chart moving in a channel

AUDUSD four hour chart moving in a channel

AUDUSD Hourly Chart:

AUDUSD Hourly Chart

AUDUSD Hourly Chart

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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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