Some of the profitable trades I had this week

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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AUDNZD daily chart technical analysis

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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AUDNZD head and shoulders format

The following is the hourly chart of AUDNZD as of Jan. 17th, 10 PM EST. If you observe this you can see that there is a head and shoulder format is formed with a neck line. If the neck line is broken with a strong bearish candlestick its a good opportunity to go for a short trade. What do you guys say?

AUDNZD Hourly Chart:

AUDNZD Head and Shoulders Format

AUDNZD Head and Shoulders Format

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