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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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AUDUSD trend line broken

February 17, 2010 By Raj Leave a Comment

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 trend line broken in four hour chart

AUDUSD hourly chart:

Trade entered in audusd hourly chart when it retraced back to the trend line

Trade entered in audusd hourly chart when it retraced back to the trend line

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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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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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