Some of the good trades I entered this week

The following is the hourly chart of EURNZD. If you check the graph you can see a head and shoulders format and the neck line was broken with a strong candlestick at around 3AM EST yesterday. Once the neck line was broken I entered the trade immediately. The difference between the top of the head the neck line is around 150 pips. The candlestick that broke the neck line already penetrated around 60 pips downwards. So I used a take profit around 70 pips. I used a stop loss of the same around 70 pips and moreover this stop loss was above the candlestick that broke the neck line. In around 6 hours it hit the take profit. This is a 1:1 trade which worked very well.

EURNZD hourly chart:

EURNZD hourly chart

EURNZD hourly chart

The following is the hourly chart of GBPUSD. If you observe the chart you can see a trend line joining the lows of the price chart. I am also observing the 15 min. chart at the same time. In the hourly chart the bollinger bands were squeezed at some point when the price chart is at the trend line. So it should break the bollinger bands either by breaking the trend line or by bouncing from the trend line. In the 15 min. chart the bollinger bands were broken in the upward direction and I immediately entered a long trade and used a take profit of 50 pips and in 30 mins. it hit the take profit. I used the stop loss just below the candlestick. Check the following pictures of GBPUSD 15 min. chart and hourly chart.

GBPUSD Hourly Chart:

GBPUSD hourly chart

GBPUSD hourly chart

GBPUSD 15 min. Chart:

GBPUSD 15 min. chart

GBPUSD 15 min. chart

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GBPUSD symmetrical triangle formation

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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GBPUSD Possible Trade Opportunity

The following is the GBPUSD hourly chart as of Jan. 7th, 2010 – 3 AM EST. If you observe the graph

1) There is a support line for this chart.

2) CCI is below -100 that means it is in oversold region.

3) Stochastics is below 20 that means it is in oversold region.

Moreover in another hour and half that means at 1:30 AM EST time GBP Service PMI news is going to release. Go to forexfactory and check it. The news is in favor of GBP. So there is a very good chance that the pair will go up. One way to enter the buy trade is wait until the news is released and enter the trade if it is going up.

Another way is when the CCI or the Stochastics trying to cross above the oversold region then enter the trade. Check the following graph.

GBPUSD Possible trade opportunity

GBPUSD Possible trade opportunity

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