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Candlesticks Trades Ideas !

Discussion in 'Technical Analysis' started by vnchanger, Aug 31, 2009.

  1. vnchanger

    vnchanger Content Contributor

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    Trade Idea: USD/JPY - Buy At 92.80

    USD/JPY – 92.80

    Most recent candlesticks pattern : N/A

    Trend : Near term down

    Tenkan-Sen level : 93.65
    Kijun-Sen level : 94.14
    Ichimoku cloud top : 95.09
    Ichimoku cloud bottom : 94.29

    Original strategy

    Long at 92.80, Target: 94.20, Stop: 92.20

    New Strategy

    Exit long entered at 92.80

    As the greenback has dropped sharply this morning on broad-based strength in Japanese yen after weekend election, suggesting further decline to 92.37 (61.8% projection of 97.79-93.42 measuring from 95.07) is likely, however, near term oversold condition should limit downside to 92.00 and chart support at 91.73 should hold from here.

    In view of this, we are exiting our long position entered at 92.80, stand aside in the meantime and look to sell on recovery. On the upside, whilst rebound to the Tenkan-Sen (now at 93.32) cannot be ruled out, the Kijun-Sen (now at 93.59) should attract renewed selling interest and resistance at 94.08 would hold

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  2. vnchanger

    vnchanger Content Contributor

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    Trade Idea: GBP/USD - Buy at 1.6269
    Saturday, 29 August 2009 22:26 administrator
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    Candlesticks Trades | Written by Vnchanger.net | Sep 03 09 6:35 GMT |

    GBP/USD - 1.6269

    Trend : Up

    Tenkan-Sen level : 1.6218
    Kijun-Sen level : 1.6245
    Ichimoku cloud top : 1.6392
    Ichimoku cloud bottom : 1.6324



    New Strategy

    Buy at 1.6269, Target: 1.6370, Stop: 1.6230
    GBP / USD is recovering from 1.6324 and further strengthen the ability to process the 1.6365 support level and 1.6382 should hold with a decline thereafter.

    [​IMG]
     
  3. vnchanger

    vnchanger Content Contributor

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    Trade Idea: GBP/USD - Buy at 1.6330
    Saturday, 29 August 2009 22:26 administrator
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    Candlesticks Trades | Written by Vnchanger.net | Sep 04 09 6:25 GMT |

    GBP/USD - 1.6330

    Trend : Up

    Tenkan-Sen level : 1.6325
    Kijun-Sen level : 1.6264
    Ichimoku cloud top : 1.6410
    Ichimoku cloud bottom : 1.6288



    New Strategy

    Buy at 1.6330, Target: 1.6390, Stop: 1.6300
    GBP / USD is recovering from 1.6324 and further strengthen the ability to process the 1.6365 support level and 1.6382 should hold with a decline thereafter.

    [​IMG]
     
  4. vnchanger

    vnchanger Content Contributor

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    EUR/USD - 1.4388

    Trend : Up

    Tenkan-Sen level : 1.4343
    Kijun-Sen level : 1.4290
    Ichimoku cloud top : 1.4292
    Ichimoku cloud bottom : 1.4285

    New strategy

    Buy at 1.4376, Target: 1.4426, Stop: 1.4346

    As the single currency has risen after finding renewed buying interest right at the Tenkan-Sen, suggesting a retest of recent high at 1.4448 is under way, above there would confirm medium term upmove has resumed and extend to 1.4474 (50% projection of 1.2885 to 1.4339 measuring from 1.3747), then 1.4500. Having said that, overbought condition would limit upside to 1.4550 and risk from there has increased for a retreat later.

    In view of the above analysis, we are still looking to buy euro on pullback. Break of the Ichimoku cloud (now at 1.4285-92) would risk 1.4240/50 but support at 1.4177-91 would contain downside.
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  5. vnchanger

    vnchanger Content Contributor

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    GBP/USD - 1.6408

    Trend : Up

    Tenkan-Sen level : 1.6384
    Kijun-Sen level : 1.6279
    Ichimoku cloud top : 1.6369
    Ichimoku cloud bottom : 1.6247

    New strategy

    Buy at 1.6397, Target: 1.6447, Stop: 1.6357

    Cable has rebounded after finding renewed buying at 1.6322 this morning, however, break of 1.6445 resistance is needed to confirm the rise from 1.6113 low has resumed and extend to 1.6469 (38.2% Fibonacci retracement of 1.7044 to 1.6113) and possibly towards 1.6500. However, reckon 1.6579 (50% Fibonacci retracement) would hold from here due to overbought condition and bring retreat later.

    In view of this, we are still looking to buy sterling on dips as the Kijun-Sen (now at 1.6279) should continue to limit cable’s downside. Only a drop below 1.6240-47 (61.8% Fibonacci retracement of 1.6113 to 1.6445 and current level of the Ichimoku cloud bottom) would signal the aforesaid rise has ended, then fall to 1.6190/00 would follow but the British pound should stay well above recent low at 1.6113.
    [​IMG]
     
    #5 vnchanger, Sep 8, 2009
    Last edited: Sep 8, 2009
  6. vnchanger

    vnchanger Content Contributor

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    GBP/USD - 1.6178

    Trend : Downward

    Tenkan-Sen level : 1.6415
    Kijun-Sen level : 1.6460
    Ichimoku cloud top : 1.6594
    Ichimoku cloud bottom : 1.6428

    New strategy :

    Sell at 1.6178, Target: 1.6128, Stop: 1.6218

    The British pound has remained under pressure after breaking the support at 1.6322 and 1.6288, suggesting the rise from 1.6113 has ended and the decline from 1.6742 would extend to 1.6190/00, however, support at 1.6113 should hold from there due to oversold condition. Looking ahead, once this support is penetrated, this would signal the major correction from 1.7044 top to retracement medium term upmove is under way for eventual fall to 1.6020 (1.618 times projection of 1.6742 to 1.6403 measuring from 1.6569) next week.

    In view of this, we are still looking to sell cable on recovery but with a lower level as the Tenkan-Sen (now at 1.6415) should limit upside. Only a firm break above the Kijun-Sen (now at 1.6460) would signal a low is possibly formed, then gain to 1.6500/10 would be seen but resistance at 1.6569 should remain intact.
    [​IMG]
     
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