Candlesticks Trades Ideas !

[vnchanger]

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

 

[vnchanger]

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.

 

[vnchanger]

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.

 

[vnchanger]

Trade Idea: EUR/USD - Buy At 1.4333
Saturday, 29 August 2009 22:26 administrator
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Candlesticks Trades | Written by Vnchanger.net | Sep 07 09 7:33 GMT |

EUR/USD - 1.4333

Trend : Up

Tenkan-Sen level : 1.4267
Kijun-Sen level : 1.4278
Ichimoku cloud top : 1.4309
Ichimoku cloud bottom : 1.4304

New strategy

Buy at 1.4333, Target: 1.4393, Stop: 1.4300

Despite falling to 1.4191 last Friday after the release of slightly better-than-expected U.S. job reports, the subsequent strong rebound on cross-buying of euro versus Japanese yen suggests gain towards 1.4407 resistance would be seen, however, break of recent high at 1.4448 is needed to 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.

In view of near term overbought condition, we would not chase this move at current level and we prefer to buy euro on pullback. Only break of 1.4177 support would prolong choppy trading below recent high at 1.4448 and bring another fall to 1.4120/30.

 

[vnchanger]

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.

 

[vnchanger]

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.

 

[vnchanger]

Trade Idea: EUR/USD - Buy At 1.4536
Saturday, 29 August 2009 22:26 administrator
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Candlesticks Trades | Written by Vnchanger.net | Sep 14 09 8:36 GMT |

EUR/USD - 1.4547

Trend : Up

Tenkan-Sen level : 1.4575
Kijun-Sen level : 1.4483
Ichimoku cloud top : 1.4302
Ichimoku cloud bottom : 1.4292

New strategy

Buy at 1.4536, Target: 1.4606, Stop: 1.4500

Despite rising to 1.4636 last Friday, the retreat from there suggests a temporary top is possibly formed and consolidation below there would take place and pullback to the Kijun-Sen (now at 1.4483) cannot be ruled out, however, renewed buying interest should emerge around 1.4466/67 (38.2% Fibonacci retracement of 1.4191 to 1.4636 and previous support), bring another rally and above said resistance would extend gain towards 1.4688 (50% projection of 1.2457-1.4339 measuring from 1.3747), however, weakening of near term upward momentum should prevent sharp move beyond 1.4700 and reckon price would falter well below 1.4763 (1.618 times projection of 1.4045 to 1.4407 measuring from 1.4177).

In view of the above analysis, we are still looking to buy euro on dips. Only below 1.4407 (another previous resistance) would defer and risk correction to 1.4360/65 but the Ichimoku cloud area (now at 1.4292-1.4302) should hold

 

[vnchanger]

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.