$EURUSD Intraday Analysis

Hello everybody,
As I said in my last article EURUSD should touch 1.4000 early this week, it can be seen it bounced off 1.4 and now is head through the south.
We have got a new trendline here and sellers beware of this trendline, I think this pair can rest little bit near the green ellipse in the chart and in case of breaking the trendline I will go short to see the pair near the red ellipse.

And just remember that this week we'll have Currency world war, so use tight stops in your trades.

Regards

$EURAUD $CADJPY $EURJPY $EURUSD Range Trade And Breakout Possibility

Dear traders,
I want to inform you about four great opportunities in the currency market.
Absolutely after strong trends in the market we have consolidations and so we can trade in many short and long positions.
The most important phase of trading is to recognize formation of the market, There are two major phases that we should recognize : 1)Trending Market  2)Range Market

Trending Market have got its own strategies and these strategies DO NOT work on Range markets and vice verse for strategies involved in Range Markets.
Therefore you have to specify these phases in every trades you are going to take.

OK, Let's get started.
EURUSD:
After a strong bullish trend in EURUSD, now we can see that single currency is going sideways between 1.3700 and 1.4000.
In the first chart above there is the H4 chart of this pair.
Lines #1 and #2 have made a descending channel and Lines #1 and #3 have made a symmetrical triangle, all of them have made this pair to go up and down many times.

EURUSD is exactly in the middle of that triangle and however I don't like to trade in these situations as the pair is in the "No Mans Land" area, that big bullish engulfing candle shows us that we can see 1.4000 again in the first days of the week ahead.

So, wait for the price to retest the upper #1 trendline and I like to see another long tail around that line and a nice bearish H4 candle to go short there.
In the other hand it can be a breakout, when you are trading in a range market then you should watch carefully if a breakout is going to take place.

CADJPY:
In this pair exactly we have a narrow range between line #3 and #4.
I have to say that when we have a narrow range I don't like to trade in the channel and go short and long for small profits as in these cases breakout is likely to happen sooner.
So, there isn't any signals in this pair now but when price goes beyond the line #3 or below the line #4 then it is an indication of a breakout. I like a candle to close (It's important, TO CLOSE) beyond or below that levels for a breakout situation.

EURAUD:
It's around 20 days that this pair is in a 220pips-Range situation.
Price is between two Lines : #1 and #2 and sometimes price was bounced off the Middle line too.
So in this case the strategy goes this way: When price is exactly around line #1 or #2 then look for a bearish candle to close below the low of the previous candle(In case of touching the line #1) or a bullish candle to close beyond the high of the previous candle(In case of touching the line #2) and go short and long respectively.
In case of a short signal you should set two profit targets, one is exactly the Middle line and the second is line #2 and in case of a long signal, Middle line and line #1 should be your targets.

Time of a range market is too important, it's a long time that this pair is in a range market and now a breakout is likely to happen, so watch the price action around those lines and do exactly what I said in the CADJPY analysis.

EURJPY:
We have got a strong support line in this pair (Line #2) and a short-term resistant line (Line #1). Price is going sideways between these two lines and now it is exactly near the support line and has formed a nice bullish engulfing pattern yesterday.
So wait for a H4 candle to close beyond 112.10 (Previous High) and go long to see 112.65 for the first target and 113.75 for the second one. Remember that when price goes to the middle line then move your stops to break-even for the second position.

In the other hand when that strong support line is broken then we can see a sharp move to the downhill.

Regards

$EURUSD Short Setup

As I said before 1.3900 and around would be good levels to go short.
EU exactly bounced off the 61.8% and now again there is a sharp bearish move.
I said in twitter that wait for a confirmation, my confirmation was that nice bearish H4 candle that closed below the low of the previous candle, so I went short at 1.3906.
I'm looking for 1.3750 for my first profit target and 1.3580 for the last.

Regards

$EURCHF, the last attempt

Hello everybody,
We had got another short attempt on this pair before with 30pips profit in our first position and got stopped out in the 2 other positions at break even. (you can see it here)
Now we are going to try it again, In the chart above there is a triple top pattern that shows us the attempt to break 1.3500 was hard and this pair was not successfull of doing this.
So I'am looking a for another short setup here which its confirmation is breaking the short-term trendline.
Any candles that closes below the trendline will be a good point to go short but in this case we have to use a larger stop loss(I will tweet about the exact entries and setups), In other case we can wait for the price to retest again the trendline and then selling the pair.
If you don't want to trade the trendline method, So you can wait for the great short-term support (short-term support 1 in the chart above) to be broken and in H1 after a close below it you can go short.
Second short-term support is our first profit target, the 200sma in H4 is the second profit target and looking for around 50% to 61.8% Fibonacci from 08.09.2010 to 08.10.2010 is our third profit target.

I will tweet about this setup.

Regards,

Looking to short $CADJPY

This pair is bouncing off its trendline now , have a look at H4 chart above you'll see this.
So it's good to wait the price to go below its hourly 200sma in the hourly chart.
Any closes below its hourly 200sma and short-term trendline will be my place to go short this pair.
In other hand if the longer term (H4) trendline be broken then we wait for a long setup.

Follow me on twitter for the entry price and setup.

Regards

Let's say you'll do a crime for going short on $EURUSD

It's a rule now! If you short EURUSD then you are a criminal!
So we'are only looking for long entries.I like to say that the only way I'm going to short this pair is what you see in chart above.
We have got two trendlines there and the price is going to retest its broken long-term trendline now.
There is also a doji right there in H4 and also a shorter term trendline that I think it's now the longer term for this pair and you can see how the price bounced off this trendline on its way to the downhill.
There will be an impunity for those who want to wait for the price to move down after retesting the trendline and then waiting for the pair to break that shorter term trendline.So if this scenario gonna happen then you won't go to the "Currency Jail"
If the price goes beyond that broken trendline then we can say that sharp move to the down was a "False Breakout".
But for now any other shorts for this pair will blow up your account.

Have a nice time.

$EURCHF finally decided what to do next

Before reading this article please have a look at my previous technis for this pair here.
The trendline was broken and this pair finally changed its trend.
So we are waiting for the trend to form completely and after a pullback we can go short.
Follow me on twitter for the next articles and trade setups for this pair.

Thanks

Trendline was broken in $EURUSD

Hello again traders,
Wish you have gained some pips in my EURJPY short setup.There is a great opportunity on EURUSD as the long-term trendline was broken.
In the image above you can see that trendline and 3 candles that closed below it.
we have got 40sma on the way , so any closes below 40sma is a good opportunity to go short and in another way we can wait for a pullback that retests the broken trendline from below and then we'll have a much more accurate setup to go short.
I will tweet this setup so follow my tweets for another profitable setup in this week.

Good luck