FOREX ideas

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xpertstocktrader

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Hi all. Idea is to bring some chart ideas. Some of you know me from stock hornal and I'm going to move some ideas on futures and currency charts so all ideas, comments can be helpfull. Thank you all for future cooperation.

Ivica

CHFJPY didn’t do much but at least it is breakeven trade. Breakdown pace was not very nice and didn’t follow initial selling pace

http://www.ivicacharts.com/diagrams/2008/07242008CHFJPY30.jpg
http://www.ivicacharts.com/diagrams/2008/07242008CHFJPY30t.jpg

USDJPY same situation. After breakup we didn’t saw any buying pace and despite of that we can see rounding highs action. In case like this I use 10 /20sma as exit area so after all it was not big loss

http://www.ivicacharts.com/diagrams/2008/07232008USDJPY30.jpg
http://www.ivicacharts.com/diagrams/2008/07242008usdjpy30.jpg

EURJPY did best and reached target area. Not much to say about that. We can see how 20sma (blue line) can be good resistance/support area for trend determination.

http://www.ivicacharts.com/diagrams/2008/07242008EURJPY60.jpg
http://www.ivicacharts.com/diagrams/2008/07242008EURJPY60t.jpg



Here are few ideas for today:

USDCAD daily chart will be on watch list for possible 3rd breakup. Alos we can see consolidation at highs on the 60 min chart what will be initial time frame for trading plan.
http://www.ivicacharts.com/diagrams/2008/07242008USDCADd.jpg


GBPCHF is something what I’m following right now. 60 min continuation pattern and 15 min consolidation. Setup is under low and stop above 60 min small bar.

http://www.ivicacharts.com/diagrams/2008/07242008GBPCHF60.jpg

Good trading.
Ivica
 
EURUSD

This is chart what I was looking for. It is in previous post.

http://www.ivicacharts.com/diagrams/2008/07252008EURUSD30.jpg

reason why I like EURUSD chart is bottoming process (rounding bottom) and strong daily/weekly support area. On the daily chart that is 50/100sma support area nd on the weekly chart that is 10/20sma support area. After strong move down it was expectable to watch for reversal and in rounding lows I always looking for stronger bounce from low and consolidation after that (base, flag or triangle). That will bring me low risk setup. It was same with EURUSD chart.

Here is chart explanation:

http://www.ivicacharts.com/diagrams/2008/07252008EURUSD60.jpg

Blue line is rounding bottom process. Red lines are consolidation after bounce from low. It is important (for me) to see that bounce pace is much stronger then consolidation pace what is good start for possible good continuation move..

This is EURUSD chart now.

http://www.ivicacharts.com/diagrams/2008/07252008EURUSD30t.jpg


GBPCHF

For this one the patience was key. It was slow but reached target area and bounced after that. Look how bounce now is stronger then selling pace. I will watch for consolidation after this bounce for long setup on the 15/30 min chart.

http://www.ivicacharts.com/diagrams/2008/07242008GBPCHF60.jpg

http://www.ivicacharts.com/diagrams/2008/07252008GBPCHF60.jpg


Good trading
Ivica
 
FOREX Corner

Date: 07/27/2008

Time:11:55 am ET
¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬
For Monday I didn’t find exactly setup chart but I found several interesting what I will follow during day. First I like to say that as in stocks or any instruments my focus is low risk setup and for me that mean setup where I can make reasonable trading plan with at least twice bigger reward possibility then risk what I will use.

USDCHF

I like weekly chart (flag and I draw action what we can get and what chart suggest after flag consolidation.

http://www.ivicacharts.com/diagrams/2008/07282008USDCHFw.jpg

Equal move will be 50sma and previous low resistance area and that is action what I will follow. I use weekly charts not for setup just for possible direction. For setup I will follow 60 min chart. After nice strong move up with buying pace obviously bigger then selling pace in to low chart pulled back. For setup it must stay above 20sma (blue line) and if that will be case on the 5/15 min charts I will look for setup. This is just idea for now.
http://www.ivicacharts.com/diagrams/2008/07282008USDCHF60.jpg

USDCAD

I post last week this chart:
http://www.ivicacharts.com/diagrams/2008/07242008USDCADd.jpg

This is just example how I look on all this. I didn’t took it as swing trade but I was look for intraday setups. It is always good to see direction on bigger time frames what can help for intraday setups:
http://www.ivicacharts.com/diagrams/2008/07282008USDCADd.jpg


USDJPY

It is for now just idea too. I like 60 min base, but for low risk setup need to stay longer in base. But if will anyway, go and bounce from 10sma (brown line) I will take it, but with less risk then usual. It will be early breakup and trading risk will be higher
http://www.ivicacharts.com/diagrams/2008/07282008USDJPY60.jpg


GBPJPY

Close chart as USDJPY. It is something what I will watch. If will bounce from 10sma (brown line) then I will look for previous high target area. But if consolidation will continue then I will look for 50sma weekly resistance area.
http://www.ivicacharts.com/diagrams/2008/07282008GBPJPY60.jpg


As told above all charts are now on watch list for me. All updates I will send when I will see low risk setups.

Good trading!!!
Ivica
 
FOREX Corner

Date: 07/28/2008

Time: 18:08 pm ET


Here are two ideas, worth to follow. I will like to see longer consolidation before setup, because right now consolidation didn’t hold enough long for low risk setup. On both charts blue line (20sma) is very important and I like to see bounce or pullback from it. If that wont be case then risk will increase. I use them for trend pace.

http://www.ivicacharts.com/diagrams/2008/07302008USDJPY60.jpg
http://www.ivicacharts.com/diagrams/2008/07302008EURGBP60.jpg


Good trading!!!
Ivica
 
Nice move. It was fast but strong buying pace and reached resistance area. Congrats if anyone took it. I will look for 5 /15 min continuation
 
FOREX Corner

Date: 08/01/2008

Time: 04:08 ET
Time: 09:08 GMT
¬¬________________________________________________________

http://www.ivicacharts.com/diagrams/2008/08012008AUDUSD15.jpg
http://www.ivicacharts.com/diagrams/2008/08012008AUDUSD15t.jpg

Congrats to takers. Previous EURUSD long setup did great too

http://www.ivicacharts.com/diagrams/2008/07312008EURUSD15.jpg
http://www.ivicacharts.com/diagrams/2008/07312008EURUSD15t.jpg

Here is new trading idea. I will look for short setup and pull back from 60 min 10sma. Target is previous low.

http://www.ivicacharts.com/diagrams/2008/08012008EURUSD60.jpg

Good luck
 
FOREX Corner
Date: 08/04/2008

Time: 04:35 ET
Time: 09:35 GMT
¬¬________________________________________________________

http://www.ivicacharts.com/diagrams/2008/08042008GBPJPY60.jpg

I will look for possible break down from 60 min consolidation area. Target will be daily 50sma support area. This is idea for now what I will follow. I will look for possible setup on 5/15 min chart, but 60 min chart will be initial time frame.

Good trading!!!

Ivica
 
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