EURUSD HOURLY MOVEMENT BEFORE FOMC MINUTES

A triangle has formed on hourly EURUSD chart. After FOMC minutes if price will break up or down, we can be on the that side. Maybe the 1,40 levels can be target for the upmovesand 1,3845 levels can be tought if price continue its way thorugh the south.

USDCHF SHORT TRADE OPPORTUNITY

With bearish ichimoku overlook and below the 20 SMA the price form of Evening Doji Star occured. The movement through the 0,87 is probable. Nice to try.

GBPJPY SHORT SIGNAL

Manually closed. +42 pips

In opposition of EURJPY I am with JPY over the GBP. GBP is also weak and some reversal signal around the 0,236 Fibo level. There is a Dark Cloud Cover and shooting star and 20 SMA hold this price action. Possible down movement is possible.

JPY IS WEAK AFTER CRIMEA - EURJPY LONG

JPY weaken after the latest Russia-Crimea-EU triangle today. Price broke the 100 day EMA and ichi cloud from the down. Upmove can continue.

AUDUSD IS IN A TRIANGLE WITH BEARISH MOMENTUM

-44 pips.

Around the 0.9070 levels hammer, doji and strong bearish candle that confirmed the reversal move occured. After that price entered the cloud. Bearish momentum is strong. Next target is 0,89677.

GBPCHF LOOKS BULLISH ON ONE HOUR CHART - BUY SIGNAL

-42 pips

Big bullish engulfing bar occured and price is above the tenkan-kijun cross. Next move can be possible to the 1,45815

STRONG BEARISH MOVEMENT CAN CONTINUE ON EURJPY - SHORT SIGNAL

-49 pips

Price break the Tenkan and Kijun line with strong momentum and now it is below the cloud. Next pivot level S1 is the target to take profit.

NZDJPY SEEMS STRONG ENOUGH TO GET 20 PIPS

+19 pips

NZD has strength and over JPY there are some signs to get 20 pips around. Morning star (Bullis Reversal) occured inside the cloud. And then price break the Tenkan, Kijun lines and cloud. Next support can give us profit.

REVERSAL CANDLESTICK SIGNS NEAR THE FIB SUPPORT GBPJPY

+48 pips

With the sign of hammer and doji near the ichi cloud boundary and also fib support 0,618, retracement to the 171.20 level can bring us 50 pips.

USDCAD Is Turning From Tenkan-Sen

-32 pips

A good pin bar setup occured on Tenkan-Sen over the ichi cloud. Tenkan-Kijun cross from ichimoku looks strong bullish on 4H chart. Next resistence is the target. If the price is break it, 1,119 levels are possible. SL: 1,10855 TP: 1,11445

GBPJPY 2H SETUP LOOKS BEARISH - SHORT

Hit the take profit. +55 pips.

Inside the ichi cloud there is a bearish engulfing bar and then bearish momentum is going on. Price also break the lower clound boundary below the tenkan-kijun bearish cross. 50-60 pips gain seems possible.

AUDUSD'S NEXT TARGET IS SUPPORT 1 - SHORT

Hit the take profit. +40 pips.

Price break the wedge formation on 4H chart. Tenkan - Kijun cross happend over the ichi cloud but bears are strong. Therefore the expectations of continuous bearish move is logical.

USDJPY CAN TEST PREVIOUS RESISTENCE AS SUPPORT - SHORT

Hit the take profit. +25 pips.

The downward movement after breaking the Tenkan Line thorugh the 102.639 area. After touching it we will looking forward a reversal sign or if it break price can continue to the cloud.

CAD Looks Strong For The Beginning Of Week Over GBP

Edit: Hit the take profit targets.

Like USDCAD pair GBPCAD has a similar formation. The hanging man with high volume appeared and it is on the upper ichi cloud boundary. Short term movement is bearis. Another downward move can be possible Resistence 2 and after that Pivot Level.

Stop Loss level is 1,86. First take profit target is Resistence 2 and second target is Pivot Level. When you click the screenshot you can see on wide screen.

1345-1350 Level Can Be Tested Again On Gold ( XAUUSD ) Prices // Buy Signal

Edit: Price has reached 1350 levels

The penultimate bar is a hammer on an uptrend during the retracement. Bears wanted to take the control but they failed. With relatively huge volume price closed higher then openning. There is a recent uptrend which Ichi cloud boundary support the price. Another test is possible.

Stop loss level is 1330$ and take profit target is 1345$.

Market can open with gap with higher levels. If so, pending the next price action will be logical.

USDCAD Can Start the Week with Bearish Movement // Short Signal

Edit: CAD didn't get the strength.

In 4 hour chart,

1. Price is on a downtrend in near term.
2. Hanging man ( On the chart mistakenly hammer was written by me ) occured near the upper line of Ichi Cloud with higher volume. Therefore it is a possible reversal signal.

1,1120 level can be stop loss point. There are 2 take profit targets: One of it is Resistence 2 and after that if price will break the first target, Pivot Level will be the next target which is around 1,099 can be possible.

Common Candlestick Patterns on Forex: Engulfing Bars

I will write about candlestick patterns and examples on this blog because these are very useful and effective concepts. The success rate is high because I and some other price action traders can tell that the price contains the enough information for trading decision. However, the tools should use with other indicators or support/resistence level or any other analysis tool to suppourt the decisions. Today I want to write most common and known candlestick pattern that called engulfing bars.

It is easy to determine that there are two engulfing pattern. These are bearish and bullish engulfing patterns. Below the pictures that define these bars. The easy definiton is the second bar completely engulf the previous bar, if the second bar bearish it is called bearish and vice versa. In the below picture, black bar is bullish bar and white bar is bearish bar.



To use this bars some key criterions should be observed if a strong signal is wanted. My personal look at these bars are like that:

1- In retracement levels with trend direction.

2- Key support and resistence levels for the reversal signals are very important. Bearish engulfing bars on resistence levels and bullish engulfing bars on support levels are stronger.

3- Volume indicators can give very good signals. If the engulfing bar occur with the higher volume, the reversal pattern can be seen more probably.

Here is an example that bearish engulfing bar:

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GBPCHF - 4H SETUP - 05.03.2014 - SHORT

GBPCHF - 4H Setup - 05.03.2014 by MoneyTalks58 on TradingView.com

Market was indecisive on previous bar with long legged doji. After that bears took the control around the upper ichi cloud boundary. Stoch is on overbought area and cross over the top. A retracemen is possible.

4 of a Kind: Russia - Ukraine - USA - EU

We all know the Ukranian-Russia crisis. Although today Putin declare told about optimistic things to decrease tension, the general opinions are on the tension won't be over in short term. Today first bullet sounds occured between the Russian and Ukranian army. The rumors about military interventions continue. Yesterday we observed high raises over commodity prices as Ukraine is a big corn and wheat. Also this is obviously seen that gold, gas, wti prices are increased. Today was optimistic and so we saw retracements on these prices and records on SP500.

As Ukraine and Crimea are very important for Russia that geographically strategical, Putin's words can't be understood very optimistic. Therefore tensions can make commodity prices higher and on medium term negative impacts can be expected unless there won't be peaceful days are coming.

Will there be any enforcement during the UN and NATO meetings? We are going to wait espacially NATO countries attidutes. Probably the more volatile days are waiting us. I hope democracy and peace will win.

GBPJPY - DAILY SETUP - 03.03.2014

GBPJPY - Daily Setup - 03.03.2014 by MoneyTalks58 on TradingView.com

There is a hangin man candlestick pattern on 27.02.2014. It is below the ichi cloud. After that price deeply enter the cloud. Short movement can be possible. Momentum is also below zero level. I will try it.

NZDUSD - DAILY SETUP - 03.03.2014 - Short Signal

NZDUSD - Daily Setup - 03.03.2014 by MoneyTalks58 on TradingView.com

NZDUSD is around the previous resistence levels. Prior 2 pinbar was the sign of bearish movement and now we again see a pin bar with RSI and Stochastic also support previous bearish price action again. USD can gain momentum against this commodity currency.

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XAUUSD - 1H Setup - 02.04.2014 - Short

Edit: Cancelled. Market opened with huge gap.

Large pin bar with high volume. Bulls couldn't win the game near the prior weeks closing time.The down movement can continue to 1323 level.

USDCHF - DAILY SETUP - 01.03.2014

USDCHF - Daily Setup - 01.03.2014 by MoneyTalks58 on TradingView.com

Price broke the strong support and wedge formation. It is possible to see a movement thorugh the 0.86 level. MACD and CCI support. Nice to try.

EURUSD - Daily Setup - 01.03.2014

EURUSD - Daily Setup - 01.03.2014 by MoneyTalks58 on TradingView.com

Hit the take profit. +30 pips.

EURUSD showed a bullish momentum but now we can expect a retracement for short term and take some 40-50 pips. Worth to try.