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Candlesticks and Ichimoku Intraday Trade Ideas

Candlesticks and the Ichimoku Kinko Hyo, when combined with traditional technical analysis methods, for example, trend analysis, pattern recognition and Fibonacci retracements and projections, work amazingly well in forecasting the market movements, especially in very volatile market conditions.

  • The intraday trade ideas section provides trading strategies for traders to profit from fast moving markets.
  • The weekly analysis section provides analysis from a short to medium time frame for position traders.

Candlesticks Intraday Trade Ideas Update Schedule:

  • 1st Update: 0630 - 0700 GMT
  • 2nd Update: 0930 - 1000 GMT
  • 3rd Update: 1230 - 1300 GMT
  • 4th Update: 1500 - 1530 GMT
  • Pairs Covered: EUR/USD, USD/JPY, GBP/USD, USD/CHF


Trade Idea Wrap-up: USD/CHF - Stand aside Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Dec 16 14 16:03 GMT

Despite intra-day selloff to 0.9553, as the greenback found support there and has recovered, suggesting consolidation above this level would be seen and test of the Kijun-Sen (now at 0.9614) cannot be ruled out, however, reckon the lower Kumo (now at 0.9649) would limit upside and bring another decline later. A break of said support at 0.9553 would extend recent decline from 0.9818 top to support at 0.9531

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Trade Idea Wrap-up: GBP/USD - Stand aside Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Dec 16 14 16:00 GMT

Cable's rally from 1.5602 turned out to be much stronger than expected and the intra-day breach of resistance at 1.5747-57 signals another leg of rise from 1.5541 low is under way and further gain to 1.5790-00 cannot be ruled out, however, reckon upside would be limited to 1.5818-26 (100% projection of 1.5541-1.5757 measuring from 1.5602 and previous resistance) and near term overbought condition should cap price at 1.5850-60.

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Trade Idea Wrap-up: EUR/USD - Stand aside Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Dec 16 14 15:57 GMT

As the single currency has eased after intra-day rise to 1.2570, suggesting consolidation would be seen and pullback to the Kijun-Sen (now at 1.2493) cannot be ruled out, however, reckon 1.2460-65 would limit downside and bring another rise later, above said resistance at 1.2570 would extend recent rise from 1.2247 low for a stronger retracement of early decline to 1.2590-00 but near term overbought condition should cap price at 1.2625-35.

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Trade Idea Wrap-up: USD/JPY - Stand aside Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Dec 16 14 15:54 GMT

As the greenback has recovered after intra-day selloff to 115.57, suggesting minor consolidation would be seen and recovery to the Kijun-Sen (now at 117.20) cannot be ruled out, however, reckon previous support at 117.44 would limit upside and price should falter well below another previous support at 117.78, bring another decline later. Below 116.00 would bring retest of said support at 115.57, break there would extend recent selloff from 121.85 top to 115.30-35

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Trade Idea Update: USD/CHF - Stand aside Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Dec 16 14 13:52 GMT

Despite intra-day selloff to 0.9553, as the greenback found support there and has recovered, suggesting consolidation above this level would be seen and test of the Kijun-Sen (now at 0.9614) cannot be ruled out, however, reckon the lower Kumo (now at 0.9649) would limit upside and bring another decline later. A break of said support at 0.9553 would extend recent decline from 0.9818 top to support at 0.9531

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Trade Idea Update: GBP/USD - Stand aside Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Dec 16 14 13:48 GMT

Cable's rally from 1.5602 turned out to be much stronger than expected and the breach of resistance at 1.5747-57 signals another leg of rise from 1.5541 low is under way and further gain to 1.5790-00 cannot be ruled out, however, reckon upside would be limited to 1.5818-26 (100% projection of 1.5541-1.5757 measuring from 1.5602 and previous resistance) and near term overbought condition should cap price at 1.5850-60.

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Trade Idea Update: EUR/USD - Buy at 1.2465 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Dec 16 14 13:41 GMT

As the single currency has eased after intra-day rise to 1.2570, suggesting consolidation would be seen and pullback to the Kijun-Sen (now at 1.2493) cannot be ruled out, however, reckon 1.2460-65 would limit downside and bring another rise later, above said resistance at 1.2570 would extend recent rise from 1.2247 low for a stronger retracement of early decline to 1.2590-00 but near term overbought condition should cap price at 1.2625-35.

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Trade Idea Update: USD/JPY - Sell at 117.25 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Dec 16 14 13:37 GMT

As the greenback has recovered after intra-day selloff to 115.57, suggesting minor consolidation would be seen and recovery to 116.80-85 cannot be ruled out, however, reckon the Kijun-Sen (now at 117.28) would limit upside and bring another decline later. A break of said support at 115.57 would extend recent selloff from 121.85 top to 115.30-35, however, near term oversold condition should prevent sharp fall below 115.00

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Trade Idea Update: USD/CHF - Stand aside Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Dec 16 14 09:51 GMT

The greenback has fallen again after brief recovery, suggesting the decline from 0.9818 top is still in progress and weakness to 0.9570-75 cannot be ruled out, however, loss of downward momentum should prevent sharp fall below 0.9550 and reckon support at 0.9531 would limit downside, risk from there is seen for a strong rebound to take place later.

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Trade Idea Update: GBP/USD - Sell at 1.5720 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Dec 16 14 09:47 GMT

Although the British pound has rebounded after finding support at 1.5602 and near term upside risk is seen for test of the lower Kumo (now at 1.5700), reckon the upper Kumo (now at 1.5723) would limit upside and bring another decline later, a break of said support at 1.5602 would add credence to our view that the rebound from 1.5541 (last week's low) has ended at 1.5757, bring weakness to 1.5575-80

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Trade Idea Update: EUR/USD - Buuy at 1.2465 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Dec 16 14 09:44 GMT

As the single currency has surged again on dollar's broad-based weakness, current breach of indicated resistance at 1.2495-1.2507 confirms recent rise from 1.2247 low has resumed and upside bias is seen for this move to bring retracement of recent decline to previous resistance at 1.2532, then 1.2550-60 but price should falter below 1.2590-00 due to near term overbought condition.

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Trade Idea Update: USD/JPY - Sell at 117.40 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Dec 16 14 09:39 GMT

As the greenback has dropped again on active cross-buying in yen, suggesting the decline from 121.85 top is still in progress and bearishness remains for this decline to extend further weakness to 116.00, however, near term oversold condition should prevent sharp fall below 115.75-80 and reckon 115.50 would hold from here, bring rebound later.

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Trade Idea : USD/CHF - Stand aside Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Dec 16 14 07:47 GMT

The greenback has continued to trade narrowly after finding support at 0.9618, suggesting further sideways trading would be seen and recovery to 0.9680-85 cannot be ruled out, however, break of 0.9700 is needed to suggest low has possibly been formed, bring test of indicated resistance at 0.9723, above there would add credence to this view and signal the fall from 0.9818 has ended and bring a stronger rebound to 0.9750 later.

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Trade Idea : GBP/USD - Sell at 1.5700 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Dec 16 14 07:43 GMT

Although the British pound has rebounded after finding support at 1.5602 and near term upside risk is seen for test of the Kijun-Sen (now at 1.5675), reckon the lower Kumo (now at 1.5700) would limit upside and bring another decline later, a break of said support at 1.5602 would add credence to our view that the rebound from 1.5541 (last week's low) has ended at 1.5757, bring weakness to 1.5575-80

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Trade Idea: EUR/USD - Stand aside Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Dec 16 14 07:37 GMT

The single currency has remained confined within recent established range and further choppy trading is in store, although gain to 1.2480-85 cannot be ruled out, break of indicated resistance area at 1.2495-1.2507 is needed to revive near term bullishness for the rise from 1.2247 low to bring retracement of early decline to previous resistance at 1.2532, then 1.2550-60 which is likely to hold on first testing.

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Trade Idea: USD/JPY - Stand aside Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Dec 16 14 07:26 GMT

As the greenback has remained under pressure after breaking below support at 117.44, suggesting recent decline from 121.85 top is still in progress and may extend further weakness to 117.00, however, loss of near term downward momentum should prevent sharp fall below 116.75-80 and reckon 116.50-55 would hold from here, risk from there is seen for a rebound later.

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Trade Idea Wrap-up: USD/CHF - Stand aside Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Dec 15 14 15:46 GMT

As the greenback has rebounded after marginal fall to 0.9618, retaining our view that further consolidation above this level would be seen and another corrective bounce to 0.9680-85 and then 0.9700 cannot be ruled out, however, a break of indicated resistance at 0.9723 is needed to signal the fall from 0.9818 has ended and bring a stronger rebound to 0.9750 later.

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Trade Idea Wrap-up: GBP/USD - Sell at 1.5700 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Dec 15 14 15:32 GMT

As the British pound met renewed selling interest just below last week's high of 1.5757 and has dropped again, suggesting further consolidation below this level would be seen with downside bias for weakness to 1.5600 and possibly towards 1.5575-80, however, as broad outlook is consolidative, reckon downside would be limited and support at 1.5541 (last week's low) would hold.

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Trade Idea Wrap-up: EUR/USD - Stand aside Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Dec 15 14 15:28 GMT

As the single currency has slipped again after intra-day brief bounce to 1.2473, retaining our view that further consolidation below resistance at 1.2495 is in store and weakness to 1.2400-10 cannot be ruled out, however, only break of support at 1.2362 would signal top has been formed, bring retracement of the rise from recent low at 1.2247 to 1.2344, then 1.2310 but support at 1.2292 should remain intact.

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Trade Idea Wrap-up: USD/JPY - Stand aside Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Dec 15 14 15:22 GMT

As the greenback has rebounded after finding support at 117.78 earlier today, retaining our view that further consolidation would be seen and another bounce to 119.08 (Friday's high) cannot be ruled out, break there would prolong sideways trading above last week's low at 117.44 and bring test of 119.60-65 (50% Fibonacci retracement of 121.85-117.44), above there would bring retracement of recent decline to resistance at 119.92

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Advanced Candlesticks and Ichimoku Strategies for Forex Trading

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