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Oct 22 15:21 GMT

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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 Update: USD/CHF - Stand aside Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Oct 22 14 13:47 GMT

The greenback has continued to move higher after breaking resistance at 0.9491, dampening our bearishness and near term upside risk is seen for gain to 0.9530-35, however, only break of resistance at 0.9563 would suggest recent decline from 0.9690 top has ended at 0.9360 last week and bring further gain towards another previous resistance at 0.9593 which is likely to hold from here.

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Trade Idea Update: GBP/USD - Stand aside Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Oct 22 14 13:44 GMT

Cable's intra-day selloff confirms top has been formed at 1.6184 yesterday and near term downside risk remains for weakness to 1.5993-00 (61.8% Fibonacci retracement of 1.5875-1.6184) cannot be ruled out, however, reckon support at 1.5941 would hold from here. Looking ahead, only break of this support would signal correction from last week's low of 1.5875 has ended and bring further weakness towards 1.5900-10.

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Trade Idea Update: EUR/USD - Stand aside Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Oct 22 14 13:40 GMT

Although yesterday's fall from 1.2840 suggests near term downside risk remains for weakness towards 1.2650, as broad outlook is still consolidative, reckon downside would be limited and price should stay well above 1.2625, bring further choppy trading later. Only a drop below support at 1.2605 would turn outlook bearish and signal the rise from 1.2501 (this month's low) has ended and extend weakness to 1.2570-75 first.

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Trade Idea Update: USD/JPY - Hold long entered at 106.40 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Oct 22 14 13:38 GMT

As the greenback has staged a rebound after finding support at 106.25 yesterday, retaining our bullishness and consolidation with upside bias remains for gain to 107.39, then towards previous resistance at 107.50, however, only break of this resistance would add credence to our view, bring at least a retracement of recent decline to 107.85-90 but reckon resistance at 108.18 would hold from here.

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Trade Idea Update: USD/CHF - Stand aside Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Oct 22 14 10:37 GMT

The greenback has continued to move higher after breaking resistance at 0.9491, dampening our bearishness and near term upside risk is seen for gain to 0.9530-35, however, only break of resistance at 0.9563 would suggest recent decline from 0.9690 top has ended at 0.9360 last week and bring further gain towards another previous resistance at 0.9593 which is likely to hold from here.

Read more...
 
Trade Idea Update: GBP/USD - Exit long entered at 1.6035 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Oct 22 14 10:29 GMT

Cable's intra-day selloff confirms top has been formed at 1.6184 yesterday and near term downside risk remains for weakness to 1.5993-00 (61.8% Fibonacci retracement of 1.5875-1.6184) cannot be ruled out, however, reckon support at 1.5941 would hold from here. Looking ahead, only break of this support would signal correction from last week's low of 1.5875 has ended and bring further weakness towards 1.5900-10.

Read more...
 
Trade Idea Update: EUR/USD - Stand aside Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Oct 22 14 10:21 GMT

Although yesterday's fall from 1.2840 suggests near term downside risk remains for weakness to 1.2670-75, as broad outlook is still consolidative, reckon downside would be limited to 1.2640-50 and price should stay well above 1.2625, bring further choppy trading later. Only a drop below support at 1.2605 would turn outlook bearish and signal the rise from 1.2501 (this month's low) has ended and extend weakness to 1.2570-75 first.

Read more...
 
Trade Idea Update: USD/JPY - Hold long entered at 106.40 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Oct 22 14 10:19 GMT

As the greenback has staged a rebound after finding support at 106.25 yesterday, retaining our bullishness and consolidation with upside bias remains for test of 107.00-05, above there would signal the retreat from 107.39 has ended there, bring test of this level. Looking ahead, only break of resistance at 107.50 would add credence to our view, bring at least a retracement of recent decline to 107.85-90 but reckon resistance at 108.18 would hold

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Trade Idea : USD/CHF - Hold short entered at 0.9480 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Oct 22 14 07:54 GMT

Although the greenback has edged higher again, as outlook is still consolidative, reckon upside would be limited to 0.9500 and bring retreat later to the Kijun-Sen (now at 0.9449), below there would suggest top is possibly formed, then test of the lower Kumo (now at 0.9433) would follow but only a drop below indicated support at 0.9396 would signal recent decline from 0.9690 top has resumed for retest of 0.9360 (last week's low)

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Trade Idea: GBP/USD - Buy at 1.6035 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Oct 22 14 07:44 GMT

Cable's retreat after yesterday's rise to 1.6184 suggests a temporary top has been formed there and consolidation below this level is seen with mild downside bias for retracement to 1.6060, however, reckon support at 1.6030 (just above 50% Fibonacci retracement of 1.5875-1.6184 at 1.6029) would limit downside and bring another rise later. Above the upper Kumo (now at 1.6150) would signal the pullback from 1.6184 has ended and bring retest of this level

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Trade Idea: EUR/USD - Stand aside Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Oct 22 14 07:30 GMT

Although yesterday's fall from 1.2840 suggests near term downside risk remains for weakness to 1.2670-75, as broad outlook is still consolidative, reckon downside would be limited to 1.2640-50 and price should stay well above 1.2625, bring further choppy trading later. Only a drop below support at 1.2605 would turn outlook bearish and signal the rise from 1.2501 (this month's low) has ended and extend weakness to 1.2570-75 first.

Read more...
 
Trade Idea: USD/JPY - Hold long entered at 106.40 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Oct 22 14 07:24 GMT

As the greenback has staged a rebound after finding support at 106.25 yesterday, retaining our bullishness and consolidation with upside bias remains for test of 107.00-05, above there would signal the retreat from 107.39 has ended there, bring test of this level. Looking ahead, only break of resistance at 107.50 would add credence to our view, bring at least a retracement of recent decline to 107.85-90 but reckon resistance at 108.18 would hold

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Trade Idea Wrap-up: USD/CHF - Hold short entered at 0.9480 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Oct 21 14 15:42 GMT

The greenback has rebounded after holding above minor support at 0.9396, retaining our view that further consolidation would be seen, however, still reckon resistance at 0.9491 would limit upside and bring another fall, break of said support at 0.9396 would signal recent decline from 0.9690 top has resumed for retest of 0.9360 (last week's low), break there would confirm this view and extend weakness to another previous support at 0.9353

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Trade Idea Wrap-up: GBP/USD - Buy at 1.6060 or sell at 1.6220 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Oct 21 14 15:34 GMT

Although cable has retreated after intra-day rise to 1.6184 and consolidation below this level is seen with mild downside bias for test of the upper Kumo (now at 1.6111), reckon the lower Kumo (now at 1.6059) would limit downside and bring another rise later. Above said resistance at 1.6184 would extend the rise from last week's low of 1.5875 to 1.6200 but loss of momentum would cap price below resistance at 1.6227, bring retreat later.

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Trade Idea Wrap-up: EUR/USD - Stand aside Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Oct 21 14 15:28 GMT

Despite intra-day initial rebound to 1.2840, as the single currency has retreated after faltering below indicated resistance at 1.2845-50, retaining our view that further consolidation within near term established range would be seen and the breach of yesterday's low at 1.2731 suggests near term downside risk remains for weakness towards support at 1.2706, however, reckon downside would be limited to 1.2640-50

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Trade Idea Wrap-up: USD/JPY - Hold long entered at 106.40 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Oct 21 14 15:23 GMT

The greenback found support at 106.25 and has rebounded, retaining our bullishness and consolidation with upside bias is seen for test of 107.00-05, above there would signal the retreat from yesterday's high of 107.39 has ended there, bring test of this level. Looking ahead, only break of resistance at 107.50 would add credence to our view, bring at least a retracement of recent decline to 107.85-90

Read more...
 
Trade Idea Update: USD/CHF - Sell at 0.9480 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Oct 21 14 13:37 GMT

The greenback has rebounded after holding above minor support at 0.9396, retaining our view that further consolidation would be seen, however, still reckon resistance at 0.9491 would limit upside and bring another fall, break of said support would signal recent decline from 0.9690 top has resumed for retest of 0.9360 (last week's low), break there would confirm this view and extend weakness to another previous support at 0.9353, then 0.9325-30

Read more...
 
Trade Idea Update: GBP/USD - Buy at 1.6060 or sell at 1.6220 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Oct 21 14 13:34 GMT

Although cable has risen again today, loss of near term upward momentum should prevent sharp move beyond 1.6190-00 and bring retreat later, below the Kijun-Sen (now at 1.6132) would bring test of yesterday's low at 1.6080, however, reckon 1.6030-34 (previous support and current level of the Ichimoku cloud bottom) would contain downside and bring another rally later.

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Trade Idea Update: EUR/USD - Stand aside Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Oct 21 14 13:32 GMT

Despite intra-day rebound to 1.2840, as the single currency has retreated after faltering below indicated resistance at 1.2845-50, retaining our view that further consolidation within near term established range would be seen and weakness to yesterday's low of 1.2731 cannot be ruled out, however, reckon support at 1.2706 would limit downside and 1.2640-50 would hold.

Read more...
 
Trade Idea Update: USD/JPY - Hold long entered at 106.40 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Oct 21 14 13:31 GMT

Although the greenback slipped again after meeting renewed selling interest just above 107.00 level, if our view that low has been formed at 105.20 last week is correct, downside should be limited and 106.10-15 should hold, bring another rebound later, above 107.00-05 would signal the retreat from yesterday's high of 107.39 has ended, bring test of this level. Looking ahead, only break of resistance at 107.50 would add credence to our view, bring at least a retracement of recent decline to 107.85-90

Read more...
 
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Advanced Candlesticks and Ichimoku Strategies for Forex Trading

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