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Sep 01 03:53 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 Wrap-up: USD/CHF - Sell at 0.9730 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Aug 31 15 16:42 GMT

Although the greenback has risen again and near term upside bias remains for the rise from 0.9259 (last week's low) to extend gain to 0.9720-25 (50% projection of 0.9384-0.9673 measuring from 0.9579), however, loss of upward momentum should prevent sharp move beyond 0.9755-60 (61.8% projection), risk from there is seen for a retreat to take place later. Below 0.9630-35 would bring test of the upper Kumo (now at 0.9618), break there would suggest an intra-day top is formed

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Trade Idea Wrap-up: GBP/USD - Hold long entered at 1.5370 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Aug 31 15 16:32 GMT

Cable has retreated again in NY morning and has remained under pressure, suggesting caution on our long position entered at 1.5370 and support at 1.5335 (Friday's low) needs to hold and bring another rebound, above 1.5400 would bring test of resistance at 1.5443, break there would suggest low has possibly been formed there, bring retracement of recent decline to 1.5480-85

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Trade Idea Wrap-up: EUR/USD - Hold long entered at 1.1190 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Aug 31 15 16:05 GMT

As intra-day retreat from 1.1244 has kept euro under pressure, suggesting marginal weakness from here cannot be ruled out, however, as long as Friday's low at 1.1156 holds, prospect of another rebound remains, above said resistance would bring test of 1.1260-65, break there would bring retracement of last week's selloff to 1.1310 (Friday's high and 38.2% Fibonacci retracement of 1.1562-1.1156)

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Trade Idea Wrap-up: USD/JPY - Buy at 120.50 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Aug 31 15 15:52 GMT

Dollar's near term sideways trading is likely to continue and although initial downside risk remains for pullback to the upper Kumo (now at 120.89), reckon support at 120.51 would limit downside and bring another rise later, above 121.75-80 (said resistance and 61.8% Fibonacci retracement of 12.28-116.16) would extend the rise from last week's low of 116.16 to 122.00-10 and possibly 122.45-50

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Trade Idea Update: USD/CHF - Buy at 0.9515 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Aug 31 15 13:43 GMT

Dollar's near term sideways trading is likely to continue and as long as last week's high at 0.9673 holds, risk of another retreat cannot be ruled out, below 0.9575-80 would bring correction towards the lower Kumo (now at 0.9541), however, reckon support at 0.9514 would limit downside and bring another rise later, above said resistance at 0.9673 would extend the rise from last week's low of 0.9259 to 0.9690

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Trade Idea Update: GBP/USD - Buy at 1.5370 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Aug 31 15 13:40 GMT

Although the British pound fell again to as low as 1.5335 on Friday, the subsequent rebound suggests consolidation above this level would be seen and above resistance at 1.5443 would suggests low has possibly been formed there, bring retracement of recent decline to 1.5480-85 (38.2% Fibonacci retracement of 1.5720-1.5335) but reckon resistance at 1.5509 would limit upside, bring another decline

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Trade Idea Update: EUR/USD - Buy at 1.1190 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Aug 31 15 13:38 GMT

Although the single currency has retreated after faltering below the lower Kumo and minor consolidation would be seen with initial downside risk, as long as Friday's low at 1.1156 holds, prospect of another rebound remains, above 1.1260-65 would bring retracement of last week's selloff to 1.1310 (Friday's high and 38.2% Fibonacci retracement of 1.1562-1.1156), however, reckon 1.1359-64 (50% Fibonacci retracement and another previous resistance) would limit upside

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Trade Idea Update: USD/JPY - Buy at 120.50 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Aug 31 15 13:35 GMT

As the greenback has retreated after rising to 121.75 on Friday, minor consolidation below this level would be seen and pullback to the upper Kumo (now at 120.84) cannot be ruled out, however, reckon support at 120.51 would limit downside and bring another rise later, above 121.75-80 (said resistance and 61.8% Fibonacci retracement of 12.28-116.16) would extend the rise from last week's low of 116.16 to 122.00-10 and possibly 122.45-50

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Trade Idea Update: USD/CHF - Buy at 0.9515 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Aug 31 15 10:59 GMT

Dollar's near term sideways trading is likely to continue and as long as last week's high at 0.9673 holds, risk of another retreat cannot be ruled out, below 0.9575-80 would bring correction towards the lower Kumo (now at 0.9541), however, reckon support at 0.9514 would limit downside and bring another rise later, above said resistance at 0.9673 would extend the rise from last week's low of 0.9259 to 0.9690

Read more...
 
Trade Idea Update: GBP/USD - Buy at 1.5370 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Aug 31 15 10:58 GMT

Although the British pound fell again to as low as 1.5335 on Friday, the subsequent rebound suggests consolidation above this level would be seen and above resistance at 1.5443 would suggests low has possibly been formed there, bring retracement of recent decline to 1.5480-85 (38.2% Fibonacci retracement of 1.5720-1.5335) but reckon resistance at 1.5509 would limit upside, bring another decline

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Trade Idea Update: EUR/USD - Buy at 1.1190 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Aug 31 15 10:56 GMT

Although the single currency has retreated after faltering below the lower Kumo and minor consolidation would be seen with initial downside risk, as long as Friday's low at 1.1156 holds, prospect of another rebound remains, above 1.1260-65 would bring retracement of last week's selloff to 1.1310 (Friday's high and 38.2% Fibonacci retracement of 1.1562-1.1156)

Read more...
 
Trade Idea Update: USD/JPY - Buy at 120.50 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Aug 31 15 10:54 GMT

As the greenback has retreated after rising to 121.75 on Friday, minor consolidation below this level would be seen and pullback to the upper Kumo (now at 120.84) cannot be ruled out, however, reckon support at 120.51 would limit downside and bring another rise later, above 121.75-80 (said resistance and 61.8% Fibonacci retracement of 12.28-116.16) would extend the rise from last week's low of 116.16 to 122.00-10 and possibly 122.45-50

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Trade Idea : USD/CHF - Buy at 0.9515 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Aug 31 15 08:38 GMT

Dollar's near term sideways trading is likely to continue and as long as last week's high at 0.9673 holds, risk of another retreat cannot be ruled out, below 0.9575-80 would bring correction towards the lower Kumo (now at 0.9541), however, reckon support at 0.9514 would limit downside and bring another rise later, above said resistance at 0.9673 would extend the rise from last week's low of 0.9259 to 0.9690

Read more...
 
Trade Idea: GBP/USD - Buy at 1.5370 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Aug 31 15 08:29 GMT

Although the British pound fell again to as low as 1.5335 on Friday, the subsequent rebound suggests consolidation above this level would be seen and above resistance at 1.5443 would suggests low has possibly been formed there, bring retracement of recent decline to 1.5480-85 (38.2% Fibonacci retracement of 1.5720-1.5335) but reckon resistance at 1.5509 would limit upside, bring another decline later.

Read more...
 
Trade Idea : EUR/USD - Buy at 1.1190 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Aug 31 15 08:17 GMT

Although the single currency has retreated after faltering below the lower Kumo and minor consolidation would be seen with initial downside risk, as long as Friday's low at 1.1156 holds, prospect of another rebound remains, above 1.1260-65 would bring retracement of last week's selloff to 1.1310 (Friday's high and 38.2% Fibonacci retracement of 1.1562-1.1156), however, reckon 1.1359-64 (50% Fibonacci retracement and another previous resistance) would limit upside

Read more...
 
Trade Idea: USD/JPY - Buy at 120.50 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Aug 31 15 08:01 GMT

As the greenback has retreated after rising to 121.75 on Friday, minor consolidation below this level would be seen and pullback to the upper Kumo (now at 120.84) cannot be ruled out, however, reckon support at 120.51 would limit downside and bring another rise later, above 121.75-80 (said resistance and 61.8% Fibonacci retracement of 12.28-116.16) would extend the rise from last week's low of 116.16 to 122.00-10 and possibly 122.45-50

Read more...
 
Trade Idea Wrap-up: USD/CHF - Buy at 0.9515 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Aug 28 15 15:37 GMT

Dollar's retreat after rising to 0.9673 yesterday suggests minor consolidation below this level would be seen and pullback to previous resistance at 0.9553 (now support) cannot be ruled out, however, reckon support at 0.9514 would contain downside and bring another rise later, above said resistance at 0.9673 would extend the upmove from 0.9259 low to 0.9690

Read more...
 
Trade Idea Wrap-up: GBP/USD - Stand aside Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Aug 28 15 15:33 GMT

Although the British pound has fallen again after meeting renewed selling interest at 1.5443 and near term downside risk remains for recent decline to extend one more fall to previous support at 1.5330, break there would bring weakness towards 1.5300, however, loss of downward momentum should prevent sharp fall below 1.5265-70 (50% projection of 1.5720-1.5370 measuring from 1.5443) today

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Trade Idea Wrap-up: EUR/USD - Sell at 1.1370 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Aug 28 15 15:28 GMT

As the single currency has retreated again after meeting resistance at 1.1310, suggesting retest of yesterday's low at 1.1203 would be seen, break there would extend the decline from 1.1714 top to 1.1169-79 (1.236 times projection of 1.1714-1.1396 measuring from 1.1562 and 61.8% Fibonacci retracement of 1.0848-1.1714), then 1.1145-50 but reckon 1.1107 support would hold from here.

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Trade Idea Wrap-up: USD/JPY - Stand aside Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Aug 28 15 15:22 GMT

As the greenback has remained confined within narrow range and further sideways trading is in store, near term upside risk remains for the rise from 116.16 (this week's low) to extend gain to 120.75-80, however, reckon upside would be limited to 121.07-10 (61.8% projection of 116.16-120.40 measuring from 118.45 and 61.8% Fibonacci retracement of 124.16-116.16) and 121.50-60 should hold from here

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Advanced Candlesticks and Ichimoku Strategies for Forex Trading

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