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Oct 02 12:26 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 - Buy at 0.9500 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Oct 02 14 10:08 GMT

Although dollar has rebounded after finding support at 0.9526, break of this week's high at 0.9597 is needed to signal recent upmove from 0.8699 low has resumed and extend further gain to 0.9600-10, then 0.9630, however, overbought condition should limit upside to 0.9650-60 and price should falter below 0.9675-80, risk from there is seen for a retreat to take place later. If said resistance continues to hold, then further consolidation is in store

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Trade Idea Update: GBP/USD - Sell at 1.6250 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Oct 02 14 10:06 GMT

As the British pound has remained under pressure and broke below support at 1.6162, adding credence to our view that rebound from 1.6052 has ended at 1.6525 and bearishness remains for the decline from 1.6525 to extend weakness to 1.6125-30 and possibly towards 1.6100, however, loss of near term momentum should prevent sharp fall below latter level and price should stay above said support at 1.6052.

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Trade Idea Update: EUR/USD - Sell at 1.2715 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Oct 02 14 10:01 GMT

Although the single currency has retreated after intra-day rebound to 1.2674, break of this week's low at 1.2571 is needed to signal recent decline and extend weakness to 1.2550, then 1.2515-20, however, oversold condition should limit downside to 1.2490-00 and reckon 1.2440-50 would contain downside. If said support continues to hold, then further consolidation would be seen and another corrective bounce to 1.2697-1.2702

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Trade Idea Update: USD/JPY - Stand aside Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Oct 02 14 09:59 GMT

As the greenback dropped again after this week's sharp retreat from 110.09, adding credence to ou r view that a temporary top has possibly been formed there, hence consolidation with mild downside bias is seen for test of support at 108.25, however, break there is needed to provide confirmation, bring retracement of recent upmove to 108.00 which is likely to hold on first testing due to oversold condition.

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Trade Idea : USD/CHF - Buy at 0.9500 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Oct 02 14 07:47 GMT

Although dollar has rebounded after finding support at 0.9526, break of this week's high at 0.9597 is needed to signal recent upmove from 0.8699 low has resumed and extend further gain to 0.9600-10, then 0.9630, however, overbought condition should limit upside to 0.9650-60 and price should falter below 0.9675-80, risk from there is seen for a retreat to take place later. If said resistance continues to hold, then further consolidation is in store

Read more...
 
Trade Idea: GBP/USD - Sell at 1.6285 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Oct 02 14 07:43 GMT

As the British pound has remained under pressure, suggesting recent decline may resume after consolidation, break of yesterday's low at 1.6162 would add credence to our view that early rebound from 1.6052 low has ended at 1.6525, bring subsequent fall to 1.6125-30 and possibly towards 1.6100, however, loss of near term momentum should prevent sharp fall below latter level

Read more...
 
Trade Idea: EUR/USD - Sell at 1.2715 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Oct 02 14 07:34 GMT

Although the single currency has retreated after intra-day rebound to 1.2674, break of this week's low at 1.2571 is needed to signal recent decline and extend weakness to 1.2550, then 1.2515-20, however, oversold condition should limit downside to 1.2490-00 and reckon 1.2440-50 would contain downside. If said support continues to hold, then further consolidation would be seen and another corrective bounce to 1.2697-1.2702

Read more...
 
Trade Idea: USD/JPY - Stand aside Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Oct 02 14 07:30 GMT

As dollar's retreat from 110.09 turned out to be stronger than expected, dampening our bullishness and this move suggests a temporary top has possibly been formed there, hence consolidation with mild downside bias is seen for test of support at 108.48, however, break there is needed to add credence to this view, bring retracement of recent upmove to previous support at 108.25 and later towards 108.00.

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Trade Idea Wrap-up: USD/CHF - Buy at 0.9500 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Oct 01 14 16:09 GMT

Dollar's near term sideways trading after yesterday's rally to 0.9597 is likely to continue and although pullback to 0.9520-25 cannot be ruled out, reckon yesterday's low at 0.9499 would limit downside and bring another rise later, above said resistance would extend recent upmove from 0.8699 low for further gain to 0.9600-10, then 0.9630, however, overbought condition should limit upside to 0.9650-60 and price should falter below 0.9675-80

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Trade Idea Wrap-up: GBP/USD - Sell at 1.6285 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Oct 01 14 16:02 GMT

As cable has recovered after intra-day marginal fall to 1.6162, suggesting minor consolidation above this level would be seen and corrective bounce to the upper Kumo (now at 1.6239) cannot be ruled out, however, reckon resistance at 1.6287 would limit upside and bring another decline. A break of said support at 1.6162 would confirm early rebound from 1.6052 has ended at 1.6525, bring subsequent fall to 1.6125-30 and possibly towards 1.6100

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Trade Idea Wrap-up: EUR/USD - Sell at 1.2700 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Oct 01 14 15:49 GMT

Euro's near term sideways trading is expected to continue and although corrective bounce to previous support at 1.2664 cannot be ruled out, reckon 1.2697-1.2702 (38.2% Fibonacci retracement of 1.2901-1.2571 and minor resistance) would limit upside and bring another decline later. A break of support at 1.2571 (yesterday's low) would extend recent selloff to 1.2550, then 1.2515-20

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Trade Idea Wrap-up: USD/JPY - Buy at 109.15 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Oct 01 14 15:39 GMT

As the greenback has retreated after intra-day initial rise to 110.09, suggesting consolidation below this level would be seen and near term downside risk is seen for retracement of recent rise, however, still reckon support at 109.13 would limit downside and bring another rise later. A break of said resistance at 110.09 would signal recent upmove is still in progress and may extend further gain to 110.20-25 and possibly 110.50

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Trade Idea Update: USD/CHF - Buy at 0.9500 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Oct 01 14 13:58 GMT

Yesterday's rally to 0.9597 adds credence to our view that recent upmove from 0.8699 low is still in progress and may extend further gain to 0.9600-10, then 0.9630, however, overbought condition should limit upside to 0.9650-60 and price should falter below 0.9675-80, risk from there is seen for a retreat to take place later.

Read more...
 
Trade Idea Update: GBP/USD - Sell at 1.6285 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Oct 01 14 13:55 GMT

As cable has recovered after intra-day marginal fall to 1.6162, suggesting minor consolidation above this level would be seen and corrective bounce to the upper Kumo (now at 1.6249) cannot be ruled out, however, reckon resistance at 1.6287 would limit upside and bring another decline. A break of said support at 1.6162 would confirm early rebound from 1.6052 has ended at 1.6525, bring subsequent fall to 1.6125-30 and possibly towards 1.6100

Read more...
 
Trade Idea Update: EUR/USD - Sell at 1.2700 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Oct 01 14 13:47 GMT

Euro's recovery after yesterday's selloff to 1.2571 suggests minor consolidation would be seen and corrective bounce to previous support at 1.2664 cannot be ruled out, however, reckon 1.2697-1.2702 (38.2% Fibonacci retracement of 1.2901-1.2571 and minor resistance) would limit upside and bring another decline later. A break of said support at 1.2571 would extend recent selloff to 1.2550, then 1.2515-20

Read more...
 
Trade Idea Update: USD/JPY - Buy at 109.15 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Oct 01 14 13:44 GMT

As the greenback has retreated after intra-day initial rise to 110.09, suggesting consolidation below this level would be seen and test of the lower Kumo (now at 109.42) cannot be ruled out, however, still reckon support at 109.13 would limit downside and bring another rise later. A break of said resistance at 110.09 would signal recent upmove is still in progress and may extend further gain to 110.20-25 and possibly 110.50

Read more...
 
Trade Idea Update: USD/CHF - Buy at 0.9500 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Oct 01 14 10:59 GMT

Yesterday's rally to 0.9597 adds credence to our view that recent upmove from 0.8699 low is still in progress and may extend further gain to 0.9600-10, then 0.9630, however, overbought condition should limit upside to 0.9650-60 and price should falter below 0.9675-80, risk from there is seen for a retreat to take place later.

Read more...
 
Trade Idea Update: GBP/USD - Sell at 1.6285 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Oct 01 14 10:57 GMT

Yesterday's selloff after meeting renewed selling interest at 1.6287 confirms recent decline from 1.6525 has resumed and bearishness remains for a test of previous support at 1.6162, however, a sustained breach below there is needed to confirm early rebound from 1.6052 has ended at 1.6525, bring subsequent fall to 1.6125-30 and possibly towards 1.6100 which is likely to hold on first testing.

Read more...
 
Trade Idea Update: EUR/USD - Sell at 1.2690 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Oct 01 14 10:56 GMT

Euro's recovery after yesterday's selloff to 1.2571 suggests minor consolidation would be seen and corrective bounce to previous support at 1.2664 cannot be ruled out, however, reckon 1.2697-1.2702 (38.2% Fibonacci retracement of 1.2901-1.2571 and minor resistance) would limit upside and bring another decline later. A break of said support at 1.2571 would extend recent selloff to 1.2550, then 1.2515-20

Read more...
 
Trade Idea Update: USD/JPY - Buy at 109.15 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Oct 01 14 10:53 GMT

As the greenback has risen again after brief pullback, suggesting recent upmove is still in progress and further gain to 110.20-25 and possibly 110.50 would be seen, however, overbought condition should prevent sharp move beyond 110.70-75 and reckon 111.00-10 would hold from here, risk from there has increased for a retreat to take place later.

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Advanced Candlesticks and Ichimoku Strategies for Forex Trading

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