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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 - Hold short entered at 0.9400 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Sep 23 14 15:42 GMT

Although the greenback fell to 0.9353 earlier in European session, dollar found good support there and has staged a rebound, suggesting further consolidation would be seen, however, reckon minor resistance at 0.9403 would limit upside and bring another decline, below said intra-day support would bring test of indicated support at 0.9332, break there would add credence to our view that top is possibly formed at 0.9433

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Trade Idea Wrap-up: GBP/USD - Sell at 1.6435 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Sep 23 14 15:38 GMT

Although the British pound has retreated after meeting resistance at 1.6416, as long as intra-day support at 1.6303 holds, risk of another rebound cannot be ruled out, however, reckon upside should be limited to 1.6430-35 (61.8% Fibonacci retracement of 1.6525-1.6284) and bring another decline later. A break of said support at 1.6303 would bring test of support at 1.6284, break there would add credence to our view that a temporary top has possibly been formed at 1.6525

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Trade Idea Wrap-up: EUR/USD - Hold long entered at 1.2865 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Sep 23 14 15:33 GMT

As the single currency has retreated after intra-day rise to 1.2901 suggests caution on our long position entered at 1.2865 but as long as 1.2840 holds, prospect of another rebound remains, above said resistance would add credence to our view that low is possibly formed at 1.2816 yesterday, bring further gain to 1.2905-10 (50% Fibonacci retracement of 1.2995-1.2816), however, break of 1.2927-30 (61.8% Fibonacci retracement and previous resistance) is needed to provide confirmation

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Trade Idea Wrap-up: USD/JPY - Stand aside Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Sep 23 14 15:28 GMT

Although the greenback found good support at 108.25 and has staged a strong rebound, above resistance at 109.19 is needed to signal the retreat from last week's high of 109.46 has ended and bring retest of this level, a break there would confirm upmove has resumed for headway to 109.75-80 but loss of near term upward momentum should prevent sharp move beyond 110.00-10 today.

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Trade Idea Update: USD/CHF - Hold short entered at 0.9400 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Sep 23 14 14:13 GMT

Although the greenback edged higher to 0.9421 yesterday, as dollar ran into renewed selling interest there and has retreated, retaining our view that further consolidation below last week's high at 0.9433 would be seen and mild downside bias remains for another retreat towards support at 0.9332, break there would add credence to our view that top is possibly formed, bring retracement of recent rise towards support at 0.9300

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Trade Idea Update: GBP/USD - Sell at 1.6435 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Sep 23 14 14:10 GMT

Although the British pound slipped initially in London morning to 1.6303, as cable found good support there and has staged a strong rebound, retaining our view that near term upside risk remains for another corrective bounce but upside should be limited to 1.6430-35 (61.8% Fibonacci retracement of 1.6525-1.6284) and bring another decline later. A break of said support at 1.6303 would bring test of support at 1.6284

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Trade Idea Update: EUR/USD - Buy at 1.2865 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Sep 23 14 14:08 GMT

Current rebound above the upper Kumo suggests low is possibly formed at 1.2816 yesterday and consolidation with upside bias is seen for gain to 1.2905-10 (50% Fibonacci retracement of 1.2995-1.2816), however, break of 1.2927-30 (61.8% Fibonacci retracement and previous resistance) is needed to add credence to this view, bring a stronger rebound to 1.2960-65

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Trade Idea Update: USD/JPY - Buy at 108.15 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Sep 23 14 13:35 GMT

Dollar's intra-day fall to 108.25 suggests near term downside risk remains for the retreat from 109.46 (last week's high) to bring retracement of recent upmove to 108.10-15 (50% Fibonacci retracement of 106.81-109.46) before prospect of another rebound, above 108.85-90 would bring test of resistance at 109.19 but break there is needed to signal pullback from 109.46 has ended and bring retest of this level, above there would confirm upmove has resumed for headway to 109.75-80

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Trade Idea Update: USD/CHF - Hold short entered at 0.9400 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Sep 23 14 10:42 GMT

Although the greenback edged higher to 0.9421 yesterday, as dollar ran into renewed selling interest there and has retreated, retaining our view that further consolidation below last week's high at 0.9433 would be seen and mild downside bias remains for another retreat towards support at 0.9332, break there would add credence to our view that top is possibly formed, bring retracement of recent rise towards support at 0.9300

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Trade Idea Update: GBP/USD - Sell at 1.6435 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Sep 23 14 10:40 GMT

Although the British pound slipped initially in London morning to 1.6303, as cable found good support there and has staged a strong rebound, retaining our view that near term upside risk remains for another corrective bounce to 1.6405 (50% Fibonacci retracement of 1.6525-1.6284) but upside should be limited to 1.6430-35 (61.8% Fibonacci retracement) and bring another decline later. A break of said support at 1.6303 would bring test of support at 1.6284

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Trade Idea Update: EUR/USD - Buy at 1.2865 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Sep 23 14 10:36 GMT

Current rebound above the upper Kumo suggests low is possibly formed at 1.2816 yesterday and consolidation with upside bias is seen for gain to 1.2905-10 (50% Fibonacci retracement of 1.2995-1.2816), however, break of 1.2927-30 (61.8% Fibonacci retracement and previous resistance) is needed to add credence to this view, bring a stronger rebound to 1.2960-65 but price should falter well below said resistance at 1.2995.

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Trade Idea Update: USD/JPY - Exit long entered at 108.30 and buy at 108.15 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Sep 23 14 10:24 GMT

Dollar's intra-day fall suggests near term downside risk remains for the retreat from 109.46 (last week's high) to bring retracement of recent upmove to 108.10-15 (50% Fibonacci retracement of 106.81-109.46) before prospect of another rebound, above 108.85-90 would bring test of resistance at 109.19 but break there is needed to signal pullback from 109.46 has ended and bring retest of this level, above there would confirm upmove has resumed for headway to 109.75-80

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Trade Idea : USD/CHF - Hold short entered at 0.9400 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Sep 23 14 07:37 GMT

Although the greenback edged higher to 0.9421 yesterday, as dollar ran into renewed selling interest there and has retreated, retaining our view that further consolidation below last week's high at 0.9433 would be seen and mild downside bias remains for another retreat, below the Ichimoku cloud bottom (now at 0.9377) would bring weakness towards support at 0.9332, break there would add credence to our view that top is possibly formed, bring retracement of recent rise towards support at 0.9300

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Trade Idea: GBP/USD - Sell at 1.6405 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Sep 23 14 07:33 GMT

Although the British pound has retreated after meeting resistance around the upper Kumo, near term upside risk remains for the rebound from 1.6284 to bring a stronger recovery to 1.6405 (50% Fibonacci retracement of 1.6525-1.6284) but price should falter below 1.6430-35 (61.8% Fibonacci retracement) and bring another decline later. A break of 1.6284 would add credence to our view that a temporary top has possibly been formed at 1.6525

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Trade Idea: EUR/USD - Stand aside Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Sep 23 14 07:28 GMT

Despite yesterday's brief fall to 1.2816, the subsequent rebound suggests consolidation above this level would be seen and test of the yesterday's high of 1.2868 is likely, above would signal low is possibly formed, bring a stronger recovery to 1.2885 (38.2% Fibonacci retracement of 1.2995-1.2816) but break of 1.2927-30 (61.8% Fibonacci retracement and previous resistance) is needed to add credence to this view, bring rebound to 1.2950-60 later.

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Trade Idea: USD/JPY - Buy at 108.30 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Sep 23 14 07:23 GMT

As the greenback has slipped after meeting resistance at 109.19 (twice), retaining our view that further consolidation below last week's high of 109.46 would be seen and near term downside risk remains for corrective fall to 108.45 (38.2% Fibonacci retracement of 106.81-109.46), however, reckon 108.30 would limit downside and bring another rise to 109.46-50

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Trade Idea Wrap-up: USD/CHF - Hold short entered at 0.9400 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Sep 22 14 15:43 GMT

As the greenback has risen again after brief pullback, caution is advised on our short position entered at 0.9400 and last week's high at 0.9433 needs to hold to retain prospect of another retreat, below the Ichimoku cloud (now at 0.9374-78 would bring weakness towards support at 0.9332, break there would add credence to our view that top is possibly formed, bring retracement of recent rise towards support at 0.9300

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Trade Idea Wrap-up: GBP/USD - Stand aside Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Sep 22 14 15:39 GMT

The British pound has remained confined in narrow range and further sideways trading is in store, however, as the sharp retreat from 1.6525 suggests a temporary top has possibly been formed there, mild downside bias is seen for test of 1.6280-85, a break there would add credence to this view and extend weakness towards support at 1.6240-46, below there would provide confirmation and signal the rise from 1.6052 low has ended

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Trade Idea Wrap-up: EUR/USD - Stand aside Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Sep 22 14 15:34 GMT

Although the single currency has fallen again after meeting renewed selling interest around the Kijun-Sen and near term downside risk remains for recent decline to extend one more fall to 1.2800, loss of downward momentum should prevent sharp fall below 1.2770 and reckon previous support at 1.2745-55 would hold from here, risk from there is seen for a strong rebound to take place later.

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Trade Idea Wrap-up: USD/JPY - Buy at 108.30 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Sep 22 14 15:30 GMT

Dollar's near term consolidation below last week's high of 109.46 is expected to continue and although near term downside risk is seen for corrective fall to 108.50, reckon the Ichimoku cloud bottom (now at 108.30) would contain weakness and bring another rise to 109.46-50 (said resistance and 100% projection of 104.69-107.39 measuring from 106.81), break there would extend gain to 109.75-80

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Advanced Candlesticks and Ichimoku Strategies for Forex Trading

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