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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/JPY - Hold short entered at 101.70 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Jul 24 14 15:24 GMT

Current rally suggests caution on our near term bearishness but as long as resistance at 101.86 holds, further consolidation would be seen and mild downside bias remains for another retreat, below 101.32 support (yesterday's low) would signal the rebound from 101.09 has ended and bring subsequent weakness towards support at 101.07-09, break there would extend recent fall towards indicated strong support at 100.76-82

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Trade Idea Wrap-up: USD/CHF - Buy at 0.8970 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Jul 24 14 15:22 GMT

As the greenback has maintained a firm undertone after breaking previous resistance at 0.9013, suggesting the erratic rise from 0.8699 low is still in progress and may extend further gain to 0.9045-50, however, loss of upward momentum should prevent sharp move beyond 0.9060-65, price should falter below resistance at 0.9082 and reckon 0.9100 would hold from here, bring retreat later.

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Trade Idea Wrap-up: GBP/USD - Sell at 1.7040 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Jul 24 14 15:18 GMT

As cable's intra-day decline has accelerated, adding credence to our view that top has been formed at 1.7192 earlier last week and downside bias remains for the fall from there to bring retracement of recent upmove to previous support at 1.6952, break there would extend weakness towards 1.6925-30, however, near term oversold condition should limit downside to 1.6900, risk from there has increased for a rebound to take place later.

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Trade Idea Wrap-up: EUR/USD - Buy at 1.3415 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Jul 24 14 15:16 GMT

Although euro rebounded after dropping briefly to 1.3438 earlier today, reckon the upper Kumo (now at 1.3493) would limit upside and near term downside risk remains for the decline from 1.3993 top to extend weakness towards 1.3410-15, however, loss of downward momentum should prevent sharp fall below 1.3400 and bring rebound later, above the upper Kumo (now at 1.3493) would bring correction to 1.3520

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Trade Idea Update: USD/CHF - Buy at 0.8970 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Jul 24 14 13:48 GMT

Although the greenback moved higher again today and near term upside risk remains for one more rise to 0.9045-50, loss of upward momentum should prevent sharp move beyond 0.9060-65, price should falter below resistance at 0.9082 and reckon 0.9100 would hold from here, bring retreat later.

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Trade Idea Update: GBP/USD - Sell at 1.7040 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Jul 24 14 13:44 GMT

As cable's intra-day decline has accelerated, adding credence to our view that top has been formed at 1.7192 earlier last week and downside bias remains for the fall from there to bring retracement of recent upmove to previous support at 1.6952, break there would extend weakness towards 1.6925-30, however, near term oversold condition should limit downside to 1.6900, risk from there has increased for a rebound to take place later.

Read more...
 
Trade Idea Update: EUR/USD - Buy at 1.3415 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Jul 24 14 13:38 GMT

Although the single currency has rebounded after intra-day brief fall to 1.3438, near term downside risk remains for the decline from 1.3993 top to extend weakness towards 1.3410-15, however, loss of downward momentum should prevent sharp fall below 1.3400 and bring rebound later, above the upper Kumo (now at 1.3500) would bring correction to 1.3520 but price should falter below resistance at 1.3549

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Trade Idea Update: USD/JPY - Hold short entered at 101.70 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Jul 24 14 13:36 GMT

Current rally suggests caution on our near term bearishness but as long as resistance at 101.86 holds, further consolidation would be seen and mild downside bias remains for another retreat, below 101.32 support (yesterday's low) would signal the rebound from 101.09 has ended and bring subsequent weakness towards support at 101.07-09, break there would extend recent fall towards indicated strong support at 100.76-82

Read more...
 
Trade Idea Update: USD/CHF - Buy at 0.8970 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Jul 24 14 11:03 GMT

Although the greenback moved higher again today and near term upside risk remains for one more rise to 0.9045-50, loss of upward momentum should prevent sharp move beyond 0.9060-65, price should falter below resistance at 0.9082 and reckon 0.9100 would hold from here, bring retreat later.

Read more...
 
Trade Idea Update: GBP/USD - Sell at 1.7115 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Jul 24 14 11:01 GMT

Although the British pound has remained under pressure, loss of near term downward momentum suggests downside would be limited and recovery to 1.7050-55 cannot be ruled out, however, upside should be limited to 1.7110-20 and bring another decline later to 1.7000, break there would extend the decline from 1.7192 top for retracement of recent upmove to 1.6970-75 but previous support at 1.6952 should holdĀ 

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Trade Idea Update: EUR/USD - Buy at 1.3415 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Jul 24 14 10:54 GMT

Although the single currency has rebounded after intra-day brief fall to 1.3438, near term downside risk remains for the decline from 1.3993 top to extend weakness towards 1.3410-15, however, loss of downward momentum should prevent sharp fall below 1.3400 and bring rebound later, above the upper Kumo (now at 1.3500) would bring correction to 1.3520 but price should falter below resistance at 1.3549

Read more...
 
Trade Idea Update: USD/JPY - Sell at 101.70 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Jul 24 14 10:41 GMT

As the greenback found good support at 101.20 earlier this week and has recovered, suggesting near term upside risk remains for the rebound from 101.09 to extend gain to 101.65-70, however, as broad outlook is still consolidative, reckon upside would be limited to last week's high at 101.79 and bring another decline later. A break of support at 101.07-09 would extend recent fall towards indicated strong support at 100.76-82

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Trade Idea : USD/CHF - Buy at 0.8970 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Jul 24 14 07:45 GMT

Although the greenback moved higher again today and near term upside risk remains for one more rise to 0.9045-50, loss of upward momentum should prevent sharp move beyond 0.9060-65, price should falter below resistance at 0.9082 and reckon 0.9100 would hold from here, bring retreat later.

Read more...
 
Trade Idea: GBP/USD - Sell at 1.7140 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Jul 24 14 07:40 GMT

Despite intra-day brief fall to 1.7022, lack of follow through selling on break of yesterday's low at 1.7024 suggests consolidation would be seen and recovery to the upper Kumo (now at 1.7071), then 1.7100 cannot be ruled out, however, reckon 1.7140-45 would limit upside and bring another decline later, break of said support would extend the decline from 1.7192 top for retracement of recent upmove to 1.7000-07 support, then towards 1.6970-75

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Trade Idea: EUR/USD - Buy at 1.3415 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Jul 24 14 07:27 GMT

Although the single currency has fallen again today and near term downside risk remains for the decline from 1.3993 top to extend weakness towards 1.3410-15, however, loss of downward momentum should prevent sharp fall below 1.3400 and bring rebound later, above the lower Kumo (now at 1.3479) would bring correction to the upper Kumo (now at 1.3504) but price should falter below resistance at 1.3549

Read more...
 
Trade Idea: USD/JPY - Sell at 101.70 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Jul 24 14 07:20 GMT

As the greenback found good support at 101.20 earlier this week and has recovered, suggesting near term upside risk remains for the rebound from 101.09 to extend gain to 101.65-70, however, as broad outlook is still consolidative, reckon upside would be limited to last week's high at 101.79 and bring another decline later. A break of support at 101.07-09 would extend recent fall towards indicated strong support at 100.76-82

Read more...
 
Trade Idea Wrap-up: USD/CHF - Buy at 0.8970 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Jul 23 14 16:02 GMT

As the greenback has moved higher again today after yesterday's rally above indicated resistance at 0.9013, adding credence to our view that early erratic rise from 0.8699 low is still in progress and headway to 0.9038 and possibly to 0.9060-65 would be seen, however, overbought condition should prevent sharp move beyond 0.9082 and reckon 0.9100 would hold from here, risk from there is seen for a retreat later.

Read more...
 
Trade Idea Wrap-up: GBP/USD - Sell at 1.7140 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Jul 23 14 15:59 GMT

The British pound met renewed selling interest at 1.7095 and has fallen again, suggesting the decline from 1.7192 top is still in progress and downside bias remains for retracement of recent upmove to bring weakness to 1.7000-07 support, then towards 1.6970-75, however, previous support at 1.6952 should hold from here due to near term oversold condition, risk from there is seen for a rebound later.

Read more...
 
Trade Idea Wrap-up: EUR/USD - Sell at 1.3545 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Jul 23 14 15:56 GMT

As the single currency has remained under pressure after yesterday's selloff below indicated previous support at 1.3477, adding credence to our bearishness for recent decline from 1.3993 top to bring correction of early upmove to 1.3450, then 1.3430 but oversold condition should limit downside to 1.3400-10, risk from there is seen for a rebound to take place later.

Read more...
 
Trade Idea Wrap-up: USD/JPY - Sell at 101.70 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Jul 23 14 15:53 GMT

As the greenback has rebounded again after finding support at 101.32, retaining our view that further consolidation above indicated support at 101.07-09 would be seen and near term upside risk remains for the rebound from 101.09 to extend gain to 101.65-70, however, as broad outlook is still consolidative, reckon upside would be limited to last week's high at 101.79 and bring another decline later. A break of said support at 101.07-09 would extend recent fall towards indicated strong support at 100.76-82

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

For the first time, our Action Forex analysts are revealing the strategies they use in formulating the trading ideas in our popular Candlesticks and Ichimoku Analysis section. These strategies are presented in our newly released ebook "Advanced Candlesticks and Ichimoku Strategies for Forex Trading." Don't miss this opportunity in learning these techniques that professional traders use. Download both Part I and Part II NOW!

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