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Jan 29 16:20 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 - Buy at 0.9110 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Jan 29 15 16:09 GMT

Current rally above previous resistance at 0.9168 confirms recent upmove has resumed and further gain towards 0.9270 (50% projection of 0.8501-0.9168 measuring from 0.8938) would be seen, however, near term overbought condition should limit upside to 0.9300-10 and reckon 0.9345-50 (61.8% projection) would cap upside, risk from there remains for a strong pullback to take place later.

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Trade Idea Wrap-up: GBP/USD - Exit long entered at 1.5075 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Jan 29 15 16:06 GMT

Current selloff suggests near term downside risk remains for the retreat from 1.5223 (this week's high) to bring weakness to 1.5060, however, break of previous resistance at 1.5045 is needed to signal the rebound from last week's low at 1.4951 has ended at 1.5223 and bring further decline to 1.4999-00 and possibly towards 1.4975-80 but reckon said support at 1.4951 would hold from here.

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Trade Idea Wrap-up: EUR/USD - Stand aside Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Jan 29 15 15:58 GMT

As the single currency has recovered after finding support at 1.1262, consolidation with mild upside bias would be seen and test of resistance at 1.1370 cannot be ruled out, however, a sustained breach above there is needed to suggest the retreat from 1.1423 (this week's high) has ended, bring another test of this level, above there would extend near term rise from 1.1098 temporary low for retracement of recent decline towards 1.1455-60

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Trade Idea Wrap-up: USD/JPY - Stand aside Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Jan 29 15 15:55 GMT

As the greenback found support at 117.26 again and has rebounded, adding credence to our view that further consolidation within 117.18-118.87 range would be seen and gain to 118.26, then towards 118.50-60 cannot be ruled out but reckon said upper range at 118.87 would hold and bring retreat later. Only a break of this level would signal the rise from 115.85 has resumed for headway to 119.00, then 119.32-35 but price should falter below 119.96.

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Trade Idea Update: USD/CHF - Buy at 0.9120 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Jan 29 15 14:38 GMT

Current rally above previous resistance at 0.9168 confirms recent upmove has resumed and further gain towards 0.9270 (50% projection of 0.8501-0.9168 measuring from 0.8938) would be seen, however, near term overbought condition should limit upside to 0.9300-10 and reckon 0.9345-50 (61.8% projection) would cap upside, risk from there remains for a strong pullback to take place later.

Read more...
 
Trade Idea Update: GBP/USD - Buy at 1.5075 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Jan 29 15 14:36 GMT

As the British pound has retreated after faltering below resistance at 1.5223, retaining our view that further consolidation below this level would be seen and test of the lower Kumo (now at 1.5108) cannot be ruled out, however, reckon downside should be limited to 1.5075-80 and bring another rise later. Above said resistance at 1.5223 would extend the rise from 1.4951 low for retracement of recent decline to resistance at 1.5269

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Trade Idea Update: EUR/USD - Stand aside Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Jan 29 15 14:34 GMT

As the single currency has recovered after finding support at 1.1262, consolidation with mild upside bias would be seen and test of the upper Kumo (now at 1.1348) cannot be ruled out, however, break of 1.1370 is needed to suggest the retreat from 1.1423 (this week's high) has ended, bring another test of this level, above there would extend near term rise from 1.1098 temporary low for retracement of recent decline towards 1.1455-60

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Trade Idea Update: USD/JPY - Stand aside Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Jan 29 15 14:30 GMT

Despite falling to 117.26 overnight in NY, as the greenback rebounded again after holding above indicated support at 117.18, adding credence to our view that further consolidation within 117.18-118.87 range would be seen and only a break of said lower range at 117.18 would signal the rebound from 115.85 has ended at 118.87, bring weakness to 116.92 support and later towards 116.50 but reckon support at 116.30-35 would contain downside.

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Trade Idea Update: USD/CHF - Buy at 0.9120 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Jan 29 15 11:07 GMT

Current rally above previous resistance at 0.9168 confirms recent upmove has resumed and further gain towards 0.9270 (50% projection of 0.8501-0.9168 measuring from 0.8938) would be seen, however, near term overbought condition should limit upside to 0.9300-10 and reckon 0.9345-50 (61.8% projection) would cap upside, risk from there remains for a strong pullback to take place later.

Read more...
 
Trade Idea Update: GBP/USD - Buy at 1.5075 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Jan 29 15 11:02 GMT

As the British pound has retreated after faltering below resistance at 1.5223, retaining our view that further consolidation below this level would be seen and test of the lower Kumo (now at 1.5108) cannot be ruled out, however, reckon downside should be limited to 1.5075-80 and bring another rise later. Above said resistance at 1.5223 would extend the rise from 1.4951 low for retracement of recent decline to resistance at 1.5269

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Trade Idea Update: EUR/USD - Stand aside Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Jan 29 15 11:00 GMT

Although the single currency slipped on dollar's broad-based rebound after FOMC and consolidation with mild downside bias is seen, break of support at 1.1244 is needed to retain bearishness and signal the rebound from 1.1098 has ended and bring further weakness to 1.1190-00 and later towards 1.1150-55 but reckon price would stay above this week's low at 1.1098. 

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Trade Idea Update: USD/JPY - Stand aside Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Jan 29 15 10:57 GMT

Despite falling to 117.26 overnight in NY, as the greenback rebounded again after holding above indicated support at 117.18, adding credence to our view that further consolidation within 117.18-118.87 range would be seen and only a break of said lower range at 117.18 would signal the rebound from 115.85 has ended at 118.87, bring weakness to 116.92 support and later towards 116.50 but reckon support at 116.30-35 would contain downside.

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Trade Idea : USD/CHF - Stand aside Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Jan 29 15 08:10 GMT

Although the greenback maintained a firm undertone after overnight post-FOMC rebound, break of this week's high at 0.9168 is needed to signal recent rise has resumed and extend further gain to 0.9200, however, loss of upward momentum should prevent sharp move beyond 0.9250 but reckon 0.9270 (50% projection of 0.8501-0.9168 measuring from 0.8938) would cap upside, bring retreat later.

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Trade Idea : GBP/USD - Buy at 1.5075 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Jan 29 15 08:04 GMT

As the British pound has retreated after faltering below resistance at 1.5223, retaining our view that further consolidation below this level would be seen and test of the lower Kumo (now at 1.5108) cannot be ruled out, however, reckon downside should be limited to 1.5075-80 and bring another rise later. Above said resistance at 1.5223 would extend the rise from 1.4951 low for retracement of recent decline to resistance at 1.5269

Read more...
 
Trade Idea: EUR/USD - Stand aside Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Jan 29 15 07:55 GMT

Although the single currency slipped on dollar's broad-based rebound after FOMC and consolidation with mild downside bias is seen, break of support at 1.1244 is needed to retain bearishness and signal the rebound from 1.1098 has ended and bring further weakness to 1.1190-00 and later towards 1.1150-55 but reckon price would stay above this week's low at 1.1098.

Read more...
 
Trade Idea: USD/JPY - Stand aside Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Jan 29 15 07:49 GMT

Despite falling to 117.26 overnight in NY, as the greenback rebounded again after holding above indicated support at 117.18, adding credence to our view that further consolidation within 117.18-118.87 range would be seen and only a break of said lower range at 117.18 would signal the rebound from 115.85 has ended at 118.87, bring weakness to 116.92 support and later towards 116.50 but reckon support at 116.30-35 would contain downside.

Read more...
 
Trade Idea Wrap-up: USD/CHF - Stand aside Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Jan 28 15 16:08 GMT

The greenback has remained confined within near term range after retreating from yesterday's high of 0.9168 and further consolidation would be seen, below 0.8985-90 would bring another test of support at 0.8930-40, however, break there is needed to signal top has been formed at 0.9168, bring retracement of recent rise to 0.8900. Only break of 0.8880-85 would retain bearishness and bring test of 0.8838

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Trade Idea Wrap-up: GBP/USD - Stand aside Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Jan 28 15 16:02 GMT

Despite intra-day rebound to 1.5219, as the British pound has retreated after faltering below yesterday's high of 1.5223, suggesting further consolidation below this level would be seen and test of intra-day support at 1.5155 cannot be ruled out, however, only below previous resistance at 1.5117 would signal top has been formed and risk weakness to 1.5100, then test of support at 1.5060 which is likely to hold

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Trade Idea Wrap-up: EUR/USD - Stand aside Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Jan 28 15 15:57 GMT

Although euro's retreat after yesterday's rise suggests consolidation below this level would be seen and weakness to 1.1300 cannot be ruled out, break of 1.1260-65 is needed to signal top has been formed there and bring further fall towards  support at 1.1224, once this level is penetrated, this would indicate the rebound from this week's low at 1.1098 has ended and bring subsequent decline to 1.1190-00.

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Trade Idea Wrap-up: USD/JPY - Stand aside Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Jan 28 15 15:49 GMT

Despite intra-day initial bounce to 118.26, as dollar has retreated again since, adding credence to our view that further consolidation within 117.18-118.87 range would be seen and whilst weakness to 117.34 cannot be ruled out, break of said lower range at 117.18 is needed to signal the rebound from 115.85 has ended at 118.87, bring weakness to 116.92 support and later towards 116.50 but reckon support at 116.30-35 would contain downside.

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

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