AUD/USD Daily Candles

Hi All

The two candles previous to the one currently forming are showing some strong bullish action. Two candles back the daily candle formed a piercing pattern closing well up into the previous candle.Yesterday's candle is also bullish, with the close up over 50% of the days midpoint.

An added bonus to this pair for longer term bullish traders is the positive buy swap. This means that you get paid the interest differential on trades you hold overnite.

This is not a recommendation to trade! If you are trading use a demo account or know your risk.

EURJPY 1hr pinbar

There is a nice looking 1hr pinbar on EJ.

This is not a recommendation to trade. If you do so use a demo account or know your risk.

AUD/JPY Signal Update. . .

Its been awhile since my last post because of two reasons, first my work kept me very busy for the last two weeks or so and secondly I haven't really seen anything that is noteworthy to me. However, careful analysis of the Jan 11 candle does show a foreshadow to the substantial move to the downside on the 12th. Note how the Jan 11 candle opened above the close of the previous day and then closed down into the real body of the previous candle. That may be referred to as a 'dark cloud cover' candle formation and is a bearish signal. That would have been a good time to close any long you may have been in and go short OR at least tighten your stop if you were still long.

A look at AUDJPY shows that the last long signal moved over 600pips. That was a nice move and this pair amongst many others seem to be at crucial levels of support or resistance.

This is not a recommendation to trade. If you do so it is at your own risk.

AUD/JPY Signal Update

Just checking in again on the charts and was pleased to see that the last signal posted has gained over 60 pips on a break out of the signal bar high!

As indicated in my last post I did not take a position on this last signal. Nevertheless, it is great to see that the signal has played out so nicely so far.

I am now heading into the 'busy' season at work. I will only have limited time to be checking the charts for signals and my time for posting here on my blog will be limited. However, I will be doing my best to keep up with my analysis and blog postings as best I can so keep checking in as often as you can. I will be posting more chart analysis as time permits.

This is not a recommedaton to trade! duh! If you are trading, know your risk or use a demo account!!!


Happy New Year you all!!!

I am looking forward to sharing my blog with you all in 2010!

AUD/JPY Pin Bar at support

Last week came and went quickly for me. I was busy at work. Not much in the line of signals that I noticed during the free hours I had to watch the market until Friday. Here is a nice pin bar that formed at a support level. Similar bars can be found across a few different pairs. While the bar is not an actual piercing candle formation it is a strong looking signal being off a support area and closing well up into the previous candle.

I would be careful with this signal at next weeks open. Likely we will open with a gap and things will be a little unsettled on Sunday. Also this late into December signals may not be as reliable as market participation is at low levels due to the holiday season. All that said this is once again a very nice looking signal that I would be watching for as a rule.

This is not a recommendation to trade. If you are trading please know your risk or use a demo account.

Happy Holidays!!!

AUD/JPY Trade Status

The A/J demo trade from my last post was stopped out shortly after I moved to Break-Even.

I'll be having a look at the charts a bit later today as I have to go to work shortly. If I find anything I'll be sharing trade examples here so 'stay tuned'!

This is not a recommendation to trade. If you are trading know your risk or use a demo account.

Cheers!