USD/JPY Analysis 2011-04-29

Looking at 4H chart, UJ Kumo currently doesn't show new low. Believe the bearish is weak at 4H.

Trade Idea : Taking risk. Suggestion here not following Ichimoku Strategy. Enter long at 81.40, SL at 81.00.

Gold New World Record High

Gold now touching it new world record high. The new high is already projected by many professional fundamental analyst when it compares to US Dollar. US Dollar now depreciate and will be more and more depreciated as no gold value on US Dollar. Just print the US Dollar to buy gold. Very lucky to US citizen who has a lot of US Dollar who can simply buy gold to protect their asset.

Trade Idea : Buy gold for long term investment and as protection to inflation. Paper money is fiat money.

Currency Daily Update 2011-04-28

EUR/USD

Weekly : Bullish + Strong
Daily : Bullish + Strong
4H : Bullish + Strong
1H : Bullish, Retracement is progress. Kumo as support.
Trade Idea : Enter long at 1H with stop loss at 1.4735.

GBP/USD

Weekly : Bullish + Strong
Daily : Bullish + Strong. Move today Resistance 2 (1.6871)
4H : Bullish + Strong. GU successful testing Resistance 1(1.6423) and bullish continue
1H : Bullish + Retracement is progress. GU currently above Kumo,  GU in between TS(1.6680) and KS(1.6620).
Trade Idea : Enter long now or wait 1.6642 or GU close above at time frame (TF) 1H.  SL when GU close below KS at TF1H or depend on your money management.

GBP/JPY

Weekly : Neutral
Daily : Bullish + Weak. GJ testing support at 135.46.
4H : Bullish + Weak. Retracement in progress.
1H : Bullish + Retracement. GJ above Kumo. Kumo react as Support.
Trade Idea : Wait for rebound at TF1H. Enter long with SL below previous lowest bar.

USJ/JPY
Weekly : Bearish + Weak. Support at 80.80.
Daily : Neutral + Sideway. Testing Support at 81.15.
4H : Bearish + Strong. Testing Support at 81.15..
1H : Bearish. Possibility to create double bottom.
Trade Idea : As UJ has possibility to create double bottom at TF1H. Traders may want to make entry long now and put SL at 81.25.

EUR/JPY
Weekly : Neutral.
Daily : Bullish + Retracement. Support at 118.33
4H : Bullish + Strong. Retracement in progress. Support at 120.10
1H : Bullish + Retracement. EJ currently near Kumo. Kumo as Support is on testing. 
Trade Idea : As EJ at Kumo in 1H TF and suggest to enter long when TS cross KS predict at 121.25.

Happy trading to all.

GBP/USD Analysis 2011-04-25

GU is forming a Flag pattern. This is a bullish consolidation pattern before continuing the uptrend.
At 4H chart GU actually in retracement process. GU has the possibility to reach 1.6400 as support line.

Trade Idea:

Enter long with SL depend on trader's money management.

USD/JPY Weekly Analysis

UJ is in bearish trend since August 2007. However, UJ already made a resistance breakout in daily chart which give us and indication of price action is challenging it bearish trend.

UJ move in side-way since November 2010 until now. Traders may want to use side-way trading strategy or maybe stay aside until UJ break and close above 83.35 and at the same time close above Kumo at 4H chart. Refer chart attached.

Trade Idea:

1- Enter short when UJ break support and close below support on 4H chart. Stop loss (SL) at 82.35 or at any price according to traders money management.
2- It's also recommended to wait UJ move toward KS (82.35) at 4H chart and enter short when rebound. SL at 83.12.

GBP/JPY Weekly Analysis

Weekly Chart : A pin bar appeared under the TadawulFX broker. An indication of rejection of GJ from going down. GJ still moves inside Kumo as long term traders do not make any significant move.

As bearish is weak on weekly chart, GJ may started to change trend by next week.

4H Chart : GJ moves in flat trading range. Volatility is low. GJ is predicted to make a significant move next week or next 2 weeks during Non-Farm news.

Trade Idea:

1- Enter long when price close above previous peak or above Kumo. SL at KS.
2- Enter short when price close below KS. SL around 100 pips.

Happy trading.

EUR/USD Analysis

Trade Idea:
Wait for retracement until EU come close to lower uptrend channel and review Ichimoku situation during that time at lower TF. For Contrarian trader, A short can be taken as SL can be little bit above previous peak.

GBP/USD Analysis

Weekly Chart: GU continue bullish. GU going to test Resistance 2.

4H Chart : As predict on 19/4/2011, GU to continue bullish if GU close above Kumo and Channel trendline.

Trade Idea:
Wait for retracement completion.

GBP/USD Analysis 2001-04-19

Daily Chart:GU still bullish and currently in retracement. Believe GU to continue bullish once break the downtrend channel.

4H Chart: GU stay flat and in no trade zone (neutral). Trader should wait GU to close above Kumo before entering new long position.

Trade Idea:
Enter long trade once GU close above Kumo and break channel trend line.

Happy trading.

GBP/USD Weekly Analysis

Weekly Chart : GU bullish and above triangle pattern.

Daily Chart :GU move in range.

4H Chart : GU moves in range and will move in range until Supply or Demand line broken.

Trade Idea: Wait for breakout and make a new analysis whether to buy or sell.

GBP/JPY Weekly Analysis

 Weekly Chart : GJ moves in range.

Daily Chart : GJ in retracement and hit previous demand and supply zone. GJ may test the zone next week before continue bullish.

4H Chart :GJ start to bearish. GJ is in demand and supply zone.

Trade Idea:
1 - Buy when TS cross KS and GJ close above Kumo.
2- Sell when GJ continue bearish and close below demand line.

Happy trading.

EUR/USD Analysis 2011-04-15

Looking at 4H chart, EU already close below KS. KS crossed TS and it's time to take what ever profit in hand. Look likes EU formed a H&S pattern on 4H chart.

EU however still moving in uptrend channel. Bullish still strong.

Trade Idea:
Wait for TS cross KS at 4H chart before entering long position.

Good luck.

GBP/USD Analysis 2011-04-15

Another day of trading range at the time of writing this article. As buy stop was triggered yesterday, decided to stick with current open trade until SL triggered at 1.6310.

H&S pattern still can be seen as incomplete pattern. Suggest the H&S pattern complete it formation once KS cross TS and GU close below KS at 4H chart.

Trade Idea:
To those who still not making any entry, another 2 alternative of trading strategy;
1- At 4H TF, traders may want to enter long when price close above 1.6375 as H&S maybe fail to complete it pattern.
2- At 1H TF, traders may want to enter short when price close below 1.6300 as H&S maybe complete it formation.

Happy trading.

GBP/USD Analysis 2011-04-14

As previous GU trading met the Stop Loss, the trend has changed in 1H chart. A new pattern has emerged that is an incomplete Head & Shoulder as can be seen in 4H chart.

GU still above Kumo and TS. However, GU is very near to Kumo and it is an indication that 4H bullish is weak. GU at weekly and daily chart still above Kumo and bullish still in control.

However, at 1H chart, GU already pushed above Kumo and it is an indication that 1H Bear beaten by Bull.

Trade Idea:
Today new trading opportunity that traders can make.
1- At 1H chart, long position when GU above Target Buy Stop and SL when close below Kumo.
2- At 4H chart, short position can be taken when GU H&S pattern completed. SL when GU close above Kumo.

Happy trading.

EUR/USD Analysis 2011-04-13

As previous study, EU remain bullish at weekly, daily and 4H chart. Target at 1.4611 as partial profit taking remain as it is. EU has the possibility to make bearish retracement before continuing to the immediate partial profit target. EU still moving in bullish uptrend channel.

Trade Idea :
No recommendation on a short or long. Wait and see either it can reach partial profit target area or not.

GBP/USD Analysis 2011-04-13

As per yesterday GU trading recommendation, the status of recommendation still remain but today GU forming a triangle pattern (sideway) at 1H TF. GU may want to test 1.6173.

Trade Idea :
Short Entry : 1.6270
Target Profit : 1.6173
Stop Loss : 1.6327

GBP/USD Analysis 2011-04-12

Weekly chart :
GU is bullish. GU may test Resistance 2 if Resistance 1 broken.

Daily Chart :
GU still above Kumo. GU move side way. Expanded triangle still happening. GU maybe want to test Kumo as resistance level.

4H Chart :
Can see GU reversed from long bearish candle. In this chart GU movement is neutral. Bullish but in retracement. GU may want to test Resistance 1 again.

1H Chart :
In this chart GU clearly move below Kumo but above TS and below KS. GU in retracement in 1H chart. There is a good sell entry that can be taken.

Trade Idea :
While waiting TS cross KS in 4H chart, trader may want to take risk on counter trend trading. By looking at 1H TF, trader may sell when GU closing bar cross TS and target profit (TP) at Daily Kumo. Wish all traders good luck and gain a lot of profit.

Daily Update 2011-04-11

EUR/USD

Weekly : Bullish
Daily : Bullish
4H : Bullish
1H : Bullish, Retracement is progress. Kumo as support.
Trade Idea : Enter long when TS cross KS at 1H with stop loss. To those who familiar with hedging and good at money management, can use hedging strategy if price move south.

GBP/USD

Weekly : Bullish
Daily : Bullish
4H : Bullish. GU testing Resistance 1. Refer previous chart.
1H : Bullish, Retracement is progress. GU currently above Kumo but TS still below KS.
Trade Idea : Enter long when TS completely cross KS at time frame 1H. Put stop loss depend on your money management.

GBP/JPY

Weekly : Neutral
Daily : Bullish. Testing Resistance 1.
4H : Bullish. Retracement in progress. GJ move in flat pattern.
1H : Bearish. bearish retracement. GJ below Kumo.
Trade Idea : Can trade both side. Long or Short. If short trade, suggest to put target at 4H Kumo. If long trade, suggest not to put target profit as GJ tend to move toward Resistance 2. Refer previous weekly chart.

USJ/JPY
Weekly : Neutral.
Daily : Neutral. Testing Resistance 1.
4H : Neutral. Retracement in progress.
1H : Bearish.  
Trade Idea : UJ near Kumo. Not recommended to open any trade until a good trade setting appear. If to open trade at 4H, wait until UJ cross above TS and KS for long trade. If to open trade at 1H, wait for UJ to retrace at time frame (TF) 1H from bearish for short trade.


EUR/JPY - Chart to be posted later.
Weekly : Neutral.
Daily : Bullish. Resistance 1 already broken.
4H : Bullish. Retracement in progress.
1H : Bullish. EJ currently at Kumo. Kumo as Support is on testing. 
Trade Idea : EJ at Kumo in 1H TF and suggest to enter long when TS cross KS and EJ higher than previous high (123.28).

Happy trading to all. Wish you all success.

EUR/USD Analysis 2011-04-08

EU is moving to partial profit target. If EU reach this level, traders should take some profit and let the rest moving upward to Resistance 2 level. EU is above Kumo and TS > KS on weekly, daily and 4H chart.

Trade Idea:
Recommended to wait for another retracement next week before opening new long trade. Suggest to refer 1hour chart and make sure EU still above Kumo.

GBP/USD Analysis 2011-04-08

Target profit at Resistance 1 already reached. At this level, some traders lock profit. We also should have done that. On daily chart, price still moving around Resistance 1 as many traders testing this level.

GU is creating the expanded triangle. We will soon see GU breakout the Resistance 1 or Support 1. At this moment, long trade is more preferable compare to short trade.

On 4H chart, price still above Kumo and TS above KS, thus bullish still strong.

Trade Idea:
Not recommended to open any trade at this moment. Look for new long entry next week either after price above the resistance 1 or below resistance 1 (crossing of TS with KS or GU bounce once touched KS at 4H chart and move above TS).

Gold Chart 2011-04-07

Gold long term trend is strongly bullish. Many traders or investors already long for gold. Gold price is above Kumo and TS is above KS. A sign of strong uptrend. Price is almost near the channel trend line. The price still have room to go up.

GBP/JPY Analysis 2011-04-07

There is nothing much happening on weekly chart. GJ remain in neutral position as long term bearish is weak. On daily chart, trader should take some profit as GJ reach Resistance line. GJ moves sideways for today up to this moment and trader can assume mid term trend is bullish.

However, we can see clearly GJ now move below Tenkan Sen and we can conclude that GJ in correction or retracement. A range box is drawn to see whether GJ can break the immediate support and resistance. Traders may want to use Fibo retracement number to target the price maybe at 61.8%.

Trade Idea:
Let GJ finish the retracement before setup a long entry. Two ways of entry setup are suggested.
1- Put buy stop slightly above box and stop loss slightly below box.
2- Make a long entry if trader see Tenkan Sen cross Kijun Sen.
However, we are fully responsible on how we trade. Idea above is merely suggestion.

Good luck.

EUR/USD Analysis 2011-04-06

EU already broke the Resistance 1 on weekly chart. This a good sign of bullish trend is continue.

On daily chart we can see EU nicely broke previous peak in 22nd Mar 2011.

On 4H chart EU moving out from 4H range trading (Flat trend).

Trade Idea:
Recommend to wait for correction before long. Recommend to make entry at 1H time frame. Not recommend for short/sell trade.

GBP/USD Analysis 2011-04-06

On daily chart, GU has already reached short term target. Thus we can take partial profit and let the balance lot ride the wave for some more profit target at Resistance 1. GU above Kumo, thinking only long trade.

On 4H chart, GU doesn't show she want to retreat at this moment. GU may wants to test Resistance 1 before continue bullish.

Trade Idea:
Look for long trade. No proper setup at this moment. Should wait for correction before entry.

GJ Analysis

As of today, we see GBP/JPY (GJ) almost break the Kumo. Weekly chart tell us that bearish is almost over. As price move strongly and touched resistance line that was drawn last week, new resistance line number is drawn. Refer new chart.

On daily chart we can see the bullish is very strong as price far away from kumo. This is good indication of reversal from bearish trend will soon become real for long term trend.GJ has reached the Resistance 2 line as per last week chart (Now become Resistance 1, today's GJ chart.). It is good to take partial profit this time.

On the 4H chart GJ we don't see any correction. GJ may soon make a correction before continue bullish.

Trade Idea:
Good time to take partial profit. Wait for correction before enter new long.

USJ/JPY Weekly, Daily & 4H Analysis

In weekly time frame chart, USJ/JPY (UJ) is below Cloud or Kumo tell us the major trend is currently bearish. UJ still in downtrend channel.

In daily time frame chart, UJ is moving sideway between Resistance 1 and Support 1 but recently it breech the Support 1 and created Support 2. UJ is currently above the Kumo which suggest the price is in bullish territory.

In 4H time frame chart, UJ is strongly bullish and testing the Resistance 1 which was the lowest price in 22-Nov-2009 (Refer Weekly Chart). UJ is above Kumo which suggest trader can consider long rather than short.

  

Trade Idea:
Should wait UJ make a pullback before setup a long trade. Trade may want to look at 1H chart to fine tune the long entry.

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Ichimoku in Brief

The real name of Ichimoku is Ichimoku Kinko Hyo. A trend trading system developed by a Japanese newspaper man called Goichi Hosada with the help of many other students to fine tuned the formula.

Ichimoku encourage trader to have a ‘macro’ view of what’s going on rather than looking at indicators and moving averages separately. Trader can simply decide whether he wants to short, long, or even stay aside.

Ichimoku is make up of 5 indicators.

1. Tenkan sen
2. Kijun sen
3. Chikou span
4. Senkou Span A
5. Senkou Span B

However, most trader use a word 'Kumo' or 'Cloud' as a combination of Senkou Span A and Span B.

In this website, a standard MT4 Ichimoku setting is used.

Learn the Ichimoku trading strategy.

Happy trading. :)

GBP/USD Weekly, Daily and 4Hours Analysis

Weekly chart shows GBP/USD (GU) price has broken the previous peak level. GU are currently in trading range while waiting for a fresh fundamental news to push it higher. Price is above Ichi Cloud and bullish still intact.

Daily chart shows the GU has just come out of Ichi Cloud but below Kijun Sen (KS). It shows that strength is still bullish. Downtrend line resistance is also one that is strong enough to GU out of the bearish trend.

4H chart shows GU is below Cloud and trader should stay away from open buy until GU break Daily Entry Setup.

Trade Idea :
Wait until GU break Daily Entry Setup to open buy entry OR TS cross KS to open sell entry.