The EURJPY broke down from its rectangle chart pattern in the 3-hour chart last February 24 (click here to see) as for my technical analysis. And usually upon breakdowns, the price has higher chances to continue going down and vice versa for breakouts. As a result, EURJPY’s value was dropping for 2 days and 150 pips was easily achieved for those who shorted.
A potential breakdown from the symmetrical triangle chart pattern triggered me to short sell the EUR/USD of the forex market again @1.3571 after my trade hit the stop loss earlier. Stop loss is currently set @1.3635 (64 pips) as for my technical analysis. Updates:12pm 12-25. Took profits as seen on the right image in the 15-min time-frame. 118 pips up!
Forex market: The image on the left is a 3-hour chart of the fiber or the EURUSD currency pair and the price is trying to breakout from its downtrend, once the downward trading range’s resistance is broken another good entry awaits as for my technical analysis. On the right is also an image of EUR/USD but in the 30-min time frame and just when it broke out from a inverted head and shoulders chart pattern, I went long.
Bought EUR/USD @1.3661. Stop loss email@example.com (43pips). Initial target price @1.3782 (121pips).
Updates: Stop loss moved to entry price was hit. Trade was break even.
How would you like it if you can simply turn on your computer, activate your webcam and meet hundreds of random people on the net? Today, meeting new people can be just as easy as downloading emails with video chat platforms such as www.chatroulette.com.
The Upside: Can be good for meeting random people. If you’re bored or just want to try something new, you might want to try your luck video chatting someone (I personally wouldn’t waste my time on this but I tried it). If you don’t like who you’r chatting with then just click the “next” button and another person comes out in just few seconds. If you don’t want to be seen then don’t activate your webcam.
The Downside: The name ‘chat roulette’ already suggests randomness, or a gamble if you will. If you’re a guy looking for ladies, it won’t be that easy because 98% of the time you’ll meet sausages. Contrary to that, if you’re a lady who wants to meet guys then you might want to hit the website and try your luck in meeting someone interesting.
Trans-Asia Oil and Energy Development Corporation or TA as listed in the Philippine stock market seems to be forming an ascending triangle chart pattern as indicated by the red diagonal lines. As for my technical analysi, a breakout from the resistance line would be my ideal entry for this stock. However, could it also be a trading range or a sideway consolidation? Yes, but if the price passes through the resistance line (upper diagonal line) with a sudden surge of volume and the 1.54 Philippine peso minimum target price is reached in a short time then I’d have to change my answer to “No”. Take it easy trading! (“,)
Updates:4am 2-19. Resistance had been broken. I now move my stop loss to my entry price.
Updates:11am 2-19. Price went back it of the resistance line. Stop loss hit. Trade was breakeven.
We have here charts of EUR/JPY of the forex market in two different time frames. On the left is the 3-hour chart with a 1-month time frame of the currency pair and had broken out of the downtrend’s resistance last Feb16. It’s currently moving on an ascending price channel and may seem bullish. The image on the right however is the daily chart with a 1-year time frame and what looks to be an upward trading range in the 3-hour time frame seem to look like a rising wedge for the dailies of EUR/JPY. Still, it can be either one of those and can only be confirmed by a breakout or breakdown.
A few hours after my USD/JPY of the forex market short sold trade was cut, I decided to re-enter. Instead of going short, I now went long since USD/JPY seems to have broken out of the downtrend‘s resistance line in the 3-hour time frame. My entry price is 90.15 and my cut loss is 89.90.
Updates:11am 2-17. Moved my stops to my entry price of 90.15
Updates:7pm 2-17. Took profits, 35 pips up.
Updates:11pm 2-16. I have now moved my stop loss at my entry price of 90.12 to prevent further loss.
Updates:10pm 2-17. My stops placed at my entry price was hit. This trade was break even.
The USD/JPY of the forex market in the 1-hour time frame (left image) shows an uptrend. Looking at the 3-hour time frame (right image) however changes the whole picture, instead of an ascending price channel, we might be seeing a rising wedge. Despite USD/JPY’s unpredictable direction, it’s still a good currency pair to look at since a break out from the downtrend in the 3-hour chart is a good buy and a breakdown from the possible rising wedge on the other hand would be a great time to short sell.