Thursday, July 31, 2008

Today's Candlestick View

Following 5 charts show some sort of pinbar. No engulfing candles today. All pin bar entries will only be opened after getting confirmation from next candle (just in time for my 1st August trade strategy then).

CAD/JPY - potential for short entry if the next candle closes lower than open.


EUR/CAD - Potential long entry if the next candle closes higher than open (preferably above the yellow trendline too).


EUR/USD - Potential long entry if next candle closes higher than open.


USD/CHF - Not sure if this one is a pin bar and the body is not small enough for me. But the fact that it returned from a resistant line could be interesting. Potential down move after next candle.

USD/SGD - Pinbar formation at swing high on an overall downtrend. A short potential if the next candle closes lower than open.


All these trades are only confirmable after the next candle close. So no trades open for now. Will update these tomorrow.

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