FOREX.TODAY

Tag: Stochastic

AUDJPY Trade Setup (Jan 26)
Profile photo of YJ Baik - Forex.Today by YJ Baik - Forex.Today
2016-01-26_18-42-23-AJ5
I have posted this AUDJPY trade setup several time, but finally it seems to be ready. The basic idea was ... Double Bottom + Higher High on H4 chart, and try to buy from the next Higher Low.   Now the price may be at Role Reversal Support, which potentially could be "Higher Low" that…
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Trade Setup EURAUD (Jan 25)
Profile photo of YJ Baik - Forex.Today by YJ Baik - Forex.Today
2016-01-25_15-16-39-EA1
EURAUD pair is at the interesting zone on H4 chart. The price is at Support for sometime, but Stochastic has crossed up and about to go above 25%. Looks like very interesting Buy. If we can get into this trade, we can expect up to WM4 (WM2 -> WM4). For the entry, we should wait…
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GBPJPY Trade Setup (Jan 19)
Profile photo of YJ Baik - Forex.Today by YJ Baik - Forex.Today
2016-01-19_15-06-55-GJ1
GBPJPY is approaching to the next sell zone. You may say "This pair has dropped so much!   It is going to go up soon?". Well, we should keep selling it, until it fails.  So far, the price is riding 21EMA on H4. Thus until it fails, we should respect it. Here is a H4…
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NZDJPY Trade Setup (Jan 18)
Profile photo of YJ Baik - Forex.Today by YJ Baik - Forex.Today
2016-01-18_12-56-57NZDJ3
Dear Carry Traders, I wish I could show you Long trade so that you can add one more Carry trade. But the trade setup I am posting today is Short trade.   Well, the market is Bearish.   What can we do?  :) Here is H4 chart.   The price is already coming up to…
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GBPJPY Trade Setup (Jan 14)
Profile photo of YJ Baik - Forex.Today by YJ Baik - Forex.Today
2016-01-14_17-15-54GJ3
I shorted GBPJPY from 21EMA on H4 yesterday. It was a good spot trade. If you are trend traders, you should continue to short from 21EMA (Daily, H4, H1 charts). However, let's zoom out, and see the bigger picture to see where we are. The above is the weekly chart.  Obviously something is going on…
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GBPAUD Swing Trade Setup Cont. (Jan 12)
Profile photo of YJ Baik - Forex.Today by YJ Baik - Forex.Today
2016-01-12_21-48-26-GA5
I kept posting about GBPAUD Short trade for sometime.  But we didn't see a big change until today. Finally the price dropped dramatically, and I think there should be another opportunity to enter this short trade, if you didn't short it. The basic idea of this Short trade was..  On Daily chart, trying to short…
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USDJPY Trade Setup (Jan 6)
Profile photo of YJ Baik - Forex.Today by YJ Baik - Forex.Today
2016-01-06_11-48-16-UJ3
Dear Traders, Happy New Year. I had a long Christmas-NewYear vacation. Now I am back in position, and monitor the market from Asia.   Yen has been super strong for a while, and I don't see any reason to change the bias. Perhaps we will need to see another Kuroda Bazooka, to alter the Yen…
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CADJPY Trade Setup (Dec 24)
Profile photo of YJ Baik - Forex.Today by YJ Baik - Forex.Today
2015-12-24_15-57-29-CJ2
Dear Traders, CADJPY has been in a nice downtrend. On H4, Stochastic has dropped from Overbought zone.  Also the current price seems to be at Role Reversal Resistance. Thus I am looking for the Short trade. However, on Hourly chart, Stochastic is already in Oversold zone. So how about waiting for the next down cycle…
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EURJPY Trade Setup (Dec 22)
Profile photo of YJ Baik - Forex.Today by YJ Baik - Forex.Today
2015-12-22_16-01-42-EJ3
I have Bear with EURJPY. Thus I have been shorting EURJPY from 133.45 based on Daily chart. (Short from MM4 + Role Reversal Resistance.  Also Blocked by Daily Ichimoku Cloud)   On Daily Ichimoku, the candle came up a bit, and approaching to Tenkan Line (Red line).  I am assuming either Tenkan Line or the…
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AUDJPY Trade Setup (Dec 18)
Profile photo of YJ Baik - Forex.Today by YJ Baik - Forex.Today
2015-12-18_16-34-05-AJ2
Daily Ichimoku chart of AUDJPY is very interesting.  So I have to share my trade plan.   The 2 candles in Daily chart are red, and now touching the top of the cloud. And I am hoping the cloud will serve as Support. On a regular Daily chart, the current price is touching the Role-Reversal…
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CADJPY Trade Setup (Dec 16)
Profile photo of YJ Baik - Forex.Today by YJ Baik - Forex.Today
2015-12-16_21-30-12-CJ1
I don't mean to suggest any trades today, before FOMC. But this chart (below) looks like typical Short setup for me.  So I cannot stop sharing this. CADJPY has been dropping for almost 2 weeks, and we see the first major pullback now, touching 21EMA and seems to be rejected a little bit. Stochastic is also…
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EURJPY Trade Setup (Dec 14)
Profile photo of YJ Baik - Forex.Today by YJ Baik - Forex.Today
2015-12-14_20-04-22-EJ1
I continue to be Bear with EURJPY pair. The biggest reason is Weekly & Daily Ichimoku chart.  (Please refer to my postings last week) Daily Stochastic suggests the price will go down further. Thus let's look for another sell zone. Looking at H4 chart below, you can see the price dropped again from Fib61.8%. One…
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GBPJPY Trade Setup (Dec 9)
Profile photo of YJ Baik - Forex.Today by YJ Baik - Forex.Today
2015-12-09_16-59-28-GJ3
I posted GBPJPY Trade Plan on Dec 7th, in which I talked about the possible Buy opportunity from the bottom of the range. Here we are today. The price already bounced from WM1, and Stochastic is looking up on H4. Interesting to see hourly Stochastic is also going up now. On Hourly, the price broke…
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EURJPY Trade Setup Cont. (Dec 3)
Profile photo of YJ Baik - Forex.Today by YJ Baik - Forex.Today
2015-12-03_14-17-43-EJ3
Unlike my GBPJPY setup yesterday, EURJPY was good, I thought. I sold this pair from 130.81, and still holding the trade.  I like H4 Stochastic going down.  So perhaps I will hold this position until Stochastic reaches to 25%.   We should not forget what Bull wants to do...  Bulls want to buy from Fib38.2-61.8%...…
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GBPJPY Trade Setup (Dec 3)
Profile photo of YJ Baik - Forex.Today by YJ Baik - Forex.Today
2015-12-03_13-55-30-GJ4
I thought it was a great Long setup yesterday with all Stochastic in sync. But it didn't work out.  The price continued to drop, and as a result, H4 Stochastic has not crossed up yet. Let's re-align the stuff. I think it is OK to say the price is still in the Support zone on…
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GBPJPY – Possible Congruence on Multi-Timeframe Stochastics!
Profile photo of YJ Baik - Forex.Today by YJ Baik - Forex.Today
2015-12-02_19-25-58-Stoch
We may see the Congruence on Daily, H4 and Hourly Stochastic soon. Here is the Daily chart. The price has just bounced from the support zone (and Fibonacci 50%).  The Stochastic has crossed and about to go above 25%.  (But not yet) On H4 chart, Stochastic is still in the down cycle.   But the…
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GBPJPY Trade Setup (Dec 1st)
Profile photo of YJ Baik - Forex.Today by YJ Baik - Forex.Today
2015-12-01_12-54-34-GJ3
Dear Traders, GBPJPY pair is now facing the thick Bullish Cloud on Weekly chart.   Also on Daily Ichimoku chart, the price is struggling in the cloud, but the exit is in sight.  I am expecting the bottom of the cloud will serve as Support.   Here is the regular Daily chart.   The current…
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