After a sell off USDCHF tested S2 Pivot point (1.1504).  We buy 2 pips + spread above the S2 and place stop loss 2 pips below the low of the test.  A 20+ pips profits is realized during the first 15 minutes.  More patient trades could gain 70 pips from this trade.

On 1 hour chart EURUSD is testing teh 50 period Exponential Moving Average which is a very could level of support or resistance.

We move on a lower time frame (15 minutes) to look for better entry point.  A double bottom pattern is forming which means that the market is bottoming and preparing for rally.  A hammer candlesticks reversal pattern will be our entry point. We place buy stop order above the high of the hammer @ 1.2902 and a protective stop loss below the low @ 1.2871.  You can see that a very nice rally follows and depending on our position management rules we cane make a profit of 30 to 180 pips.

GBPUSD makes new high but as you can see the MACD is not confirming this. We place sell stop order 2 pips below the previous high and protective stop @ 1.4781. You see that the reversal is sharp and it is better to take 20 pips profit or use trailing stop.

A Hanging man Candlesticks reversal pattern forms on the 15 minutes chart. We place a sell stop order below the low of the pattern @ 1.2820. After the position is opened a protective stop loss order is placed @ 1.2840. We close the position at the mid Bollinger band @ 1.2790.

The Stochasticks oscillator is one of the best tools for ranging markets. Before the release of the Non-farm Payrolls report on 02/06/2009 USDJPY was in consolidation. The Stochastics crossed above 80 and indicated that the market is overbought and is due for another move down. We place a Sell stop order below the low of the signal candle @ 91.32 with a protectvie stopp loss above the high @ 91.55.  In the next period we see the pairs goes down. We take our profits around the mid Bollinger around 91.10.

This is one of the best set ups – inside bar + NR4. As you can see a nice 50+ pips profit is generated.

There is a false break out above previous swing high here. It happens above the upper Bollinger band. It is a good place to enter short.

Short entry is 2-3 pips below the swing high. Stop Loss – 15-20 pips above the swing high. Target – near to the Bollinger middle line.

This time we have reversal candlesticks pattern at the upper Bollinger band confirmed by CCI signal. A nice 60 pips profit is gained for 45 minutes.

In this case MACD is below the 0 line and shows that the market is in a downtrend. After a retracement the Stochastics goes above 80 level which shows overbought conditions. %K crosses %D above the 80 level and we place sell stop order below the low of the signal candle.  After the position is opened we place stop loss order above the high of the signal candle (in this case the stop should be @ 1.1498 but we place the order above the 1.15 round number). As you can see a quick 30 pips profit could be made with this set up.

The round numbers are very strong support and resistance levels for USDJPY. When I sell near round number I open position a few pips (3 to 5) below the level.