Heikin Ashi Forex Trading Blog.

Heikin Ashi - daily chart and hourly chart analysis! 12/01

We seemed to have got our target of 50pips yesterday, quite easily I must say as the news at 09.30GMT from BOE providing the impetus for a 50pips move within an hours time. Now thats What I mean by Turbocharged trading. But during the NY session, it seems to have recovered everything. Anyone trading both sessions would have been quite pleased to gather quite a few pips.

Daily Chart :

Heikin ashi daily chart seems to be at a crossroads and I dont see any real bullish or bearish move. Infact as posted yesterday, we will have to see a further break of yesterdays low to confirm a longer term move. Also keep a good watch to see if the cable can break on the upside above 1.7724.

Intraday chart :

We seem to be back into the volatility mode and thats good news for daytraders. With last 2 days prior seeing range bound movement, I am sure lots of people would be only glad to gather all the profits they can.
Prior LO, we have made a swing high and it seems we will again see another day of bearish move, if we see it breaking the 1.7628 swing point.
On the uppderside ofcourse we need to break 1.7700 for a further bullish move.

But I am bearish till NY open. As usual, we will go for a 40-50pips move. on break of either point.

posted by ProphetOfProfit @ 4:45 AM