Monday, October 31, 2011

SBI Technical chart | 31-Oct-2011

 



Here is a technical chart of State Bank of India, list on Indian stock market. I've used the famous Ichimoku indicator to expalin the chart.


 


 


 


 


 


 


 



 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


As clearly visible in the chart, the price is trading below kumo. The range between Rs.2000-Rs.2200 is the no-trade zone. That means the price may give bullish breakout after Rs.2000 level or bearish breakout below Rs.2000 level. So, it is advised to ignore this stock at this moment and sit on cash. Wait till it CLOSES above Rs.2200 to buy it.


Wednesday, October 26, 2011

EURUSD technical chart | 26-Oct-2011

Here is a technical chart of EURUSD currency pair on Doda-Donchain and Doda-Bollinger Bands indicator.



On 21-Oct-2011, Doda-Donchian gave buy signal with Doda-Bollinger Bands @1.38087 and till now, it resulted on a profit of more than 100 pips. But one thing is here on which I'm not comfortable - the flat line of Doda-Donchain. That means, price may come to this level and kiss it. The level is at 1.38073. So, watch this level carefully for immediate support for it.

Nifty technical chart | 26-Oct-2011

Here is a technical chart of Indian stock market indice Nifty using Ichimoku indicator.



On one side, DowJones has crossed Kumo (as explained in my previous article) and on other side, Nifty is preparing to touch kumo today. Most probably, Nifty will touch the level of 5232. It's difficult to close above this level at one go. But surely, it's setting stage for it kumo breakout. Once that happens, one can take long position in Indian stock market for the next leg of bull market with a stop loss on kumo.


We'll analyze Sensex chart also in next few days as it's still far from kumo level.

DowJones got support on Kumo | 26-Oct-2011

 


In the last trading session, DowJones saw a change of -1.7%. Let us see its technical chart using Ichimoku indicator.



As you can see clearly on the above chart, price touched the level of kumo 11682, which itself is a line of kumo. That means, kumo level is acting as a string support for DowJones. And till DowJones is above this level, we're in bullish market. It's time to take long position here with a stop loss of kumo figure. If it closes below this level, it's advised to close your positions and sit on cash. Simple strategy!

Saturday, October 22, 2011

DowJones gives bullish breakout | 22-Oct-2011

 


Here is the updated technical chart of DowJones using Ichimoku Kinko Hyo indicator.


 


 


This is the perfect example of bullish kumo breakout as per ichimoku indicator. The Price CLOSES above kumo as well as Chikou Span (CS) also managed to CLOSE above kumo. That means both the major components have been able to cross the major resistance.


Now, one can take long position here with a stop loss of kumo figure i.e. 11676. Don't forget to close all your short positions at this stage, if any. Will update next chart in next few days.

Friday, October 21, 2011

EURUSD Technical Chart | 20-Oct-2011

Here is a quick summary and strategy for current EURUSD currency pair trading.



Doda-Donchian and Doda-bollinger bands both have given Sell signal at current levels. But look at the chart carefully. EURUSD is trading inside / near kumo levels, which itself is a high resistance / no-trade area. So, avoid Short selling at these levels and watch the next signal if the price closes above Doda-Donchian, confirmed by Doda-Bollinger bands.


On the downside, I would recommend short selling here if the price CLOSES below kumo.

Sensex Technical Chart | 20-Oct-2011

Below is the technical chart of Indian stock market indice Sensex (BSE) using Ichimoku Kinko Hyo indicator.


 



 


Sensex has been moving in the range of about 16500-17200 from the last few trading sessions. It's not going anywhere. If you see the chart carefully, you'll aboserve that price is trading INSIDE kumo (the blue area of chart); which is a no-trade zone. One should avoid any call when price is inside kumo.


Now, 2 important points here.


1) The kijun-sen line is flat here. That means, it will attract price here. So, in next few trading sessions, Sensex may kiss the level of 16468.  2) On the upside, 17457. It should CLOSE above this level to show next bull run. Till then, sit on cash and wait for the right time for investments.


For those, who are new to Ichimoku indicator, you can see the tutorials and examples of same at DodaCharts Tutorials

Wednesday, October 19, 2011

DowJones Technical chart | 19-Oct-2011

 


Below is the technical chart of DowJones with Ichimoku indicator.



Like FTSE 100 chart explained in my last post, the same story repeats here. The price is trying to cross kumo, but bears are not allowing it. On the other hand, Kijun line is also flat. That means price can come down to the level of around 11000, which is its immediate support level. On the upper side, the major resistance, as shown by kumo, is at around 11,700. Watch these 2 levels carefully. Take long or short position ONLY if the price CLOSES above / below these levels.

FTSE 100 technical chart | 19-Oct-2011

From the last few trading sessions, FTSE 100 is trading in side-ways. Below technical chart of FTSE 100 with ichimoku indicator, that will explain everything.



 As clearly visible in the above chart, the price is trading near kumo area of Ichimoku indicator. It tried several times to close above this line along with Chikou Span (CS) line, but it failed. That clearly suggests that one should NOT take any long position here till the price along with CS line CLOSES above Kumo - which is the main resistance here. This level is around 5500-6000 zone.

Friday, October 14, 2011

NZDJPY technical chart | 14-Oct-2011

Below is the technical chart of NZDJPY with Doda-Donchian and Doda-Bbands indicators.



Here also, Doda-Donchian and Doda-bbands gave buy signal on 05-Oct-2011 and right now, the total profit is at about 226 pips. The major support level is at 60.8767 and resistance is at 61.851 and 63.5060.

EURUSD technical chart | 14-Oct-2011

Below is the technical chart of EURUSD with Doda-Donchian and Doda-Bbands indicators.



 


On 06-Oct-2011, both the above mentioned indicators gave Buy signal and it run in northern direction from there. At the time of writing this post, the total profit was about 351 pips. Now, the main support, target ann resistance levels as per different other indicators (not mentioned here).


Support: 1.3710 and 1.37503


Target and major resistance: 1.4059


 

Thursday, October 13, 2011

Gold setting stage for next bull run | 13-Oct-2011

Here is a technical chart of Gold with Doda-Donchian and Doda-Bollinger Bands indicators.



Both Doda-Donchian and Doda-Bbands have given buy signal on this chart. But here I've used Ichimoku Kinko Hyo indicator to show that even there it's bullish breakout. Seems, Gold is preparing itself for next bull run. Following are the major figures.


Stop-loss - 1630


Target - 1704, 1758


Resistance - 1692.08


Support - 1615.95

Wednesday, October 12, 2011

EURUSD Technical chart | 12-Oct-2011

Let's see and analyze the technical chart of EURUSD currency pair with Doda-Donchian and Doda-Bbands indicators. I've taken snapshot from MetaTrader Forex trading platform.



On 06-Oct-2011, both the indicators mentioned above gave Buy signal at around 1.34269. And after some resistance, as explained in my previous post, it went up.


Now, let's shed some light on currency strategy.


Although the price is rising, Doda-Donchian line is flat. That means it will attract price in coming hours. So, watch the level of 1.3470 now. The price may kiss this level to resume its upward journey.


On the upside, it will face resistance at 1.37057.


Hope it will help you.

Tuesday, October 11, 2011

DowJones technical chart with Ichimoku Kinko Hyo | 11-Oct-2011

Below is the explanation of DowJones technical chart with Ichimoku Kinko Hyo indicator



In the last trading session, DowJones closed @11433.18 and it may be seen bullish pattern from the last 4-5 trading sessions. But wait. As seen in the above chart, its price is trading near kumo area of Ichimoku indicator, which is a huge resistance area.


If you remember, DowJones tried to cross this kumo before also on around 16-Sep-2011 to 21-Sep-2011, but it failed then and price came down considerably from there.


So, one must take long call in this indice if and ONLY if the price CLOSES above kumo viz. around 11550 - 11600 area.

Monday, October 10, 2011

EURUSD technical chart using Ichimoku Kinko Hyo indicator | 10-Oct-2011

Below is the technical chart of EURUSD using famous Ichimoku Kinko Hyo indicator. You can also read more about this indicator under tutorials section of this website.



.Like Gold and silver, EURUSD is also trading near / inside kumo. Take buy call, if it closes above 1.34280. Wait till then. It's simple strategy. One should not take any position, if the price is trading inside kumo - the cloud.

Silver technical chart using Ichimoku Kinko Hyo indicator | 10-Oct-2011

Here is a technical chart of Silver using Ichimoku indicator. this indicator is very popular and is available with popular Forex trading platforms like MetaTrader etc.



Like Gold, as mentioned in my previous post posted few minutes back, Silver is also trading inside Kumo i.e. no trade zone. So, just relax, wait and watch it carefully. Take any position, if it closes above or below kumo. The main resistance and support lines have been mentioned on above chart.

Gold technical chart using Ichimoku Kinko Hyo indicator | 10-Oct-2011

Here is the technical chart of Gold using ichimoku indicator this time.


 


As clearly visible in the above chart, Gold is trading inside kumo - which is a no-trade zone. One should avoid any kind of trading at this stage. Consider it ONLY when the price closes above kumo or below kumo.


The support of Gold is at 1614 for the target of 1704.96 and 1752.05. The main resistance is at 1685.69 and 1692.08.

Thursday, October 6, 2011

Silver technical chart | 06-Oct-2011

Below is the technical chart of Silver with Doda-Donchian, Doda-Bbands and Ichimoku indicators.



Like Gold, the technical indicators gave Buy signal here also @30.31. Few important points to consider here.


a) The buy signal is given by Doda-Donchian and NOT by Doda-Bollinger Bands indicator. So, this is a weak or false buy signal and one should ignore it.


b) Looking through Ichimoku indicator, it is trading near high resistance area, popularly known as cloud, and will surely face tough resistance there.


So, do NOT take buy call here and wait to CLOSE above 33.36 on H4 time frame for any long position. Till then, wait and watch.


If it closes below 29.50, take sell call instead.

GBPJPY technical chart | 06-Oct-2011

Here is a technical chart of GBPJPY with Doda-Donchain and Doda-Bbands indicators.



Both the indicators gave Sell signal @119 area. Although it is moving in downward direction, it's major support level is @117.97. It will surely take support around this level and will bounce back. Watch that.

Gold Technical Chart | 06-Oct-2011

Here is a technical chart of Gold with Doda-Donchian and Doda-Bbands indicators.



Few hours back, both the indicators gave buy signal @1639.40.But if you've not taken any call here, do not buy Gold at these levels as it is trading near high resistance area. One should buy Gold ONLY if it closes above 1639 on H4 time frame. Make your stop loss @1602.


The major resistance areas are 1674 and 1690 and major support areas are 1614 and 1533. Watch all these levels carefully.

Wednesday, October 5, 2011

EURUSD technical chart | 05-Oct-2011

 on Here is a technical chart of EURUSD currency pair with Doda-Donchian, Doda-Bbands and Bbsqueeze dark indicators.



The above mentioned indicators gave sell signal on 30-Sep-2011 @1.35205. This was already expected as mentioned in my previous posts, where I suggested not to take any long call and not to miss any short sell signals in EURUSD.


Now, after giving signal, this currency pair started its downward journey and at the time of writing this post, giving a total profit of about 230 pips.


Now, watch these levels carefully as during these levels, EURUSD will surely take some break. The important levels are 1.3240, 1.31250 and 1.31640. These are important support levels and targets for shorter time frame trading.