pavan15589

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About me I trade with passion to pile up funds for my other passion.. Note: I am not an expert & my trading experience is just over 7 months now. I post my charts for feedback and not as an advice...
Joined India
With more trade educaiton comes longer consolidation....
Markets Allocation
94 % forex 6 % other
Top Mentioned Symbols
EURGBP 13% | 5 EURUSD 11% | 4 AUDUSD 11% | 4 GBPJPY 11% | 4
pavan15589 pavan15589 EURUSD, 240, Short ,
EURUSD: EURUSD - Incoming Short
114 0 6
EURUSD, 240 Short
EURUSD - Incoming Short

So..!! What is EURUSD doing on 4 hours chart..? After a drastic fall to the new lows of the year, the pair found a support on thin air and pulling back. Now this pull back is evidently weak and is heading towards a minor sell level. How to engage...? Selling the pair at around 1.05210 region gives a really awesome Risk to Reward. It's always better to wait for ...

pavan15589 pavan15589 EURCAD, 240, Long ,
EURCAD: EURCAD - Long - Short Term Trade
57 0 1
EURCAD, 240 Long
EURCAD - Long - Short Term Trade

With EURCAD having headed a long way down has seen a slight support around 1.3000+ region. The region seems to have held really will with impulse buying. Observing the Price Action on the pair, we saw an extremely strong selling from point '1' on the chart which happens to be a rejection from ST Resistance 2. Further, as the pair progressed through time, the ...

pavan15589 pavan15589 EURGBP, 60, Long ,
EURGBP: EURGBP - Buyers Scrambling
31 0 1
EURGBP, 60 Long
EURGBP - Buyers Scrambling

Looking at the price action on the EURGBP, there seems to a breakout in sight. Considering the recent price action on the 1 hr chart of the pair, we can see that the pair, after making a touch on 20EMA at point 'A' ran up to .73600 region at point 'B' only to stop and reverse. Further, we could see that the pull back following this impulse move kept getting ...

pavan15589 pavan15589 USDJPY, D, Short ,
USDJPY: USDJPY - Bears Scrambling
36 0 1
USDJPY, D Short
USDJPY - Bears Scrambling

It looks like USD and JPY are playing ball with each bounce weaker than prior. If we look at the price action on daily, it is evident that the pair is resting its support on a constant floor making lower highs with successive bounce. The squeeze is getting tighter as the pair is leveling on the support. Even when US is fundamentally strong, it is failing to gain ...

pavan15589 pavan15589 USDCAD, D,
USDCAD: USDCAD - Rally is Technically Exhausted
156 0 0
USDCAD, D
USDCAD - Rally is Technically Exhausted

USDCAD has had a long rally which started back in June last year. After nearly 3 quarters of run up the hill, the price action shows signs of an evident reversal. How can reversal be expected at the highs ? Studying the price action, we could see that the pair has had a very consistent uptrend for a long time with consistent pull backs and trend resumption but the ...

pavan15589 pavan15589 XAUUSD, 60, Long ,
XAUUSD: Gold - A Breakout to the Upside
60 0 2
XAUUSD, 60 Long
Gold - A Breakout to the Upside

The new year pushed gold up finally breaking the long consolidating descending channel which was evident for long. And since then, Gold never looked down and kept the climb up extremely powerful. After a fortnight, we have finally observed a little breather on the instrument. Looking at the price action on it, we could see that gold almost double topped with the ...

pavan15589 pavan15589 GBPJPY, 240, Short ,
GBPJPY: GBPJPY - Corrective Action
66 0 1
GBPJPY, 240 Short
GBPJPY - Corrective Action

The pair has witnessed a big move down since December and now showing a corrective pull back forming an ascending channel. The classic result of an ascending channel is a break towards the downside falling back in trend. To make this more conclusive, another parallel line is drawn right in the middle of the channel. This shows us the amount of time the price has ...

pavan15589 pavan15589 AUDUSD, 240, Short ,
AUDUSD: AUDUSD - Consolidating Channel - Short to join the Trend
48 0 1
AUDUSD, 240 Short
AUDUSD - Consolidating Channel - Short to join the Trend

The pair after a strong move down has been in a corrective consolidation forming an ascending channel. If anything this pattern tells us is that the pair is not finished picking its bottom. Also, looking closely at the price action on the 4 hour chart, we can observe the evident struggle on the pair already with more rejections from the top as it reaches the 38% ...

pavan15589 pavan15589 AUDCHF, 60, Long ,
AUDCHF: AUDCHF - All eyes on Bulls
25 0 2
AUDCHF, 60 Long
AUDCHF - All eyes on Bulls

The pair has had a really great up run in the past few days. With yesterday's action bringing a slight relief to the run with a good bear candle, the bulls have again taken control of the pair... After a nice little pull back, there has been a gradual change of hands from bears to bulls which is evident in the price action. The first being the first pin bar ...

pavan15589 pavan15589 XAUUSD, D, Short ,
XAUUSD: XAUUSD - A descending channel - A Short
225 2 3
XAUUSD, D Short
XAUUSD - A descending channel - A Short

Gold has been in a descending channel for a really long time and currently it has bounced back down from the resistance of the channel. As the price action has strongly stayed inside the channel without any signs of strength to push for a breakout on the higher or lower end, a short is a viable idea on gold with targets at half way point from the resistance while ...

pavan15589 pavan15589 AUDUSD, 240, Short ,
AUDUSD: AUDUSD - 40 Pipper pre-breakout.
48 0 0
AUDUSD, 240 Short
AUDUSD - 40 Pipper pre-breakout.

AUDUSD has headed up into a strong resistance on the 4 hours and also a key level on the daily chart which adds up to the strength of the level. The double bottom launched a rally of about 150 pips with a nice risk to reward ratio, giving a chance for a small counter trend play before a possible breakout. A short on the pair upon signs of any weakness is a very ...

pavan15589 pavan15589 NZDUSD, 240, Long ,
NZDUSD: NZDUSD - Bears handing the pair to Bulls
75 0 2
NZDUSD, 240 Long
NZDUSD - Bears handing the pair to Bulls

While the daily chart on the pair does not show any signs of the direction of the pair, dissecting it into 4 hours time frame gives a beautiful price action. The pink rectangle shows a potential reversal area of the pair going back to June of 2013. This may probably give us a chance to keep looking at the pair, what gives us a little more reason to take a position ...

pavan15589 pavan15589 AUDNZD, 60, Long ,
AUDNZD: AUDNZD - Pipping from a probable breakout
80 0 4
AUDNZD, 60 Long
AUDNZD - Pipping from a probable breakout

AUDNZD has stayed in a non-volatile consolidation for a really long time. The long tails at the top and bottom of the candles indicate the low volatility of the pair. Observing the price action, the pair has been consistent in its behavior giving us a lot of clues of its intention along the way. These clues may be hinting towards a classic Cup and Handle formation ...

pavan15589 pavan15589 AUDJPY, 60, Short ,
AUDJPY: AUDJPY - Probable bear following the consolidation
74 0 1
AUDJPY, 60 Short
AUDJPY - Probable bear following the consolidation

AUDJPY has made a strong move down for several days. For nearly a month to be precise. Following the downward impulse is a consolidation which has constantly left clues that shows the possibility of a further move down. Orange line 'A' shows the resistance off which the price has been repeatedly rejected while the orange line 'B' shows the support off which the ...

pavan15589 pavan15589 NZDUSD, 60, Short ,
NZDUSD: NZDUSD - Ascending channel suggesting a descent
145 0 2
NZDUSD, 60 Short
NZDUSD - Ascending channel suggesting a descent

After a nose dive on NZDUSD, an ascending channel with trendlines 'AC' has formed on the pair with price leading up to the previous resistance. The current rejection off the previous resistance which also intersects the ascending channel's upper line shows the strength of the bears on the pair. The classic result of an ascending channel is a break towards the down ...

pavan15589 pavan15589 USDCAD, D, Short ,
USDCAD: USDCAD - Short as the ABCD completes
184 2 3
USDCAD, D Short
USDCAD - Short as the ABCD completes

Three aspects that gives a short signal on the pair. The first being the pair completes a full AB=CD pattern with giving a short signal to catch a good number of pips on the retracement back to .382 or probably even .5 of CD. Second to back the short signal is the price has just hit the resistance on the daily chart evidencing a neat rebound of the level. Third ...

pavan15589 pavan15589 GBPJPY, 60, Long ,
GBPJPY: GBPJPY - A Probable Long
230 6 4
GBPJPY, 60 Long
GBPJPY - A Probable Long

Price Action Talking The GBP has taken a dive down since its peak on 19th of Septemeber.... We could see the key levels encircled with green color.... It took a really strong bull candle to break the key level on the 18th of September which then lead to a new high of 180.692 before taking a dive back down. As the price dove back down, we could again observe the ...

pavan15589 pavan15589 NZDJPY, 60, Long ,
NZDJPY: NZDJPY - Channel Breakout - Long
123 1 1
NZDJPY, 60 Long
NZDJPY - Channel Breakout - Long

NZDJPY has formed a descending channel. The descending channel is a price action that usually results in a breakout to the upside. Though this classical pattern always is self-fulfilling, we may use another technique to confirm the breakout direction. Whenever there is a channel formation, descending or ascending, a third line parallel to the channel can be drawn ...

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