Different Successful Trades Using Forex Alligator and Candlestick Patterns on April 19th, 2009
Forex USDCAD is trending up when the market opened on sunday as there is good gap between the forex alligator moving averages and the slope of all the moving averages is up. The market retraced back and at aroung 7PM EST time it formed a bullish engulfing candlestick pattern. The white candlestick completely occupied the red candlestick. I entered the forex market at 8 PM EST time and bought the currency pair with a stop loss of 15 pips below the bullish candlestick formation(total stop loss is around 40 pips) and a take profit target of 50 pips. It hit the take profit after around 8 hrs. This is a 1:1 trade.
At the same time when the USDCAD formed the engulfing pattern there was another pair formed the engulfing pattern, which is GBPUSD. But here the trend is downwards. There is a good gap between all the moving averages and at 8 PM EST time, the red candlestick completely occupied the white candlestick on the first green moving average line. This is also another perfect formation. I entered the trade at that time (at 9 PM EST Time) and stop loss above 15 pips of the engulfing candlestick formation which is around 60 pips. Since GBPUSD is a great moving pair which moves around 150 pips a day, I used my take profit for 100 pips. It hit the take profit after 8 hours.
At the same time another pair formed an engufing pattern which is NZDUSD. Here also the trend is downwards. Enough gap between the forex alligator moving averages. Forex engulfing pattern is formed on the second moving average line which is red line. I entered the trade at after the candlestick is completed and got 50 pips profit on that.
Forex EURUSD trend is downwards. There is a big gap between the three moving averages and the slope is downwards. At 1AM EST time, an engulfing pattern is formed. The red candlestick is completely occupying the white candlestick. So I entered the trade after the candlestick is completed. I entered the forex market at around 1.29965 and sold the pair. I used the stop loss around 15 pips about the engulfing formation which is around 1.30313, which is around 34 pips above my entry. Take profit around 50 pips and it hit the take profit after 7 hours. Check the following picture.
Forex USDJPY trend is sideways when the market opened on sunday. Then it took downward direction and retraced back and formed a bearish engulfing candlestick pattern at around 5 AM EST time. This is a really very good formation. I could not enter the forex market as I was sleeping at that time. But if I entered the market I would have grabbed at least 50 pips on this pair with a stop loss of 40 pips, which will become around 1:1 trade.
There are also other pairs that formed very good candlestick formations with forex alligator indicators but I did not take some of them as I was sleeping at that time. The following are some of the examples.
eurjpy-forex-alligator-and-engulfing-candlestick-formation-in-a-downtrend
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CHFJPY Forex Alligator And Engulfing Candlestick Formation In a Downtrend
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Good topic
Hi,
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