I trade two basic techniques, one is a break out of consolidation and the other is entering on a pullback when price is trending .

My techniques can be used on almost any timeframe however I prefer the one hour and four hour charts using the daily chart for overall trend direction and the 30 minute chart to minimize the stoploss levels and pinpoint specific entries.

Just a short time ago, from the time of this writing, April 13, 2009, 1 p.m. New York time.
I have a confirmed bullish breakout candle on the four hour chart for the EUR/JPY.
Specifically, the move is a potential bullish breakout with a potential profit target of 136.00 and above.

The stoploss levels however would be quite large trading off of the daily or four hour chart so I prefer to wait and watch the 30 minute and one hour charts.
What I am looking for is a pullback to a support level, perhaps a psychological level, a fulcrum point or a Fibonacci retracement, and even a combination of these.

Once I have identified the retracement I look for a bullish candle pattern such as engulfing or morning star pattern at this support level. It will take a great deal of patience and discipline but I am specifically looking for a closed completed bullish candle pattern on the 30 minutes or one hour chart. I stress the fact that I only analyze closed completed candles as this eliminates jumping in to soon in anticipation of a substantial move. Waiting for the candles to close is an additional form of confirmation.

As time continues I will post another candle pattern when it develops on the 30 minute or one hour chart to signal a possible entry for this pair. I stress waiting for the pullback and looking for the bullish candle pattern before entering. This will allow for much more confirmation.

This same breakout technique is the one I used today on the EUR/USD which was a bullish trending move, April 13, 2009. The reason I look at the 30 minute chart is to minimize stoploss levels based on the most recent/significant price swing on that timeframe after I have an entry point.
My entry is on the closed completed candle pattern.

I am also including a chart on the EUR/USD trade that took place today.

Thanks for reading
Good luck