Keep the blue line in mind if you want to go in with buy order.

Its a long time support trend and can bounce back the price if it happen to decent to under the channel lines in order to complete the triangle pattern.

So set your stop losses accordingly, or you can use martingale method and put in trades in part at different entry points and exit as soon as they hit your targets.

Keep the 1:3 ratio and you will come out on top 😎

I increased my volume for EURGBP. I have a good feeling about this one 😋

EURGBP - the triangle pattern is now complete. but considering the news, this can break out in either direction, so wait for a breakout and then trade on the pullback just to be safe.

CADJPY - possible buy entry - cadjpy is forming a flag pattern in the middle of the triangle pattern, so if the flag reaches its target the triangle pattern will be completed as well.

so.. if the price bounced back from the resistance line 84.000 you can enter a buy position for the target of 84.745

put your stop loss behind the resistance line 83.800

GBPUSD - Watch List

there is a triangle pattern on the 15 minute chart, which can break out and move up till it reaches its target.
also on the 5 minute chart, there is a triangle pattern which can break out and move up as well.


but also, there is a possibility of a double top pattern forming on the 5 min chart. so keep an eye on the chart and as soon as it made its move, you can go in with your trades.

EURGBP - its on the move up towards its targets, but since its the last day of the week, I suggest you close most of your positions as soon as the price reached the blue line on the chart, and you can keep an small part of your positions and hold them over the weekend.

GBPUSD - as you can see on the chart, it hit one of our targets which was the double top pattern on the 5 minute chart, and now its on its way to hit our other target which is the target of the triangle on the 5 minute chart.

and hopefully it moves up beyond that towards the target of the triangle pattern on 1hr chart.

one thing to keep in mind, when you have a chart like this with two relatively small targets opposite one another, one method you can use is hedging.

for example, here you could have opened two different positions of buy and sell at around 1.27200 (the neckline of the double top pattern)

I will post a tutorial on hedging very soon.

EURGBP has reached the blue line (short time resistance trend) and if you don't plan on holding your positions over the weekend, its better to get out now, or set your trailing stop 5 pips behind the current price, and check back on it one or two hours before the market closing time and close your positions then.

Sorry for being late to the party guys, I had some personal problems, but I will be online in two hours to share the charts I have analyzed. I hope all of you have studied the hedging and martingale methods and are ready to use them on this weeks trades. If not, go and study them right now.

See you in two hours.

This is how I see the Gold chart. as you can see its very close to the buttom of its channel on 8hour chart.

if you look closer, you can see that its trying to touch the buttom of the channel, so the price will probably fall to around 1238.00 very soon

today I want to talk to you about trends and patterns..

most of my trades are based on either a pattern which is forming on the chart in front of me, or a pattern that has formed before and I want to trade the break out of it.
also, I like to use the opportunity of trading swing highs and swing lows as safely as possible, so I always keep an eye on all trends on my chart. broken or not, I like to have them around all the time in a separate window, just so I can adjust my targets and stop losses accordingly.

I need to show you guys an example, so you can better understand how this works.. so I'll send a pic in the next post, and then explain the logic behind how I trade small movements (less than 30 pips)

This is the GBPUSD chart which I analyzed about a week ago I think.. as you can see, I was following a series of triangle patterns on the 30 min and 1 hour chart. but there is more to it than that...