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👮Linorth 🕵

if it fails in breaking the decending trend, it could be a good entry for a sell order.

of course its not a very reliable trend, since its a short time trend on 5 min chart. so keep that in mind if you want to go in with a trade.

I made another 20 pips on Gold, and now have reached my 100 pip daily quota. so I probably won't do anymore trades unless I see a good pattern or setup. in which case I will share it on this channel here as well.

if you are still on the Gold chart, there is a possibility of a double buttom pattern forming (why I closed my positions earlier), so be careful.

USDJPY - if it touches the decending trend line I have drown, it will confirm the channel. I'm guessing today's news will help it to rise fast and touch the trend line and probably reverse after that

pattern didn't form, now its safer to say it will keep falling down.

I love triangles! lol

the price can play around a lot before it reaches the final destination of the pattern or the channel. so just use the patterns, channels and trends as a tool to find out in which direction the market is moving forward, and set your trades in that direction. for example, when the price of the gold is going to fall, it wiser to get in on setups for sell orders, since the chance of them failing is a lot less than buy setups.

I have a buy position open on USDJPY at 112.430 and I plan on keeping it for the news on USD in the next hour.

USDJPY = we also have this channel in place, so today's news can either push the price up and it will break this channel and move higher, or it will fall dramatically down :P

I'm still keeping my buy order open tho!

it wasn't as big of a jump as I hoped, but I'm not gonna be the one complaining about my profits being lower than what I want them to be! 😄

As I predicted, it hit 1240.00 in less than 24 hours!

please share the posts of my channel to other traders you know, so it can grow faster and I get motivated to post more often. thanks.

EURUSD - Sell - Entry 1.14420 - stop loss 100 points - target 300 points. ( it started moving before I have the chance to post this, but I'm sure it will bounce back up again very soon.

price seems to be reversing on the resistance line of 1.14450 , so if it bounced up again close to that area, go in with a sell order and put your stop loss a bit above 1.14500 resistance line.

there is also this acending trend on the chart, so you might wait and see if it manages to break it or not, and if it did break it (breaking through the 1.14250 support line) you can sell it there

always put your stop loss behind a resistance/support line and your target before it. so it would be harder for the price to hit your stop loss and easy for it to hit your target and don't reverse before hitting it.

Gold - we have a channel in 5 min chart and a triangle pattern on 1 hour chart.

triangle pattern is in its 5th wave (if I'm not mistaking) so it probably should touch the top of the pattern before it can move down for the sixth wave. and since its not that far into the 5th wave, it could very well be considered as a part of the 4th wave, so its really hard now to decide in which general direction the market is moving (based on technical analysis alone, I mean)

so I personally won't go in with a trade on gold, for at least another 8 hours. I'll wait and see if it creates a fifth wave and if it does, I'll probably get in on the sixth wave, ot if happened to move down again and continiue the forth wave, I will wait for the break out of the pattern and trade that after the pullback.