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.

if you took this trade with me, lower your stop to 80 points and set your take profit at 160 poinst.

its ok if you close this one at around 15 pips too. its in a high risk area anyways.

price movements aren't as strong as I hoped, so feel free to close this one on breakeven. I think its wiser for now to go in with bulls instead of bears.

price will probably jump up to around 1.1500 and it will most likely reverse after that.

NZDUSD - Price is in a critical area. it has finished a triangle pattern on the 8H chart and it can either break it and move further up or reverse and fall down.

I personally expect it to fall down. so I have a sell limit order in already at 0.73550

In case anyone wants to take the trade with me, my stop loss is 0.74311
And I dont have a take profit set on this trade.
Its a very low volume trade that I go in for the fun of it. And I let the tp open in case it makes a crazy fall or in case I decided to let the trade run for another week or two.

It just hit my take profit for 16 pips. So it was a successful trade.

Even tho I expected it to fall down more, the price movements werent as strong as I wanted them to be, so I decided to get out after 16 pips and wait for a stronger setup to form.

Anyways, congrats to any of you who took the trade with me.

I just took almost the same trade again ( entry 1.14390) and this time it managed to hit 20 pips tp.
If the price bounce back to the same area agian I will go in again for a third time.