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.

Right now the 1.14390 is a good entry point for a sell trade, since its a perfect place to have a 3:1 risk to reward ratio. A 7 pip stop to a 21 pips take profit.
And the 7 pip stop will be behind the 1.14450 resistance line.
So overall its a great setup.


But of the price bounced back there, wait for the next candle to close (5 min chart) and if it didnt made a big move up (creating a significant higher high or a strong bullish candle) then its safe to get in on the sell train 😋

Someone asked me why I dont share a lot of signals (exact entry point) so I think I should explain why there is not a lot of signals in this channel..

Reason is quite simple, I dont share just any hunch or gut feeling I have about possible reversals.
A lot of traders are out there who just do a simple Fibonacci tracing and take the prz areas and share them as reversal signals and their channels always gets super popular very fast.. But the thing is, those traders are more often than not wrong on their "guess" and it costs some people serious money.
I dont share any setups unless Im certain it will give at least a 1:3 ratio of risk to reward.

If you guys want, I can share signals with a smaller risk to reward ratio.. Like 1:2 or 1:1 even.
But I generally dont trade those setups unless I need a few pips to complete my 100 pips daily quota before the end of the day.

But if you guys are interested in signals with wider stops and take profits with ratios like 1:1 , 1:1.5 or 1:2 I can do that as well..
But I cant stress this enough that how important the risk to reward ratio is to a trader's success in long run.


But since I have created this channel to help you guys I will put up a poll and if the majority preferred that I share all the signals I come across, I will do that.

unfortunately it didn't jump high enough to activate my sell limit order at 0.73550 but since its still above the short time acending trend, I'm hoping it makes another higher jump.

if not I will sell it after it breaks the acending trend and move passed the support line of 0.72750

sell nzdusd at 0.73250 sl 0.73500 tp open

a small position I opened in case it doesn't bounce up again. hopefully we will witness a huge fall :D

This is how I see USDJPY chart, as you can see it has reached the top of the channel, but where will it go? I will tell you in a second.

if you pay a bit more attention, you can see that there is a triangle pattern on the chart..and it seems to be in its 4th wave!

now if you look at your 5min chart of USDJPY, you can clearly see its forming a triangle pattern too!!

usually, when you see a pattern on a higher time frame, there will be a micro version of it on lower time frames as well.. thats what gives the pattern more validity..

so right now on USDJPY, the triangle pattern on 8H chart, tells us that the price is going up..but does that mean we can go in with buy orders? NO! because we don't know when it will move up and for how far and how long? thats when you should look at your trends and patterns and price action movements on lower timeframes....

in the 5 min chart, we can see the triangle pattern is in its 4th wave, so we can expect the price to go down in the short time until it reaches the buttom of the pattern, so now we will look to see which resistance lines are there, and which of them might be the one that stops the price falling when it reaches the buttom of the triangle..

these are the two most important resistance lines for this pattern, one is where the two sides of the triangle meet, and the other one is where the price most likely will reach the buttom of pattern

so for now, we can go in with a sell order, stop loss above the upper line of the triangle pattern, and take profit abit above the 112.150 resistance line.

stop loss is safer if it gets places at 112.615 (above the swing high) and it will be behind a resistance level so its pretty safe for a short time trade.