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.

a lot of traders are out there who just share a signal alone with no information, because their main goal is to just make themselves look like magicians who can predict the future and also have their audience addicted to their signals so they can later on charge some money on a monthly basis from their audiance to make a living doing nothing but analysis of the charts.. so they don't have to risk their own money on trades. cause lets be honest, if they really trusted their own signals, they would be trading on them and make far more money than they would make selling signals!

the reason I opened this channel is to share what I have learned with others.. I like to teach through examples and I'm sure if anyone follows my channel for a month or two, they can easily analyze their own charts for finding simple patterns and trends and can make a livng doing what they love to do.


so please help me grow this channel by forwarding my analysis to other groups about trading or telling about it to other traders you know. if this channel hits 1000 member milestone, I'm going to open up a youtube channel as well, and do live trades and answer question you might have on the spot.

when finding a pattern, always be careful and make sure you are not missing a wave which is a bit longer and a bit far left in the chart. counting waves correctly is very critical to your success!

adjustd the resistance lines accordingly. I expect the price to hit 112.100 so thats where I will close some of my position, and the rest I will close a bit above 112.00

back to our 8H chart. this is how I see the price moving forward. it will move down and complete the target of the triangle pattern while finishing the flag pattern as well!

sorry if the chart is a bit too messy, I like to keep all my lines there all the time, over time I've got used to reading messy charts! 😄


by the way, after the triangle on 5 min chart finishes the 4th wave, it can break the triangle from the buttom and move further down to reach its own target ( will be 111.000 probably) and then move further down to reach the target of the triangle on the 8 hour chart.


so if you are interested in long-time trading, it might be worth it to keep a sell trade open for that ultimate goal of closing it on 106.00 and taking a +600 pips profit!

of course I'm putting these up for the next week. over the weekend, I like to do all my analysis and find my trades for the beginning of the next week. so over the next 48 hours I'll share more analysis and signals for the upcoming week.


have a nice weekend everyone 😊

#GBPJPY - my analysis of the 8hr chart for the next week. you can clearly see the triangle pattern and its target, but that doesn't mean you can go in with sell orders just yet!