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!

a lot of channels or traders were giving out sell signals because they were solely basing their decision on the long time decending trend line (the blue line in my chart) so they were practically shouting at others to get their sell positions in, but I wouldn't do that if I were you, since I believe in my triangle more than the trend line. and I'm sure the price will make a jump up to reach the top of the pattern before it falls back down. so I have my sell limit order in at 148.00 if you were to go in sooner hoping the trend will bounce the price back down, your stop loss would have been hit before the price starts to fall. so always use all your tools to analize a chart not just one of them!

that is of course if you are a long time trader. if you are a short time trader like me (I do most of my trades on 5 min charts and 15 minute charts) you have to make trading decisions based on those 5 min and 15 min charts.. I will share my 5 min analysis very soon too.

for the lower time frames, I always first analyze the 1 hour chart and then look at 5 min to find a good entry. this is my assumption on 1 hour chart!

if I wanted to trade this pair, I would first try to sell it from the top of the flag to its buttom, and then buy it at the buttom again for the top and possibly its target (the blue line is my target for the flag) .