#EURCAD - H4 - PRZ

I'm putting in a small sell order here for the target of that blue area on the chart.

Take profit: 1.47800
StopLoss: 1.51600

this one is close to my stop. I think its forming a megaphone pattern so I have decided to take off my stoploss now, and add to the trade from 1.52130

target is still the same. but stop will be above the high of the weekly candle

so Im only giving it a chance to finish the possible sixth wave of mehaphone pattern and if it doesnt reverse from the top line of that Im going to get off in a loss.

Im basically adding to the trade when I expect it to touch the trend line on the daily chart.

Activated my second order and as you can see in the MAM trade explorer, I've managed to scalp some profit off of the moves along the way...
I still expect it to fall down to my target so Im staying with it till at least 1.48520

This one hit my stoploss and I closed it in a loss.
I managed to scalp some profit off of it before it hit my stop so for me it ended on breakeven.

but the market is really crazy at the moment due to the trade war speculations.. the trading divergence between some pairs that used to move together or opposite to each other is gone and often reversed and Im staying out of the market for now to protect my capital until the market has settled down a bit... and I suggest you do the same.


good luck out there 👍

Hello everyone,

#Gold is currently in an interesting place on the weekly chart. Im guessing it will finish the decending move this week and we will witness a trend reversal in the blue area.

Hello everyone,

#Gold - Im trying to catch the reversal and my first target is a pullback to 1288 and after that if the support holds it can go for 1320 as the second target and the third target would be 1350.

buy in two or more parts and scale in if you want to trade it.

about the gold, I still expect a reversal from the prz area (1230-1240) and Im holding on to my buy orders.

we witnessed a jump to the upside from 1238 to 1265 and now gold is putting down the second leg on the weekly trendline (1239).

if price closes below 1236, we might see a fall to 1230 (and less likely to 1200) and then the correction/pullback to 1260-1280 area.


the tradewar has made dollar stronger but at the same time the ounce can only fall down so much before value hunters jump in. so in my opinion for a medium to long term investment, gold is still a viable option.


have a nice weekend everyone.

Long term view on #Gold

I expect major support in 1175-1210 area. and then continuation of d wave inside the triangle.

Some members of the channel contacted me asking why Im not sharing any charts here.. so Im going to explain it here for everyone.
the reason I dont share any analysis here is the uncertainty in the market itself. currently with all the chaos in the world, no one can have a clear long term view on the world economy. so I can't do my usual job of analyzing charts with regards to the underlying fundamentals.
the reason I had a lot of success in the past was exactly this fact that I never trade based on technicals alone (or fundamentals alone) I mix them together and trade based on the view point that gives me.

currently, trade war with china has made things a bit tricky.. on one side if US continues to go down the tradewar route that can have a short term positive effect on the USD (at least before more economic data comes in) but on the other hand china can still turn the trade war into a currency war by manipulating their currency or dumping US bonds cyclically (a less likely scenario, but still a possibility)

so now, Im pretty sure that the chinese will go down the currency war route because Xi can't show weakness against trump.. and in a currency war, gold is the only winner while all other markets crash.

Im currently bullish on gold and I believe we will see a major support on 1200 level (a psychological level) and 1180 (major support level)

we will see a reversal in that area because not only there is a big chance of a currency war, but also based on the fundamentals (miners performance and the idea that the US GDP has already peaked, etc..) gold is currently undervalued.
the feds raising the rates is the only thing that can drive the price down towards the 1180 level. but there is a chance trump breaks the taboo of US presidents not meddling in the feds business and somehow force them to pause the rate hikes to prevent a recession.




all in all, I suggest everyone to trade currencies with caution if they want to trade them.



good luck out there 😎

my view on DXY - it has formed a megaphone pattern and its seems to be building the fifth wave which is generally the strongest wave in a mehaphone.

Based on this pattern I think we might first see a move to the upside towards 96.600-97.000 area for a retest and there we have a good shorting opportunity with a stop behind 97.800 and the targets are:

tp1 95.400
tp2 94.600
tp3 93.200

final taregt 92.000

Im still not in a good place mentally because of the loss I experienced on gold. but Im going to stick around and put more focus on short time trades (mostly finding patterns on 15M-1H charts and share them on the channel.
along with long term analysis of indexes (also in patterns)


I got hit pretty hard, but Im not gonna lie down on the floor for too long.

tp1 got hit. now we might see a correction before it moves towards the second target.

tp2 got hit, now another correction before moving towards the tp3

I've been using the final days of summer to get some rest and put myself away from work altogether.. just so I can get back to a stable mindset for September.

for September, I want to do another month of live trading, which means that from Monday I will share analysis and trades on this channel in real time and at the end of each week I will count the total pips grossed in that one week period (exactly like how I did a year ago)

I have decided to take trades only in 1H charts (and maybe a few in 15 min charts) and I will be mostly trading on chart patterns.

I will try sharing the analysis before we get to the point when I would enter the trades, so if anyone doesnt want to enter with me, they can just use the analysis and trade them based on their own strategy.

hopefully this challenge will help me get more order in my life and more confidence to put the past behind me.

thank you all again for continued support of this channel.

Have a nice weekend

Hello everyone,

I'm here ready for this new week. getting ready for London's open. I'm going to start sharing charts as I review the gaps and will explain my expectations of each chart and trading opportunities I'm looking for.

#USDJPY - 1H - Megaphone pattern on its fifth wave.

the fifth wave usually is the strongest wave in megaphones.

the final target of this pattern for me is 112.112. but there are some resistance areas on the way to that target and we might see corrections to downside from those areas.


the first target is the midline of the pattern which is 111.300

my stop for this pattern is 110.090 which for the final target gives a good 1:2 risk to reward ratio. (assuming the entry on 110.700 based on pattern)

I think price could touch the pattern line once again to give us a clean entry.

but even an entry at 110.900 (current price) would have a 40 pip stop and a 40 pip target which would be a 1:1 trade and valid for trading the first milestone which is the midline of the pattern