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

I will try sharing the patterns and targets of each pattern and you can choose your entries based on your own strategy.
I will only share signals at entry points based on patterns alone and count the points grossed by those entries. but that doesnt mean you cant trade the chart based on your strategy anyways 😉

I decided to enter a small position at 110.900 with a stop behind 110.568 and target at 111.311

a 1:1 trade to start the week.

but if price falls to 110.650 thats where my pending order is with a stoploss behind 109.980 and target of 112.000

#EURAUD - Daily
from a purely supply/demand view its in a very interesting area!

I think a small sell order at 1.61380 with a stop behind 1.62050 and take profit on 1.59600 wouldn't be a bad idea!

EURUSD - 1H

I think a sell order at 1.16050 with a stoploss behind 1.16300 and take profit on 1.15500 isnt a bad idea.

this one is in about 75 pips of profit, I think considering how it reacted to the trend line at 1.60400 it is worth it to save the profit here and wait for a new entry when it corrects the fall. chances are we will be able to get in again a bit later at a better price.

but if it breaks through the support of 1.604 it can continue to fall to 1.59600 as well. I still have it on my watch list.

the selling pressure seems pretty strong as we approach London's open. if it breaks through the support line I will enter again for the target I mentioned earlier.

this one hit the target for the small order I had on it, went straight for the midline and broke through it and now it has reached the resistance of 111.500. it might correct the upside move a bit and build some potential on top of the midline and then I expect it to follow through towards the final target I had on it which is 112.112

the small order got 50 pips of profit and thats the only profit I include in the weekly count because I only count the profits from shared signals.

this one also almost reached the target but judging by the DXY I think we might see a correction on this one too, and I think it will give us a new cleaner entry again, so I exited this one here with 50 pips of profit. I think its enough for now.

#EURAUD had a big jump to the upside and I entered now again with a sell order on 1.61300 with the same stop and target as before!

trade war tentions are raising again, its safer to be on the buy side of dollar for now. I wont share non-pattern based trades as that was not my intention for this month. so for now most charts arent really in a pattern mode and I cant share much since movements are feueled by political tentions. but as soon as the market settles down a bit and I find any decent patterns on 1H charts I will share them on the channel.


happy trading everyone