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) .

just one more point to add to this whole thing...

a good tip to always apply to your trades is that when you know the general direction that the market is moving in, always try to take trades in that direction. like in this example of GBPJPY, we know that the market is moving up for now (finishing the triangle pattern in a higher time frame requires it to go up, and you have a short time ascending trend on the 5 min chart) its wiser to only go in with buy orders WHEN you see a good buy setup.


like in this flag, if I want to trade 1 standard lot on it, I wouldn't be selling it from the top of the flag's channel.. cause even tho I can see the flag pattern, there is always the possibility of the trend pushing the price higher which in turn makes the flag's channel a bit wider or fails the pattern altogether. if the price does something like that and I'm in with a sell trade there is a big chance it will hit my stop.


one trick is to use hedging as a back up when you want to go in counter-trend trades, so if the trend pushed up the price, you can lower your losses from it, or if the push was strong enough even come out of it with some profit, but if you are not an advanced trader and aren't completely fluent in reading price action movements, its better if you just stick to trading in the same direction as the trends. at least this way the odds will be in your favor.

Alright, its a new week, and Im here to share more analyzed charts and meanwhile I may share some of the trades I make as well..

So far the sell position on #NZDUSD that I opened last week seems to be doing alright. Its still above a short time acending trend line in the 5min tho, so you might want to keep it in your watch list for now.

#NZDUSD - how I see it on the 1 Hour time frame. hoping it will hit 0.73000 soon! or at least the buttom of the channel.

I expect it to hit the buttom of the channel, turn back up to touch the short time decending trend (blue line) again and confirm it, and then reverse down and fall to around 0.72750

#EURCAD - could it be a reverse symmetrical triangle pattern? I guess time will tell!

I put in a buy limit order at 1.47593 with a 140 points stop loss and no set take profit. since its the buttom line of the reversed triangle pattern. and I expect the price to bounce back from that area and move up again.

#eurcad - a triangle pattern, which I expect the price to break out of it from the buttom snd move down towards the buttom line of the reversed triangle pattern on the higher time frame.

of course, I will ONLY go in with a sell order IF it breaks out of it and AFTER the pullback. don't rush to get in any trades, there is always going to be a better one for you to take. wait for the odds to pile on in your favor

#Gold - seems to be on its way down to touch the acending trend again. I have a small buy order in at 1234.00 (where I think it will touch the trend line) with a 500 points stop loss.

target will be at least 1275.00 so its a great risk to reward ratio trade (about 1:8 I think).

you can also, take trades in small portions and close them on different levels. it really depends on your trading style and mentality.

I also have another buy limit at 1230.00 with 500 points stop loss. just in case it came a bit lower than I expected, so I can have two small positions and close one sooner (with 1:3 ratio) and keep one to see how far it will go.

#EURJPY - you can see that in the 8H chart it has broken all its decending trends so its going up very strongly, so lets take a look at it in a lower time frame and see what its doing..

#EURJPY - we can clearly see the bullish flag pattern forming in the 1H chart, so this is how I expect the price to move up this week.

#EURJPY - I put in a small sell order at 128.450 with a 300 point stop loss. I'm tryin to sell it from the top of the flag to its buttom, which is a risky move since we are in a strong acending trend. so I think its safer for you guys to wait and get in on a buy setup when it touches the buttom of the flag pattern at around 127.500

#EURCAD - maybe its a bigger triangle than I thought it was initially! either way, I might go in with a sell order with a very tight stop (less than 8 pips) just for fun. (small order)

#EURGBP - no special patterns, just trend lines, its still safe to go in with a buy order when it touches the short time acending trend. but play it safe and trade low volumes.