(binned per thread starter’s request) Chart Patterns

Update on EU
So we where looking at that descending triangle with all the false breaks to the bottom we had another false break and based on these false breaks I said price should rise I looked to see if I could find a pattern to support my bias and I’ve found a broadening descending wedge
Again below is a before and after shot so you can see I haven’t just drew the pattern in. If I turn out to be wrong I’m wrong so what?

Anyway below is what I anticipated we didn’t get to much of a pull back as I thought we would but we had the consolodation before the break either way the pattern played out now we are around 20 pips from target and we should have collected around 40 pips on a agressive entry target around 60 pips.

Note this is is only a smaller pattern within a bigger pattern smaller patterns tend to pay smaller than the bigger ones but they are quicker to play out

EJ
traingle broke out strong I didn’t get in on this I’m waiting for a pull back and a test of the breakout area.

Nice bull flag buddy!!

If it is no way can cable high hold
see if we can get out of that to the upside which is in line with monthly

Sounds like a plan, I’m Long bias overall on GU I wanted to see a large correction before a strong push up though

So we have the triangle forming on EJ which had that fals break today, I am bullish on this pair. I also see a 1-2-3 pattern trend change which I’ve drawn below for you guys this would support my analysis of a bullish breakout should this pattern play out

So below we see a chart with a down trend from A-B A is the HH
B is the LL now what’s important here is that the Trendline is not broke until after the B point
from there you see number 1 this is the point at which the TL was broke and closed above
Then point 2 now point 2 is a test of a low then from there we have point 3, point 3 is the Swing High BETWEEN points 1-2 once this high is broke and closed above there should be a new bullish trend.
Point 3 break for me is around 131.800

Dingo just check back on the chart with the potential bear flag. As you seen I said be cautious about this and I said because price is rounding towards the top I’d be more swayed to a new pattern rather than a bear flag. As you can see price broke out of the flag channel upwards and closed near the top of the pole before reversing for me that would invalidate the pattern along with the fact price was rounding as I said before....
BENIFIT of hindsight for teaching purposes i did state that I would wait and that a
new pattern was more probable must make that clear lol

so what did play out was the run and bump pattern similar to the one we seen on the GU which seems to be playing out well

All good thank's Neil,

This little suck didn't catch me out,

I have a secret weapon,

That i share with very few people.

===

Eu broadening descending wedge target hit
now let it run

UJ update
still holding this one but I have my doubts at the minute as price closed below neckline yesterday, I’ll see how this week goes any drop lower though and I’ll be looking to cut this trade.

GU update
price on its way to intended target
run and bump pattern playing out well on this one.

GJ update
GJ on its way to intended target after a neckline break, 3 rising valley set up pattern.

EJ update
EJ had that ascending triangle false break yesterday I was still convinced this was going north and I said what would confirm it for me would be the 1-2-3 trend reversal set up if we close above 131.800 I think I said or around that figure (have a look back in past it’s up there) either way I’ve too my entry today based on the triangle break if my daily closes above that 1-2-3 level today we should see a new bullish rally in the EJ

As you can see guys I’m drawing these patterns and how I expect them to play out way before it’s happened I post my plan for you to see there’s no benifit of hindsight here (bar one post which I was showing something to dingo)

AUDUSD update
i said this should rise and I expect it to make the first leg of the 3rd valley I’m in long let’s see how this one plays out. So far so good but this is a long term trade I must state that. I’ll be holding this for a few weeks

Here a rising wedge set up
GBPCHF
Breakout usually occurs half way of the wedge
it must touch at least 5 times 3 on one side and 2 on the other as minuimum
this is a bearish reversal pattern my target is at the mouth of the wedge.

GBP usually correlates with EUR

again rising wedge, waiting for that minimum of 5 touches.

GU update, price nearly tagged intended target im happy with this trade took my profit I’m out.

Will now look to play the reversal should it happen.
137 pips from this trade (with my re entry)

GJ-took profit looking to get back in long should the opportunity arise I believe this will still go higher but a pull back is now due.
166 pips in this trade