Price Action - Chart/Candlestick Patterns

Update EURAUD

USDCHF
Target 1
Target 2
Target 3

USD Index to continue strengthening. Similar PA structure on USDCHF meaning USD is dominant.

CHF

GOLD/USD vs INVERTED GOLD
Either way we could see a retracement prior to target.
https://www.forexfactory.com/thread/...3#post15726033
4400
4350
4200
4135
4055

Yen (W1) looks like it could make an outburst (Divergence) in the coming week(s) to the resistance block + RSI 50 level.
Since both USD & JPY are correlated as @ last week not likely to see any strong PA move on the USDJPY pair in the coming week as caution will take centre stage with regards to the 160/162 psychology level. Then afterwards we see who strengthens more. But overall structure showing an Ascending channel.
So NOT interested in this pair until a breakout or strong rejection occurs (to avoid falling in the trap that USDJPY must not cross 162 level).

Market Open GAP as @9.16 GMT+1

Top Gainers
MXN +0.16%
JPY +0.14%
CAD +0.13%

Top Losers
AUD -0.31%
ZAR - 0.19%
NZD -0.08%

*Gold -0.11%

GOLD Scenario 3
Hmm

Till then.

GBPAUD Update

https://www.forexfactory.com/thread/...2#post15742272

EDIT

Updated charts
Major support Broken.

Books say best time to trade Gold is during the London Session due to high volatility + volume. But I dont see it that way. Tokyo and NY has the most volume + volatility, i think. My targets most times hit hard in these sessions.

https://www.forexfactory.com/thread/...3#post15726033
https://www.forexfactory.com/thread/...2#post15742272
GOLD Update
4400
4350
4200
4135/4120
4055

Are we getting a bounce here or straight to 4135?
Daily ATR says 4153

Why Trading Success Scares You More Than Failure. Fear is often misunderstood: it’s not lack of discipline or bad luck, but a deep-rooted fear of what succeeding means. Many traders sabotage progress right when they are on the brink of breakthrough, mistaking the internal struggles for external market failures. Key insight: The common narrative focuses on fear of loss or failure in trading, but fear of winning—the implications and responsibilities of success—is often ignored. Success eliminates excuses and imposes personal responsibility, which can feel threatening because: It requires accountability for both gains and losses. Failure feels safer because it is familiar and easier to rationalize. Success demands discipline, patience, and consistent execution, qualities that are psychologically uncomfortable.........https://www.forexfactory.com/thread/...1#post15730841



Summary
In this interview, Tom Hougaard discusses the psychological and practical factors that influence trading performance. He emphasizes that many traders do not actively seek to improve because of fear and self-sabotage, often being "afraid of success." According to Hougaard, success in trading—and in life—depends primarily on determination, self-reflection, and consistent effort rather than sudden, radical changes.

Key Insights

1. Fear of success is a significant barrier for many traders. They might unconsciously sabotage their outcomes because they "wouldn't know what to do" if they truly succeeded.
2. People tend to get what they want from the market as per their mindset and habits, indicating that trading results often reflect deeper personal patterns.
3. To improve, traders must honestly assess what strategies are working and which are not, requiring dedicated effort and self-honesty.
4. Laziness and lack of motivation are common obstacles; many are not sufficiently "psyched up" by their goals.
5. The fundamental difference between unsuccessful and successful traders is repetition and discipline, as success comes by doing small improvements repeatedly, akin to sports training or teaching.
6. Keeping a trading journal is highly recommended as a tool for self-discipline and learning from past trades, though many lose momentum after the initial enthusiasm.
7. Consistency is essential; success is generated not by grand gestures but through daily, incremental actions.
8. Over time, Hougaard developed an instinctual feel for the market through extensive exposure (10-12 hours daily), recognizing that the market reflects habitual human behavior.
9. Because humans are inherently creatures of habit, market patterns repeat as traders behave consistently within their behavioral frameworks.
10. Changing one’s trading habits requires a profound shift in frame of mind, a difficult process many avoid.
11. Ultimately, the hard work of self-reflection and persistence is indispensable for both trading success and personal growth.

Recommendations for Traders

1. Stop looking for external solutions and focus on self-improvement.
2. Engage in regular self-reflection and review what works and what doesn’t.
3. Commit to repetition and consistency in your trading actions.
4. Keep a detailed trading journal to maintain accountability and learn from mistakes.
5. Accept that small, daily efforts matter more than large, sudden changes.
6. Understand that markets repeat patterns because of human nature and habits.
7. Recognize that true improvement requires hard work and changing your mindset, which many avoid.

Conclusion
Tom Hougaard's perspective underscores that successful trading is a disciplined psychological journey, not a shortcut or a game of luck. Traders must embrace hard work, honest self-assessment, and consistent repetition to build competence and avoid self-sabotage. Market behavior is a mirror of human habits, and mastering oneself is the key to mastering the markets.