I think this was the only true recent diamond. Main diagonal was pointing up, and it broke to the downside, reaching its target.
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DislikedJust sold GBP/JPY as I saw that price had touched the upper border. The channel is a bit widening, so I think this might mean that there's a higher risk to trading this formation.
Entered at 129.888, SL above the day's high at 130.21. TP - 128.5. Will probably reverse if stopped out but I'll update before placing the reverse order.
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DislikedHere's the situation with USD/JPY sell, which was originally an entry for late 18.1. The market has made a third touch on a descending trend-line, thus I'm using this as an excuse to keep the trade open with the original target.
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DislikedMy USD/JPY 18.1 short order got activated and I'm putting a reverse at 82.03, stop at 81.71.
Also, it looks like we had 18.4 EUR/CHF.
Now let's play a game of "Is Mizuno going to be stopped out on EUR/CHF or not?"
Here's how it looks like what's going to happen. The price was decelerating, now it's flattening out, and it will start accelerating up, and stop me out, or stop me out later tomorrow. I'm not moving my stop.
15min and 30sec views. Also we can see the sexy touch it made some time after breaking the TL (I entered at the break).
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DislikedHere's a setup on CAD/JPY. It is high risk, as neither of the borders is confirmed with 3 touches. However, the lines are nearly completely parallel on fxTrade and completely parallel on MeatTrader4, so I'm willing to take a bet.
Two trades with divided risk:
Short at 82.04, SL1 - 82.22 (above TL), SL2 - 82.374 (above October 6th high)
TP - 80.2
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DislikedHere's an interesting setup on AUDCAD. The triangle is not formed yet, but it has three touches on the upper border. Tthe move sequence is not correct so I think it counts as a single touch only, though the third touch might be a hint that the line has some technicality. Also, this would be weekly and monthly 18.4. Not sure of a target yet. Stop would be above Sep30 high, 1.0027. I don't want to use the lower border of the potential triangle as the TP as it seems that there should be a better target available. Will update as soon as I work it out.
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DislikedAnd my lovely EUR/CHF - well, I'm still playing a patience game with Miss Market.
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And as for the part where I was expecting the price to accelerate upwards and stop me out:
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DislikedScratch the part with monthly 18.4, it's weekly 18.4 only. Thus I can use 0.9825 as my target, which is roughly ~ 90% AWR.
Sell order at 1.0003, stop - 1.0028. Don't want to use the lower border of the potential triangle (flag?) as my TP point as my R:R would only be 1:2 which is kinda "meh". No reverse planned yet.Ignored