Here is good trade for today, strong bearish break of trendline is bearish further, the question is can we catch it if NFP triggers it, probably pending is best: Screenshot by Lightshot
And here is most anticipated trade for me, chances of break down of trendline are not that good becouse GBP is still in up drive mode, but if it happens its good one. Screenshot by Lightshot
Jey jan why you not just post your picture if its less than 4? Its complicated to read the thread if I need always open the pic in an other window, please…
Bernardo good article straight to the point. Completly agree. Gold prices are being heavily manipulated on short side by banks and ofcourse there is no gold left in west countries. Most of EU gold is suppose to be in FED, but when French or German requested it, none (3%) was give. There is no doubt that most gold is held now in east where china is actively preaparing for dollar collapse.
As for collapse itself there are two things that can happen in next few years to USA and global economy following:
1-default of USA on their debt
2-Countinuation of ponzi sheme and money printing which would lead to hyperinflation and collapse of dollar
Option depends a lot what will happen in Middle east in next few years, if there are no more wars and Petrodollar is offically dead and USA defaults then the only thing probably left is gold backed dollar or some other option, in any case it would make huge financial crisis.
2.This would lead to more bubbles over next years and finnaly when dollar goes belly up its excluded as reserve currency and denominated. Biggest financial crisis ever no doubt.
The thing is that there is pretty much no any other scenario left to happen, unless like the article points out Petrodollar comes to its biggest level ever, which would need at least attack on Iran, or WW3.
I will try posting pictures from now on. Just being bit lazy there as its only single click with posting link:D
in this analysis you use mostly trading break of high and low am i right??
on head and shoulders, the price will coninue in the opposite direction of the head always?
trading breaks of lows and highs seems difficult to catch to me. you have 90% success on trading breaks of highs and lows?
Can you explain to me why on wedge you use a flat line and a trend line and not 2 trend lines? i cant understand your explenation on the pdf
CDrosos becouse wedges from 1 flat and 1 trendline are stronger and more robust signal to trade from than those on 2 trendlines. What you have is stronger signal on wedge with 1 flat line, becouse usually on wedge pattern this line will be tested a lot and especially on higher tfs such pattern once its broken (especially if its broken in direction of flat line) it usually gives strong trends, good examples are JPY (november) and CAD pairs (last week). 2 trendlines dont give strong tests usually you need to be quick on those to catch them becouse they dont usually provide much reward simply becouse what it is is trading against trend and entering on pullback, which means that after your entry price should quickly return to your entry level and go bellow/ above.
Trading 1 flat and 1 trendline also goes by system rules nicely which means trading breakout, as on wedges either lows or highs will be broken in trend direction or start of new trend while 2 trendline wedges give many times only counter trend breakouts with quick pullbacks back to your entry.
And yes main point of this system are lows and highs all patterns follow this rule of trading its breaks.
So how is everybody doing with this strategy? anyone making money with it? been following this and previous thread for months but never felt encouraged to follow this strategy.
janpec in your analysis for this week. on the 1st and 3rd photo what type of chart patern they represent? i just see a trend line. why you think this trend line is going to break? because it last a long time?
the 1st photo in your system is a confirmed wedge or sometihng else?
All analysis correct for this week, all pairs moving in predicted direction. Now only thing to look forward is if lows get formed by strong retracement, if not keep shorting.
impressive that all analysis was correct. please keep doing this, we want to learn more from you.
in the previous analysis on EUAUD (5th photo) how did u know it will continue downwards? because a previous resistance level was now a support?
I’m still in GY at 168.62 now… Do you really think it still has another 100 pips left to go today?
this was a text book trade… Everything according to the pdf. Everybody here that is new to the system - I have been with Jan for the last 2 months, and yes, it works.
My only regret is that I also opened a sell on EurAud… which gave only 20pips. I should remained faithful to the GY.
I’m sure some of us have doubled/tripled accounts on this one pair today