Talk about a great week of trading. (without jinxing) it we've been able to erase all of our summer drawdown & achieve new equity highs for the trading year (assuming we don't do anything dumb today).
With that being said I'm certainly taking a cautious approach to the markets & and ensuring that I don't get sucked into any type of overconfidence type of trades. (Think when Klay Thompson got hot against OKC & just started shooting from anywhere).
What we have on the charts above are 2 potential advanced pattern formations. A potential bullish Gartley & a potential bearish bat.
Also have you ever heard of the saying "You Can't Go Broke Taking Profits" Well if I released a video yesterday explaining why I think this statement is false. Along with some technical analysis on a USDJPY trade that made up for the though loser that I posted here last week. Also a look at our Syndicate equity curve. Please check it out as it may give a little more insight on my trading process & philosophy.
Sorry Akil, but i'm sure you lost a CAD/JPY trade earlier in the week too but hey, still a great week. I wish i could string a few like that together.
Akil_Stokes
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I don't trade CAD/JPY so you must me mistaken. Was that a trade that Charles took in Warroom perhaps? I think he trades that pair
SmartTradingFX
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I only trade the one pattern on this pair... You know me and this pair have history coach haha
Akil_Stokes
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Yup USDCAD=Stay Away right
thecrackking
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In case your interested in buying the USDCAD, please check my chart :)
TomPower
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I'm seeing a symmetrical triangles in my sleep come on guys
SmartTradingFX
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You know it Sir
MattSzwyd
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Nice looking trade setups; would love to see them play out in an environment free of volatile adjustments post-GDP.
Akil_Stokes
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I agree, however, I can't complain because we had an inverse of this pattern formation the the GBPUSD that won. So if I'm going to accept those profits (from a news reaction) then I've got to accept the losses as well.
YoussefRazak
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But akil why did you enter the trade ? That drop was definitely caused by the GDP news and the move had strong bearish sentiment behind it. I am not saying i know more than you but just saying i would definitely not take a bullish signal right after an important and significant news release that stated the contrary. I might be wrong in my reasoning but that is what i would expect. Any comment ?