The combination of TC and trend lines has been a winning formula again during the last session and rewards are high for those who patiently wait for trend lines to break with accompanying TC signals. Patience and discipline proved to be key attributes for those who were successful using my TC system throughout both Trials this year and these have now completed.
A stronger US$ and weaker GBP has helped to trigger some trend line breakouts. Some relative strength across the AUD and NZD helped some cross pairs to deliver moves.
The FX Indices are back to slow moving again and this has kept the FX pairs that I watch pretty much range-bound.
The GBP/JPY has given a decent move this week with a trend line breakout trade yielding 380 pips up to this point in time. However, price has now also broken out from an 11 week triangle pattern and, if this breakout holds, the big moves for this pair could be yet to come!
The US$ continues to hold and hover above 92.50 support and this has made for better trading off many of the cross pairs. GBP strength has continued too and this has helped the Cable to break above a 3 -year bear trend line. Once again though, the best R/R signals came off the big moves across stock indices.