TL breakout update.

The US$ is still prevaricating under weekly Cloud resistance but there were some great trend line breakout trades and other TC type trades in the last 24 hrs. I’m hoping the TC Trial traders made hay whilst this trending sun was shining as it was a great session for TC signals!

Gold: the trend line has broken here but watch to see if $1,250 S/R or the 61.8% fib hold.

TC Trial traders: there was a TC Continuation on the 15 min Gold chart or a new TC on the 5 min chart. The 5 min chart TC signal offered the best Risk to Reward though of up to 8R!

EUR/USD: there has been a small breakout here.

TC Trial Traders: there wasn’t a 15 min chart signal but there was a 5 min signal. Although, a rather large Stop would have been needed

EUR/JPY: there looks to be a breakout starting here:

TC Trial traders: there was great TC LONG off the 15 min chart during the European session worth up to 5R:

AUD/JPY: the breakout here has continued for up to 90 pips now:

TC Trial traders: there was great TC LONG off the 15 min chart during the European session worth up to 3R:

USD/JPY: this gave a great breakout during the European session:

TC Trial traders: there was great TC LONG off the 15 min chart during the European session worth up to 3R:

FTSE: this gave an 80 point breakdown:

TC Trial traders: there was an OK SHORT off the 15 min chart here:

USD/CNH: there was a triangle trend line breakout here for 230 pips:

TC Trial traders: there was TC LONG off the 5 min chart during the European session worth over 3R:

USD/TRY: this wasn’t a trend line breakout trade but, rather, a bounce back up to the upper trend line.

TC Trial Traders: The USD/TRY offered TC Trial traders an opportunity though on the 5 min chart for a trade that gave 3R. There was a signal to LONG on the 15 min chart as well but the required Stop was too large:

 

 

2 thoughts on “TL breakout update.

    • Hi Martin,

      It refers to the number multiple of profit compared to your risk.

      So, 6R would mean your profit was 6 x your risk.

      It is one of the concepts I have tried to emphasise with TC Trial participants. That they consider any signal in light of the Risk to reward ratio: with any new signal they should measure what their Risk will be and, then, check for potential resistance to gauge what the expected chance of Reward could be. I prefer trade set ups that, all other things considered, have the potential to deliver more than 2R.

      Hope that is clear.

      Mary

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