TLs & TC algo: a match made in heaven!

Trend line breakouts combined with my TC algorithm are proving to offer highly successful trend trades and last night’s session offered up further examples of this. My only problem, and it is a huge one at that, is that these breakout moves tend to trigger during the more active European and US sessions when I am not at my screen. That problem remains a work in progress for me though.

This post starts with a review of the breakout trades that have triggered since my post from yesterday, with tallies below, and I then follow up with the remaining currency pairs on my watch list.

  • Oil: 140 pips.
  • USD/CNH: 180 pips.
  • EUR/NZD:  100 pips.
  • EUR/AUD: 90 pips.
  • USD/CAD: 50 pips.
  • GBP/NZD: 70 pips.
  • NZD/USD: 45 pips.
  • AUD/USD:  30 pips.
  • Plus an internal move on the USD/MXN for 1,600 pips.
  • Plus an internal move on the USD/TRY for 550 pips.

TC Trigger: you will note the use of my new TC Trigger indicator continuing on my charts. I wrote a page on my website to describe how I use this indicator and this can be found through the following link.

Oil: I have been posting the daily chart of Oil for some time noting the trading channel and advising to watch for any momentum-based breakout and this came during the last US session. Note how using my algo on either the 30 min or 15 min charts would have helped to pick up these moves:

Oil daily: the breakout triggered last night (my time):

Oil 30 min:

Oil 15 min:

USD/TRY: this pair continues within a larger triangle for the time being but the internal moves can be well worth watching for as last night revealed:

USD/TRY 4hr: still conforming to the larger triangle but check out the shorter time frame charts below:

USD/TRY 60 min: I placed this channel on the 60 min chart late yesterday to use as a guide for any potential breakout move near this support trend line. This is how the 60 min chart appeared back then:

USD/TRY 15 min: drilling down to the 15 min time frame reveals that this eventual channel breakout aligned with a new TC LONG signal and delivered over 500 pips!

USD/CNH 4hr: this finally broke out of the Flag for 180 pips. The chart from yesterday’s post is first and then the chart from today:

Yesterday:

Today: this move gave around 180 pips:

EUR/NZD 4hr: the new leg of this bullish breakout move got going since my post from yesterday and has delivered another 100 pips:

EUR/AUD: there has been a bullish triangle breakout since I posted yestedray and this has given around 90 pips. Note how this could have been caught on the 15 min time frame using my TC algo and trend lines:

E/A 4hr:

E/A 15 min:

GBP/NZD 4hr:  the new leg of this bullish breakout move got going since my post from yesterday and has delivered another 70 pips:

USD/CAD 4hr:  the new leg of this bullish breakout move got going since my post from yesterday and has delivered another 50 pips:

AUD/USD 4hr: we have a triangle break that has given about 30 pips for now. Watch today with Chinese CPI and PPI data though:

NZD/USD:  this bearish breakout continues and has delivered more pips but note how the 15 min chart would have helped leg into to this latest break of trend line:

NZD/USD 4hr:

NZD/USD 15 min:

USD/MXN: The Peso keeps consolidating within the descending trading channel but, as I have mentioned before, this still enables decent moves on the shorter time frame chart and last night’s session was a prime example of that!

USD/MXN 4hr: still within the 4hr descending channel:

USD/MXN 15 min: note how the first signal during the late Europe/US session gave a low risk but high reward new TC LONG signal trend trade:

Other Forex:

Gold 4hr: still in the channel and looks to be headed to test $1,200:

EUR/USD 4hr: holding above daily trend line support ahead of today’s ECB rate update.

EUR/JPY 4hr: still choppy under that major bear trend line:

AUD/JPY 4hr: looking heavy at the moment. Watch today with CNY CPI and PPI:

GBP/USD 4hr: getting squeezed now so watch for any breakout move:

USD/JPY 4hr: a bullish breakout getting started?

GBP/JPY 4hr: the 139 is proving to be considerable support here for now. This remains the level to watch for any make or break:

GBP/AUD 4hr: getting more interesting here too as price action is becoming rather squeezed:

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