EUR/USD Follow-up.

As we can observe from the latest EUR/USD chart below; The compression triangle formation discussed in my previous post last night worked a treat and as predicted price initially false-broke to the upside before a steep rejection and very healthy risk reward trade opportunity presented itself.  Unfortunately for me, this occurred during the Asian session and so I missed it! It is interesting to see, however, that once again this triangle pattern has worked really well in the EUR/USD pair when traded with the immediate trend, especially when preceded by a double top and bearish outside day.  These kind of set-ups are premium trading opportunities and definitely worth watching out for going forward.

Unfortunately we haven't seen the same momentum in Gold despite the break of the flag to the downside.  I missed the initial break and have been watching the price-action this morning but I haven't really liked anything so far.