Monday Analysis May 6th, 2013

An Ascending Triangle \ Flag has appeared in the NZD\JPY in the 15-minutes chart. It signals that a breakout upwards is likely and a continuation of the bullish trend is expected. We will enter LONG on the pullback.

The Gold is now in a channel, we will take LONG trades on the support level and LONG trades when price breaks upwards and pulls back to the Resistance level from above.

An "ugly" Head & Shoulders pattern has started at the USD\JPY, price already broke upwards - we will enter a LONG trade if price pulls back to the neckline. This can be a very profitable trade.

Good luck and pips for everyone !