Possible patterns

Silver has formed what could be possibly a H&S pattern depending on how you want to see it.Will be looking for a break below the shoulder line for an entry short.The pair which has been closely correlated to gold for a while now will definitely be affected with news from the US dollar with all the QE3 speculations and may be good to watch for opportunities.

 Gbp/Jpy is in my opinion forming a Gartley pattern on the weekly time frame.This could be a good indicator on the direction of the trend should it play out as expected.Repatriation of funds by corporations back into Japan has caused a lot of volatility for the Yen pairs over the last few days of trading and a slow down may cause the currency to once again strengthen to its previous position. Our earlier positions on this pair could have given us plenty more pips had we held for the longer term.

Good luck trading to all and happy pips.