Moipone_Phakisi

Moipone_Phakisi

I think we are getting a really nice correction to the upside here. Price is bouncing from both weekly and daily demand. If you need more convincing I suggest you wait for the "neckline" to break and get retested before going long. Good luck and use good risk management.

Moipone_Phakisi

I mentioned my bearish bias on GU yesterday and it been steadily moving according to plan. We should need more volume to push it into our daily demand target. If you are still holding shorting positions make sure your stop loss is a few pips above H1 supply. Otherwise if you are yet to enter, a break and retest of diagonal support will serve you well. Good luck :)

Moipone_Phakisi

This is what I am seeing on my DXY analysis although I can only show the lower timeframe picture. I did a thorough top down analysis and the bulls are showing strength. The demand zone that broke the neckline of this double bottom pattern is a critical zone at the moment and for as long as it holds that will provide us with more confidence to long the dollar. For...

Moipone_Phakisi

We all know the dollar is strong at the moment - well at least my DXY analysis shows so. EURUSD is therefore is a downtrend. That bearish continuation pattern just needs to break and confirmations for shorting will be a break and retest of H1 demand. We analyse and confirm so our trades are high probability. They are never certain. All the best :)

Moipone_Phakisi

Now that we got the pullback to daily supply we wanted from CPI yesterday, we can safely ride the bears to demand zones. There is GBP news today and I am short on the pound. If you want to confirm the setup wait for a break and retest of H4 demand although the momentum might be too strong and the pullbacks might only happen on lower timeframes. Trade with...

Moipone_Phakisi

I am nothing if not consistent. If I am buying GU then it makes sense to also be buying Gold. This chart pattern looks very much like a falling wedge which has broken out to the upside and we also have a retest. Will CPI give us a push farther to the upside to retest supply zones created when Gold plummeted a couple of weeks ago? I certainly believe we are due a...

Moipone_Phakisi

I know there is CPI news in about 2 hours and traders are excited and anxious. I am bearish on the dollar and hence my long prediction on GBPUSD. What we might get though before this move plays out is a pullback to the neckline but otherwise I fairly confident of this move. "Show me the chart and I will tell you the news." Not sure who said this? All the...

Moipone_Phakisi

US30 is looking very bullish right now. the inverted head and shoulders pattern target is landing right into a supply zone. if you are unsure wait for a break and retest of the symmetrical triangle. Although if the momentum is too strong to the upside you might not get a chance of a pullback until much later. Good risk management should always be...

Moipone_Phakisi

Gold is bullish and price just picked up orders in a critical demand zone. We also have a break and retest of a bullish pennant on H4 - extra confluence. If you take the trade practice good risk management. All the best!

Moipone_Phakisi

All confirmations are screaming long on this one. Whether or not price pulls back first, targets are in the next weekly supply as shown. Also, there is ECB news today and CAD employment news tomorrow so the volatility will work in our favour. All the best guys :)

Moipone_Phakisi

A new supply zone and a new low has been created after H4 demand was broken. We therefore expected a pullback so we can sell high again. But from where I am standing, pressure to the downside is still strong. Remember to check DXY as well. Good luck :)

Moipone_Phakisi

Here is another one to short. If you are not already in from the head or right shoulder, I suggest you wait for a break of a Lower Lower and a pullback. The market always gives us opportunities to enter. There is no need to chase a falling knife :) Good luck!

Moipone_Phakisi

I know this ranging market has tested our patience by now but we have endured and I believe we are closer to seeing a break. I am still seeing shorting opportunities on GU but as usual, confirmations are needed. A break and retest of neckline would be one such confirmation to trade this shape and short to the measured move target. Please be patient and use good...

Moipone_Phakisi

After shorting yesterday we got a really nice pullback. So here is yet another opportunity to sell gold. Targets are in the demand zone. Good risk management is key to capital preservation. All the best :)

Moipone_Phakisi

I am also still short on GU. Confirmations for shorting have been aligning nicely since yesterday when I posted that I was selling :) A head and shoulders pattern inside a rising wedge forming in a zone of weekly supply. It was too obvious. If you are not in already wait for a pullback to the broken neckline or a pullback to a supply zone on a lower...

Moipone_Phakisi

I am still short on gold. Break and retest of that H1 demand currently supporting price would be a great entry. Good luck and use good risk management :)

Moipone_Phakisi

The market always gives us opportunities for re-entry. We just need to be patient enough to wait. A rising wegde break and retest. I am short on GU - we buy low and sell high. Good luck :)

Moipone_Phakisi

I do not know about you but I do not like buying high. This momentum to the upside is now exhausted. I am looking for shorting opportunities. But if you do go long please do so cautiously. Price is now in a strong Bearish Territory :) Good luck!