Moipone_Phakisi

Moipone_Phakisi

All signs and confirmations are pointing towards a bearish GU. The dollar appears to be strong right now so this is well aligned. A retest of the broken Double Top Rejection should be confirmation enough to short. All the best :)

Moipone_Phakisi

I am bullish on Gold - at least until the current ATH is taken out. Technicals are very clear and consistent when it comes to the creation of new ATHs - a pullback will follow. This is aligned with the rising wedge formation I am currently seeing which as we all know, has a bearish bias.

Moipone_Phakisi

Not much to say about this setup really but if you are risk averse wait for extra confirmation in the form of a break and retest of the neckline. Price action is beautiful. Especially when you get to a point where you start seeing the patterns before they fully form? Good luck :)

Moipone_Phakisi

Now that CPI noise has died down a bit I am seeing a clearer direction. For one, DXY is still respecting a strong daily demand so my bearish bias on GU has some backing. Also, this is looking like a classic textbook break and retest of a rising wedge is it not? Good luck :)

Moipone_Phakisi

I did a Top Down Analysis on EURCAD and identified a Head and Shoulders Pattern on H4 timeframe. This bearish continuation pattern will breakout to the downside and I am shorting to the bottom of the neckline of said Head and shoulders. Dont take my word for it though, use your own confirmations if you will. But the bears are strong in this market. All the best :)

Moipone_Phakisi

I am bearish on indices and normally I would have already jumped into this trade but the sort of trader I am becoming lately is less aggressive and more patient :) If you are not already in please wait for a break and retest of H4 watchzone/demand and enjoy this ride all the way to H4 demand and possibly to daily demand too. All the best :)

Moipone_Phakisi

Gold is currently bound by a range. This is a clear consolidation which is pending a breakout. This range will likely continue until a high impact news event (insert here NFP) brings enough volatility to break it. For now we all know what we do in a consolidating market - we sell in resistance and buy in support. Good luck :)

Moipone_Phakisi

EURJPY and GBPJPY are positively correlated and right now they are showing similar bearish patterns on the H1 TF. Buy one get one free :) Enjoy :)

Moipone_Phakisi

EURJPY and EURUSD are positively correlated. I am short on EU and this pattern on EJ therefore does not surprise me. Technically speaking though, my stop loss should be above the "head" as this is the last HH created. But I needed the RR to make sense for me to take this trade :) Enjoy :)

Moipone_Phakisi

A recurring theme today is to short whatever is not the dollar :) Rising wedge formation in a higher TF supply zone is confirmation for shorting if I ever I have come across one. I know price will likely rally way beyond TP2 as shown on the setup but it is Monday. #greedmustfall Good luck :)

Moipone_Phakisi

Most of these anti dollar instruments seem to be telling a similar story. This BTC chart is giving me a feeling of Deja vu. I feel like it was not too long ago when I saw a similar setup. In any case, as long as price continues to respect that H4 wz/demand and does not break the last Higher High created, I remain bearish - even if it might just be a pullback...

Moipone_Phakisi

This to me is looking like a rising wedge formation - which as we know, has a bearish bias. Another break and retest scenario has taken place much like what we saw on GBPUSD (positive correlation observed). I am however going to use that H4 supply zone to validate my shorting positions. If broken then I will re-evaluate. For now I am just patiently waiting for...

Moipone_Phakisi

I am currently seeing a broken and retested diagonal support trendline on the 4 hour time frame chart. As long as H4 supply is respected we should short GU - especially when lower TF demand zones are violated (extra confluence). I am eyeing this setup together with that of DXY of course. All the best and a pipful week ahead to you all :)

Moipone_Phakisi

I am bullish on Gold. Any movements to the downside will be pullbacks or false breakouts. If that bullish pennant breaks to the upside price will retest weekly highs For now I am looking for confirmations to enter on LTFs. Good luck and use the volatility provided by news to your advantage :)

Moipone_Phakisi

W formation with a broken neckline followed by a pullback - Checked. Pullback in a form of a bullish continuation pattern that has been broken and retested - Checked. Price bouncing off a demand zone - Checked. DXY is currently bearish (negative correlation observed) - Checked. Let's go long on Gold. All the best :)

Moipone_Phakisi

I just love it when shapes interlock and tell us a story. The story here has been a consistent one. Although price has been ranging on H4 TF, we have been able to sell in resistance and buy in support because of these shapes giving us confirmations to do so. Well now is time to short US30, and thanks to this rising wedge formation, we have a high probability...

Moipone_Phakisi

These head and shoulders patterns and W and M formations have become my bread and butter. I seldom trade these days unless I see a pattern like this alongside other confirmations of course. I have two positions open and I will TP both as shown while trailing my stop loss of course. Use good risk management and enjoy this setup. All the best and a happy new week...

Moipone_Phakisi

Momentum to the downside today was great. It was slow and steady. A head and shoulders pattern with broken neckline was formed and now we have a neckline that needs to be retested - hence the long signal. I am looking to go take profit but the neckline although it is likely for price to up a bit further than that. All the best should you decide to take the...