Mkforbes_fx

Mkforbes_fx

A clean uptrend move which I caught on F40. initially on the daily chart we saw an engulfing candle which closed right above the previous bear candle on Wednesday Feb 14th. This candlestick pattern emphasised that F40 was looking to continue the uptrend and potentially break 7700. This move was 360 pips in total. No indicators, just simple price action.

Mkforbes_fx

My current analysis on EJ. As you can see we are still in this major bull run which started back in the December 2023. This chart tends to make very nice patterns on the daily chart. There is a huge supply and demand zone area between price 161.805 and 161.362. I would like to give you an insight on the price action around this area. As price enters that zone on...

Mkforbes_fx

As we can see from our previous prediction on BTC, price has clearly broken our TP at 59000. Congratulations to BTC and anyone who held over the years and also to anyone who entered any of my buy trades previously. I must say that I do believe we will continue to 65000 which was the most previous all time high for this pair. Very good moves for Bitcoin. But, I...

Mkforbes_fx Updated 

Previously we had set ups on BTC to push to 47500. This was achieved, since then BTC has been on a continuous bull trend. Our new entries are at 52065, aiming for 59000 which is the next resistance level. When it comes to BTC there are too many novices posting random ideas, not to say that they are wrong but BTC is just like any other chart. We are in BUYS with a...

Mkforbes_fx

There are many confluences as to how I caught this trade set up today. Firstly on the Daily and Weekly we can see price made its way up to 0.82814. After this we could anticipate that the bulls are in the market. Once price broke this price level, we wait for a pull back and there entered at price 0.82885 which is a few pips above. Currently we are in about 26...

Mkforbes_fx Updated 

We are currently watching this pair closely. As you can see from a higher time frame, GBPNZD is in a down trend. So we will initially be looking for entries to sell. Zooming into the 4hr chart, we can see that price is retesting a resistance zone at around 1.93900. Reflecting from this, price made a solid pin bar candlestick which closed under our 50 EMA,...

Mkforbes_fx

From observing this pair in-depth, we can see that price has reached a strong support level @1.93750. As this is a key level, we would naturally expect price to react. As you can see, price reversed and we have had a decent amount of buyers trading today (15/06/20). Price also looks to be making a solid double bottom. So we are looking for buys up to the next...

Mkforbes_fx

Another range bound market making a nice setup to continue down. We can see here that price has created a range between 66.131 and 63.474. We would anticipate that when price will sell at this resistance after creating a nice bearish pin-bar. Although there was indecision in the market, sellers have managed to enter at a decent price. Now, for us to change our...

Mkforbes_fx

An obvious setup during a range bound market. We can see here that price has created a strong range between 1.09858 and 1.07798, and this is clear on my chart. As you can see, price is now at the resistance in this range and we can see a nice reversal pattern. Now, if price decides to move higher, then we would look for a solid break through of the resistance...

Mkforbes_fx

Following USDCAD, we can see this major consolidation zone which has been around since Covid-19's Lock-down began. So, lets break this down further, this pair is in a range between my descending Trendline and this major support at 1.38701. As price rallied downwards last week, we came to our support zone and we did not break this support zone. Therefore, we...

Mkforbes_fx

As we all know, GOLD (XAUUSD) has been in a very strong uptrend from lows at around 1450, reaching highs of 1738 and 1764. Following an aggressive sell off yesterday by the bears, we can anticipate that price is just looking for a better opportunity to continue the uptrend for the long term. Also, price has continued to stay strongly above the 200 moving average...