MngomezuluCapital

MngomezuluCapital

Bitcoin has overall been bullish and given us a clear breakout earlier this year. However, in the short-term price has been corrective, but it looks like the correction is finally over as price has broken out of its descending wedge pattern. Furthermore, we've flipped the 28901 level of resistance into support which shows it that we can expect more bullish price...

MngomezuluCapital

Took a long position on the UK 100 last week as price retested my trendline and respected it as dynamic support. Expecting price to continue to be bullish as long as we continue trading above the bullish order block at 7453.2. TP - 7903.1 SL - 7436.8

MngomezuluCapital

US 30 is very clearly in a bull market thus I've taken on a buy using confirmation on the lower timeframes. Price has rejected a key level of support at 35003.50 and has broken past the level of resistance at 35131.97. Expecting price to push all the way to 35685.29. TP - 35685.29 SL - 35003.50

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Placed a buy order on the Singapore 30 last week as price has continued to show strong bullish momentum. Price not only broke past its bullish order block at 291.95 but it also give us a breakout on its downward fan showing that it is going to continue to push to the upside. Buyers should look to add more positions once price either breaks above its key level...

MngomezuluCapital

Entered a long position on WTI Oil last week as price gave us confirmation that it was going to continue its rally to the upside. Not only did we get a clear breakout from its downward fan, but we also saw price break above its order block and hold it as support. If you are looking to buy now rather wait until price retests its order block at 79.134 or until it...

MngomezuluCapital

Expecting the Euro to continue its bullish trend in the long term as I expect the dollar to continue to push downwards. Also, I've identified multiple confluences that support the bullish case for the Euro such as the break of multiple fans and a rejection of the order block at 1.09970. As long as price stays above this order block and most importantly manages to...

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Placing a sell on USDJPY as price has given us a break of bullish market structure. Also, price has broken out the previous dynamic support and given us a pullback to enter for low risk. If price continues to fail at breaking previous highs, then price should continue to go to the downside. Targeting the range low / base point of the trendline and placing stops...

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Setting a buy limit on GBPCAD at the support of its bearish order block at 1.66530. Expecting price to continue its bullish momentum as we've broken out of its dynamic resistance. Therefore, we should be looking for buys as soon as GBPCAD gives us a significant pullback. Targeting the base point of the trendline and placing stops below the previous swing low. TP...

MngomezuluCapital

US 30 has been stuck trading in a range between 34554.14 and 33735.12. Price has just taken out liquidity at the equal highs, therefore we should expect a push towards the downside in the short term. TP - 33735.12 SL - 34554.14

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Taking advantage of the correction on NASDAQ before we get the next bullish impulse to the upside. Buy side liquidity was taken out at the equal highs at 15714.66, therefore we should be expecting bearish movement from here until we retest our order block at 14676.87. TP - 14676.87 SL - 15656.25

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Still long on DAX however, I've opted to exit my previous position and re-enter for a better RR at the previous bullish order block as I believe price will come back to this level to take out the liquidity below the support level at 15994.6. Once price retests the bullish order block at 15916.20 it should be safe to enter long positions as price should take out...

MngomezuluCapital

Looking to enter a buy on NASDAQ once it retests its order block at 14676.87. Price has clearly broken structure and invalidated any bearish setup in the medium term. Re-looking at my wave count it seems we were in the fifth and final wave of the Elliot wave Supercycle thus price should take out the previous all-time high on Nasdaq and create a new one. Stops...

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Taking a short term buy on DAX as it seems my bearish setup was invalidated. Price is currently in creating the 5th Elliot Wave and we should see price take out the all-time high on DAX in the short term. Price not only has given us a break and pull back of the dynamic resistance, but we are also holding this key area of support at 16071.8. Trade will be...

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Taking a short position on the SA/JSE 40 as price has broken out of our dynamic support, pulled back and continued to breakout to the downside. On an Elliot wave perspective, it looks like we have completed an entire bullish wave as I have identified 5 motives waves in the Supercycle which means we would have to see 3 corrective waves going to the downside....

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It seems as if the German stock market has finally topped out at 16426.50. The reason I say this is due to the following technical factors - The market has created the 3rd Elliot wave in the supercyle. The market has taken out the sell side liquidity above 16334.50 where the majority of retail traders have placed their stop losses for sell trades earlier this...

MngomezuluCapital

As I shared in my previous post on Bitcoin, I think Bitcoin as re-entered into a bull market due to the change in trend and bullish characteristics the market has been showing us lately. However, relooking at my analysis I have realized that I may have entered to early on my long and have exited all my positions as I believe we are still going to see a short-term...

MngomezuluCapital

Entered a sell trade on Nasdaq as price has retested our descending channels resistance as discussed in my previous post and will be holding this sell until price takes out the previous swing high. I will, however continue to be bearish on Nasdaq until price reaches our invalidation level at 15283.99. TP - 12961.21 SL - 15064.33 Invalidation - 15283.99

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Taking a sell position on Gold as price has broken out of our second fan and price is moving in a clear downtrend as discussed in my previous post. Setup is invalidated once price breaks above the previous high. TP - 1617.726 Invalidation/SL - 1968.49