joebakwa7

joebakwa7

Last week, the COT data came out and showed that with time, the CHF has been becoming strong against the GBP and the technicals have been proving it. On the weekly weekly chart, the candle has flipped bearish meaning that the long impulse could be coming to a close. We are most likely to see a retracement on the weekly which will be a huge opportunity to short the...

joebakwa7

This pair has been trending up and on the higher time frame, there is still clean range to the upside for this pair to move and fill. With the evidence of a bullish pennant, i believe this pair to be pushing up further more to fill the range marked by the green lines. I also believe that according to the COT data, this week, the short move involving the CHF has...

joebakwa7 Updated 

This pair has been trending up and quite possibly could still be trending up, however, the market is currently at resistance evidenced by the trendline its touching right now. I expect the market to bounce off the trendline and move to the support area evidenced by the blue rectangle before continuing to the upside. What are your thoughts on this pair?

joebakwa7

Well, this pair has been trending to the upside, in fact it seems to have reversed direction into an uptrend but before that happens, a retest of the now broken 200SMA on the daily chart, has to happen before we can confirm an uptrend. Looking to take advantage of the existing opportunity as soon as the market breaks 0.92805 areas and closed below on the 1hr. The...

joebakwa7

This pair has been trending to the upside until something interesting happened. The market created a long wick to the upside on the weekly chart, and the market as we speak is heading up to fill the wick and retest the broken structure on the weekly chart to complete the impulse and correction pattern. This can be seen with the ascending wedge as you can see. As...

joebakwa7 Updated 

Gold has been in a channel but as you can see the channel is narrowing to the downside, and has tapped the upper trendline. If Gold can break the current support its on, then will be looking for sells to retest the previous low on the green line before a possible growth on Gold. Will be looking for buys if Gold can break the upper trendline. What are your...

joebakwa7

This pair has been among the trendy pairs for the past weeks. The market has currently broken the resistance line to the upside with a nice impulse. but after an impulse there is always a correction to at least the 0.382 of the Fibonacci retracement. Currently the market is in a resistance zone (purple rectangle) and as soon as the market breaks the low of the...

joebakwa7

The impulse to the upside on GBPJPY has been going on for some time and congrats to those that have been in the move. But as you know after and impulse there is always a correction to at least the 0.382 of the Fibonacci retracement which can ben seen on the weekly chart. Since the current bearish candle on the weekly has respected the high of the previous bullish...

joebakwa7

As we wait for the retest of the previous broken structure at 1906.92, the market is reaching the high at 1965.47, then retesting the broken level (1906.92), and the big move to the upside will most likely happen. Am looking on getting in on the retest trade on the daily after resistance has been formed and afterwards join in on the move to the upside to the high...

joebakwa7

The market has broken a powerful resistance area at 1.34820, not once, but twice. The first attempt, the bears brought the market down to the trend line and the 2nd attempt, the bulls took the market up and a clean break of the resistance area was seen with a rush up to 1.37000. After this, the market has retested the previous broken level at 1.35690. The initial...

joebakwa7

Well, was patiently waiting for the market to break out of the wedge on the 4 hour chart and finally did at 0.76202, now we have a retest of major support at 0.76450 which indicates a strong buy signal. According to my plan, there are some confirmatory signals as well to back up this analysis such as, the market being above the 200 day period moving average on the...