Moipone_Phakisi

Moipone_Phakisi

This quadruple top rejection pattern on the H1 timeframe is currently in play and it is a strong indication or confirmation that the bearish correction will likely resume next week. If you are unsure when to enter short positions for this trade setup, wait for a demand zone to break, followed by a pullback and continue to ride the bearish momentum and target the...

Moipone_Phakisi

There is no denying that the overall trend is still bearish. However, price is currently respecting an H4 demand zone - which might continue to apply pressure to the upside for a minor correction. Of course, if this correction does not happen and the H4 demand zone breaks, then we continue to ride the trend to the downside and all the way to the next weekly TF...

Moipone_Phakisi

The daily timeframe bullish flag is a strong indication that the market is preparing for another bull run. The target for this will be around $140k - slightly higher. I am anticipating a minor pullback to either one of the daily demand zones - (most likely the highest one) before the bulls take over.

Moipone_Phakisi

That inverted head and shoulders pattern on is what is still giving me the confidence that the bulls will soon take over this market with a high probability of new All Time Highs. At the moment however, I am patiently aways the possibility of a retest to the H4 demand zone as indicated by the downward pointing arrow. The bullish move might only happen in ful...

Moipone_Phakisi

Looking at the daily timeframe, I am still seeing strong signs of a bullish confirmations. Firstly that daily support zone has been rejecting the bears' efforts since the beginning of this month and now we have a 3rd touch of the support trendline. As long as that daily support zone continues to hold, I remain bullish overall. Even if there still consolidation...

Moipone_Phakisi

Head and shoulders Pattern and bearish flag are strong confirmations that the overall trend is still bearish. However, now that the neckline of this H & S Pattern has been broken, be on the lookout for a minor retest before the downtrend resumes. Patience Pays. The Trend is Your Friend.

Moipone_Phakisi

About a week ago I posted that USDCAD is in a downtrend but I saw a potential for a retracement and a bounce in daily demand. The bounce happened and price retested a daily resistance zone. Now I believe the trend will continue to the downside.

Moipone_Phakisi

Bullish confirmations to look out for: 1. Break of the double bottom rejection pattern neckline to validate the pattern 2. Breakout and retest of the resistance trendline 3. Creation of new higher lows on H4 and H1 Timeframes following the above confirmations

Moipone_Phakisi

Is price finally headed towards All Time Highs? Looks like it has broken out of a falling wedge aftter retesting a daily demand zone and high confluence zone on H4 TF.

Moipone_Phakisi

It looks to me that price was retesting this head and shoulders following the breakout of the neckline. If the current H4 resistance zone holds and we get a breakout of the bearish flag then the downtrend will resume.

Moipone_Phakisi

Descending wedges and channels usually breakout to the upside while ascending wedges and channels usually breakout to the downside. We currently have an ascending channel on the H4 TF. But as usual, nothing is confirmed until a clear breakout and retest.

Moipone_Phakisi

I am looking at this inverse head and shoulders on the daily TF as a strong confirmation that the overall trend is still bullish. However, there is a strong probability of a pullback to either daily demand or the right shoulder region before the uptrend resumes.

Moipone_Phakisi

Price continues to decline while respecting the daily resistance trendline. The next target is daily demand zone as shown and if it bounces in that zone and retraces it will continue to drop until weekly demand has been retested.

Moipone_Phakisi

Despite price being in a daily resistance zone, GBPJPY is still showing strong signs of being bullish. I would caution against committing to any short positions - at least on a long term basis.

Moipone_Phakisi

Price being in resistance zones should not be an automatic sign that we should start selling. The trend is still bullish until we see clear signs of a reversal.

Moipone_Phakisi

After price broke out of a bullish flag it retested a newly formed weekly demand zone. All this confirmations on a high timeframe are strong indications that pressure is still to the upside and will likely continue to be so for some weeks to come

Moipone_Phakisi

Consistent daily demand zones are being created in this uptrend, signalling this is still a buyers' market. Momentum to the upside will continue and new All Time Highs will be claimed as long as new demand zones on H4 and daily timeframes are created.

Moipone_Phakisi

DXY is weak and it is therefore not surprising that GBPUSD is gaining strength. According to the rules of the bull flag measured move target, the bulls will be in this ride for a while. As long as that H4 demand continues to hold, look for buying opportunities and ride the trend to the upside.