WandileM

WandileM

This seems like an easy setup, with everything pointing towards the down side. Let's break it down, shall we? We can see a clear uptrend which started from our significant line of support . In addition, we have a Head and shoulders pattern, which is a reversal pattern. Not only is “head and shoulders” known for trend reversals, but it’s also known for dandruff...

WandileM

Price has broken below and has retested the channel support. We can anticipate bearish movement as soon as a candle confirming the downside appears. Our #Stochastic is currently on the Overbought territory, with further substantiates this idea. HAPPY TRADING. Tread carefully.

WandileM Updated 

I haven't been keeping an eye on this setup, so I got to pay for that by missing the initial breakout. However, the upward/bullish sentiment is still prevalent, so we can still take advantage of that. As we can see, we had a pretty long descending channel and fortunately for us, it broke above the resistance line and we are now anticipating the market to test the...

WandileM Updated 

Cordial greetings. It's no secret that the markets have been behaving strangely (for a lack of a better term) lately. We've been seeing some crazy volatility and that can of course be good for some and bad for others, depending on which side of the market you are on. But let's put that aside and focus on the matter at hand... What we currently have here is an...

WandileM

Another week has started down here in sunny side South Africa and the markets have opened on a rather sad note, but I don't reckon that this will be the order of the day as the day unfolds. Getting back to the matter at hand, we have an ascending channel on our weekly chart, which indicates an uptrend. Prices are currently testing our support structure and we are...

WandileM

As we can see, the good ol' Dollar is THRASHING the yellow metal (GOLD). But as our analysis indicates to us, the Greenback's reign won't last for long as we can see that it is currently approaching the pennant/triangle support line/zone. With that being said, I believe that once the price tests our support line, we can expect a strong bullish movement and...

WandileM

The descending triangle is formed from two trendlines, one for high prices and one for lows. The upper trendline of the triangle is a descending trendline, while the lower trendline is a horizontal trendline. The resulting shape is a right triangle whose hypotenuse moves downward over time. In order to confirm a descending triangle on an asset’s chart, traders...

WandileM

We see a current head and shoulders pattern in play here. The market broke below our neckline and it is now being tested, which indicates a possible move to the downside. Another reason why we may anticipate a bearish movement is because the Aussie has prduced negative economic data based on: za.investing.com I may need to readjust my SL because it might be a bit...

WandileM Updated 

Not so long ago I posted an idea based on this pair and a lot has happened since then. Here we can clearly see that the descending channel has fully formed and the 6 touches on our channel's support and resistance lines respectively, further confirm the trend. The main question is: will the trend continue or are we in for a breakout above? Well, I personally hope...

WandileM Updated 

Not so long ago I published an idea on this pair (link below), but things didn't go as planned. What we have here is an ascending channel (still) and the market seems to have broken above and retraced back to the resistance level. I see this as an almost perfect opportunity to go long simply because I strongly anticipate a bullish movement due to the market...

WandileM Updated 

This pair has been on my watchlist for a while now and I've decided to put it back up just to share my ideas with the TradingView community. As we can see, we have an ascending channel that basically started around the second half of August 2018. Prices have been bouncing from support to resistance from then and I anticipate a continuation of this trend. The...

WandileM Updated 

Last week we saw a considerable drop in a lot of GBP pairs, but in this particular pair it seems like the Cable might make up for some of the losses it had last week. We all know that the drop was due to Brexit matters and so fourth, but I do tend to keep in mind that price action is greater than fundamental influences. With that being said, let's dive deeper...

WandileM Updated 

Price has been playing within the descending channel. However, the channel recently broke above, which could possibly mean that prices will continue moving upward. BUT, the price is currently testing the channel resistance, which could mean that we may see a perfect example of a "break and retest" formation. However, it could also mean that it was just a simple...

WandileM Updated 

My first analysis in 2019. Hoping everybody had a blessed Xmas and a very happy new year. Holidays are over now and it's time to hit the charts harder than before. It's '20-grind-teen' afterall. Anyhow, back to the subject at hand... Above we have a perfect ascending channel on the Cable. Despite the uncertainty clouding Great Britain due to the Brexit deal and...

WandileM Updated 

Gold prices are currently trading towards the channel resistance level. Once price tests this level, we would start looking for opportunities to go short. Fundamentals suggest that USD may continue to fall, but the charts are suggesting otherwise. Charts and price action does not lie. TP 1 & 2 are clearly indicated on the chart. Hoping for the best, but we just...

WandileM Updated 

USD/CHF approaching long-term resistance & signals potential drop.

WandileM Updated 

The market is currently making lower highs and higher lows, resulting in the formation of the symmetrical triangle above. This means that neither the buyers nor the sellers are pushing the price far enough to make a clear trend. In the chart above, you can see that the buyers are starting to gain strength because they are making higher lows. They keep putting...

WandileM

The downward channel broke above, thus creating an upward channel. Price recently tested channel resistance and we are now anticipating for it to reach channel support. Stochastic (14, 3, 3) has slightly broke below 80 level, signalling a sell. Fundamental for AUD came out negative: GDP Q3 at 0.3% against 0.6% forecast.