kingmwenja

kingmwenja

Price has hit a major 1.8900 zone on the weekly There is an M formation with neckline at 1.9200 on the weekly On the daily, I am expecting a test of 1.9050 If market closes above 1.9050 then price is headed to 1.9200 Sitting on my hands and waiting for something solid

kingmwenja

Price broke above 38375 daily region Price is looking to retest that region There is a three pin pattern on the 4h timeframe The 3 pin pattern has formed below two liquidity zones Price retested the 39430 region in the Asia session Momentum is too weak for now. Waiting for a solid entry that will make be sell to 39305.

kingmwenja

Weekly - M formation with the neckline at 1.9200 - Price has hit a major region at 1.8900 - Expecting upward movement to 1.9200 neckline Daily - Price is engulfed between 1.8925 and 1.9050 - If price closes above 1.9050 then I am buying to 1.9200 - Currently sitting on my hands and waiting to see what happens

kingmwenja

Weekly - Price closed above 38500 region - More upward momentum is expected Daily - Daily targets at -27.2 region at 38950 - Looking for a region to enter 4 H - Price retested 38750 which is a major liquidity region - However momentum is showing that orders are not enough - I am expecting another test of 38750 before I buy to 38950 - However, on the hourly,...

kingmwenja

Currently looking at US30 shorts. Here's why: - Three pin pattern on the daily and hence price will break the previous day's low. - Waiting for a head and shoulder formation on the 4H at 38530. - Once price retests, I am looking to sell

kingmwenja

I do not have a setup or an entry but overall hypothesis is short. Here is why; - The monthly is bearish since it has formed a lower low setup. - The monthly also broke a supportive handle at 1.89500. Using the fib, we know that overall targets are at 1.8565. - No weekly bias - Price on the daily and 4h timeframe is looking for a region where it will collect...

kingmwenja

I do not have an entry as of now but every timeframe is indicating that GBPJPY will go short. Here's why; - The monthly timeframe will likely close in a 3 pin pattern showing downside momentum. - The monthly candlestick closed below a supportive level which I can see through the body closure at 182.20 that seemed to have held price for 5 months - The weekly has...

kingmwenja Updated 

Here's why; Price has not reached the monthly target of 36700. With that in mind I am aware that all price is doing is collecting orders before moving up. The weekly had such a strong bullish close. This indicates that price is only going to go up from then on. Price closed above the daily region of 36067 and retested it twice. On the 4 hour timeframe, there is a...

kingmwenja Updated 

Here's why; - 189.5 monthly targets not yet reached - Since the monthly target's are not yet achieved, all price is doing is going to areas of liquidity to collect orders before the uproar. - Major daily level has been tested at 185.15. - There is also an M formation on the daily formation and it is yet to be retested. - All the confluences are pointing...

kingmwenja Updated 

There are numerous reasons why US30 is going long. Here's why; - Monthly target of 36700 not yet achieved. - Since the monthly target is not achieved yet, all price is doing is collecting orders before the uproar begins. - Strong bullish weekly closure. - From past experience I know that the previous day candle stick closure indicates that price is bullish. -...

kingmwenja Updated 

There are numerous confluences that indicate that the pair may be going long Here's why; - Price is at a major weekly support level - There is an M formation and hence we are waiting for the restest of the neckline at 1.9125 - There is a strong closure break out candle on the 4h. It has broken past 1.9020 which is a major liquidity level. I am waiting for a retest...

kingmwenja Updated 

I am currently monitoring sells on GBPAUD. There are many confluences that support my thesis. - Price closed back down on the monthly 1.9200 level. - Double top on the weekly - Price formed a bearish setup (lower low) on the daily timeframe and it didn't hit the -27.2 fib level. - It has retested a major daily level on the daily level and a rush of bearish...

kingmwenja Updated 

I do not have a pin point entry for GBPJPY longs but all the timeframes are suggesting that price is gonna explode to 183.5 Here's why: - Monthly targets of 183.5 have not been achieved. - The previous week's candle closure was extremely bullish - So price is looking for a liquidity zone to collect orders before the uproar - There is a retracement on the daily...