KatlehoMaleka

KatlehoMaleka

Good day traders. Here we got a textbook falling wedge, with price completing a textbook morning star candlestick pattern. We also got major bullish divergence on the RSI. I have not seen a better buy opportunity than this one so far this year, it is a textbook setup even though those can still go wrong. But, I would take this trade every day and twice on Sunday.

KatlehoMaleka

Good day traders. Here is the trade setup on that EURUSD Daily analysis from my previous post. Firstly, we have a broken ascending trendline. Secondly, we have a Head and Shoulders pattern, which is a trend reversal pattern. Lastly, we have a corrective structure in form of a bearish flag. I will sell if it breaks out of the flag, that is my confirmation. The...

KatlehoMaleka

Good day traders. A rising wedge pattern on this pair, on the Daily chart. This is the timeframe I do my analysis, and look for trade setups on lower timeframes. I shall post my trade setup shortly after I post this trade idea. Look out for that one. I am posting this higher timeframe analysis to show where my trade setups will come from moving forward. No longer...

KatlehoMaleka

Good day traders. A clear horizontal channel on this pair, with price currently at the resistance zone. After Friday's bearish candle, it has completed an Evening Star pattern. For those not familiar with the Evening Star pattern, it is bearish candlestick pattern which usually appears when the trend is about to reverse. I will be waiting for a breakout of the...

KatlehoMaleka

This is a follow up on my previous analysis on Oil. This is it on a lower time frame and my view has not changed at all. Looks like it is still has some upside to go, but according to my analysis, that will be short-lived. We have a bearish cypher pattern and bearish gartley pattern both completing at $73. If you remember from my previous analysis on the higher...

KatlehoMaleka

I have a bearish outlook on Oil. According to my analysis, we have reached the end of the 5 Elliot waves, so we are most likely to see a correction now. That theory goes with the possible Head and Shoulders, and looks like we are on the right shoulder at the moment, right at the 61.8 fib. We also have great bearish divergence on the RSI. I'm bearish on Oil, at...

KatlehoMaleka

It has been a quiet week so far and I am not seeing any great opportunities in the market this week, except this one. This GBPCHF with a possible inverse Head and Shoulders. Price broke the descending trend line, indicating a possible trend change and now it looks like we also have that inverse Head and Shoulders. On the Daily chart, it just completed a bullish...

KatlehoMaleka

This is so far the only trade setup that has caught my eye for the upcoming week. This pair is still in a downtrend, so I'm looking to sell it. Price is currently at a resistance zone, that looks like its holding and its also testing a descending trend line, which seems like its holding too. A good trade here with low risk and a big potential reward, roughly 1:3...

KatlehoMaleka

Nice trade setup here. Simple bullish butterfly pattern. We can see the clear rejection on 127 extension.Some bullish divergence on RSI also.

KatlehoMaleka

Another interesting trade setup for this week. We have a possible Head and Shoulders here, with price being at an important resistance zone on the higher time frame (not shown here). Also the massive bearish divergence on the RSI, it adds to my hypothesis that we might see a trend change here. A break of the ascending trend line will be the confirmation.

KatlehoMaleka

Another pair on my watchlist for the upcoming trading week. It's EURCAD and it looks like it is breaking out of a bearish flag. We can see the confluence there, with the descending trend line from the Daily chart, the previous support zone which has turned into resistance and also the 61.8 fib. The point of least resistance here is down, at least until the support...

KatlehoMaleka

On my watchlist this coming week is AUDNZD. Price is currently in an ascending channel, its almost at the ascending trend line, where we will see a bounce or break, but, I'm counting on the former. There is a possible ABCDE Elliot wave correction, and price might just go up and complete the E leg. On this one, I will first wait for bullish candlestick info, that...

KatlehoMaleka

I have had a bearish outlook on the S&P 500 for a while. And now we have two bearish harmonic patterns, complementing each other. We have the bearish butterfly pattern and the bearish crab pattern. We also have the massive bearish divergence on the RSI. It seems this bull market is running out of steam and a correction might be coming soon.

KatlehoMaleka

Here we have the Standard and Poor's 500 index. I've had a bearish outlook on the S&P 500 for a while, it seems to me that this bull market is running out of steam. And we can see a possible bearish butterfly pattern on the chart. My analysis is that when this butterfly pattern completes, it might bring the long awaited correction. We can also see the massive...

KatlehoMaleka

My last trade setup for this week. Price is currently sitting at the ascending trend line of an ascending channel. That's a reason for a buy, since this pair is clearly still in an uptrend and this might be the higher low. Also price is currently in a bullish flag, and the conservative way to trade this will be to wait for the break of the bullish flag. The target...

KatlehoMaleka

We have yet another good trade setup here. It's not the perfect inverse Head and Shoulders, but that bullish flag on the shoulder makes up for it and it also retraced at the golden ratio, which is the 61.8 percent. If we get an upward break of the bullish flag, we will probably see a rally that takes us to the 1.618 extension. Reasons for the trade: 1. Bullish...

KatlehoMaleka

Another good setup we have here. Price broke an ascending trend line, indicating a change of trend. Price proceeded to retest the trend line and it found resistance. We also have a potential Head and Shoulders, with the right shoulder getting rejected at the 61.8 fib, with a double top. Despite the results that will come, this is a good trade. win or loss.

KatlehoMaleka

This is the best setup I have for this coming week. EURAUD, broke out of a range, then price went back to test the bottom of the range or rather the previous support zone which has turned into resistance. It also got rejected at the 50 percent fib and then it broke out of the corrective structure, one might say a bearish flag. I see this pair moving even beyond...