Muchangi

Muchangi

So what are we lookin at? We have been looking at the weakest price in dollar yet.Yesterday we tested the yearly lows at 97.700 which we are using as current baseline. I will mark up that price range to use as our support. Geopolitical tensions are cooling off as Trump called for ceasefire between the two war torn nations but we still have lots of economic data...

Muchangi

We are in a sticky situation as Trump ordered strikes against Iran during the weekend which was bound to shake up the foreign exchange market.Thats the major reason for volatility witnessed today during early sessions. And like the warlords it time to make money.There is still little information to work with so we will wait till New York session to see if there...

Muchangi

We are done with the week. If you've not been profitable no need for panic cause the market never stops running.We will still have plenty of opportunities to come, what's important is to remain calm and sane and prepared for a new week. Always trust the process and have a lovely weekend.

Muchangi

The DXY did not hold a successful break above 99.000 which was our bullish signal. Furthermore, we had US banks closed for yesterday's NY session which did not do us any good as there was minimal movements in our charts. Without volatility there is little room for profit chasing as much as our USDJPY signal was on point. Today's session started with a gap lower...

Muchangi

There was not much to yesterday as we awaited the FOMC minutes to know the Fed's rates decision.Interest rates remain unchanged so unless there are geopolitical catalysts I expect the dollar to rebound to 100.00 if there is successive break above 99.00. Subsequently leading to a higher price in dollar v yen. Patiently waiting to long this pair step by step. If...

Muchangi

So we are in the midst of an international crisis. Middle eastern tensions are always bound to shake up the market so even with all the information; economic data and technical analysis. We should always expect surprises. With that being said let's jump right into analysis of the dollar v yen pair.We have been range bound for the past two months in a wide range...

Muchangi

What's next from this point. The month of June signals the start of quarter three based on the quarterly theory.Q3 is also referred to as the distribution phase or expansion.Given that information we expect to see expansion in majority of the market charts. Our main focus is on DXY( Dollar index) which we pair against a basket of other currencies to get more...

Muchangi

1. the throwing back by a body or surface of light, heat, or sound without absorbing it. Similar: sending back throwing back casting back mirroring Opposite: absorption 2. serious thought or consideration. Similar: thought,thinking I use the weekend to self reflect on the previous trading week and make plans for the next trading week. Failing to plan is planning...

Muchangi

Honestly,we've been ranging and I'm hoping tomorycan give us direction and momentum. By momentum I mean enough volume to give us a bullish or bearish spectrum. We have ATH priced at 109,000 and recent monthly lows priced at 89,000 which serves as our range . A break below 89,000 sets us back to 78,000 (atleast). Otherwise, if we break above ATH then we go in...

Muchangi

You own your capital and you own your moves in the market.With that said ,you are responsible for what you do in the markets. As I am also a student ,I think your stop loss in more important than your take profit. I'm also learning day to day so the most important thing is to show up to class daily, the charts are your class. Whether it's profits or losses that is...

Muchangi

I'd say it has been an excellent week but I don't have tomorrow performance to support my statement.We still have more data tomorrow,NFP,which has very strong impact on monthly performance. Today we received rate cuts on the pound which sent it to the ground but for a few hours. I lost 30 pips on a buy @ 1.25 after the pound sunk to daily lows at 1.235. Since then...

Muchangi

Today we had PMI services data and unemployment change figures which were mixed for the dollar.This week we have faced a declining dollar up from weekly highs on Monday @ 110.00. So before NFP data on Friday I expect GBPUSD price to go to record new highs close to 1.26 before we get further momentum. Waiting on Friday's data to get monthly bias on USD based pairs....

Muchangi

We are back. It has been a long week but I have been in the forex market as always,even the teacher should go back to his books and learn more.Last week we had monthly closes on all pairs which we are supposed to use to give us direction and momentum into the new month. POTUS has brought back volatility into the market with the recent tariff trade wars. The...

Muchangi

It's yet another week to make money or lose money depending on what you do about your charts.We have started off the week with a bearish BTC testing it's weekly lows of 100k and breaking below to 98k. If the downward trend persists then we might be seeing new lows upto recent monthly low of 89k. Since its only the beginning of the week let's wait for more price...

Muchangi

We have the close of week 2 and I can are also coming towards the end of the month.First month of year which was bullish mainly because we are coming from recent US elections where Trump won.This has caused volatility in the dollar,Gold and cryptocurrency fields. The week will close bearish for Dxy as we look to be in the start of a correction of the move from...

Muchangi

I got my sl triggered but later took a re-entry on the buy idea posted.Just closed with 80 pips profit. Now waiting for today's GBP data to see whether we add more buy positions to push up towards 1.24300 or it the pound gets weaker and we sell to weekly lows.

Muchangi

My sls were triggered which was disappointing but good for the account.Lost 50 pips in Bitcoin as it sold off during the New York session yesterday.I am still bullish on this pair as long as 97,000 is pivot.Still looking to add entries as I believe we will be buying to new highs by tomorrow or next week As for GBPUSD,I'm still bullish as long as there is no break...

Muchangi

Following my earlier entries at 1.23200 where we bought GBP for 40 pips and booked some partials.I expect price to rally towards 1.24800 to complete the buy phase and lock in all profits.