Muchangi

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.

Muchangi

Alot has happened in the last 48hrs. POTUS comments on US trade tariffs which jolted the dollar index lower below the 108 mark.This changes my earlier analysis where we had a weak GBP.So today we are buying to new weekly highs @ 1.24

Muchangi

Currently reviewing my positions ahead of New York open less than 2 hours from now. I expect BTC to trade even higher for today and tomorrow as price rallies towards the liquidity zone located higher at 109,000 which is the new ATH.

Muchangi

The week started strongly despite the day being a bank holiday.I had my stop loss triggered at 10 pips from entry but executed another sell order higher at 1.23000. RR is 1:2 and expect price to go down to 1.22000. For XAUUSD, we are currently in an uptrend as gold remains to trade higher and the same goes for BTCUSD.

Muchangi

As stated earlier today we have the swearing in of US president elect Donald Trump which is scheduled for New York AM session. Today being a Monday ,we normally have the market ranging but for today we will be looking at the market differently. Market could be volatile during those hours and I expect price swings which could affect your account positively or...

Muchangi

Crazy moves for BTC on the weekend ahead of Trump's inauguration ceremony later today. Let's be patient and wait for the market to give us clear direction as it's only the start of the week.

Muchangi

As for XAUUSD I expect the pair to close higher this week with the weekly candle testing yearly highs at 2715.The question is how high do we go, and what price should serve as our entry point.2700 serves as one and 2690 serves as the next price poi.

Muchangi

We are onto new highs for Gold with the metal testing new highs during earlier sessions. Next price which serves as POI is 2615 which I expect the bulls to challenge during the NY session. As for GBPUSD we are witnessing a ranging dollar and it seems traders are undecided on whether to push it higher to 115 or continuation of the correction from last week's new...