TheWallPipsJournal

TheWallPipsJournal Updated 

Hi, If we look at the channel on the 1h chart of GBPUSD. We can see there is a breakout following the above average result of retail sales report of the US. The breakout can signal as the bear move for the pair and to do a sellout on the GBPUSD might be tempting. However, it is also noted that the UK also posted a good CPI report earlier. Therefore, I am...

TheWallPipsJournal Updated 

If you look at my chart on 1Hour timeframe previously, we can see a channel where the pair currently in the zone. We did see that the channel was touched and the pair reverse. Now lets see on a bigger timeframe on 4H timeframe. We see that there is a possibility on the second bounce where the pair is get back on the bull side. As we are preparing on upcoming...

TheWallPipsJournal Updated 

Hi, There was a breakout on the channel few days ago. However, the bearish movement was quite short-lived due to the disappointed job result on the USD side. Now, The price is back in the channel zone and it has bounced on the line twice which is a proof the uptrend is on the move. There is also a resistance in the process, if breached, will signal a further...

TheWallPipsJournal Updated 

Hi, Jakarta Composite Index (IHSG) has been on the downtrend for the last one month. If we look at the chart, we can find a double top which the support has been breached and become a resistance. The Index has just tested the resistance and pull back which can signal a possible downtrend. The key points for a further down will be : 1. Covid 19 Vaccination has...

TheWallPipsJournal Updated 

Hi, AAPL daily chart has completed the formation of Head and Shoulders pattern and it is now breached. If the price goes up in the next few days and pull back on the line, it will confirm the drop. I am in the position of selling some of the portion until the next confirmation. The drop should be contributed by the the plan of the technology titan to produce...

TheWallPipsJournal Updated 

Hi, If you are looking on 4H Chart, there is a trendline which has been breached which is signaling a downtrend. Lets look at the smaller timeframe where we can decide on our next move. I am going to the 15M chart to find another downtrend channel that could contribute to a further downfall of the GBPUSD. Note that if the channel breached the upper channel,...

TheWallPipsJournal Updated 

Hi, Based on the 4H Chart, we can see double top, the trendline breakout, the inability of breaking out the resistance and now, a triangle for the stronger movement of the USD. A triangle might signal to go up or down. However, due to the recovery in the US Job Market and Biden Stimulus passed, I am going to treat the triangle as the continuation of the...

TheWallPipsJournal Updated 

Hi, I found a cup and handle formation on 1H Chart. The breakout shows that the Gold is losing it momentum. I am still bullish on USD due to a good job report and Biden Stimulus. As we are expecting the CPI report, the bull might start the move earlier. Happy Trading!

TheWallPipsJournal

Hi, Yesterday we saw above average results for the US on the job and manufacturing report. There was also a positive report on the effectiveness of Covid-19 vaccine. These reports might spark the optimism towards the economy of the US. Back to the chart, if we are looking on the 4H chart, the channel has been broken. Interestingly, there was a double top...

TheWallPipsJournal

Hi, There is actually a 4H Channel which we can draw a channel line. You can see the clear channel on the big time frame. However, To look for a movement, I am going to a smaller timeframe where we can see clear support and resistance. The breach will decide on the further trading action. As we received the result of the above average earnings result earlier of...