Mhangwane1

Mhangwane1

USDJPY After the break and retest, it broke downwards but quickly reversed and shot up again. Now we seeing a flag forming again. Before fully committing to the buy, wait for the break up and retest before fully committing.

Mhangwane1

Anticipating that price will touch the white dot. Should it not then we look for reversal confluences and we join the train. WATCH & WAIT

Mhangwane1

After waiting and watching, Now we can look for what the market is saying. Looking like the completion of the bullish flag, we wait for a break and retest of the flag before entering any buys. Otherwise we look for a close below the previous low in order to believe the reversal is happening. Upon which we'll also wait for a retest before entering.

Mhangwane1

Now we wait for continuation of the sell or a reversal to the upside. Sell Forecast - Impulse candles down, retest, small channel/flag, continuation (impulse candles) Reversal Forecast - Break and close above the green dot, retest the green dot, impulse candles upwards

Mhangwane1

After it played around our crucial area it shot straight down and hit TP. Look at the confluences first 1. Third touch of channel 2. Morning Star on our 3rd touch (even stronger) 3. Mini correction before going down. After learning our lesson from yesterday, we quickly apply what we learned and did better.

Mhangwane1

Saw a break a retest twice of the bigger channel. Therefore we wait for the retest on the blue square then we enter to go all the way down.

Mhangwane1

We forecasted this with US30 but rather than quickly correct US30, we just left it. There was a 3rd touch possibility (hence) the white circle where price slowed down. With this one it helped us get to break even with the UJ, GJ & US30 losses. We can take profit as it hovers just above our TP.

Mhangwane1

We were triggered in and SL was hit. We had anticipated a break of the triangle first and then retest before we wanted to enter but being too early allowed it to tag us in. WAIT & WATCH, very important 2 words.

Mhangwane1

We were taken out before it spiked close to our TP. Risk to reward was not part of our trading plan so we learned a lesson. Having understood the lesson, we need to adjust our plan as to how we go following UJ. FOLLOW YOUR TRADING PLAN ALWAYS!!!!!

Mhangwane1

Like we said WATCH & WAIT. It did exactly what we needed, which was breakout, retest and go into its demand zone. With how it went. We wait for another retest and look for entries on the 15min.

Mhangwane1

We have a bearish channel, a flag usually for continuation but we still need a 3rd confluence in order to fully commit. For now our 2 confluences are a risk to use to believe that it'll go down. Just a prediction but not a commitment. WAIT & WATCH

Mhangwane1

We see a flag forming. The final touches to confirm our bullish flag, we anticipate a move to the upside but the flag is acting as a correction. With where we know Bullish Flags to form this could be the reversal to go up. WE WAIT & WATCH before fully acting on what the market is telling us.

Mhangwane1

It's a risky idea with what is happening in the world but it is a possibility. So we focus on the structure we see. I would advise to first wait for strong break downwards then the retest before entry. The retest will confirm if it is really breaking down or just faking out. Fundamentals play a big role, so monitor where your stop loss is and that it follows your...

Mhangwane1

It's a probability, the other obviously is to the upside. Best thing to do is to wait for which direction the impulse candle breaks out to. Without much confirmation, we wait and watch. Don't set any buy stops or sell stops unless the breakout candle and retest takes place. This is a risky trade

Mhangwane1

The past week we have waited for GJ to go to the blue box for a touch to confirm the upside movement. The way it rejected just before, shows there's still momentum to the downside which is coming. This is a very short sell so it could be one candle. We'll just watch and wait on it and see how it proceeds. It can still move further up before falling, but a rising...

Mhangwane1

I nicknamed her N1 because of the the road we have in South Africa named N1. It's a short, due to the larger wedge on the H4, the double top on H1 and the impulsive candles to the downside. For now it's just an idea but we will see just how the market plays out.

Mhangwane1

We see an ascending channel which has happened. Then followed by the break impulsively of the ascending channel. Now we wait for the retest to finish and then we ride the wave all the way down to the beginning of the ascending channel. Keep Watch. Stay Calm. Pray. Execute

Mhangwane1

Formation of the BAT (a type of structure formation I have discovered while studying the market). It should push up violently, after all it is UZ, which also has very strong pullbacks. The stop losses should always cater for the possibility of a large pullback to the entry point.