morrisgitau

morrisgitau

On the weekly timeframe we have a change of character (CHOCH). Presently we are completing a bullish correction before resumption of the main bearish trend targeting the downside. On the daily time frame, we have a sell limit placed at the 4526 levels and take profit at 3993 price handle.

morrisgitau Updated 

We have been monitoring this pair for a while now. We have a CHOCH and BOS on the 4 hour that led to the bearish slide to the demand zone below. Currently we are witnessing a bullish correction targeting our sell orders at 0.8901, our intended profit target is 0.86 region where we have unmitigated demand zone.

morrisgitau

For the better part of the year, the South Africa Rand has weakened against major currencies. Q2 we saw a reversal. Presently we have completed a bullish correction that grabbed the trend line liquidity. We have or sell limit orders placed either at the liquidity level of 20.67125 or unmitigated supply at 20.71422. Our projected exit is the liquidity sitting below...

morrisgitau Updated 

The long-term market outlook is bearish for NZDUSD. On the 4-hour chart, we have a bullish correction targeting the unmitigated supply sitting at 0.62 price handle. Our approach to this pair is to wait for a break to the downside then short it targeting the fair value gap at 0.59374 price handle.

morrisgitau

Investors reaction to disappointing data from China's economy is reflected in the bearish momentum we are presently witnessing. We have a break of a previous flip zone which informs our bearish outlook of this index. We have two possible entry points; 15234 and 15466. I favour the former entry targeting to exit at 14626 or 14329 if I am patient.

18:48

morrisgitau

A tutorial video of basic top down analysis. Our focus is XAUUSD

morrisgitau

After a bearish slide, we are in witnessing a bullish correction. Buy limit placed at the unmitigated demand. The long term trend is still bearish.

morrisgitau

After a strong unemployment data, the dollar index is resurging. Cross USD pairs are broadly bearish awaiting key NFP data this week. Presently we have a flip zone identified by the fresh order block (in green). I have placed a buy limit at that region targeting the 102 region. Point to note, the same set up is also valid for USDCAD.

morrisgitau Updated 

On the Daily timeframe, we are witnessing a flip of a previous strong demand zone. We have two scenarios and possible option on how to trade them; a) After the break of structure, we anticipate a correction targeting a previous supply. At this level we can sell targeting the order block in green or the fair value gap. b) After the break, we can witness a bearish...

morrisgitau

The Bank of Japan issued an unexpected monetary policy update that propped the Yen against major currencies. After a change of character (CHoCH), we are presently awaiting a minor bullish correction targeting either unmitigated zone. Our targeted exit is the flip zone/demand zone at 170 price handle.

morrisgitau

After strong data from the US on unemployment, the dollar rallied causing XAUUSD to slide. Presently, we have broken a key zone and formed a new low after a change of character. We are anticipating a minor bullish correction targeting the unmitigated zone. Our targeted exit is the 1902 liquidity.

morrisgitau

After a weaker CPI reports, the dollar turned bearish across major pairs. Presently the USDJPY has settled at a previous flip zone. The coming week we have two scenarios; a push upwards from the current demand, or a bearish continuation targeting the lower demand/flip zone then resuming the bullish move upwards (146).

morrisgitau

The proposed oil supply cuts propped the Canadian Dollar. Presently, across major currencies we are witnessing a bullish correction before a bearish continuation. For the AUDCAD, we have a CHOCH & BOS suggesting a shift in order flow targeting the unmitigated regions and fair value gaps above. Once the pair indicates the bullish correction is coming to an end,...

morrisgitau

FX:GBPCHF On the 4 hour time frame, we are awaiting a break of structure. Previously we registered a Change of character indication a shift in order flow to bearish. Once we have a break of structure, the shift will be confirmed. Once this happens we will look to sell at a fair value gap, fresh order block or unmitigated supply targeting the fresh order bloc...

morrisgitau

After forming a new high by close of June 2023, GBPUSD closed lower breaking the flip zone and forming a new low. Presently, we have a very strong bullish correction targeting unmitigated supply at 1.275 price handle. If the pair breaks lower forming anew low, we will be looking to short this pair targeting the liquidity at 1.23 price handle.

morrisgitau

Similarly, to NZDUSD, the long-term market outlook is bearish. On the 4-hour chart, we have a bullish correction targeting the fair value gaps at 0.67348 and 0.68255 respectively. We favour an entry at 0.67348 since it is sitting where within a flip zone. However, we are alive to the fact that the pair can push higher targeting the fair value gap at 0.68255 price...

morrisgitau

Similarly, to NZDUSD, the long-term market outlook is bearish. On the 4-hour chart, we have a bullish correction targeting unmitigated supply and fresh order blocks at 0.81250, 0.81570 and 0.82040 respectively. We are already in the trade and will not add any more positions. However, we anticipate either the 0.82040 or 0.81250 price handles could be activated.

04:03

morrisgitau

Presently, on the 4 hour timeframe, we have A change of character and break of structure targeting the downside 20,000 price handle. On the daily and weekly time frame, we have a flip zone identified and a fair value gap that informs our bearish outlook for the short term to medium term.