CHA$E CAPITAL

  Good morning traders, it's been a slow week in the markets but I hope you're watching out for potential setups and being patient. Here's an update on the GBPUSD setup I shared on the previous post. Price formed candle closes inside the zone followed by a strong H1 bullish engulfing candle to 1.26550 showing the bullish sentiment was right but my entry was early and that's how I got stopped out. Took buy re-entry positions during pre-NY session at 1.26504 with SL at 1.26300. Setup taken is a rally base rally, a continuation setup and my target is at 1.27600. Price failed to form candle closes above demand and instead formed a strong H1 bearish engulfing invalidating my bullish sentiment hence closing out my positions.  Took buy re-entry positions during NY session at 1.26418 with SL at 1.26200. Setup taken is a rally base rally, a continuation setup. Price rallied to 1.26700 during late NY session and formed candle closes above demand. Price retraced to retest demand a...

  Good morning traders, I hope you're all doing well and you've had a splendid trading week. Into the markets today I'm looking at GBPUSD where price broke the key H1 & H4 supply zone at 1.26570 & 1.26100 and formed a higher high on H1 & H4 at 1.27000 confirming a potential shift in market structure to bullish. Price retraced to retest the broken H1 & H4 supply zone as new demand before a continuation of the prevailing bullish trend. Took buy positions during London session at 1.26500 with SL at 1.26300. Setup taken is a rally base rally, a continuation setup and my target is at 1.27700, the major H4 high and supply zone for the major H4 range to be filled.   

  Good morning traders, I hope you're all doing well and are actively participating in the markets. Into the markets today I'm looking at GBPUSD where price broke a key H1 & H4 demand zone at 1.26560 & 1.26100 which was the origin of the previous rally to the major H1 & H4 supply zone at 1.27900 & 1.28450. Price filled the major H4 range from the key H1 & H4 demand zone to the major H1 & H4 supply zone and back to the key H1 & H4 demand zone. Price broke the key H1 & H4 demand zone and formed lower lows at 1.25300 then retraced back to retest the broken demand as new supply before a potential continuation of the drop lower. Price rallied back to the zone at 1.26100 and formed a rejection with candle closes below supply showing a potential bearish reversal. I anticipate a strong drop from this zone for a potential continuation of the prevailing bearish trend and my target is at 1.25000. Price gained more bullish momentum during London session and ...

  Good morning traders, it has been an eventful week in the financial markets with most Central Banks releasing their interest rate policies from the Federal Reserve to the Bank of England and the most recent being the Non-farm Payroll that was released yesterday. The Federal Open Market Committee (FOMC) maintained their interest rates at 5.50%. This caused a bearish reaction on the dollar caused a drop on all pairs USDXXX eg USDCAD, USDCHF, USDJPY and caused a bullish reaction on all pairs XXXUSD eg EURUSD, GBPUSD, NZDUSD. However it's important to note that there has been dollar strength since the start of the year with dollar index (DXY) rallying back to 103.000 levels. The U.S Bureau of Labor Statistics reported that the total nonfarm payroll employment rose by 353,000 in January and the unemployment rate remained at 3.7%. This caused a sharp rally in the dollar index (DXY) with market closing the trading week yesterday at 103.560. This caused a sharp decline in all pairs that ...