munyaelliott

munyaelliott

EUR/NZD currency pair might just form a double top pattern, if the right conditions are met. Price is showing little signs of exhaustion,but it is too early to count any birds from the eggs. Key levels are as below: Resistance: 1.70713 Support: 1.63540 If price drops, we might catch some major pips though.

munyaelliott

Price is currently forming what looks like a bull flag pattern. If prices can break higher above $100, that should be a good indication of possible bullish momentum. Hwever, traders should exercise extreme caution and proper risk management as the last bull leg stopped abruptly, signalling the presence of sellers at every corner of this market!. Here is how i...

munyaelliott

The price is currently moving in a classic uptrend, forming a series of higher highs and higher lows. The trendline is acting as a dynamic support and resistance, reeminiscent of most indices. All timeframes from the daily to the hourly clearly show a defined uptrend. You know what they say in Latin, "Villi eme vende care". If you did not understand me, don't...

munyaelliott

This stock is moving in a downtrend, and the weekly timeframe shows a possible right shoulder forming. A break of the neckline on this weekly timeframe will signal further bearish momentum. On the 1-hour timeframe, price are trickling down as the momentary uptrend has finished and prices are below that ascending trendline, forming a series of lower highs and lower...

munyaelliott

Never has there been so many multiple confluences on a single chart as this one. Firstly, price formed a head and shoulders pattern on the weekly chart, and tumbled down after the completion of the right shoulder and breach of the price below the the neckline. Secondly, prices have managed to stay under the neckline, which was a key psychological level at 14 000....

munyaelliott

This stock recently broke out of a descending trendline,and is currently retesting either the trendline itself or a support zone. I am of the opinion that t his stock will resume going up once enough buyers enter the market. Traders can possibly look to enter a long position at the 9 615 level, which rep [resents a support level.

munyaelliott

It is shocking to see a stock soaring in an economy plagued with state capture scandals, corruption, uncertainty and all things junk. Notwithstanding the fact that i love South Africa, it is sadly true that most stocks on the JSE stock exchange are in bear market territory. Hence the shock i had when i opened this chart. I expect prices to move up as they...

munyaelliott

Well today i have some bad and good news. Which one would you want to hear first? I guess let's start with thee crappy news! I somehow missed a 500+pip bearish move on oil. Like who does that? Anyway, it is not totally a bad thing. Because the good news is that it has created some nice structure in the market on which we can base future trades. My bias on oil...

munyaelliott

Prices are moving in a downtrend after having broken out to the dowside of a descending triangle. After a momentary correction, prices could possibley continue further down, with a final target of around 15 600. However, nothing is guaranteed, so always take your profits earlier if they come.

munyaelliott

So the price is making the classic impulse and correction moves again! And the market will obviously try to fake us out by driving the price up closer to the descending trendline, before going in our original intended direction (short). So what i did this time is to give the market enough room to breathe, in the form of a stop loss at 109.074 (above the highs) and...

munyaelliott

BHP Billiton's share could find support at the 31 150 price level, which is an area of interest from the weekly timeframe. Since this analysis is based on a higher timeframe, it could take several days before this can happen. The weekly timeframe shows a healthy trend, with symmetrical, deep pullbacks. We are currently on one of these pull backs, and am hoping...

munyaelliott

If you are reading this, then you might be late. Prices have bounced off the 0.01750 support level, which is in confluence with an ascending trendline. Further upside is expected. A bullish US dollar is a common topic in the market these days, especially with the US dollar index trickling higher. I am not a Trump supporter, but you gotta pay respect to where your...

munyaelliott

As i mentioned in my previous post, this pair is correlated to the GBP/USD pair. Prices are also moving in a downtrend, after having breached an ascending trendline. . The price also broke out of a symmetrical triangle to the downside and completed a retest. Price is making a series of lower highs and lower lows. May the bears take over the world!!!

munyaelliott

This pair has broken out of the symmetrical triangle to the downside, and has completed a retest. The price is moving below the upward trendline, and making a series of lower highs and lower lows. This pair is correlated to the GBP/CAD and is moving in a similar fashion I have already entered this trade and so should you.

munyaelliott

The price for the EUR/CHF currency pair is currently moving in a shallow dowtrend, making a series of impulses and corrections. If history repeats itself, we shall enter a short position around the 1.14000 area and target the 1.13600 area, being close enough to the beginning of the correction move (bear flag). At the 14400, this trade will be invalidated. The bear...

munyaelliott Updated 

The EUR/USD currency pair is moving in a descending channel on the 4-hour timeframe, and prices have just broken out of a counter trend (ascending channel) on the 1-hour timeframe. I expect further downside of the pair after a small consolidation (breather/correction/pause) in the form of a bear flag pattern. However note that prices might skip this stage if bears...

munyaelliott

Natural gas price seems to be moving in an uptrend. However, there appears to be a wedge-like formation in play, suggesting a possible small correction. If prices do reject the ceiling of this shape and go lower, i would consider going short. Due to the high risk nature of this type of trade, i would only consider opening a small position.

munyaelliott

The price for ARI is moving in an ascending channel on the weekly and daily timeframe. The share price is now at the top of the ascending channel, which represents a critical resistance level. If prices find support at the 17 000 psychological level or the inner trendline, then we can expect prices to continue further with the bullish move. However, if prices...