munyaelliott

munyaelliott

Prices dropped sharply before forming an ascending wedge, which topped out at the 76 price level. Now, price has already broken out of this corrective structure to the downside and is making a continuation move, with two opportunities to scale in already gone. But you can still jump in with proper risk management and target the bottom of the corrective structure,...

munyaelliott

Prices have been tumbling down recently, having broken out of a corrective structure in the form of a bear flag pattern. This pattern was a good way for prices to blow off some steam, after the massive sell-off. Now we expect the prices to go towards the bottom of the corrective structure (bear flag pattern). This is a classic setup and there is no need to say...

munyaelliott

Price formed another corrective structure in the form of a bear flag pattern after sellers struggled to hold ground. Now it has just broken to the downside and we are expecting further down movement. Things are a bit slow this week especially after the bank holidays yesterday. Risk management should be on point always. The technicals of this trade are; Stop Loss:...

munyaelliott

The stock price is moving in a series of impulses and corrections , as it nears the ascending trendline. Possible targets are around the 271 330, which represents the bottom of the bear flag pattern. The price has already broken through the bear flag pattern and is moving closer to the target area.

munyaelliott

This stock has just broken out of a descending channel (bullish flag pattern), and is rallying towards the weekly descending trendline. Therefore, we should see much upside towards the 58 000-60 000 are. The technicals of this trade are as follows: STOP LOSS: 52 000 TARGET: 60 000

munyaelliott

Gold continues in it's downtrend, as it currently completes a corrective structure towards the 1290 resistance level. I will be looking to short gold around the 1290 area if price action suggests so. Therefore, be on the lookout for bearish engulfing candles or any type of heavy selling close to the dynamic resistance (trendline). A possible target is the 1270...

munyaelliott

If price should move below the 1.9350, i will be entering a short position again. Well this trade was obviously epic, as i entered it on a Thursday, on the daily timeframe, and Friday i spent half the morning in a gruesome Financial Reporting exam. Let it be known that i normally enter my trades using the 4-hour and the hourly timeframes. This was almost a first,...

munyaelliott

GBP/CAD recently broke out of the daily corrective structure that started out in early September 2018. This was in the form of an 800 pip move. We are expecting this drop to continue, as price is currently making a smaller corrective structure, and therefore we can expect a continuation to the downside after this bear flag is complete. It will also be interesting...

munyaelliott

NZD/CHF currency pair is moving in a gradual downtrend, making lower highs and lower lows. We can expect price to make a corrective structure and creep higher towards the 0.6700 area, before reversing and continuing with the current trend. We will wait for price to blow of some steam and slow down before we consider any shorting opportunities. Prices can also move...

munyaelliott

Prices on the CHF/SGD broke out of a interim downtrend on the daily chart, and we can anticipate further upwards movement. Price could find support on the 1.3650 if it forms a correctional structure in the form of a bear flag pattern, and then continue higher. Proper risk management is key especially when trading exotic currencies since there are huge margin...

munyaelliott

CHF/JPY is currently recuperating after the big sell we took. It seems history might repeat itself. Price is making a bear flag pattern on the 4-hour timeframe. If price does indeed break to the downside, i will be taking a short trade targeting the bottom of the flag pattern. Entries will be posted once the trade is ready. For now, we wait. Patience is the...

munyaelliott

Prices formed an impulse to the downside and then moved up after a serious stop hunt, or rather rejection caused by the buyers, who came in and pushed prices higher. This was evidenced by the correctional structure (rising wedge pattern). Price is currently moving downwards after it retested the support turned resistance of the rising wedge pattern. On the 4-hour...

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I am expecting a bullish momentum as we complete a correction pattern, before further downside. Targets should be at the top of the flag pattern and position size small, as we are in a downtrend.

munyaelliott Updated 

Copper prices have just broken out of a support level of 2.8495, with the former resistance at 2.9750. The market has completed the advancing and distribution stages, and has just started the decline stage. I expect prices to tank further, as commodities are in large sell-offs these past weeks. The price is also forming a new downtrend, as it makes lower highs and...

munyaelliott

GBP/NZD has just broken out of the corrective structure to the downside, therefore we expect a further continuation to the downside over the next hours/days. Price formed a bearish flag pattern after a big impulsive move to the downside. The technicals of this trade are as follows: Take Profit 1: 1.87247 Take Profit 2: 1.82568 "The definition of insanity is...

munyaelliott

This trade might/might not have been forecasted on this channel. Price is currently breaking out of a bear flag pattern and creeping to the downside. My take profit is placed at 0.74640, which is the bottom of the flag pattern. Patience is required as usual, as the market is heavily oversold and buyers might "taunt" us. May the bears be with us!!!

munyaelliott

Silver is set to follow it's long lost posh cousin, gold, on the sell-off. This is quite a risky trade considering the large pullbacks in the silver market. Plus there is the notion of entering a short when the market is already oversold. But we don't care about indicators, do we? Surely i entered a short trade on the last gold trade when the stochastic...

munyaelliott Updated 

The price for gold is moving in a downtrend, making lower highs and lower lows. Price just made a bear flag pattern, and broke out of it. We should probably see a continuation to the downside since the correction has seemingly ended. If this setup is validated, prices should rock-bottom to the 1270 area. Remember, always take your profits earlier when they come.