iannjugunamakumi

iannjugunamakumi

With regard to the previous Elliot Wave structure, we can see that the market moved in a 12345 impulsive movement followed by an ABC corrective structure. At the end of the corrective structure, we can see the market continued to move in an impulsive wave and currently we are at point 4 of the impulsive wave structure which is at the 0.68500 level a major...

iannjugunamakumi

With regards to the Fib retracement plotted on the chart we can see that the price reacted to the 78.60% level which was also the 0.66000 level which is a psychological level. Am expecting to see a bullish reaction to retest the trendline at the 0.67500 level which is a psychological level too. With the 2 hr time frame the formation of a double bottom was formed...

iannjugunamakumi

As we can see price is on a bearish momentum and we can see with the formation of a HH(Higher high) at point B and formation of various HL(higher lows) after it. Am expecting price to reach the 1243.11 level(point C) and expecting a turning point to point D. We can als confirm this move through the Elliot Wave analysis as we are in the third leg of the wave in a...

iannjugunamakumi

As expected price was able to hit our take profit level of 124.444 and as we can see that on Friday the market closed a doji candle but in favor of the bulls. Am expecting a retracement to the 125.923 or 126.473 levels there after a reversal to occur in favor of the bears.

iannjugunamakumi

As we can see price hit a major resistance point and we can see that there is a formation of a double top pattern and we can see that the bulls want to take control of the market. The harmonic pattern shows a forecast of what will happen. Price is also paying with respect to the trend-line and am taking up a short position till 124.244

iannjugunamakumi

With respect to our downward channel we can see that price broke out of our trend-line but managed to close below the trend-line. This indicates that selling pressure has started and the bears are in control. We can also see that there are 3 touching points of the trend-line channel but we cant be sure if the price will breakout amid the Brexit woes. Will have to...