munyaelliott

munyaelliott

AUD/CAD is forming a descending channel and it is better to take only short positions in this market.

munyaelliott Updated 

Another bearish flag pattern forming on the USD/JPY pair. Sell stop @ 108.870 Stop loss: 109.168 Take profit: 107.109 Risk-reward ratio - 1:6.83!!!!

munyaelliott

Palladium prices seem to be forming an ascending wedge on the lower timeframes. Prices can continue forming these higher highs and higher lows, however, a break to the downside can also be expected. I would rather wait for a breakout before opening any positions. Not very interesting i would say.

munyaelliott Updated 

The Nasdaq indice is in a large sell-off as shown by the huge tank on the monthly timeframe. The monthly candle itself is ridiculously humongous and i wouldn't advise anyone to be taking any buy positions on this index. However, on the 4-Hour timeframe, the price seems to be moving in a downtrend too, with small corrections to the upside. The RSI indicator is...

munyaelliott Updated 

This pair seems to be forming a bearish flag pattern. Expect prices to go down. I personally have used a sell stop order since i need to focus on other things. By the way, compliments of the new year. Hope you all had happy holidays.

munyaelliott

The ethereum price seems to be following it's big brother's sell momentum. It is thus right not to try to catch this falling knifwe as well. The 1-hour chart shows price nearing the upper resistance of the descending triangle, and it makes us more confident that sells are the only way to go. As always, play it carefully with these cryptocurrencies as this market...

munyaelliott

After breaking out of a descending triangle to the downside, around 14 November, it is reasonable to suspect that history will once again repeat itself. This cryptocurrency's price is forming something between a descending wedge and a descending triangle. With that being said, it is less rational to expect a break of prices to the upside, since there has been a...

munyaelliott

The USD/JPY currency pair price is creating a symmetrical triangle pattern on the daily timeframe going down even to the lower timeframe. The price has already exploded down after bouncing off the descending trendline forming the triangle, however, it seems as if some buyers are trying too hard to maintain higher prices. There is also an ascending wedge /channel...

munyaelliott

The EUR/CAD currency pair is currently moving in an ascending channel. The price is nearing the upper channel resistance and we can expect sellers to come in and drive the price further down towards the channel support trendline. Be yea careful as there is too much noise caused by the Brexit issue along with Theresa May's cunning tactics. I would expect to enter...

munyaelliott

A quick scalp idea: Price is currently moving in an rising wedge, and we will be looking to place short trades when the RSI indicator becomes relatively overbought. The price had already broken out of a ascending trendline from the monthly timeframe, therefore, short positions are highly feasible on this index.

munyaelliott

Price on the EURO STOXX index broke out of the ascending channel on the weekly timeframe, and now it is coming back to retest the support-turned-resistance. We will only be taking shorts on this index, and we will only do so when the RSI is fully overbought on the higher timeframes. Until then, we keep on waiting.

munyaelliott

Gas Oil futures price is currently testing the 61.8% retracement of the previous uptrend and this also happens to be a zone almost in confluence with the support zone. The price also seems to be forming a symmetrical triangle on the upper timeframes, therefore we should watch how the price tests those support and resistance zones, as those areas can provide good...

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The USOIL chart seems to be stuck in a nasty range in the daily timeframe, and price has been bouncing off support and resistance levels. I am expecting the price to reach a level somewhere close to $53.95 a barrel, and i will place a sell trade around this area. The build up of prices is also reflected in the RSI which shows some overbought conditions. However,...

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Gold prices just recently bounced off the ascending channel resistance and i am expecting prices to continue dropping towards the 50% retracement level of 1223.62. Possibly, prices may continue going further down until they test the lower ascending channel resistance. Though i have already entered a short position a bit late, it is better to check price action to...

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Platinum futures are moving in a clear downtrend as suggested by the weekly chart. On the 4-hour chart, prices seem to be moving in a downtrend and forming a falling wedge pattern. We can speculate a brief break to the upside, followed by a continued downward movement. However, my bias is short as most markets are hit hard by the power of the bear.

munyaelliott

Palladium futures are moving in an ascending channel, making higher highs and higher lows. It should be safer to only place buys, as sells may be short lived. However, feel free to play the tennis game inside this channel. This should be an easy one. Do remember that metals are quite expensive to trade so go easy on the lot size if you have a small account so...

munyaelliott Updated 

The FTSE100 index is approaching a critical 2.6 retracement level of the previous uptrend, and it could be good time to buy. However, with the Brexit news and Theresa May woes, just hold your horses for a bit. The index is still largely in a sell-off fueled by the lack of confidence surrounding the Brexit deal and seemingly the vote to be held tomorrow. The...

munyaelliott

This pair is at the crossroads, so we wait for either a break to the downside signaling a sell, or a bounce on the descending channel support to the upside signaling a buy. Either way, it's gonna fell like thanksgiving again!