munyaelliott

munyaelliott

The dollar index (DXY) is currently testing the bottom ascending support level of a channel that it has been forming of late. This movement is similar to my analysis on the USD/CAD, and i am pretty sure my analysis is not impartial, but biased because of my long position that i already opened on Friday midnight before the market closed, on the USD/CAD currency...

munyaelliott

the USD/ZAR currency pair is currently going up in adescending channel and could possibly bounce off the channel's resistance and go into a sell-off. The RSI indicator is relatively overbought, so that could be a good indication of prices going south. Personally i am going to wait for at least a cadle close below the descending channel resistance before i consider...

munyaelliott

So, here we go again with the brent crude oil forecast: Scenario 1: Oil prices could reach highs of up to $83 a barrel, which represents a resistance level formed by the descending upper trendline. Scenario 2: Oil prices could fall even lower to about $30 a barrel, which represents a 100% retracement of the previous wave. That level is also in the support zone...

munyaelliott

USD/CAD 1 hour chart looks like a sell. Price just bounced off the upper ascending channel resistance. Use low risk as 4 hour timeframe is still showing a buy

munyaelliott

CHF/JPY chart is currently going up after bouncing off the ascending trendline. Also the stochastic oscillator is currently oversold on the 4 hour time-frame, signaling a long. A good buy period

munyaelliott

I am going to wait for the price to break out of the correctional channel in the lower time-frames; and if it breaks to the downside, we we will taking a short position.

munyaelliott

We can expect to scearios to occur. Scenario 1: The price can either go to the top of the uptrending big channel; and reject the resistance, bouncing back to the downside, or to breakthrough and continue with the bullish momentum. Scenario 2: Price could either move downwards and break the resistance on the small channel, and continue going down, or reject the...

munyaelliott

Coupled with the tech sell-off that occured today, this is going to be a nice trade in the direction of the market. I expect the price to tank close to the 2593.05 level, due to the head and shoulders pattern that is visible on the Hourly timeframe. The price seems to have broken the ascending trendline a bit, so it is good to wait for more confirmation before...

munyaelliott

The gold chart is bouncing in a channel and we see it forming something between a rising wedge (or rectangle pattern). The price is also in the middle of the 61.8- and 78.6% retracement levels respectively, giving us somewhat a short bias. It is crucial to let the price break out of the rising wedge first so that we can see its direction. If however the price...

munyaelliott

This pair is currently in a channel formation, and we are expecting a sell as soon as the upper channel trendline become broken. However, overall trend is upwards trending

munyaelliott

Wait for a rejection of the support zone before entering a long position

munyaelliott

Buy on rejection of the weekly slow ascending trendline.

munyaelliott

I expect brent crude oil prices to bounce at the 70.667 level after a heated sell. The sell was because of a continuation of the rejection of the monthly time frame descending trendline. I had predicted this sell trade more than a month ago, after i saw those massive peaks on the monthly chart, but i guess i forgot all about it. The 70.667 level also happens to be...

munyaelliott

I am expecting the price to bounce around the 92.11 level due to the 61.8% fib retracement of the impulse wave also at that level. It will be interesting to see how the market plays out when it opens. This trade is against the trend so you might wanna go easy on the lot size The RSI and Stochastic oscillators are all oversold. Should be a good trade if you find...

munyaelliott

This is not really a trade signal, but a reflection on how i failed to capitalise on this trade because of lack of time. There is always plenty of time to tango with the Dow, so no worries there. Look at those arrows (red) i had drawn prior to market movement. And the price neatly reacted to my resistance lines. Like i said, you don't have to believe me, but i am...

munyaelliott

We could see a potential sell trade close to the resistance, which has been tested in the past from both sides. After that, price may continue in it's rally by bouncing of the ascending trendline, and going further up as shown. The price has already broken descending channel and therefore we just wait for a retest and then buy the market

munyaelliott

The pair has broken out of the descending channel on the H4, so i think it's a good time to sell. Do your own analysis.

munyaelliott

Sell