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Munyaelliott

BIDVEST GROUP LIMITED (BVT) 4-HOUR TIMEFRAMEPrice is currently stuck in a small range with support at 18 300 and resistance at 21 920. This will be a risky trade (not that there is no trade without risk) because we will be going against the trend. However, the risk reward of 4.33 gives me the confidence to still take on this position. My entry will be at 21 550. Break a chart!
JSE:BVTShort
by munyaelliott
OLD MUTUAL LIMITED (OMU) DAILY TIMEFRAME SHORTPrice is moving in a range on the daily timeframe, with the support level at 2 120 and a resistance level at 2 370. Though it is possible that price may move further up to close the massive gap on this stock, it is my belief that prices are going to continue further down due to a cluster of orders that are sitting at or above the resistance level. The daily timeframe already shows two bearish candles that have formed indicating the presence (but not the dominance) of sellers. One of the two is actually engulfing previous bullish candles. Here is my entry for this trade: Entry: 2 300 Stop Loss: 2 400 Take-profit: 2 120 Risk-Reward: 1:1,80
JSE:OMUShort
by munyaelliott
1122
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Select market data provided by ICE Data services. Select reference data provided by FactSet. Copyright © 2025 FactSet Research Systems Inc.© 2025 TradingView, Inc.

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