MrRenev

MrRenev

Can you feel the gold rush? Few know this but in the past 3 years gold was in an inside bar and it broke out very convincingly. Gold has been in my eyes the best risk to reward asset so far this year if you exclude cocoa that is just ridiculous. I was quite upset because since it went up in a straight line I was not able to add to my position (Although I could...

MrRenev Updated 

I have not posted a long idea on gold for over 2 years. Gold was going sideways but now the long awaited bull run seems like it is there. Unlike Bitcoin and the S&P500, here I actually know what to do and I am confident we will go higher. Reasons for going higher 1- The gigantic full green candle at all time high on the weekly chart. 2- Market psychology: we...

MrRenev Updated 

This commodity has been trending since 2020, and recently made a new high just after a moderate pullback. It is going up in a straight line, currently hovering around resistance/support, the MA100 started pointing up and the price made a bullish pattern. The target for such a pattern is approximately the size of the pole which brings us to about 210. With...

MrRenev Updated 

Hello, 2023 has been one boring year. I have not posted in a while. Trading is boring but 2023 to me was up there in the pantheon of useless years. And 2022 was the year of disappointment, of trends that start and then go "nevermind". It has gotten better, the S&P500 is in a bull trend at all time high, Bitcoin is going up in a straight line, it's not at ATH...

MrRenev

Title: Guess where Bitcoin is going - nah later fpr npw 100k opr 0 I'd guess, my best guess Grayscale’s GBTC just had his biggest negative outflow day, this may be the sign that whales are getting out (exit scamming). In January Blackrock launched its iShares Bitcoin Trust ETF (IBIT), and if I understand this correctly now investors have an easy way to short...

MrRenev

Hello I think the bankers and governments want to avoid too much inflation as well as avoid too much stock crash, while also avoiding other market crashes, so in my opinion we will have this game for a while where nothing happens, there is some inflation but not too much, and markets in general are rather boring with the S&P500 being in a slow-flat multi year...

MrRenev Updated 

Hello Natural Gas just had a breakout this friday (traders knew something?) and it is in wave (5). Wave 3 and 1 are of similar size, with (3) being slightly bigger than (1). It seems reasonable to bet on (5) being the extended one and going all the way to 161.8% of (3). There is something happening in the world, we are seeing more and more "Rubicon crossed"...

MrRenev Updated 

Hello, This is our time to shine my bear bros! I waited for this moment my whole life! I constantly wait for the moment to make money while others suffer. If you have been in this game for more than 6 months you know that Credit Suisse is a losing story. No one wants to buy this dead bank. And even people "on its side" have targets way below where the price is...

MrRenev

The end is near, which is bad for passive "investors" (I prefer calling them parasites), but great news for traders! I will make this as easy as possible to read by listing bulletpoints. Here are reasons for the big collapse: - US President Joe Biden’s new budget includes a new minimum tax on wealthy individuals’ unrealized capital gains, a quadrupled tax on...

MrRenev

Hello This is not a signal to buy or sell but one to pay attention. Because it's always when no one is looking than it gets going. I honestly do not know if we go up or down. RSI divergence does not mean we go up, there are plenty of examples where the price continues to go down. Market is heavy right now, debt is at WW2 levels, permabears have been right over...

MrRenev

Hey! It has been a really long time since I posted something like this, over a year. Now a lot is happening or about to happen so here we go! This is mostly me bashing the us dollar, brace yourselves. > Gold is angry with 3 white soldiers after testing long term support *********************** Gold bounced on its long term moving averages and a convenient...

MrRenev

Forex market have started getting very volatile (after years of making us fall asleep), following the west heavily increasing their interest rates + the war against Russia. The risk reward could be very good, the price can easily rally strongly. It looks like it could be about to burst. Even 15% odds of that happening are worth it to me. The USDTRY fundamentals...

MrRenev

What a wonderful day. Criminals have started running for the exits, as the long term moving averages are actually starting to bend for the first time in Bitcoin history. The "short term" (several months) moving averages have crossed below the longer term ones too, announcing a really long and painful bear market. And no surprise average Joe's are asking me if...

MrRenev

Western interest rates starting going back up in the end. Looks like the whole "new paradigm" is over. Money is not free anymore. To sum up: - Boomers got 110% of the wealth (other generations are in debt), they are aging and getting more conservative, covid got them even more scared and conservative (risk averse); - Generally investor outlook on the economy...

MrRenev Updated 

I have been interested in USDCAD for a while, if you check my previous ideas of the past 5, 2 are about this pair. *** Technical analysis *** The momentum (finally) got pretty strong. The price is now quite extended, the RSI on the weekly chart is in the process of crossing 70 and it rarely goes further than 80 and the price is far away from its moving...

MrRenev

The US has a plan to beat inflation: by creating more inflation. Official announcement, no joke. The "Inflation Reduction Act" is a brilliant plan to burn hundreds of billions of US Dollars in order to reduce inflation. And... it's working... Wave 1 and 3 are both around the same size at about -25%/-30%, and I believe wave 5 is going to either be of a similar...

MrRenev

Hello There could be a triple bottom on BTC. Do these work? What is the risk to reward? Unfortunately there are not that many examples, nothing very statistically significant: So the previous one becomes: If you lose, you lose really fast. And that's all I have. Not triple B's before that. You could find more examples on lower timeframes. You could...

MrRenev

First, road to 10K. Then road to 0K. Past 20,000 there is no support for a while. Must be stressful. Things are looking really bad. And the eternal, boringly repetitive crowd is accepting this as a bear market. Bottom (temporary) must be close. Maybe price returns back to the mean. It's only down at 5K. And maybe a solid bottom would be a good time to buy,...