MrRenev

Bi-Weekly broad market TA. 02 May 2019.

MrRenev Updated   
TVC:USOIL   CFDs on WTI Crude Oil
- Indices -

The SnP got to ath & dropped the same day. I think the fake fomo shilling conspiracy is working less and less.
Why are these people trying so hard to convince people to buy? Literal pyramid scheme.

Just waiting for it to drop further, maybe.
Other indices are following, DAX & CAC40 are still way more bullish so not dropping much.

- Majors -

EURUSD & USDJPY still in a lame choppy random channel, not interesting.

GBPUSD did top! I don't know why but with all my strategies I kind of only or almost only go for C waves. Going to try and learn how to enter on the end of B.
It might be bottoming, and there could be a day trade long. If the target is around 0.25% with fees of 0.01% it's mediocre. So fees are 4% of target.
A little expensive, fees erase alot of the edge we could have. So I don't know. If there is a nice bottom and entry.

AUDUSD following the path I drew for it, how nice. Will take a few more days to get to 0.618 where it might be interesting to buy.

USDCAD nothing special. I think it will be weeks before I get a trade on this.

USDCHF might have missed out. Too bad. Still watching, maybe it will drop after all and ez long. Pretty bullish. So bullish I can't enter or what?

- Commodities -

Gold:

Oil US, going down the way, makes me consider trading B waves now that my understanding of C is solid. I added a third strategy to my arsenal only a few weeks ago, but I think I am at a point I know enough I can just design new strategies quickly. By riding B waves I really won't be drifting too far away from what I usually do...
Been trading C waves for a year... and watching B before entering / during my TA every time. Can't be that hard right?
60$ sounds right. Maybe gets overcut.

Copper is moving!

Soybean futures still in a downtrend. Avoided riding it because the fees are too damn high. Will buy that low, I do not think it will just crash without giving up a fight.

- Crypto -

Bitcoin: The justice thing is doing progress, they found counterfeit money in one of the person that ran a shadow bank for Tether appartment, and they are calling it fraud so this is very clear. Bitcoin bulls amount of denial and delusion is simply off the charts. I think they are obssessed with it and started going crazy, they do not seem to be in touch with reality.

Alts if the price drops a bit I would perhaps buy. That resistance did hold so... If it just goes up well so be it, no fill.

- Minors -

EURAUD I am starting to look at, simply check what happens next. Real or false uptrend? I always let others get burned before me.

EURCHF maybe a trade in a looong time.

GBPAUD has kept going up, but will still buy if it goes down to that support area, as long as the rules do not change entirely.

AUDJPY I have a feeling will just dump. Following it out of curiosity.

USDSEK well it's back at ath. It could rally super strongly. Looks like some bulls were eager to buy, but are there buyers waiting for a break confirmation?

USDCNH is going back up. Dang I want to buy that bottom but I need a lower price to enter or my RR is too bad.
Now since it looks like it is following USDTRY with a delay, who knows maybe we will get this:

EURSEK I am also looking at, probably more relevant than USDSEK. The Swedish Krona is going for a train wreck ride. Who would have thought with their commie government. "The rape capital of europe".
Comment:
Oil is spiking up. Maybe I missed the train. Will buy if it retraces nice and low where I get a good RR.

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