Hi friends, hit that like/follow to motivate me.
My confirmations: Successful triangle break, Fibonacci levels, support and resistance, pivot standards, and confluence zones.
With fundamentals driving crypto this week definitely pushed Ethereum to these highs.
But for how much longer? Lets watch and be ready for either scenario with confirmations.
Check my...
After Weekly close above $ 11600 now bitcoin caused a change of behavior on the weekly scale.
Weekly & Monthly Charts suggests a test of $ 14000 but in the ShortTerm, there will be some corrections and pullbacks.
For the ShortTerm, we can get $ 11800 as a pivot.
For the MidTerm, we can get $ 11500 as a pivot.
For the LongTerm, we can get $ 10800 as a pivot.
...
For the last 6 weeks or so, there's only been one thing to trade - The Market, as everything moved up and down together, gapping violently based on news.
These daily charts show how the stock market (SPX/S&P 500) has correlated with the historical safe haven asset of gold (XAUUSD) and the promised new safe haven of Bitcoin (BTCUSDT). The red indicator at the...
Expected to retest it again, and then will see where it will go from there.
If it finds support, expect BTC to continue higher to 38.2% level.
If it fails to find support above the 61.8% Fib level, there's a high possibility of it falling all the way down to 3800 again.
See also XBT/SPX ratio analysis:
More current XBT/SPX update:
Correlation Coefficient is a statistic measurement of correlation between two sets of data (of potentially any financial instruments) and shows the degree of relationship between them. It may help us to have a better understanding of market behavior. A few days ago, I came up with the idea of studying the correlation between Bitcoin (BTC) price in US Dollar (...
Several correlations that I track are at rather concerning levels. All of these markets moving together could result in a negative feedback loop.
The DJI 20-day correlation coefficients included are: DJ China, DJ Europe, DJ Japan, junk bonds, US WTI oil, DJ US real estate, and gold. Included for experimental observations are: VIX and SPX put/call ratio.
I was testing yen strength as the EURJPY and GBPJPY are doing nice with there fall USDSEK could better relly upward too. I am saying this cause USDSEK currently has like -0.80 correlation to the EURJPY and GBPJPY. Seeing a weak pound USD is also pulling down the GBPUSD and talking about this pair it is highly positively correlated to EURJPY and GBPJPY so, if it...
The chart above highlights the change in correlation between the STOXX50 and the S&P500 over the last decade. Interestingly there have been considerable falls in the correlation coefficient in 2012 and 2018. Are we in a new era where global markets are detached? Trading Forex / CFDs is High Risk.
Birds Eye View (Correlation from Bigger and smaller Wave).
Tracing the Elliott Wave Counting from the time of downtrend.
How many of you will agree on this?
Seems like the ABC is coming to town after this big drop.
Is it time to get Bullish again o_O ?!!!
You Decide!
As for me, I'll definitely ride this trend.
Another example where you can trade simultaneously two negatively correlated pairs. You can see that correlation coefficient is close to -1, so you should split your exposure between those trades. Otherwise, your are doubling your risk! Buy the break of local trendline.
1) Never risk more than 2% of your account.
2) Try to be emotionless by applying your strategy...
As you can see, the correlation co-efficiency factor in relation to EURCAD set-up is almost -1. Current conditions show opposite behavior, which could be used as confirmation for the other analysis or an extra set-up. In the second scenario, it's better to split the initial risk percentage, since the positions provide zero diversification.
