CABLE has been very interesting lately. Sterling has surprised with decent data but the overall outlook for the sterling fundamentally remains the same, the market is expecting one more rate hike. The strong data however is creating a very RANGY environment for this pair. We saw this when the last bearish move was RETESTED all the way to the 68 fib zone. My bias...
GBP/USD swing has played out almost as expected CABLE touched the 50 fib, dropped, then came back up and tested the next fib zone at 68 Price action rejected nicely at this point followed by very nice bearish momentum CURENTLY, IT APPEARS AS IF GBPUSD IS RETESTING THE TREND INTENSITY AND SHOULD NOT BE RETESTING AS DEEP Target is painted by our FIB...
Targets in chart. Let me know if you have any questions.
Price is at a key zone atm. Markups and notes on the chart but essentially I am waiting for price to signal for a long entry -- potentially at the low of previous month or at the H4 OB / unmitigated demand area within the key zone (blue highlight). The 50% of the H4 OB is in confluence with the 27ext. This area is also a 50's level. Either way, I am looking to see...
LINKUSDT is testing a key level at the $9.1 area, where the market has previously encountered resistance. This level is important because it has acted as a significant point of resistance in the past, and traders will be closely watching the price action to see if the level is broken. If the price of LINKUSDT is able to break through this key level and establish...
Bitcoin reacted at the 886 level as shown in last outlookbut came right back up, ignoring every potential sell zone in its way and is now about to break the area. Some kind of "disbelief" move is very likey to happen at this point with a quick rally to 30k as a very important psichological level and has many fibonacci confluence. Overall market sentiment still...
The clear up trend and the symmetry of the prior swing pattern have been broken. The resistance turned support so well. It’s possible to see another 100% extension as bulls’ target price. However, considering what is shown in the previous point and the descending triangle that the market is forming now, I stay neutral at this moment. Conclusion: 1. Long...
This is going one way only, quick paint study and it’s all laid out, first time hearing about it? that should tell you something :)
Our GOLD BEAR FLAG literally could not have played out any better. USD strength is being bolstered by multiple good data releases but that final rate hike and impending recession is on the horizon, gold eventually will be the best buy BUT Anyone who was not expecting this drop is realistically suffering from "Over-Analysis" as this example of a BEAR FLAG is so...
Hello everyone, let's look at the DOT to USDT chart on a 4-hour timeframe. As you can see, the price is moving in the uptrend channel indicated by the yellow lines. Let's start with the support line and as you can see the first support in the near future is $6.69, if the support is broken then the next support is $6.50, $6.36 and $6.21. Now let's move to the...
The correction in the markets last week may appear steep & violent, especially for some stocks. However, on the bigger scale of things, SPX is still looking like a "normal" correction (within a bull trend) so far. In fact, a few factors could be aligning for a possible bounce in the near term: 1.SPX closed a "dragon-fly" candlestick last Friday, signifying some...
MTF Analysis Monthly TF perspective Pattern: Inverted Head & Shoulders -Right shoulder forming at the Low of previous Month January. Price is also at the previous week's level. -Looking at the next 3 months might be LONG til pattern's completed. Weekly TF perspective - My bias for Weekly Fibonacci retracement level for violent push upward is at 38.2 -- this...
GOLD CUP & HANDLE on the weekly tells the overall story. Gold is getting ready to make a bottom, Before new highs Right now we see a BEAR FLAG that was formed, with a BROKEN NECKLINE. This is a nice continuation and frames our overall trajectory for GOLD very nicely. Cup and Handle on the weekly is showing that a retest of a bottom will happen before a new top...
USDJPY the famous carry trade is about to, carry trade. Trend reversal is basically all but confirmed, in the medium term, with USD being propped up by MASSSSIVEEEEE job data, along with the inverse Head & Shoulders that is being formed. Some bullish momentum should resume in this key support area.
Trend: Up trend. Although the market failed going up to the next channel, it's still in the up trend channel. Better not to do a counter trade. Symmetry: I use 12119 as a centerline for the symmetry. Let's look at a larger picture on the daily chart. 12119 is the key R/S line and also the 0.5 retracement line of prior swing from A to B, which I found...
Monthly MATIC chart shows MATIC breaking the 8 month marco down trend line since 2021 highs. Should be on our way to wave 5 now, ending around $9.50
On the 22nd June 2019, Algorand opened at a price of around $3.28 on Coinbase, and slightly higher on Binance. Over the next few months, it dropped to around $0.1648 (maybe $0.1618 on some exchanges) and then $0.097 at the Covid crisis. Before the 2021 bull run, in November, ALGO's Support level was around $0.2247 (Point X of the harmonic) before it began its...
All is going according to plan, I don't believe we are yet out of correction waters. There needs to be a healthy pull back to accommodate the growth that is coming up, and we have yet to see the completion of the final Elliot wave. Historically pull backs of this magnitude reach the 2.0 fib level but I am planning my take profits at the 1.68 level.