Our 2023 Outlook - S&P500 🔮Happy New Year traders from the team at AlgoBuddy! 🎇
2022 was a big and exciting year for us. We recently released the latest version of AlgoBuddy's flagship indicators; AlgoBuddy Premium 2.0 & AlgoBuddy Momentum, along with an ETH 30m strategy bot. 🔥
Our goal here is to always deliver helpful & actionable tools for traders to add to their trading tool belts. We'll also continue to release more tutorials and trade ideas every single week.
Enough about us, let’s dive right in…
2022 was a year to remember for US equities. Bears clearly took control, as we had a strong down trend bear alert early in the year from AlgoBuddy. We had a few bear market rallies that every trader had to navigate through carefully. Managing capital, and not jumping too quick on to the bull train would have allowed you to survive.
By end of year 2022, bears couldn't take us below 2021's low as the bulls defended it nicely (~3860). This is a major level that if we test again will likely fail.
As of right now and moving forward, it feels that since inflation is still high, and the fed hasn't taken its foot off the breaks on the economy (interest rates), any rally is still a bear market one for me.
We will continue to lean into the bear trend as seen on our weekly chart until we receive a bull alert. Even when the bull alert prints I fully expect price to capitulate and test our thick ribbon at least 2x before finding a base to rally.
We recently got a divergence bullish signal on our momentum indicator so we will watch closely. I must see the fed step in and assist economic growth before I jump onto the bull train, even if I'm late to the party I can live with that.
Until then, Algobuddy's S&P 2023 outlook is bearish on the weekly for at least end of Q1 2023. We will trade small on short term longs keeping stops tight, and we will jump easier on our shorter time-frame bear alerts for now until the trend changes.
Good luck all, as always reach out to us for any questions/help/support.
Happy trading,
AlgoBuddy Team
Marketprediction
BTC - Three peak cycleHello Traders,
I have made many charts before in regards to the current cycle. I have always tried to look at the perspective of the market away from bias opinion. I have explored many different data points and perspective from technical and a fundamental level. But most importantly, I am of the opinion of lengthening cycles and diminishing returns. Here are some of my previous charts and description that can add context and depth to this analysis.
This model was constructed from a fractal in the 2017 cycle. So far it has been very accurate in reclaiming all time high's (ATH) then the current pullback towards the mid 50k region.
This was an idea from a fundamental perspective as I explored the correlation of media attention and affect on market cycles. I concluded at a time when people were calling the bounce from 30k to 40 was dead cat bounce, was actually not.
The more I look at the data and this cycle matures, I realise that the cycle has it similarities but has its unique characteristics. Perhaps I'll be wrong and Bitcoin will fail to put in another ATH and the bears will win this point. However, I would like to put my theory forward.
I think that Bitcoin will fail to breakout past 100k upon reaching it. I also expect the RSI values to be higher then 90 on the weekly suggesting the commodity is over brought and will lead to another pullback like scenario we saw in April.
2013 first peak 101
2013 second peak 96
2018 peak 90
2021 first peak 96
2021 current level 54.74
This will leave the market to bleed for some months but I think it will find support on the middle of the logarithmic growth band. Thereafter, there will be another rally that will be parabolic and conclude the third leg of this cycle. I'm expecting to come close to valuations at the top of the logarithmic growth band as we have seen with all previous market tops, I don't think this cycle will be different. A summer top would give us a market top around 180k. Also expecting very high RSI levels and on the BTC risk metric.
Finally, the bear market. Massive pullback, dead cat bounce and failure to hold any of the significant moving averages, bull market support band etc. I think dipping below the middle of the logarithmic band and failure to break past it is also confirmation that the price will be headed towards the bottom band. I also think that with each cycle the volatility will decrease and therefore bitcoin will never see another 85% pullback like we have seen with previous cycles.
Bear market period 2014 (420d) 87.11%
Bear market period 2018 (350d) 84.10%
Bear market period 2022 (420d) 57.5%
I think this cycle is more similar to 2013 as we have multiple peaks and therefore expect a bear market period to recover similar too. Of course this is much speculation never be too deterministic, always do your own research and be prepared for any scenario in the crypto markets.
GOLD price movement predictionBased on CMP (current market price), the gold price has tendency to go down again to a very significant zone 1754.87-1751.17. If we can see to the left of CMP, this zone is significant due to its strong resistance. The price tested several times at this zone before and failed, thus pullback to its support zone and once its breakout from this zone, the price significantly rally in bullish trend.
TRADING PLAN:
1: Scalper: Buy at yellow zone, Sell after breakout
2: Swinger: Sell position due to Daily timeframe trend
To see the big movement in Daily timeframe, the price is in downtrend, thus to be safe, we are most probably looking for sell if we are a swinger trader.
But as me as a scalper, at the yellow zone, most probably we can find buy position in a short time and its safe that we can get 20-40 pips from the entry zone. And after the price breakout from the zone, we will find entry point for sell.
Bear in mind the zone made is at H4 timeframe, and the best to monitor is the H4 candle because there might be false breakout in the smaller timeframe
But be extra careful because the zone is vey significant, and with gold volatility, most of its movement is unpredictable.
Once again, manage your trading plan wisely.
If you like my idea, please share it with your fellow trader and do comment if you have any opinion regarding my idea. We can help built a better trader community for the future.
Good luck and all the best everyone.
-EraBiru, HXF Academy-
You can find us on facebook : HXF FX
Thanks for your continuous support. I happy due to many of you has view my idea.


