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Chart Patterns Tutorial Technical AnalysisThis video is an overview of Fibonacci golden ratio chart patterns for those who are new to trading, crowd psychology, and/or for those who aren't sure what any of this means. I am particularly fascinated by the fact that certain world events and media FUD are aired in accordance with certain fibonacci zones, which is contributing to an in-depth exploration of the hive-mind hypothesis beyond what could merely be trading reaction to support/resistance zones without macro global influence involvement. I hope to eventually chart a time frame of media events and compare how they line up within the various golden ratio zones.
BYBIT:BTCUSD.P
by EsotericTrading
7
The Dollar's last hoorahThis chart shows DXY over an equal weighting of gold + silver + crypto. The idea is that these asset classes could potentially replace the dollar in global reserves, thus weakening the dollar. During a downtrend in the dollar starting in March 2020, we see a channel up in the dollar while alternative assets even sell off during the same period. In this ratio chart, a rising wedge is near it's pinnacle, revealing a continuation in the downward trend for DXY and bullishness for metals and crypto. I expect this chart to fall to around 30 before end of 2022. That is, January levels on DXY around 90. This chart also shows a bullish case for those alternative assets. Gold and silver just completed an inverted head and shoulders pattern and look ready to start a new bull run. Bitcoin just reached a new ATH.
TVC:DXYShort
by rrmhearts
3
Bitcoin: Think 2021 is like 2014 & 2018? Think Again.Many bears are comparing the 2021 Bitcoin price action to that of 2014 and 2018. The BTC/SPY ratio chart suggests this time is already different. I suspect many bears will be in for a rough period ahead, and many no-coiners will be left on the sidelines as Bitcoin enters the next bull run. Two essential items to note: 1: The 30-week SMA has failed to hold the ratio down. With this week’s (pending) close, the ratio will close above the critical moving average for the third time after the “top” was put in. This close above the 30-week SMA NEVER happened in 2014 or 2018. 2: The momentum (via PPO – bottom of the chart) has failed to put in a bearish crossover as the bulls send prices higher.
BITSTAMP:BTCUSDLong
by TraceBusta
2
Glencore Plc vs Anglo American Plc (London)Late last week on the trading desk, I presented a technical chart highlighted my perspective of the monthly chart for Glencore relative to Anglo American Plc on the London Stock Exchange (LSE), with the comment as follows: The relative monthly chart for GLEN vs AAL is suggesting the potential for a long-term shift, where GLEN could outperform AAL. I've overlayed Albermarle (one of the world's biggest lithium producers) and Piedmont Lithium highlighting how the relative ratio chart could 'catch up'. Glencore's portfolio is well-positioned to benefit from the EV revolution which is in its infancy. Note the base having developed, with the price now having pushed up to a 17-month high. In addition, the 14-month RSI is attempting a 6-year downward trend line breakout. Note: For the sake of clarity, the chart presented here is without Albermarle and Pidemont. So far we have seen the relative price rebound twice off the 200-day and has advanced by +4% so far this week. Can it continue? For more insights, perspectives and real-time trade ideas, get in touch today.
LSE:GLEN
by LD_Perspectives
2
SP500 Broke 2018 Highs In Gold Price; Time For A Pullback?!Hello traders and investors! Today we want to update our SP500 against GOLD, SPX/GOLD ratio chart, which we see it now breaking 2018 highs, clearly within an extended wave 5 of III, which means that we should be now aware of a pullback that can cause limited gains on SP500, while GOLD may become supportive. Notice that GOLD is currently trading at strong 2019 trendline support, which was resistance from March 2020 COVID crysis, so in case of bounce and recovery from that projected support, bulls would be still in control. We also want to mention that SP500 can be finishing potential ending diagonal (wedge) pattern, while GOLD can be forming a big bullish triangle, now at the lower side of a range. However, more about this in our next article as the price action unfold. Be humble and trade/invest smart! If you like what we do, then please like and share our idea! Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
SP:SPX
by ew-forecast
2