So far, from the top, Amazon's stock price has fallen around 40% to the nearest support.
The next area of highest volume based on a FRVP is around 80% from the top.
Can Amazon's stock price drop 80% after sustaining such a strong trend over the years?
Of course it can, however this seems very unlikely.
The negative momentum currently is more than likely short...
Fundamental factors aside, gold is in my opinion at an obvious area of accumulation OR distribution, based primarily on the current price action relative to the past.
Factors which will affect golds price path over the next few months include macro economic factors such as the strength of the dollar, a looming recession and how commodities as a whole react due to...
At range extremes, one can assume that based on previous price history that its likely value appreciates from here against the USD - which is also at extremes seen on the DXY chart.
The trade here would be a mean reversion.
No macro or fundamental analysis considered.
For future use.
View of some data that represents open interest and futures positional data.
Labels describe what each indicator is showing.
Don't want to ramble on, as I dont normally use these indicators and wont put my full judgement on them.
Open Interest is currently showing quite a few longs opening up and shorts...
Looking at both the candlestick and line charts on the 1M timeframe, its evident that price has come upon an area of historical resistance.
Analyzing the most recent candlesticks , its also evident that the AUD, while appreciating against the YEN, is losing momentum.
It's possible to attribute this recent strength in this pair due to the weakness in the JPY...
Had difficulties posting the video to this chart on TradingView so I uploaded on YouTube.
-Looking at BTC on a log chart, it's now much easier to scale and have a true view of where we're at.
-200EMA has served as strong support the last three times price interacted with it.
-Based on current momentum, we are bound to hit the previous ATH, which...