SuperCycleBear

SuperCycleBear

Have to go back to early 2020 to find support at the Point of Control in TLT around 138.50

SuperCycleBear

Big picture the price action for Bitcoin is compellingly bullish however on shorter term time frames the picture is not as clear. The medium term (bigger) profile has a more Normal or Bell shape indicating a more balanced market, whereas the shorter profile looks decidedly "b" shaped indicating more sellers than buyers in the time frame since the Elon inspired...

SuperCycleBear

Gold has undergone a healthy correction in price over the last month or so, but now it looks as though we are moving into consolidation (or maybe even back into rally mode). The long sideways action prior to the recent sell off established a mature distribution to which we now seem likely to revisit. Good chance price will now gravitate to the old Point of...

SuperCycleBear

The clear "P" shape of the profile and recent news of high profile investors selling banks and buying gold miners suggest quite a strong opening this week in gold. I find the GBP gold price to be less prone to being pushed around by competing trading strategies that can muddy the USD gold price. Significant upside to above GBP1580 while unlikely, cannot be ruled...

SuperCycleBear

Coming into NFP (even if it is likely to be a rogue number) there will be a tendency to square up, which means gravitating back to the short term POC. In the GBPUSD that's around 1.3140. Buy 1.3115 Helping it is the fact we have just completed an 80/20 traverse of the value area - also suggesting a move back to the POC. Stop below 1.3110

SuperCycleBear

Looking at the XAUGBP market to give some clues as to the resolution to the standoff in XAUUSD. Price has come back to the POC at 1508 only to see the trading volume just lower puch the POC down a tad. Maybe nothing but could give a clue that further downside in XAUUSD may be afoot.

SuperCycleBear

Having reached the GBPUSD long term Point of Control (POC) at 1.3160 (ish) consolidation at least should be expected. Continuation to the top of the Value Area at 1.3430 is likely in medium term according to the 80/20 rule. A short term correction to around 1.2980 is still consistent with such an outcome.

SuperCycleBear

This move looks the real thing, having started from the long term point of control.