There sort of an inverse Head and SHoulders formed for XRPBTC (shown chart is inverted)
Descending trendline (there is quite few of them) is broken too.
Ripple and Bitcoin will Diverge
Looks like ripple is charging on two cycles once to .8 then to 1.05 (according to the famous log channel many members are sharing)
on meantime Bitcoin may hold a bit at 8000 then...
attack on oil facilities in saudi is disrupting about 5% of global supply, will look for price to rally.
(though strategic reserves will be withdrawn and other opec producers will open taps to counter this shortage)
May exit lower than 75$
Most important thing is to enter trade as soon as market opens.
My predicted moves for EURUSD,
Some expected relief in euro area, an Trump's monetary easing pressure may have an effect.
But big problems are around the corner in europe, with threats of fragmentation, which will drag the euro once more to historic lows...
Low probability both to come true.
I believe ripple will reach ultimate target of 1.05 on two steps.
First is towards 0.78 to initiate soon, as XRPBTC is charging to explode upwards.
Price would retrace later following a dump in crypto's, where bitcoin will retrace back towards a trade line at around 6000$ which will drag XRP with it in terms of sentiment etc...
Second increase will occur towards...
Risk reaction will continue till 1615 (some fib. retracement),
then with the FOMO effect loads will buy gold, and big institutional traders will then short the gold to squeeze profit out of them. First to 1400 with fluctuations there, then down to 1200.
Then they will cancel most other traders with the trick move, and the real gold price ascent will happen from...
So China imposed tariffs on 75 US Billion of US imports, of soya, oil , etc..
The drama will occur again and Trump will spit back with tariffs or measures on a surprise,
so as an anticipation shorting Chinese stocks index is recommended.
SL is set based on shown trend line acting as resistance,
TP on Fibonacci sequence.
Bank earnings came mixed so cant comment much on it.
But there seems to be plenty of resistance (trend line, fib- expansion,...) at this level and betting on price to retrace back to ~2870.
SL is tight about 3040, so not much to lose at this entry
Hope this trade will have a good probability of success due to confluence of:
- fibonacci levels from two retracements.
- trend line as drown
fundamentally, oil price fall may drag the ruble down
but inflation data will come out tomorrow and unsure about it
Ripple didnt make the big shoot in price in line with Bitcoin yet,
while looking at previous bubble of late 2018, there is a gap between the two.
And by the time bitcoin started retracing, ripple picked up
Hope this time gap will replicate now.
TP at 1.05 to 1.10 range, or exit trade within a month
SL at 0.19
Just dropping a thought on the possible moves of bitcoin,
I think profit in BTC now is mostly driven by tricking and making profit on other traders' loss.
And few fundamentals, so I ll treat the trade here like a chess game.
Last rally appeared to be strong but faded in the last three weeks to what appears to be a clear move downwards (weekly candle, some form of...
Short based on
1) Head and Shoulders formed.
2) Current tumble in other indices that will drag FTSE with it
3) a correction in recent drop of GBP may occur, there is an inverse relation (relatively) between the index and GBP, which will drag the FTSE down.
This trade is based on the rising tensions between China and US,
China is out of its tariffs card and may resort to other retaliation options.
At this time, rare earth metal production is dominated by china, and some of these metals are essential for electronics, magnets, etc...
If china resorts to restrict the export of these metals then REMX ETF (a basket of...
this trade is based on trump's tweet:
"If we bought 15 Billion Dollars of Agriculture from our Farmers, far more than China buys now, we would have more than 85 Billion Dollars left over for new Infrastructure, Healthcare, or anything else. China would greatly slow down, and we would automatically speed up!"
This is with regards to american agricultural exports...