I have been watching and reading a bit recently around how the transport sector leads the markets and can see a few reasons why.
In the top chart you can see divergence just before the Covid-19 black swan and now we have a very heavy divergence in play similar to what led the market before the 2007 crash, it could be seen as the start perhaps.
Theres a lot of...
Just messing with fib rings and fib channels and noticed once we crossed these rings along with the fib channels gold has reacted, gold is heading to the top of the fib channel before a sharp drop?
This coincides with the DXY's break from a weekly downtrend channel and could impact gold over the coming months
As you can see by going back through the gold charts history, this moving average cross signifies a big switch in momentum, not even the covid panic stopped the uptrend.
Gold looks to be descending in a channel and the cross adds to the idea that this looks like a safe short for the next few weeks.
Please let me know your thoughts
AUDUSD is under a custom baseline and has now crossed a lower high on the MACD which usually signals a strong trend on the MACD.
Backtesting this shows 200 pip gains on these swings with a 100 pip stop sufficient. Good 2/1 risk trade
Look into the performance of similar pull backs over the last 3 years on fib based bollinger bands and you will see that each time it has reversed from this point it has brought back excellent gains.
On set 5/1 R/R as stop should be moved up until an eventual pullback
As you can see, the last two scenarios where the MACD crossed bearish while retracing above the 200 ema there was a nice move. I use a dinapoli indicator for my confirmation to enter.
I think BTC will go much higher and am holding instead of trading but you can see that the trend should be up.