find it interesting, this is the sum of all commodities divided by the money supply.
probably doesn't mean anything, anyway interesting.
Looking at the parabolic route of m2 and the commodities basket divided by it didn't move as expected because of it's rally the rally. lot's of money still in the markets.
give me your perspective and ideas
if the sucker goes and closes candle(4h) bellow 1.5766
and giving the current position a higher tp on 1.57 just in case, and leave the actual position in looking for the 1.56 tp
thell me what u think
don't take this trade please, if u knew me u would probably take the counter trade
depending on opening i might enter a short. waiting for a test of trend or a direct down.
recent market conditions make think of a correction, nasdaq was only the beginning, i guess we can find in all markets the same conditions.
sucker currently GBPUSD is in a descending channel inside a bigger rising channel formed in 2020.
the sucker should go down on a tecnical point of view. could go straight down or start bouncing on that grey dynamic resistence giving birth to a descending wedge.
the first scenario would bring new lower lows possibly breaking the year trend
the second one would...
depending on witch line it breaks, it will go up or down.
have no idea about these country's policies, but i guess that japan needs to sell off the yen to have competitive prices on their electronics and industrial products.
on the other side NZ is an economy based on agriculture and tourism, they kind of want a strong dollar. but no idea, since from a tecnical...
saw @secondtonumb8 idea, digged in and found a smaller cup and handle.
courrently running in a channel built from 2015(res) 2018(sup)
the sucker is going up, will wait for break on res line of the cup, sl on the 50%of the channel(grey), might be thight, could be a good idea letting it breathe at entry somewhere in the yellow supp area.
look at @secondtonumb8 idea...
my bet is that it wont go further low, it will bounce off the decade or so trend line, or at least is what is convenient for both of the economies. us depends on chineese exports and china needs to sell.
won't open any trade at the moment.
will observe the developement.
if you have any political macroeconomical suggestions please comment below, thank you
the sucker is following a downtrend since the pandemic hit
it's realy building some manual type wyckof.
verry respective of divergence with rsi.
1.a risky trade could be entring now long, untill it meets the main trend.
2.another is waiting for the meeting with the main trend and go short.
3.this trade could be opened with 1 for a long short option if it breaks...