Watching EWZ here. There are some signs of life. Weekly ha oscillator is near zero line and price is bouncing of kumo and kijun support zone. Daily is showing a reversal candle as well. I'll watch price action in next couple of days and initiate a long if i see follow through. EWZ is also a proxy of sugar and coffee and there are some political factors at play...
Credit spreads are bouncing off trendline and spx is breaking trendline. Charts are turning bearish and we may be in for a meaningful correction.
'll post detailed charts this weekend on my blog as it is much easier for me: chartsonmac.wordpress.com.
Just wanted to share.
I am looking for a bear steepner at this time. Keep an eye on 10y yields. We may see kumo breakout soon. This will impact a few things.
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Hey guys and gals,
I don't normally trade crypto currencies but everytime i come on trading view, i see people making random predictions with crazy headlines about cryptos. Here is what i see in my thought process:
Fundamental: Bitcoin is acting like a safe haven in current environment. With negative yields around the globe, currency wars , trade wars, political...
Taking a long sugar trade. Grains, in general, are well bid and DBA is another class you should look into. The fundamentals are backing up the technicals here. Key reasons for this trade:
1. Chikou is above price on daily.
2. Daily Kumo and kijun provided support on price pullback and today was a sharp reversal day.
3. Weekly macd is crossing up and Price...
Eurusd is a slow grinding falling wedge and daily is starting to confirm my bias now. I expect a major rally to the upside. I am not long yet but i do believe that bottom is in. Waiting on daily cloud break to buy. Will update here once chart confirms. Just putting my thoughts out here.
Party is just getting started. A major risk off will be triggered by the breakdown. Key risks being china and the global banking sector breakdown. Sell any spikes in usdjpy. Very nice weekly chart with macd crossed down near zero line and chikou below price, confirmed by bearish daily ichimoku chart.
Thanks for the read