GOLD and S&P 500. Important stages
Updated
Hi All,
I have two charts here in order to plan how I will approach BTC as well as GOLD, in the long term.
First Gold (CDFs):
===================================
Observations and thoughts:
> A massive irregular dump at the time of the stock market crash (The Paul Volcker effect - controlling the price of gold in the interest of the USD).
> A potential diamond pattern in the making (can be a reversal or continuation)....I think reversal to save the USD
> Its not worth trading until the pattern is completed. At this instance, down to the 0.5 fib level.
S&P 500:
==================================
Observations and thoughts:
> We hit the 0.5 fib. level of this impulse wave, strong resistance.
> 0.618 is the target (the rich lobbying for bailouts, buy lots of stocks, sell what they have already, cut their losses and pay back the loans)
> I'm expecting the bottom to be revisited or near about's or more lows (global economy impacted by the C.Virus).
Thoughts:
==================================
> How does this effect BTC? it does in a big way.
> Its been proven on many occasions, both Gold and the global stock market (pivot points) drop (or go up), BTC responds at those junctures in the same.
> However BTC or crypto has exponential response.
FYI. BTC heading for 6900.
All the best.
Please give me a tick or a like as an appreciation of this post.
Regards,
S.Sari.
My previous post on GOLD. Got it right
BTC correlation post
I have two charts here in order to plan how I will approach BTC as well as GOLD, in the long term.
First Gold (CDFs):
===================================
Observations and thoughts:
> A massive irregular dump at the time of the stock market crash (The Paul Volcker effect - controlling the price of gold in the interest of the USD).
> A potential diamond pattern in the making (can be a reversal or continuation)....I think reversal to save the USD
> Its not worth trading until the pattern is completed. At this instance, down to the 0.5 fib level.
S&P 500:
==================================
Observations and thoughts:
> We hit the 0.5 fib. level of this impulse wave, strong resistance.
> 0.618 is the target (the rich lobbying for bailouts, buy lots of stocks, sell what they have already, cut their losses and pay back the loans)
> I'm expecting the bottom to be revisited or near about's or more lows (global economy impacted by the C.Virus).
Thoughts:
==================================
> How does this effect BTC? it does in a big way.
> Its been proven on many occasions, both Gold and the global stock market (pivot points) drop (or go up), BTC responds at those junctures in the same.
> However BTC or crypto has exponential response.
FYI. BTC heading for 6900.
All the best.
Please give me a tick or a like as an appreciation of this post.
Regards,
S.Sari.
My previous post on GOLD. Got it right
BTC correlation post
Comment
Discord: discord.com/invite/vb4hbP88vb (TradeToProspa)
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.