ASX 200 mimics Wall Street's 'risk-on' rally into Jackson HoleOverbought indicators are of little use when markets are obsessed with rate cuts ahead of a key fed speech. Jerome Powell will speak at the Jackson hole symposium and Friday, and expectations for a dovish show are high. And that's helped Wall Street indices extend gains and the allowed the ASX 200 to tag along for the ride. But if this turns out to be a classic 'buy the rumour, sell the fact' tale, traders may need to factor in some of the overbought clues on the daily chart.
Economic Cycles
GBP JPY - not over yet on the weekly TFMaster Key for zones
Red = Three Month
Blue = Monthly
Purple = weekly
Pink = Consolidative box example (Daily)
Orange = Daily
Risk Warning
Trading leveraged products such as Forex, commodities and CFDs, carries with it a high level of risk and so may not be suitable for every investor. Prior to trading the foreign exchange, commodity or CFD market, consider your investment objectives, level of experience and risk appetite. You should never risk more than you can afford to lose. If you fail to understand or are uncertain of the risks involved, please seek independent advice and remember to conduct due diligence as criteria varies to suit the individual.
Below are some of the take aways from the video - please listen again incase any detail is missed.
Weekly zone
Monthly
Do you enjoy the setups?
Professional analyst with 8+ years experience in the capital markets
Focus on technical output not fundamentals
Focus on investing for long term positional moves
Provide updates where necessary - with new updated ideas tracking the progress.
If you like the idea, please leave a like or comment.
To all the followers, thank you for your continued support.
Thanks,
LVPA MMXXIV
Bitcoin All Time High NOT PRICED IN YETFor weeks now, I've been talking about why the all time high for Bitcoin is NOT YET in. (Proof here)
Here are the main reasons why.
👉 Elliot Wave Theory
I've been discussing EWT for many weeks alongside with the bearish M-Pattern that marked the beginning of the corrective wave (3-4). Once the corrective wave finishes, which I expected to be a multi-month playout, the final impulse wave up awaits us (4-5).
👉 Bitcoin-Dominance Increasing & ALTS Bottom
Considering MANY alts have seen bottom patterns after corrections (as discussed in the video), its safe to say the dump is over. But BTC.D is still increasing... If you want to further understand WHY this is a good sign, see HERE:
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KUCOIN:BTCUSDT CRYPTOCAP:TOTAL3
Live Trading Session 263: Open trade on BTC,Gold and moreIn this live trading session video,we look at our open positions on Bitcoin,Gold,potential trades coming up on the other instruments and the thinking behind them. The concepts you learn from this video are cross transferrable principles onto any strategy.
Breakout To The Upside Likely On The DollarWith the dollar positioned to break higher, EurUsd & UsdZar are poised to trade lower and higher respectively ahead of the weekly close. EU reversed from premium daily prices and has now established a trend lower while UZ reached premium and continues to trade higher. How price develops over Asian session will be telling so dive into today's analysis to gain an edge on Friday's price distributions.
Why ALTSEASON 2.0 is HEREIf you've been following for a wile, you'll know I've been speaking of Elliot Wave theory and cycles - and how, from a macro perspective, we are currently in a multi-month correction before another impulse wave up.
By looking at the TOTAL3 chart, as discussed in the video, it seems likely that this may only be the BEGINNING for altcoins... and you'll see why.
Even though multi-month corrections can be demotivating, patience rewards the faithful!
Check out yesterday's analysis on Altcoins that are strong right now despite the recent dip:
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CRYPTOCAP:TOTAL3
Q2 and 100k TC Performance ReviewIn this live trading session video,we look at our Q2 performance on our live trading room strategies as well as our 100k Traders Challenge(TC) Account performance. We then look at the improvements we have introduced and the key actions points going forward. The concepts and ideas in this video can be cross transferred onto any strategy.
Dollar Strength On The Horizon?EURUSD: With price in a daily premium, the 4H has begun trending lower, characterized by the clear push lower, consolidation and breakout to the downside. I'll be anticipating a pullback to premium within the current 4H minor range and a continuation lower.
USDZAR: Price formed a near miss of daily targets at equal lows before a rally higher into 4H premium. We're still trending to the upside with potential for further continuation to the upside. I'll be cautiously watching this pair, looking to take it higher if we respect discounted levels.
Run of Lows Pending on USDZAR Before Breakout Higher 1D: Price reached equilibrium and began trading lower forming a new 4H impulsive leg.
4H: Price is in premium but with an order block resting above current price action, I'm anticipating a mitigation which open up opportunities to buy into the OB.
1H: Run of lows pending from 2 potential areas before a retrace candle to take longs.
OPUSDT - Altcoin with GOOD UPSIDE Potential (Wyckoff)Using the Wyckoff Method has always been my go-to strategy when looking for buy's. The theory behind it is that basically the market goes up, down, sideways, and up again etc. You can dive into more detail by taking a look at volume and trendlines, but for today's analysis we'll keep it simple and focus on the good upside potential for OP.
The above clearly shows an excellent Elliot Wave Theory playout - 5 impulse waves up and the following three corrective waves - indicating the bottom is close.
The above is classic Wyckoff Method Theory together with the emotions at each phase. OP, according to the above, is very close to bottoming out - in other words, a great place for accumulation. During the previous phase, the price increased over 400% over the course of a few months. If you have the patience, it can be a great increase.
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BINANCE:OPUSDT
AUD USD - bulls on parade towards 0.70G'day,
Master Key for zones
Red = Three Month
Blue = Monthly
Purple = weekly
Pink = Consolidative box example (Daily)
Orange = Daily
Risk Warning
Trading leveraged products such as Forex, commodities and CFDs, carries with it a high level of risk and so may not be suitable for every investor. Prior to trading the foreign exchange, commodity or CFD market, consider your investment objectives, level of experience and risk appetite. You should never risk more than you can afford to lose. If you fail to understand or are uncertain of the risks involved, please seek independent advice and remember to conduct due diligence as criteria varies to suit the individual.
Below are some of the take aways from the video - please listen again incase any detail is missed.
The video explains it all - Daily and weekly timeframe for reference
Daily PCP - using Rally, base rally scenario.
Bearish Daily move
Weekly
Do you enjoy the setups?
Professional analyst with 8+ years experience in the capital markets
Focus on technical output not fundamentals
Focus on investing for long term positional moves
Provide updates where necessary - with new updated ideas tracking the progress.
If you like the idea, please leave a like or comment.
To all the followers, thank you for your continued support.
Thanks,
LVPA MMXXIV
Rand Continues to Devalue Against Dollar After Shock ElectionWeekly Wrap Up - Hope You Enjoy!
DXY - Daily ERL was not breached and Weekly FVG not mitigated either as we closed the weekly with an explosive shift of structure higher on the H4. Daily run of liquidity was liquidity being engineered for an ultimate push higher.,
EURUSD - Initial bias on EU's daily run of monthly high (TBL) with a confluent 1H MMXM was correct as price ultimately displaced lower.
GBPJPY - Fairly neutral the entire week after achieving daily ERL but failing to displace through. Anticipating further HTF consolidation on GJ which it tends to do after an extended impulse.
USDZAR - Beautiful structure on this pair the entire week making continuous HH's & HL's. The daily FVG inversion was following by a 1H run of time-based liquidity which manipulated into a 4H 1-sided FVG. Anticipating displacement higher to Daily ERL short term. Political uncertainty around the future of South Africa's governing structure will continue to devalue the rand against the dollar.
US30 - As the dollar gains strength I'm anticipating the sell off to continue in equity markets. Price has traded into an order block with a confluent FVG which is indicating an imminent reversal as the M15 begins to shift lower.
Sam
The Modern Day Trader
Daily Analysis - 04/06/2024 - The Modern Day TraderSpotlight Pair: EURUSD - LONG
- Daily IRL -> ERL
- 4H FVG Has been mitigated
- 1H MMXM failed to for a market structure shift which indicates continuation.
As always, make sure my analysis aligns with your own plan and rules before jumping into positions. Trade Safe!
Sam
The Modern Day Trader
3 key points in Performance ReviewIn this live trading session video,we look at our current open position on AUDUSD trade and a review of our trade history on our traders challenge account. We then take a deep dive analysis on the 3 key points in performance review like a professional. The concepts and ideas in this video can be cross transferred onto any strategy.
Daily Analysis - The Modern Day TraderSpotlight Pair: EURUSD Short
- Daily Run of TIme based liquidity (May monthly high)
- 4H/1H Market Maker Model pending the reversal structure which we could see early in the next London session
- I'll be waiting for a M15 Market structure shift to short this pair,
Trade Safe!
- The Modern Day Trader
Live Trading Session 262: Open trade on ETH,EUR and moreIn this live trading session video,we look at our open positions on Etherum,EURUSD,closed positions on BRTUSD for nice decent profit, potential trades coming on Bitcoin,S&P, etc and the thinking behind them. The concepts you learn from this video are cross transferrable principles onto any strategy.
🔥TON: Listing On Binance And $20 Soon❓It's Worth to Buy NOT🚀🔥 A lot of expectations about Toncoin and Notcoin listing on Binance.
Is it worth to but TON now and wait $20 on possible Binance listing?
3 ways to withdraw your NOT from Telegram
Do you need to buy NOT streight after the listing?
These are the topics that most traders and investors are interested in. This is exactly what I talked about in detail in the video!
🎁 Check my trading ideas for the altcoins that are still at the bottom!
like❤️ and follow
Ditch These ALTCOINS that are UNDER PERFORMING💀Some altcoins have stayed behind during the most recent BTC surge. These include :
👎 DOT
👎 XRP
👎 ADA
👎 UNI
👎 HBAR
👎 CRV
👎 ALGO
Overlay any of these with the BTC chart, and you get something similar to this.
Now compare it to the PREVIOUS BTC all time high.
I'm not saying these coins are done for, or that they do not have a future. But my focus is on coins that can be tradable and profitable in fairly short periods of time. Holding on to an alt that doesn't move for months (only to increase 15%) is a bad strategy.
It would have been more profitable to take the loss and trade another coin with 50%+ increase, such as ETH, SOL, DOGE, NEAR etc. to name a few examples.
Ditch them and focus instead on coins with more volatility - You can't be holding through an entire new BTC high and the alt has barely broken out of accumulation - this simply won't do, because there are many other trading opportunities where you can make bigger gains and better profits just because they actually move.
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BINANCE:BTCUSDT BINANCE:XRPUSDT BINANCE:ADAUSDT BINANCE:DOTUSDT BINANCE:CRVUSDT
Brent stopped out and Drawdown increasingIn this live trading session video,we look at the BRTUSD trade that got recently stopped out for a small loss on the 100k traders challenge account. We also look closely at the drawdown and why this is happening according to the strategy characteristics on both 50% OE and 20% OE strategy. Finally, we explore on what we should do about this by looking at 3 different options. The concepts and ideas in this video can be cross transferred onto any strategy.