Buy on best zoneAnalysis by: EZ7strategy 🎖
📊In these patterns in the chart, the long-term trendline, which we are waiting for a failure to climb, and next to it, the buying areas that have places to be touched at any moment, which is consistent with the end of the second leg of the second move.
🎯Please exit according to the targets and stop loss must be placed.
Primary entry: 0.439 ___ Secondary entry: 0.385
Stop loss: 0351
Targets: 0.491 - 0.579 - 0.671 - 0.802
Economic Cycles
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.
Oil/Gold vs SPX/CPIUCSLThe chart of OIL/GOLD shows that the price of oil in terms of gold has been fluctuating within a channel since the US broke the last bretton woods agreement in the 70's. Since then we can see periods in which oil is expensive and periods in which oil is cheap in terms of gold, right now it's the cheapest it has been (excluding pandemic madness in 2020) and if you believe in head and shoulders you can see a second shoulder forming; so in the following years we could see a bounce and it may be agressive, if that's the case stocks will suffer in real terms. Could something have changed and the price will stay low for many more years, maybe, but I think it's something we have too keep in mind.
Technology and Crypto Cycle Global liquidity leads all.
The winners and main beneficiaries of increased liquidity have been and will continue to be technology and crypto.
Do not fight the tape.
Halving years and post halving years coinciding with the US presidential election and the debt refinance cycle for the government is a breeding ground for increased liquidity on the horizon.
Bears will continue to post recession porn but the chart speaks for itself. This time is not different. You cannot call for a black swan that is not how it works. Everyone debating over whether or not the bull is over or is only just beginning is classic disbelief right before the euphoria. Lots of people on the timeline shorting AT LOWS and becoming max bearish is the sign.
Oct 2023 - Mar 2024 was just a sample of what is ahead.
Being consistently bullish and optimistic has offered substantial returns the past couple of decades and will continue to do so as technology improves in the next decades to come.
Short to med term I would not be surprised if we see some pullbacks and ranging in equities as well as crypto. But heading into Q4 and especially beginning of 2025 I expect significant strength in the markets.
BTC - Orange
NDX - White
Global Liquidity - Teal
De-Dollarization and the Unstoppable SPY - It's somehow insane to me to wake up and see such doom and gloom on the screen, and have such a strong CBOE:SPX ripping in the face of all the bad headlines.
Yet again this morning we're up and to the right, despite a "bumpy landing", war in the Middle East, and various black swan events in Asia among other regions stirring rumors of various unwinds.
How can the headlines miss this bigger picture?
While doom and gloom reign, there is a lack of coverage around the Dollar Index ( TVC:DXY ), which takes a mix of data from both central banks and currency pairs, and pulls them together to look at Dollar strength relative to the world. The index moves slowly, but it's the larger trend that reporters often fail to make a headline out of.
There is no doubt that over the last few years, the dollar remains stable, as it's done very little... but today dollar instability may become more of a common discussion.
Despite the DXY instability, people are still confident in the US economy, and that means a strong equity index performance as a result, considering most S&P 500 and major companies are exporting at a higher rate than importing, and as a result, their COGS, as well as other key cost measures, will decline on a relative basis.
If we were indeed in a protectionist regime, it would be MUCH harder to keep indexes moving in the right direction, but it does indeed seem like we are on track to have a weaker dollar in the near-term. If we do import more consumer staples than we export, a weaker dollar creates more inflation woes. This is not likely a problem for groceries, energy, and auto, which have some strong domestic offsets to keep competition prices low.
I would assume - albeit I don't know - that the Federal Reserve has a perfect sense of what dollar weakness is good for, and I would think that it is an inflation trade that they parry with a weaker dollar.
This leaves me to ask... how low can the dollar go?
What other assets benefit? Obviously $ BITSTAMP:BTCUSD ?
BIOC A safe and excellent opportunity by all standardsWhat the global atmosphere is witnessing is the escalation of the new monkey epidemic, and also the raising of drug prices in Egypt by a decision of the Egyptian Medicine Authority.
Entering the diverse winter season can be more difficult than summer
is a paradise for Egyptian pharmaceutical companies listed on the Egyptian Stock Exchange
From my personal experience, I exited gold today on the date of publication of this theory, and tomorrow I will buy an amount of shares amounting to 10 thousand shares.
I put this process into history for success or otherwise, and I hope to achieve 25 to 30% returns on that money.
CLF | Steel will make a comebackCleveland-Cliffs, Inc. operates as a flat-rolled steel company, which supplies iron ore pellets to the North American steel industry. It engages in the production of metallic and coke, iron making, steelmaking, rolling and finishing, and downstream tubular components, stamping, and tooling. The company was founded in 1847 and is headquartered in Cleveland, OH.
Elliott Wave Intraday Analysis: NFLX Should Continue RallyShort Term Elliott Wave in NFLX suggests that the Stock has completed a bearish sequence from 7.05.2024 high. The decline made a double correction Elliott Wave structure. Down from 7.05.2024 high, wave (W) ended at 600.00 low. Rally in wave (X) ended at 678.97 with internal subdivision as a zig zag correction structure. Up from wave (W), wave A ended at 655.54 and wave B ended at 631.50. Wave C higher ended at 678.97 which completed wave (X) in higher degree.
Then, NFLX turned lower in wave (Y) with internal subdivision as another double correction structure. Down from wave (X), wave W ended at 617.00 and wave X ended at 646.71. Last leg wave Y lower ended at 583.50 which completed wave (Y) and ((4)) in higher degree. The current rally is in progress expecting to continue higher as wave ((5)). Near term, we are calling a leading diagonal as wave 1 of (1) of ((5)). This wave 1 ended at 632.00 high and wave 2 pullback finished at 605.50. From this point, the stock resumed to the upside in wave 3 and once the wave 3 is completed, it should see 3, 7 or 11 swings correction as wave 4 before resuming the rally again.
BTC1. Bear Markets Top to bottom.
2. Each one is always slightly less severe than the last as market matures.
3. We can expect a 66% drop from 73.8k to 25k.
4. I expect a big bounce at 32k but to ultimate fail and break to 25k.
5. Earliest possible bottom is March 2025 but I dont expect a bottom until November 2025
Elliott Wave Intraday Analysis: USDJPY is Correcting higherShort Term Elliott Wave USDJPY suggests that the pair is developing a bearish sequence from 07.03.2024 high. The decline made a double correction Elliott Wave structure. Down from 07.03.2024 high, wave A ended at 155.36 low. Rally in wave B ended at 157.86 high with internal subdivision as zig zag structure. Then, the pair resuming lower completing wave C at 151.93 low which ended wave (W) in higher degree.
USDJPY turned higher in wave (X) connector ending at 155.22 high. Down from wave (X), the pair continued forming the double correction structure. Wave A of (Y) ended at 148.50 low and wave B bounce ended at 150.89 high. Final leg lower as wave C ended at 141.66 which completed wave (Y) and ((W)) in higher degree. The current rally is in progress expecting to continue higher as wave ((X)) correction. Near term, we are calling an impulse structure as wave (A) that ended at 148.22 high. Now, the pair is developing wave (B) pullback. This retracement could end in 145.43 – 144.08 area to then continue higher in wave (C) of ((X)). Once wave ((X)) structure is finished, we are expecting the pair to continue lower in wave ((Y)).
BTC Long - Comparing to Global M2GLOBAL MONEY SUPPLY vs CRYPTO Relation
Global Money Supply Breaking Upwards
has historically led to
All of Crypto Breaking Upwards CRYPTOCAP:BTC CRYPTOCAP:SOL CRYPTOCAP:ETH etc
Right now, Global Money Supply (Global M2) is breaking upwards to new all-time highs.
Publishing to follow, as I am relatively 'newer' at using macro tools such as Global Money Supply (Global M2) in relation to projecting crypto greater cycles
Cheers
-@CryptoCurb
Long trade
The Wyckoff method has been used as a narrative for this buyside trade.
Trending Inside the Range in the Wyckoff Method
The Wyckoff method is a technical analysis approach focusing on market trends, phases, and the behavior of large institutional investors. It involves phases of accumulation, markup, distribution, and markdown to predict market movements and identify trading opportunities.
Trending inside the range occurs during the accumulation and distribution phases. In the accumulation phase, large investors build positions within a price range, absorbing supply without significantly moving prices. This phase is characterized by horizontal price movements with defined support and resistance levels.
The current trade capitalizes on movements within this range, seeking to exploit the predictable behavior of prices before a breakout.
Tue 5th Aug 24
9:00 AM
LND to NY Session AM
Buyside
Entry 1Hr TF
Entry: 0.64800
Profit Level: 0.66692 (2.92%)
Stop Level: 0.64693 (0.17%)
RR: 17.68
Target: Price low 0.66688
3rd July 24