Elections
XAUUSD coming out of election day uncertainty#XAUUSD (Gold) (1H):
The large indecision of the past days is reflected on the chart, forming a triangle, which is now being broken to the upside.
This could be a good opportunity for a medium term buy position if the retest + rejection of previous high will occur.
SP500: A WORD OF CAUTIONA massive spike in stock prices has occured this week, rallying towards the upper trend line of the September wedge.
Unless both sides of the US elections will accept the result soon, be careful in this market. If there's one thing that investors dislike, it's uncertainty.
With Trump already questioning the results beforehand, chances are that the stock market will face massive swings. Expect a lot of volatility in the coming 2 weeks!
Bitcoin ascending Triangle - normal PA not the electionthe recent drops have not been lower than RSI 50 and to about the midle of bolinger bounds on 4H
Keeps printing higher lows and 14100 will break sometime between now and Nov 16
targets 15K and 16K
ABout elections thy happen to be every 4 years and bitcoin halving is every 4 years so dont think Bitcoin price is affected by elections
it may however have temporary wicks because is traded mainly against USDT / USD
2020 had bitcoin halving so expect btc to moon in 2021 however it will be quite a bumpy ride
If you are as me and have less than top day trade experience only buy the low dips and sell at resistance , TV has lots of info on resistance targets, it often gets that right but gets support levels wrong because most people dont understand bitcoin's and other crypto major coins value and use only TA
USDCHF H4 - NeutralUSDCHF H4 - A snapshot example of the election impact on USD and risk pairs, technical structure holding, but that's nothing to base a trade off during these times. Much of TA on other pairs aren't infact holding. Wicks upside, wicks downside with no clear direction, and we are yet to decipher market direction until more clarity comes to the surface. I'll provide a summary on all headlines probably around UK lunchtime, there is some eastern headline catching up to do, plus getting ahead of todays headlines too.
GOLD UPDATE| TECHNICAL ANALYSIS
The previously discussed short on GOLD played out nicely and now we are seeing Gold bouncing up from the support.
There are no long opportunities on gold now, but there might be two potential short spots.
One, at the confluence of the falling resistance levels. The other, at the confluence of the green horizontal key level and the rising resistance line.
In both cases, I'd be looking for a reversal pattern and a confirmation for me to enter a short.
In the Video, I forgot to mention, that this week is the US presidential election week and so many might seek to buy gold as a safe haven, so I would not keep large positions open!
It does not mean we should not trade, but I would enter the trades I discussed only if I see a SUPER solid entry point!
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See you then!
Euro Dollar to spike before a Sell-Offthe pair is completing a complex corrective cycle labeled as W,X,Y, which in my opinion can be already done and we will start looking to short the pair from current levels.
however because of the US Elections today im assuming there might be a more Complex scenario that can push the euro higher to an extended wave (X) before falling down.
thats why i will be putting sell limit orders on the eurusd near 1.1899-1.1905 with a tight stop loss near previous high trying to avoid the noise or the volatility during Election Results.
Good Luck Traders!!!!!!
GBPUSD US ELECTIONS SELL LIMIT!!!!!!!!!the Pair traded in a range the last couple weeks, however the pattern shows that the upside momentum is still corrective for a
downtrend continuation. 7-9-11 swings are related to A,B,C corrective phases in Elliott Wave Theory.
tomorrow is the US ELECTIONS results so we will definitely expect high volatility trading, thats why i prefer to put pending orders ( sell limit ) orders near 1.3270 level
to short the pair and probably target 1.2390 the monthly engulfing pattern target.
Good luck
PULLBACK IN ORDER FOR BITCOIN?Sup cryptomaniacs
Bitcoin climbed beautiful as my last prediction, now what im seeing is abit of exhaustion with a pullback on the cards.
It had a very nice run, but the wings need to cool abit.
This just means more buying potential!
As always, keep the risk managed
Cheers :D
GOLD UPDATE| TRADING PLAN
GOLD hasn't moved at all during the last trading days, as I suspect the market is waiting for the election results, which will be held in just a week.
Now, I am bearish on gold as it is within the downward channel, and broke out of the smaller upward channel.
So for those of you who want to be in gold, you might go short now, with the target of the green support level.
Yet, remember about the purple support.
Maybe it is safer to wait till the daily support breaks too.
But then the question of the sufficient risk reward would arise again.
All in all, I choose to be on the safe side and stay away from gold till I know the results of the election.
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S&P 500 Bullish Pennant Incoming???Do they play around with bears? is this a massive bull pennant ready to explode to 4k? Check all the companies that announce earnings this week for hints!!!
We already have multiple formations like Inverse H&S, Bull Flag, Cup & Handle and now we have this one as well... The stakes are high and although i am not a US citizen i have a feeling that Trump is going to get re-elected. Take that in consideration together with the fact that FED stated it will keep interest rates to 0% until 2023 we may be in front of the biggest bubble in financial history!!! Big up till 2022 and then Michelle Obama will come as a savior to unite the United States of America.Stay on the sidelines is the best strategy for me at the moment, wait for strong confirmation and enjoy the ride :)
Bitcoin and U.S. elections. What does the past tell us?Undoubtedly the most important event of the upcoming week are the U.S. Presidential elections. We have seen in the past the high impact that the result has on the financial markets and Bitcoin is no exception, especially in late years where it is more correlated with the stock market than ever before.
So how did Bitcoin trade during the past two U.S. Presidential elections and what hint that gives us for the current one?
** 1D time-frame **
Looking at the three bottom charts, we have (from right to left) the price of BTC during the 2012, 2016 and 2020 (current) elections on the 1D time-frame. As you see on all three occasions the price is trading above the 1D MA200 (orange trend-line), which is a strong indicator of a bullish trend.
What is more interesting than that, is the fact that both on the day of the 2012 and 2016 elections, the price was +17% higher that the 1D MA200. Assuming the same pattern holds this time (2020) too, then Bitcoin should be around 12000 on the election day (November 03, 2020).
** 1W time-frame **
The upper chart is the price of BTC on the 1W time-frame. As you see it has been above the 1W MA50 (blue trend-line) on all three occasions, which indicates strong long-term bullish bias.
As on the 1D chart, what is even more interesting than this, is the fact that both in 2012 and 2016 the time from the day of the elections until the next Cycle Top, was roughly 400 days. Assuming the same pattern is followed, we could have a top in December 2022. Whether that's an interim top or a final Cycle Top, it is unknown but being a final top would go against Bitcoin's theory of lengthening cycles. But it is a good benchmark to follow for long-term investors seeking hints on when/ where to take profits.
Do you think a 12k price on the election day is a bottom? Feel free to share your work and let me know in the comments section!
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GBPCHF H4 - Long SetupGBPCHF H4 - Same reasoning for EG shorts, fundamentals spiking GBP and market volume comes into play and EUR/LON markets react to weekend headlines. Still best practice to let the dust settle after such an opening. Personally like to let London morning do it's thing before looking to scout any trades out around NA/LON overlap time.