EURJPYprices likes to repeats time and time again as you can see both trades are the same but the right being the bigger version look at how price moved up with some strong bullish momentum but as seen with price action this played a roll in catching other out buying when they see candles like that, then what happened next we moved up into a correction followed by a double top or the cup and handle as people say for a sell this is why i love looking at price and this gives us better direction but not all the time i would say an edge within the markets but seeing this helps of course,
Fearandgreed
breakdown on GU,EU key points on them good morning traders, so this is a little breakdown on GBPUSD and EURUSD and what i'm looking at for the upcoming weeks, there's a lot of room on both pairs and now we just need to wait for the time or the confirmation before we take them, don't get the fear and greed of missing out as this can play on your feeling and emotions with trading we don't want this, be the best you can be and follow what price is telling you, fear will crush you in the long run learn to be patience and wait for its hands first i hope this helps and would love to know what you guys think
all stay safe and have a great weekend!
BTCUSD - Uncertain situationWell, I am really not sure what is going to happen the next days.
The BTC indicators I am currently seeing are:
- Fear and Greed Indicator is very low and 5-10 levels normally is a good buying opportunity
- Bitcoin on Google Trends is rising very fast, which could potentially mean a rising interest
- If we keep that level, this could be the biggest triangle and continuation I have ever seen. For that reason, I will keep my leveraged long open, just in case we skyrocket in seconds.
- Having lost important EMAs, we could as well be in a bigger bearish channel or something similar, that's why I'm saying that I really don't know which side to take position on.
- The 1h chart is contracting, which let's me believe, that there is going to be some action very very soon.
Overall market signals that I see:
- Not just stock markets have lost value, so did Gold. Which leads me to think that an economic crisis is on it's way. These would not end well for Bitcoin either.
- The inverted yield curve (cross from 2 year and 10 year treasury bonds) triggered already, which historically has always been the start of a recession.
- I expect certain markets such as DJI to recover a bit (maybe to 23500) and this could push us back up for a while. On the other hand, I don't believe in it too much, because COVID-19 is not yet over and this negates the pull-back IMO.
- The altcoin market has the potential to drop to 14B, which would be another 65% drop or around 40B of lost money.
If COVID-19 is not rapidly gone from mother earth or at least made treatable, markets are going to bleed more and more till the day we manage it.
It is probably better to stay on the sideline with bigger positions.