Gold Cup & Handle All-Time-High $3600See fib extension, fundamentals say gold is going to become standard store of wealth worldwide throughout SARS-CoV-2's lifespan.
Highs
How I see the future of BitcoinThe last days have shown Bitcoin is still in the same bear market it has been in since the all time high. Every pump in between is just a correction (see: Elliott Corrective Waves) and has nothing to do with the start of a new bull market. A new bull market will start when most people have forgotten about cryptos and want nothing to do with them. That's what a bottom is - a period in time where there is close to no interest in the given asset class (see: BTC 2015 - 2016).
I see the start of the new bottom at around 2021 - the start of a new bullrun in around 2023.
Many people (mostly those who are emotionally bonded to BTC or want to get rich asap) see this theory as impossible or call it the death of Bitcoin - just like the last time Bitcoin went through a bubble in 2014 and did almost a 90% retrace. To me this is a normal thing to happen in cryptos so I would not worry, quite the contrary. The faster we reach the bottom the faster it will recover.
Good luck to everyone involved!
WDAY Top Hits Weak Support LevelWDAY topped on the short-term trend, but it is bouncing off of weaker support from money highs in 2018. WDAY remains at risk for more downside slip slide action, until it enters the Platform candlestick pattern formation from 2018. That support level offers stronger support due to a prior Dark Pool Buy Zone™ with minimal accumulation.
TTWO Platform CompressionPlatform trendline patterns usually form on the upside trend due to Dark Pool Quiet Accumulation, as the giant Buy Side Institutions control their entry price. This Platform formed on the downside, but it is in a compression at this time to test the highs of the sideways action.
CSX Bottoming FormationCSX is in a bottoming formation with higher lows but consistent highs within the bottoming action. The candlesticks are now in a common compression mode with moderate volume supporting upside action.
DAX30 CFD to reach new All-Time Highs for Christmas?After last Thursday's developments in the US-Chinese trade deal, the UK's general election, and the Fed's liquidity announcement, the outlook for the DAX30 CFD is very bright as we start the trading week.
The main driver for the bullish action, and the ensuing break above 13,180/200 points resulting in new yearly highs, was certainly the "deal" between the US and China where both sides are said to have agreed on a reduction on existing tariffs, and a delay in those planned to go into effect on December 15.
In addition to this, there was the landslide victory of UK prime minister Johnson's Tories in the General election which made a near-term Brexit deal likely and diminished uncertainties among market participants, as well as the Fed's announcement that it will flood markets with $500 Billion in liquidity to avoid a year-end repo crisis (and will thus extend the Fed balance sheet to new record highs by mid-January).
That said, we project a bullish DAX30 CFD for the yearly close, with a high likelihood of new all-time highs and thus a push to and above 13,600 points in the coming days.
A short-term correction finds a potential Long trigger in the region around 13,280/300 points and a littler deeper around 13,180/200 points, with the mode staying bullish on an Hourly time-frame above 13,080/100 points.
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MU Forms Symmetrical TriangleA short-term triangle is underway for MU as it hits heavy resistance from previous monthly highs. The candlestick patterns are indecisive.
AMD Breaks to UpsideAMD has confirmed its breakout to test the previous yearly highs of 2000 and 2006. These highs are very strong resistance.
GBP/JPY ACCUMULATING POWERGBP/JPY has been stuck in a range of almost 200 pips for a month now. My view on this pair is a potentiall downside break of the box to come make the retracement and retest the september highs.
#tradesafe
INTC Set to Challenge Previous HighsINTC gapped and ran up on earnings. Professional Traders are setting up ahead of the test of the previous highs.
CAT Breakout to New HighsBoosted by Buybacks, CAT recently ran upward to break out of its long-term Trading Range.
SFIX returns!Very promising pattern here, if it's able to maintain 22 and show consistent gains it will head towards 28. It would be a great goal to get to around 32, longer term trade on this one still waiting for a small pullback and confirmation of this new high.
BIDU Bottom LagsBIDU has been in a bear business cycle since early 2018. This downtrend remains intact as the slope of the highs remains downward. High Frequency Traders gapped the stock down recently.
UTX in Long-Term Trading RangeAlthough many Dow 30 components had a severe sell-down in December 2018, most have not gone up further than the previous highs. UTX is such a stock. It has now officially been range-bound for over a year, as it was range-bound before the December collapse.
NKE Compression Pattern Near Highs of the Trading RangeNKE shows price has compressed into a tighter candlestick pattern formation near the highs of its long-term trading range pattern. The compression has minor Dark Pool Quiet Rotation™.
PEP Breaks to the UpsidePEP has breached the resistance highs to move slightly up to a new all-time high. PEP is one of the few Index Components that has a new high at the end of August. PEP must now hold on to these gains and not slip back down into the Trading Range. Early September price action will define whether this breakout holds.
Experian Backtesting BreakoutIf this backtest holds then it should create the foundation for a larger move to highs
BTC DOMINANCE AT KEY LEVELS FROM 2017 DECEMBER...This could be a key area for Bitcoin and it's dominance. Last time we had it this high was before the alt-season rally of 2017. If that was to repeat. The amount of gains in the alt-coins would be pretty large as a lot of alt-coins are at pre-2017 levels.
How to find the right price SUPPORTS and RESISTANCESPrice breakout happens! Now what?
As we all know supports and resistances are the key levels where the price stops, turns or does some floating before making the next big move.
Usually, the challenge is to find the right ones where those kind of events will happen.
You can see clearly from the graph that there are some key indications to take into consideration and so you can find the relevant ones:
- Previous highs/lows
- Fibonacci levels
- Highest volumes
As we all know previous resistance becomes the next support.
btw: What would you say the next short term BTC support and resistance are?
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S&P 500 Finally Making New Highs!Last post: July 3rd 2019. See chart .
Review: Price had created new highs but could have moved back below support.
Update: Price has since continued to move even higher.
Conclusion: Price is making new all-time highs and we may see the start of the next bull trend. We will now look for long opportunities in stocks.
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