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This just to kind open up your mind, not really saying anythingThe impending storm is brewing and to predict its intensity accurately, one must be daring with their forecasts. While there might be a temporary dip in the market, I remain steadfast in my long-term outlook, anticipating a subsequent rise. This situation could present a lucrative opportunity to encourage more people to invest, leading to potential short-selling activities that a government may find prudent to regulate. If engaging in short-selling, it is crucial to have a robust risk management strategy in place, including setting up stop-loss (SL) and take-profit (TP) points meticulously.
Long
by MCMGAnalysis
40K is the level to claim for Bullrun confirmation - learn whyHi all, just take a look at previous bullruns and draw a line 40% from the bull run top. That is more or less the level that needs to be claimed before speaking of a bull run. But, what you also see is a retracement at first touch of approx 30-60% in previous runs. This leads me to think that we can now easily see a run up to 40K and then seeing a retracement back to these levels of 29/30K before going claiming the 40K level and upwards into bullrun territorium. So don't be fooled that going to 40K with an ETF approval is confirmation of a bull run.. it won't be! It will be perfect fuel to kill longs, and the big boys to go shopping at 30K before a real bull-run is starting.
BITSTAMP:BTCUSD
by WHEN1110011
Ways to improve your chart reading Part 2 – Multiple timeframesThe bigger the timeframe is, the bigger the move it may produce. Therefore, it can be good practice to define the direction of the price and your trading based on where and how things develop on higher timeframes. Another reason to use timeframes with bigger resolutions for the confirmation of your decisions is that a trade setup on one particular timeframe is isolated from a bigger move and may appear while that move is at the end of its correction. For example, it might be that a higher timeframe shows a lot of supply (selling) in the background while lower timeframes show the presence of demand (buying). Usually, in these situations an up move will not continue for a long time and may eventually reverse, locking the trader into a bad position. The 1-hour chart in the picture shows the US dollar/Japanese Yen FOREX currency pair. (FXCM:USDJPY). Wide range bars appear at 15:00 on March 7th, at 15:00 on March 8th and at 02:00 on March 10th, UTC time. According to the VSA methodology, the volume on those bars and their closing prices indicate the presence of supply (weakness). At the same time, the price goes up for some time after each of these three bars. As a result, many traders who are using the 1, 3 and 5-minute charts, where the trend is up, open long intraday positions. With serious weakness in the background as seen in the picture above - when the smart money is selling - the price will usually not go up far and turns down very quickly producing a significant move. This gives the trader the chance to make a nice profit on small timeframes. An example of this kind of opportunity might be seen when an up bar on the 1-minute chart gets closed with low volume at 14:22 on March 10. As in our chart example where it has taken almost 3 days to provide a good setup to the short side, very often it may take time for the trade pre-conditions to develop on different timeframes. An ability to wait until a setup on a lower timeframe is aligned with the strength and weakness of the bigger moves is another good habit to develop. In many cases using a multi-timeframe environment, as well as being patient, helps a trader to avoid losses and improve their profit.
by Trade-to-Win_from_Tradeguider
UPDATE: MEDIUM TERM OUTLOOK ON THE DOLLARWhat's up trading world! Hope you have been well & taking care of yourself in these uncertain economic times! I am back with another DOLLAR INDEX update, now I did say I would update at the end of June however, with 1st July being a Friday, I wanted to observe how the market plays out so I could give a move comprehensive update! UPDATE: 1. Bearing my previous post in mind, we saw the dollar shoot upwards and this was due to the biggest interest rate hike by the Fed since 1994. Monkeypox cases have also remained small in number which has only boosted the dollar even more. 2. As a result of the above, we saw pattern ABC play out in June (see previous post) where point 'B' illustrated opportunities for optimal buy-entries and these signals were shared with my private community and we were able to have a lovely 1:4 risk-reward trade (+420pips) that smashed through relevant targets! MOVING FORWARD: 1. The dollar doesn't plan on slowing down anytime soon, we will definitely be expecting a rate hike again in July, it is the only way to crumb the inflation and do a hard reset on the debt the US has accumulated. 2. Barring covid & monkeypox cases remaining below 10K per/day, the dollar will continue to soar as commodities continue their much-needed reset. 3. Unemployment (NFP) numbers coming this week will also be a key indicator and although we expect it to be higher than last month, should there be a drop, I don't believe the drop will be extensive enough to stop the dollar's rally. Technical analysis: 1. For optimal BUY-entry opportunities moving forward, wait for pattern ABC to play out, with point-B signalling entry point for buy-trades however, given the strength of the dollar, it might not even retest our daily support but rather continue going up due to strong fundamentals & key institutional traders trade-positions that are pushing the market right now. 2. Whether there is a RETEST or not of our daily-support zone, should the above 'moving forward' conditions happen, expect the DOLLAR index to make its way to $108, a price level it hasn't reached in almost 20 years!! Thanks for reading! Let's take advantage of the markets together! These are generational wealth times that we are living in, don't let them pass you by! :))
TVC:DXYLong
by No-NonsenseFX_
MEDIUM TERM OUTLOOK ON THE DOLLARFor the longest time, I have been debating whether or not to begin posting my trading sentiments since the trading community I look after & am a part of is a very private one. That said. we are in unprecedented times, a lot of people do not know what is coming their way. nevermind how to protect themselves/ take advantage of relevant opportunities. So I have decided to help those who are looking to understand financial markets not only from a trading perspective but from an actual investing perspective. So as my first post, let's take a look at a currency that impacts the rest of the global & emerging market currencies & that can help you plan your trading approach over the next 3 - 6 months. But before we do that kindly understand the following: As a former investment bank trading analyst. There is absolutely noway you can incorporate technical analysis without fundamental analysis. When I see retail traders/people just speak about technical analysis and understand nothing about fundamental dynamics & how it affects trading pairs/executions/decisions as a whole, not only do I laugh but it also makes me understand why there is truly only 5-10% of retail traders globally that are consistently profitable. But enough about that, let's get to the charts! DOLLAR INDEX OUTLOOK: Fundamental ( DOWNSIDE ): If another rate hike takes place & MONKEYPOX cases cross the 10K margin in the US &/or employment numbers (NFP) drop. Technical ( DOWNSIDE ): Should the above fundamental case happen, trading opportunities can be taken advantage of through the WXY scenario, where X represents the entry-point. Fundamental ( UPSIDE ): A rate hike & more stimulus money will see the dollar go up. Mid-term elections being favourable would also send the dollar much higher. Technical (UPSIDE ): The above fundamentals taking place would allow scenario ABC to take effect with point B representing the optimal entry-point for relevant trades. Let us see how it plays out, as for exact entry points and iterations to this post as time goes on, that will be given to members only. However, that said, I am willing to do analysis on different pairs/derivatives' on behalf of those who would appreciate an informed opinion on both the technical and fundamental sides. At the end of the day I want to see traders progressing and doing much better but the truth is you need to understand the markets from a technical & fundamental perspective in order to truly be successful as a trader & ultimately become an active investor in financial markets. If all you have been doing at this point in time is trading only incorporating technical analysis then all you are/have been doing is donating money to the market, your broker/s and my former employers in the investment banking/hedge fun world. :) Don't forget to like & comment, I look forward to beginning this new journey with all of you!! :)))
INDEX:DXY
by No-NonsenseFX_
Gold 4-Hour Channel Breakout Hits TargetOur 4-Hour channel Breakout from a few days ago has reached its target. The target was the bottom of the beginning of the channel. However, we had no retrace to the neck zone, so we had no entry. I am a breakout and retrace trader, and if I see no retrace to the point of interest, I will not take a position. My thoughts on Gold now is that if support does hold around the 1782 mark, we should begin ranging in short to mid-term between support and 1810. Let’s watch and see what it does. I will be watching as always, and should a setup present itself; I will be posting it. Happy Monday!
OANDA:XAUUSD
by TheVortexTrader
2
um ya surei don't even really know what to say besides start buying i mean dont go all in all at once but like, buy this mf now lol hummed up to ath like it was no business, fell back to 100 like a feather. the other two are chipping away at each other but good ol' bronze ltc is happily defending 100. safely speaking, you could see some $80 flirtation but like, just buy it and don't look back. I keep trying to think of something insightful or clever but nah man just buy that. you can even see on the far right i just drew lines cause it's that obvious. it's f*ckin litecoin, man. the thing just slaps and I love it. take it here or any lower. your levels (both targets and your "fill-your-pants" levels) are 125(ish) 137(ish) 144(ish) and just so i'm not getting ahead of myself I'll refrain final target to 177(ish)
Long
by BingoMoney