Patience
History repeats.. Or something like that right?Back tested all gap fills from November 2016 that were below $5 (chart was too distorted if I used the gap fills in the $15's. Target is anywhere from $2-$5 by end of year.
NXTBTC maybe a long opportunityI think if NXT can climb up the daily green ichimoku cloud it would be a sign of strength and possibly the start of a new impulsion. Wouldn't buy in the retracement zone because of recent blood baths across the map of crypto world. Patience and look for signs of strength!
Happy trading,
T
SHORT 81% of traders are currently short on the SP500!According to www.dailyfx.com market sentiment tool a staggering 81% of traders are holding net short positions on the SP500.
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Now I understand that roughly about the same percentage of traders don't make money and maybe that's why the SP500 has been making new highs lately?
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As always, I present you with my technical view of the market and then you can decide.
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Looking at the monthly charts it's fairly easy to say were due for a correction, but "when" is the key here. So I'll start with the 2 day chart.
A close look at the most recent impulse compared to the last impulse. They are almost identical in range...almost. Singularity presents itself directly at the WEEKLY -270. Spotted at 2423. Only 9 points away!
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The normal daily interval is showing us massive divergence on the MACD
Same with 4 hour
Same with 1 hour
And the weekly chart shows the same divergence with a 5 wave count.
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Price has been stalling just under 2400 for quite some time. And we saw a quick sell off just last week which recovered to new high's just as fast. Historically, before sell offs we normally see some irregular price action like this.
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Go back to 2008, we see price correcting not steadily climbing as before! It does this for around 148 days before the sell off in December.
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Rewind to 2000, right before the crash.
We see price stalling for around 157 days and selling off sharply in October.
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And then there was 1987
This thing didn't give much of a warning. Perhaps it was a time where less market manipulation took place? But we can see the sell off came around the end of of October.
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Drawing from current technical analysis and historical data we may see some shit going down by the end of the year. Be patient and don't try and pick a top people! Just look at the charts from 1987, 2000 and 2008. I can see a few places for perfect entries AFTER a sell off was already confirmed and price really wasn't too far away from the top anyway.
Bottom line : The crowd is right, but they got to the party early and the music hasn't even started yet so its kinda awkward.
Incoming AUDNZD Long OpportunityThere are a ton of people buying AUDNZD right now. I'm not convinced it's time for the reversal juuust yet. I have a small buy limit sitting at 1.03900. That's the Fibonacci extension point from the original drop, a trendline point on the weekly chart, and a strong supply zone.
USDJPY Weekly Outlook | Seller Territory? |As we can see here on USD/JPY There's not really obvious trendlines so i'm playing pure price action here so the market already turn into seller's territory the price is keeping "breaching" so the next level is at yellow-ish horizontal line but that not scratch the possibility that the price can turn into buy territoty so watch out and happy trading (and one thing our price bounce off from 50% fibb retrace and probably gonna challenge 68,2% level and eventually a reversal)). i'll keep you updated if there any channel or range in play so like and follow and you won't miss a thing.
DailyFx Forecast
Trend is down
Volatility 25%
The news
USD is netral
JPY is Bearish
Gold - The big pictureScenario 1:
Breakout above 1,265 USD and bull run towards 1,300 USD.
Then consolidation between 200 MA and 1,300 USD
Scenario 2:
Consolidation around the 200MA until early summer.
Then breakout.
Scenario 3:
Another deep pullback within the triangle.
Breakout above 1,265 USD later in the summer.
S&P500 might set up for a short At this point, we are looking for price action to retrace back to 2350.00 after the downthrust that took place across the board in major indexes.
IF the price retraces to a more faborable level, we can look for a short entry that meets our trading plan's entry criteria for the S&P500.
The key word for this opportunity is patience since we want it to set up for a short and not hop on board before it does set-up.
EURNZD - Wait for pullback to SupplyW
Downtrend. Weekly Supply formed overhead. Lots of room to run to Weekly Demand.
D
Downtrend. Price hanging out in the tested Daily Demand area (which was a reaction to a Daily level to the left). Don't expect level to hold.
240/480
You can see a little SZ which I didn't catch, that would have presented a nice sell opportunity. Next opportunity is above and is the focus of this set-up.
US2000: Tremendous 15 Consecutive Day Rally I have not been able to find any conclusive data regarding whether or not this rally has been all time record for the Russell 2000 Index. Investor confidence has soared to all time highs via 3 week rally. Although I am glad to see this rise occur, I do not seem to understand the logical or fundamental justification for it. How much longer can the Stock Market ignore the carnage in the Bond Market? Because interest rates have been so low for so long, I believe that an increase in rates at this time, a time when the market has been relatively stagnant for over a couple years, will have a strong deflationary effect on the Stock Market. This December, when the Federal Reserve Hikes interest rates, we will see whether this rally has been a genuine reflection of the supposed US recovery, or if it has simply been an impulsive pump after the election of Donald Trump. Please do not hesitate to leave your thoughts.