Profits
$MGI Printing on this textbook breakoutOriginal idea posted in NOV at $5.74 up over 60% now , approached nice demand zone and has been running ever since.
Beautiful breakout here, move stops and lock in profits. Approaching overbought on the daily but I think there is a magnet on $10
Let's see if we get a May like move, this one can run
21/12/28 - Gold started its next bearish impulse Hey Trader,
please see my latest idea on Gold. We finally hit our target from our longs and based on the current price action I am confident with my second scenario for the midterm Gold cycle.
I am very confident that we will see prices way above 2000 Dollars, but before that I am expecting 1750 - 1640 area first in order to grab the liquidity we need for the last wave 5 in Gold in order to hit new all time high's.
I entered my short positions based on the knowledge that wave 2 needs to retrace at least 50% of the first impulse. As I saw this 3 waves pattern building up I decided to not wait and enter there in order to hold my short swing for midterm.
Please keep in mind: This idea represents just my opinion and my technical expertise.
I am open for feedback if its constructive and reasonable. Let me know what you think
For further informations please see below.
RT
DXY CAPITULATION PENDING A WEEKLY CLOSEAfternoon people,
Thanks for taking the time to check out my Technical analysis, much appreciated. Constructive comments are always encouraged.
DXY has enjoyed a lot of strength in recent weeks, strangely baffling seeing as since 2020 the supply of USD has increased by 30%+. There is now more Dollars in existence than have ever been, yet according to recent strength it would seem people still trust the Dollar. It seems like a recipe for disaster if you ask me. The dollar is weak, it has been since Nixon unpegged it from the Gold Standard, thus sealing its fate as a fiat currency. History shows us how it ends for "world reserve currencies", the cycle is around every 100 years. Guess how long the Dollar has been in power for ;)
Price attempted to breakout to the upside last week, completing the impulsive move from 94.56 to 96. However the .5 fib held and sellers stepped in causing a considerably big wick. Indicating buyers are struggling to break through the fibonacci levels that are acting as resistance. we closed with a huge wick on the weekly. I'm now waiting for a weekly close below the aforementioned levels to indicate a continuation to the downside. This adds further confluence to my idea posted earlier in regards to Bitcoin. It would seem Bitcoin has found its bottom and we should now be expecting Bitcoin to start moving towards my 233K targets.
Once DXY starts collapsing, the downside targets at the D ext. are 86 & 82 respectively.
It is my belief that we will be seeing the Dollar collapse as Bitcoin goes on its parabolic blow off top phase of the market cycle (something we haven't seen yet).
Regardless of how far Bitcoin goes, it needs a DXY collapse to do so. Similar to 2017. So far Bitcoin is inversely correlated with DXY. Observed today we can see weakness in the DXY has led to Bitcoins price rising and therefore the rest of the crypto market across the board. This is just the beginning. Don't be disillusioned, when Bitcoin does pullback, which it will. This will be a great buying opportunity. Be patient & ENJOY the show.
Remember to take profits as you go and scale out. We don't need to pick tops. No one ever went broke taking profits.
Happy trading,
Big Love
XAU USD 1783 to 1794After identifying strong structure on the 1 hour & 4 hour charts and seeing rejections in those timeframes
I decided that a possible scalp for longs would suffice as todays news was also quite neutral and did not have a large impact on gold.
With the green line representing 1-4 hour support levels, I identified key rejections on the 15 & 30 minute charts and entered longs with profits below the previous trade I’ve posted. Furthermore, high consolidation at 1788 after a strong push upwards from 1783 allowed me to get a key entry in the following trades. The consolidation tied together with DXY (dollar index) therefore drove my decision with continuing long.
Entry: 1783 TP: 1785
1788 —> 1790.88
1790 —> 1792.68
Why are my profit intervals so short?
- I keep my stops always above entry so that I can ensure profits while trading.
While I could have taken possibly 100-120 pips total, the first 2 entries were stopped but in overall profit. I would much rather ensure my investments stability and longevity through consistent growth over time.
A total of 60-65 pips were obtained @ 12-1am EST.
GoPro - Grab yourself a HERO10 with the PROFITSI read a post on tradingview talking about gopro awhile back, and I read a lot of good things. So much so, that I bought two gopro's for myself. The software was a little buggy, and the camera would overheat sometimes, but wow, it took some incredible shots. The motion stabilization technology they have makes for some insane shots. I've been watching this stock for awhile and I think it's gearing up for another run-up.
I've marked some key prices to watch for, but I really think we'll see this stock around $17 in Feb/March. I couldn't figure out how to explain what I was seeing in words, so I drew it out on the chart.
Anyone else seeing this possible run-up for gopro?? I think I'm getting ready to grab some options.
RUNE to outpace BTC by 6xLooking at RUNE/BTC on the daily we can see that since launch, RUNE has been steadily outpacing BTC through several upswings followed by minor correction and accumulation phases. These accumulation phases have lasted between ~100 and 150 days, the last three of which had RSI similar values before the next euphoric upswing. Today, RUNE sits at a similar RSI value and is around 140 days into its current accumulation phase and the MACD is turning bullish.
RUNE is poised to explode! Judging by its fairly consistent previous rallies, this baby can do an 6x multiplier against BTC in the next months!