Bitcoin Weakness, One More Sell-Off?Let's face it, the volume isn't there. Retail buyers are broke, many die-hard crypto fans have been destroyed and the LUNA and FTX melt-downs absolutely killed sentiment and damaged the industry beyond any short-term repair.
Hash-rate is falling miners are going broke and bankrupt and retail credit card debt is at an all-time high.
I was looking for a pre-Christmas bull-trap, but we couldn't get the volume on the FOMC news of slowing tapering, nothing will do it now.
Big volume void between here and $10K...
Looking for that $9k-$10K entry to at least sell the bounce and be gone...
Selloff
USDCAD Trading In Wave 5 PhasePrice is trading in a short term downtrend on the 4hour to 1hour timeframe. We are in an impulse phase, in this case we have waves 1,2,3,4 and waiting for wave 5 completion which can offer a last wave sell-off. Its safe to say the dollar will be weak for the next few days.
GBPAUD END OF WEEK SHORT TRADE IDEA!Multi time frame analysis of GBPAUD is pointing to a nice short area around the resistance of 1.78! The areas highlighted is a rough area of where I'm looking at taking a trade from, I do think we will see a downside move very soon even if its just short term... Good luck and have a fantastic weekend!!
EURCHF Bear Market Continuies / Wave 5 completionPrice has been trading really bearish on the EURCHF its safe to say we will continue in the downside direction. Wave 5 doesn't seem to be complete just yet so most likely we will make a new low to complete the 1-2-3-4-5 Elliott Wave Theory impulse move. Waves 1 and 4 are not overlapped allowing us to trade wave 5 confidently without prematurely stop-loss levels.
AUDUSD multi-timeframe analysis SHORTS After catching some short term upside, we have now made another long term move to the downside on the daily printing some nice bearish candles for the long term bears to step back in. Now Ill be positioning myself looking for any short openings to follow the continuation! Be safe around the fundamentals and as always risk appropriately!!!
USDCAD first SELL area 4 next leg down Looking at that continuation down as explained last week.. Price at the moment is creating at resistance area with price slowing down and rejecting. Price can push a little higher so I may just wait for the initial drop on the 1hr and then look for a small right shoulder..
$SPX to 2950I don't see a reason why $SPX could not sell off to 2950, which is a 100 MA on monthly chart. Got there in covid and much below in 2009 also. RSI is still high on monthly, and fisher transform indicator can go much lower. I'm just keeping an opened mind to possibilities. Let's hope it won't happen but there's not much reasoning for me to think otherwise.
GBPJPY SHORT TRADE IF 167.8 HOLDS RESISTANCE!!Looking for a short to start the week if we see further rejection from around the 167.8 resistance.. very early in the week with London session still to come, we may create some momentum from there so no rushing into any trades... 166 immediate target with eyes on 160 if that can break...
LRCX exposure to ChinaThe U.S. warning China it could face devastating sanctions if it defies the ban on doing business with Russia!
This is a move that could have huge impact on American companies.
30% of LRCX Lam Research Corporation revenue comes from China.
My price target for LRCX, considering the gap as well, is $385, but the buy area is even lower, around $345 i think.
Looking forward to read your opinion about this.
USDCAD is 1.38 going to be the reversal level!?! HUGE DOWNSIDEHave been watching very carefully around this resistance of 1.38 on USDCAD to see how price reacts. We have now had multiple rejections and another (FAKE?) push through followed by price quickly selling back off... we sometimes see these fake moves (breaking through levels) to catch the early sellers before the big moves happen... is this the situation with USDCAD?? I believe we have some downside coming, so like I explained I've got my eyes on a zone where if price fails it once more ill be opening a short for potentially a big move to the downside.
GBPJPY EXPECT TO SEE A REACTION TO 168 LEVEL!Price made the move I was expecting just never gave me a clear sign to enter after been stopped at breakeven the first time. We are running into a huge area of resistance now at 168.000 so I expect to see price slow down from here, so ill be hunting some short once again if we see the right formations from there.
FB Meta Platforms earnings todayIf you haven`t shorted FB at $341:
Look at the comments as well.
Then you should know that even Google`s YouTube was threatened by TikTok rise!
On the other hand a recent leaked documents claim lost control of user data from Facebook.
FB is closer to our buy area of $140-155.
Looking forward to read your opinion about it.
AUDUSD WAITING FOR THE NEXT SELL OFF!!Waiting for a bit of strength out of DXY to continue the overall direction on AUDUSD as AUSSIE dollar is showing no signs of life just yet. As you can see I've highlighted an area ill be looking for entry's off the resistance of 0.65. Price should make a move down even if its short term but hopefully we can catch the long term trend continuation!
EURJPY TRADE IDEA!Price rejecting the resistance of 142.000, so I'm looking for a push down to continue a downtrend. Don't really respect trendlines, its just there to give you and idea of the current direction... Always remember to risk manage first and leave your emotions aside, If price doesn't show rejection from the highlighted zone do not take entry's!!!
EURUSD SELL OFF COMING?!!?EURUSD I'm expecting to see another longer term push down to 0.95600 to continue long term trend as DXY bulls still in full control. Another failed push into my sell zone will be confirmation for me to enter shorts to at least take out 0.975 but hopefully back down to long term support at 0.956.
VIX and SP500 200 MA risk (PART-1)This weekend Bloomberg LP write “The #nyse Composite Index, which includes US stocks, depositary receipts and #realestate investment trusts, has broken multiple technical support levels including its 200-week moving average, the 14,000 mark. Now, accumulated losses could force #funds to sell more assets to raise cash, accelerating the selloff“ Well, #sp500 is testing 200-week moving average. This break has already occurred in the past, 1 in 2007 and then 2020 in the covid crisis, on both occasions a very similar event was repeated in the VIX index, in both cases when a break in the area above 30 points was consolidated, After several failed attacks, a rapid increase was observed that took the #vix from 30 to 80 points in 2008 and from 30 to 60 points in 2020. I know that it is hard for many portfolios this time, and that is why, I recommend buying VIX CALL options before this eventual scenario.
Good luck to all!!
Coming soon the second part. Where I will show the future BUY opportunity for the stock market
TVC:VIX CME_MINI:ES1! SP:SPX CAPITALCOM:US30 OANDA:SPX500USD AMEX:SPY