USD/CAD bullish bias still remain strong...We took a small break from posting our trading analysis but we are back to share some more of our trading ideas.
USD/CAD here is still looking very strong with the potential to break out into new monthly highs. 1.3200 is a possibility heading into next month. 1.3400 would be a long term profit taking zone.
Always follow your trading plan regarding entry, risk management, and trade management. The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations.
Strength
DOLLAR CURRENCY INDEXThe DXY (Dollar currency index recently reached its recent major supply zone (resistance).
Currently ranging within the zone, many traders have had much anticipation for its drop in previous minor zones.
This may be the right time for that pull back.
If the pullback does come, the weakness in the dollar will see USDXXX pairs tank and XXXUSD pairs push up.
Fingers crossed for GBPUSD
CSIQ - Clean & Renewable energy themeMaking breakout from pennant consolidation, volume behaving nicely. Clean&Renewable Energy showing signs of strength big time.
You don't need to know what's going to happen next to make money ~Mark Douglas
Lose like a pro and keep trading, or lose like a novice and quit ~Mark Ritchie
GBPUSD: BEARISH DECENDING TRIANGLE 🔻BIAS: BEARISH 🔻
TECHNICAL PROJECTION: BEARISH
On the H4, we have a bearish bias that price will retest "B" & "D" area and to continue further bearish to 1.18700 target to complete its "e wave" from the bearish descending triangle pattern.
FUNDAMENTAL PROJECTION: BEARISH
DXY STRENGTH: Market could be pricing further 75bps hike tightening to come & balance sheet reduction to continue at $60b & $35mbs over the three month timeframe.
XAUUSD: BEARISH EXPANDING TRIANGLE 🔻 XAUUSD: BEARISH EXPANDING TRIANGLE 🔻
BIAS: BEARISH 🔻
TECHNICAL PROJECTION: BEARISH
On the H4, we have a bearish bias that price will retest "B" & "D" area and to continue further bearish to 1787 target & lower to complete its "e wave" from the bearish descending expanding triangle pattern.
FUNDAMENTAL PROJECTION: BEARISH
FURTHER DXY STRENGTH: Market could be pricing further 75bps hike tightening to come & balance sheet reduction to continue at $60b & $35mbs over the three month timeframe.
AMAZON on a boost. Won't reach the split price though.I have tested this 6 different ways and included my new "Mass EFX moving averages" indicator.
All I'm seeing is that $amazon is on a rise rightnow since June 17th @ 11:30 pm Central ime.
It will continue to rise to $109.00 and maybe a spike to $112 00
Current price 8s $106.xx
Stoploss = 104.03
Entry 106.16
According to my rsi formula:
Exit = $110.37 (after move momentum expires)
Safe exit is $109.99
Business banks trade in whole numbers, let's move to the closest whole dollar (110.00)
This is a 3.5% move
$HUSAHouston American Energy Corp., an independent energy company, acquires, explores for, develops, and produces natural gas, crude oil, and condensate. Its oil and gas properties are located primarily in the Texas Permian Basin, the onshore Texas and Louisiana Gulf Coast region, and in the South American country of Colombia. As of December 31, 2020, the company owned interests in four gross wells. Houston American Energy Corp. was incorporated in 2001 and is based in Houston, Texas.
$GMTX (SPACs) Description: Gemini Therapeutics, Inc., a clinical stage precision medicine company, engages in developing various therapeutic compounds for treating genetically defined age-related macular degeneration (AMD) and linked ocular disorders. Its lead candidate is GEM103, a recombinant form of the human complement factor H protein that is in a Phase 2a trials in dry AMD patients with a complement factor H protein risk variant. The company was founded in 2015 and is based in Cambridge, Massachusetts.
Industry: Biotechnology
Swipe (SXP) Buy ZoneSwipe (SXP) Buy Zone
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BIAS
Mid-Term : Neutral
Long-Term : Bullish
Risk : Medium
Swipe has become mid-term neutral as it retested its $1.2 zone and rejected them with recent strength. This means we have to wait for further price action confirmation, which will determine SXP’s next significant move.
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$SXP/USDT LONG SETUP
Leverage : x3 - x5
Entry Price : 1.15 - 1.23
TP 1 : 1.275
TP 2 : 1.375
TP 3 : 1.46
TP 4 : 1.53
TP 5 : 1.6
TP 6 : 1.705
TP 7 : 1.765
TP 8 : 1.83
Stop Loss : 1.05
*Maximum 3% of Portfolio.
*Unload 12.5% at each TP. Whenever TP 2 hits, Move stop loss to entry.
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General lesson + BTC and ETH showing strength Analysis:
BTC bounced off RSI support and is now at a resistance level, ETH and global markets like DOW also jump and showing strength. If BTC hold this level and give breakout many alts will jump 20-25% in the next 2 weeks. Reason for todays bounce back could be Amazons announcement of their Q4 earnings, making their stock rise 17% a day after META dropped, the biggest single day gain in US stock market history.
Lesson part:
BTC dominance has been steadily decreasing but is up a little bit in the last hour or so, and the total market cap is moving up. What does this mean?
If we look at the following rule below we can make predictions on alts on the market direction.
BTC D up + Mcap up = Good for all coins
BTC D up + Mcap down = Good for BTC but bad for alts
BTC D down + Mcap up = Very good for alts
BTC D down + Mcap down = Very bad for btc and alts
Use this rule accordingly.
Trade safely:)
- Seb
$DWAC Target PTs 100-130 and higherTrump's TRUTH Social platform is now expected to launch by March 31 versus previously announced launch date of February 21
$BFRI Next Target PT 10 and higherBiofrontera Inc., a biopharmaceutical company, engages in the commercialization of pharmaceutical products for the treatment of dermatological conditions in the United States. The company offers Ameluz, which is a prescription drug approved for use in combination with the company's licensor's medical device; and the RhodoLED lamp series for photodynamic therapy for the lesion-directed and field-directed treatment of actinic keratosis of mild-to-moderate severity on the face and scalp. It also Xepi, a prescription cream for the treatment of impetigo. The company was incorporated in 2015 and is headquartered in Woburn, Massachusetts.
$MMAT Next Target PT 2.30 and higherMeta Materials Inc., a smart materials and photonics company, invents, designs, develops, and manufactures various functional materials and nanocomposites. The company's products include metaAIR, a laser glare protection eyewear; NANOWEB, a revolutionary transparent conductive film; and holoOPTIX, a holographic optical component. Its products include aerospace and defense, automotive, consumer electronics, energy, and medical applications. The company is headquartered in Dartmouth, Canada.
$ENSC entry PT 1.25-1.50 Target PTs 6-7 and higherEnsysce Biosciences shares are trading higher after Zacks Small-Cap Research set a $23 valuation on the stock.
Ensysce Biosciences, Inc., a clinical-stage biotech company, engages in developing various prescription drugs. The company is developing tamper-proof opioids using Trypsin Activated Abuse Protection and Multi-Pill Abuse Resistance platforms. Its products treat severe pain and assist in preventing deaths caused by opioid abuse. The company is headquartered in La Jolla, California.
Cyclical Characteristics of Market Performance IndicatorsFrom "Cyclical Characteristics of Performance Indicators", IFTA Journal 2020.
"Linear Momentum and Performance Indicators", IFTA Journal 2019.
Indicators
Integral Force Index (Linear Momentum Index)
Integral Pressure Index
Integral Strength Index
Phase 4
It is not necessary that price levels increase till the end of the phase.
* This technique blends the market adjusted momentum, market pressure, market strength and time cycles.
Akram
$SBEV entry PTs 3.25-3.40 Next Target PT 5Splash Beverage Group, Inc. produces, distributes, and markets various beverages in the United States. The company offers hydration and recovery isotonic sport drink under the TapouT Performance brand; and flavored tequilas under the SALT Naturally Flavored Tequila brand. It also sells beverages and groceries online through qplash.com; produces premium wine under the Copa di Vino brand; and offers premium Pulpoloco Sangria. The company is based in Fort Lauderdale, Florida.
What is going on with USD?I am more and more confused, US Treasury rates continue to go up and the FED is accelerating tightening.
The market on the other hand did already price in 3 to 4 rate hikes for this year. And yet, USD still is weakening across the board.
EURUSD showed a 'fake? breakout' over the 1.14 level and formed a HTF bearish flag pattern but seems to struggle to form a bearish continuation pattern around the 1.133 level.
USDCAD is trading below 1.25, the recent rise in Oil prices surely helped the CAD; and more and more tensions in the Gulf area and the Ukraine could help to push the pair lower.
USDJPY came down almost 300 pips from it's recent high and is now trapped in a HTF bear flag, which could potentially form an expanding structure.
GBPUSD made peak outside the HTF downtrend, fell back into it and is now struggling to form a bearish continuation pattern. It even looks like it is forming an upward reversal.
Why do all the major USD pairs technically lean to the bearish side despite the FED showing by far the most aggressive stance towards rate hikes?
I still have a bullish bias on the USD for the near future and hope to find some good technical entries to follow my bias.
Let me know what you think about the future of the USD in the comments.
$SOFISoFi Technologies, Inc. company announced that the OCC and the Federal Reserve approved its applications to become a Bank Holding Company through its proposed acquisition of Golden Pacific Bancorp and operate its bank subsidiary as SoFi Bank, National Assoc
Acquisition expected to close in February, Morgan Stanley Maintains Overweight price target 20, Rosenblatt Maintains Buy price target 28
SoFi Receives Regulatory Approval to Become a National Bank
SAN FRANCISCO, January 18, 2022--(BUSINESS WIRE)--SoFi Technologies, Inc. ("SoFi"), the digital personal finance company, today announced that the Office of the Comptroller of the Currency (OCC) and the Federal Reserve have approved its applications to become a Bank Holding Company through its proposed acquisition of Golden Pacific Bancorp, Inc., and operate its bank subsidiary as SoFi Bank, National Association. SoFi expects the acquisition to close in February, subject to completion or waiver of the remaining customary closing conditions.
"This incredible milestone elevates our ability to help even more people get their money right and realize their ambitions," said Anthony Noto, CEO of SoFi. "With a national bank charter, not only will we be able to lend at even more competitive interest rates and provide our members with high-yielding interest in checking and savings, it will also enhance our financial products and services to ensure they efficiently meet the needs of our members, business partners, and communities across the country, while continuing to uphold a high bar of regulatory standards and compliance. This important step allows us to add to our broad suite of financial products and services to better be there for our members during the major financial moments in their lives and all of the moments in between. I’m incredibly proud of our team and excited about the opportunities ahead to help even more people achieve financial independence."
Last year, in a key strategic step in SoFi’s path to obtaining a national bank charter, the company announced a definitive agreement by its subsidiary Social Finance, Inc. to acquire Golden Pacific Bancorp, Inc. (OTCPK: GPBI) and its wholly owned subsidiary Golden Pacific Bank, N.A. (together, "GPB"). SoFi plans to contribute $750 million in capital and pursue its national, digital business plan while maintaining GPB’s community bank business and footprint, including GPB’s current three physical branches. At the time of the announcement, SoFi submitted a revised business plan for GPB to the OCC and an application to become a bank holding company and for a change of control to the Federal Reserve for approval. After completing the acquisition of GPB, SoFi Technologies, Inc. (NASDAQ: SoFi) will become the parent company of SoFi Bank, National Association.
About SoFi
SoFi helps people achieve financial independence to realize their ambitions. Our products for borrowing, saving, spending, investing and protecting give our nearly three million members fast access to tools to get their money right. SoFi membership comes with the key essentials for getting ahead, including career advisors and connection to a thriving community of like-minded, ambitious people. SoFi is also the naming rights partner of SoFi Stadium, home of the Los Angeles Chargers and the Los Angeles Rams. For more information, visit SoFi.com or download our iOS and Android apps.
$DWAC Digital World Acquisition Corp. does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses in the technology, SaaS, fintech, or financial services sector in the Americas. The company was incorporated in 2020 and is based in Miami, Florida.
$PIK – SI 80%Kidpik Corp. operates as a subscription-based e-commerce company that retails girls' and boys' apparel, footwear, and accessories. It offers apparel, including tops, bottoms, cardigans, jackets, dresses, and swimwear in knit and woven fabrication; shoes, such as sneakers, boots, sandals, and dress shoes; and accessories comprising sunglasses, jewelry, bags, socks, hats, and hair goods. The company serves its customers through its retail website, kidpik.com; and clothing subscription boxes, which provide mix-&-match coordinated outfits that are personalized based on each member's preferences. Kidpik Corp. was incorporated in 2015 and is based in New York, New York.
$RELI – SI 46% SYMMETRICAL TRIANGLEReliance Global Group, Inc. engages in the acquisition and management of wholesale and retail insurance agencies in the United States. It provides healthcare and Medicare, personal and commercial, trucking and transportation, and employee benefits insurance products. The company was formerly known as Ethos Media Network, Inc. and changed its name to Reliance Global Group, Inc. in October 2018. Reliance Global Group, Inc. was incorporated in 2013 and is headquartered in Lakewood, New Jersey.
$ATXI entry 1.35-1.45 Target PT 5-7-11 and higherAvenue Therapeutics, Inc., a specialty pharmaceutical company, acquires, licenses, develops, and commercializes products primarily for use in the acute/intensive care hospital setting. Its product candidate is intravenous Tramadol, which is in Phase III clinical trials to treat moderate to moderately severe post-operative pain. The company was incorporated in 2015 and is based in New York, New York.