ridethepig | NZDUSD Market Commentary 2020.11.25📍 My dear readers, it is clear what we are trying to achieve here.... a protection of the highs / resistance with initial targets at our centre / pivot and extension targets below at support.
The control which belongs to buyers is blockaded and open to attack.
It is expensive to maintain the highs; this means that the necessary pullback when energy exhausts is all too easy to ride. It appears quite appropriate to consider the Dollar selloff exhausted and an advance in DXY via extreme risk-off flows as investors look for cover under the table.
Keeping a close eye on 0.70c as it turns out to be deceptive for buyers as the government is clearly feeling pressure from the RBNZ QE approach. Look to buy NZD but from cheaper levels, until then... looking to play the retrace lower.
Thanks as usual for keeping the feedback coming 👍 or 👎
Trump
CONFIRM SHORT SPY Okay, So again I would like to emphasis here that, If you all are thinking this is breakout , NO IT IS NOT!!!! Volume on spy today was less than yesterday's volume that means dead cat bounce.
Also comparing RSI with previous high and with such a move in day didn't gained much that means there was fight beat sellers and buyers.
Market on close was in Imbalance on sell side with 400Million it's small but still it was on sell side. This is just the beginning .... My first target here is 350 followed by 342.... if supports that we can see small reversal.
Trump's Odds Drop to 33%, Easy 3x in 1 Month?Trump was diagnosed with COVID last night. His betting odds have dropped to under 34% which means you could easily triple your money if he wins. Chances are high (99%) that he will survive the infection. And chances are also very high that he will win the election.
Many will say "look at the polls!" but as we know from the 2016 Wikileaks and election results, the polls are manipulated by oversampling democrats, and the mainstream media plays right into this bias:
"I also want to get your Atlas folks to recommend oversamples for our polling" wikileaks.org
"Hillary Clinton has an 85% chance to win." NYT. November 8th, 2016.
"Chance of winning: Hillary Clinton 71.4%. Donald Trump 28.6%." FiveThirtyEight. November 8th, 2016
"Clinton has 90 percent chance of winning" Reuters. November 7th, 2016.
"In the four way race, Clinton tops Trump by a 45-43 percent margin. She was up by three points a week ago (44-41 percent) and by six in mid-October (45-39 percent)" Fox News. November 5th, 2016.
"Bottom line: Using the Princeton Election Consortium’s methods, a less aggressive assumption (sigma=1.1%) leads to a Clinton win probability of 95%." Princeton University. November 6th, 2016
Obviously the mainstream media polls and election forecasting methodologies cannot be trusted, and are being heavily manipulated by the center-right and the left. I would bet that Trump's chances of winning are very high, and that his base is quite fired up for him. According to a recent Gallup poll 94% of republicans support the president and 39% of independents support him as well. According a recent ABC News poll, only 86% of democrats have a favorable view of Biden (independent results not available). From what I've personally seen it seems most democrats are only voting for Biden because he's "not Trump," which doesn't give him much momentum. Had the democrats nominated a far-left candidate like Bernie Sanders, the results would be much harder to predict.
I think the democrats will become radicalized after this election and nominate a far-left candidate, and they will likely win the 2024 election. For now, the radicalized far-right Trump has much more momentum than the middle-of-the-road center-left Biden, and there's a very good risk/reward ratio on this bet. Also there's a chance Trump's betting odds get even lower the closer we get to the election, like it did in 2016, so it might be a good idea to save some money for that. There's obviously no guarantee that Trump will win but the risk to reward here seems very good.
(BTW this is not a political statement, just simple observation. I will be voting for the Libertarian Party candidate. I don't support either authoritarian party.)
Potential GBPJPY ShortIT looks like a messy H&S pattern potentially. With a crazy rally over the last 24 hours, it could be setting up for an almighty drop. The Covid Vaccine is a few months away & other companies fell over at the next stages. UK still has Brexit to look forward to, Biden is pro Euro. So a few potential pitfalls for the UK. I think the rally was 100% down to selling off of the Yen and not buying of the Pound.
Let's see - leave comments and thoughts below.
Disclaimer
This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s and Forex. Hence each trade setup might have different hold times, entry or exit conditions and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
USDJPY - Long comingCOT data (Leveraged Funds) have move positions long in this last week. Asset Managers are still predominantly short. But Daily, Weekly becoming exhausted.
DXY strength down overall, but this would be a pullback in the shorter term.
See Daily & weekly Situations below.
Disclaimer
This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s and Forex. Hence each trade setup might have different hold times, entry or exit conditions and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
DXY looks bullish on the monthlyIn this very simple chart you can see that DXY is holding support at the 92 level for few months now.
Vertical lines are marking those areas where the stoch was below the 20 level and made a bullish cross.
Looking at it I am bullish on the US dollar for the next 3-5 years, unless this 90-92 level gets broken.
Can Biden's term be better for the mighty US $$$ than Trump's term?
We'll see...
Btw, if you look at the yearly chart the 21 EMA is at this same level, holding support.
S&P 500 Yearly Forecast (Nov 2020 - Nov 2021)S&P 500 Index (SPX) (November 18th 2020 through November 2021)
Low: 3010.3 points
High: 3876.6 - 3900 points
There could be some great buying opportunities ahead of us in the coming year, can't wait to see what 2021 brings us.
Thanks for tuning in :) Disclaimer, anyone in the trade needs to do their own due diligence and decide what is right for YOU. My charts can be wrong at any time and it's very important that you have your own strategies and plans in place. I run this channel for my own educational purposes of learning to trade, and I will never be 100% right, so please do not let me confirm any bias for you! (Dangerous to do so, stay safe and remember the basics & rules of risk assessment.) Expect the unexpected and happy trading!
WHY I THINK GBP IS GONNA *PUMP*
Hello traders!
As I've been commenting on my last posts, I think the USD DOLLAR INDEX (DXY) is gonna go bearish again one of these days. After a short bullish momentum, with a clear 50% fibonacci retracement, the index is showing some exhaustion symptoms. Therefore, unless we see an unexpected scenario on the next US elections, the index will probably drop again.
Here is when GBP comes out. The pair is shows some interesting bullish indicatiors. On the first hand, the sterling has been rejecting the 1.20 leve since 2017. This is translated on a decreasing of the volume and power of the bears. Also, EMA9 and MA20 on monthly, are converging to a bullish scenario.
It is probably to see a range or short bearish scenario, but I reallty think that GBP us gonna pump on the upcoming months. The first target is to reach 1.40 on the firsts weeks of 2021.
I'll be updating!
Can the market rise more during Biden's Presidency than Trump's?This is a simple chart showing the performance of the S&P500 under each President since the Ford administration is 1974.
As you see contrary to popular belief, the stock market in modern times has done (much) better under a Democrat President. Bill Clinton has had the strongest performance with more than +200% in gains from the day he went into the office till the day he left, while George W. Bush the worst and the only negative with -34% in losses.
Also this pattern shows that after every Republican Presidency, the Democrat administration that follows performs (much) better. Carter almost tripled Ford's performance, Clinton more than tripled George H. W. Bush's score. Needless to say what Obama did to George W. Bush's disappointing Presidency.
So in my opinion Wall Street shouldn't be seeing Trump's defeat as a setback, but as the start of a Presidency of more stock market gains than Trump's. History has a tendency to repeat itself. Wouldn't you agree? Let me know in the comments section!
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The Most Important Levels for XAU After The Vaccine AnnouncementIn this technical analysis I will go over all the most important horizontal zones for Gold and explain what you need to look at while the market is closing over the weekend.
After a lot of news about the elections, and then the Pfizer vaccine news, the price of gold has moved a lot and showed great volatility. This creates fantastic opportunities for traders, which is why I am looking at gold now at more depth. There are very nice trading possibilities here, so let me walk you through the most important horizontal zones right now so that you can construct your own set-ups as well.
Horizontal Support Level I
The support zone here at the bottom of the chart is at the beautiful level of $1,850. A level not just strong based on the confirmation of price reversal that we have witnessed here. It is also important based on the psychological importance of being at an exact round number.
I decided not to chart any additional support zone on the chart, as I consider the price of gold extremely low at the moment. After coming from an all-time-high we have seen a bearish movement. But after the massive dump on the 9th of November, I only see it going upwards from here.
Horizontal Resistance Level I
Given that I chart this idea based on the bullish scenario of a long position, I suggest looking at this area for a solid take profit level. I see two main options for taking profit, one is to leave the trade near the resistance line of the descending parallel channel, and the other is to hold until the first level of resistance.
Horizontal Resistance Level II
Horizontal Resistance Level II is a more aggressive place to hold gold to and take profit. When we look at the height of the price just before the massive dump on the 9th of November, we see another small peak that could turn into resistance too.
Therefore, instead of holding to say ~$1,980, instead I suggest holding until ~$1,960 instead.
Horizontal Resistance Level III
This level is so far off the current price of gold that I would not suggest to use it for any trade set-up. Especially since this is a high volatility period, so many things can happen soon. I would suggest to enter relatively shorter trades to make sure you are able to update the chart often to include the latest information.
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Disclaimer!
This post does not provide financial advice. It is for educational purposes only!
USDCHF Sell IdeaThe recent election fraud allegations made by President Donald Trump, and the amount of leaders from different nations holding themselves to congratulate President-Elect Joe Biden makes it pretty obvious that the political environment in the USA is going to get messy. Uncertainty at the highest level of power in the U.S. makes a lot of market participants speculate about the near future of the U.S. Dollar. We have seen how the dollar has recently been trying to go bearish in the last few weeks, and it wouldn't be surprising if the higher up Donald Trump's fraud allegations get, the further down the U.S. Dollar could go in value as well.