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The 3 CHARTS to make me Bullish These 3 charts are bullish for Bitcoin and extremely Bullish for Alts. 1. The US INDEX hit Resistance and stochastic RSI pressure is down, good for Bitcoin. The weekly and Daily has the Dollar going down. With the extra money being printed now, holding Crypto is a good bet. 2. This one is the Bitcoin Dominance, The daily time frame shows resistance hit and stochastic RSI momentum pressure is down. The weekly looks worse. Extremely good for Alts. 3. The Last chart here is theTotal Crypto Marketcap without Bitcoin. It is sitting on the bottom on the Linear Regression channel and Stochastic RSI and Support formed shows that a beautiful run is about to take place.
CRYPTOCAP:TOTAL2Long
by GlobalTrader_
4
Bearish on Bank Of America (BAC)This is my first time publishing any analysis and I have also not been analyzing charts for to long. This post is more so looking for feedback on my analysis, but if it helps others, then great. That being said, I am confident in shorting BAC as a result of the bearish indicators shown in my chart. For one, it is hovering above a support level that I think needs to be hit before BAC rebounds. My other reasoning is the the 50 day and 100 day moving averages are crossing. The third reasoning shown in my analysis is the "Bearish Cup and Handle Pattern." Also not drawn in what I believe to be a bearish pennant pattern. These reasons are why I have a bearish bias on BAC. As I said before, I am new to this, so any feedback would be MUCH appreciated. (Not Financial Advice)
NYSE:BACShort
by inactiveaccountdontfollow
1
QQQ - Nasdaq heading to find support on 100 MAHi All, my main 3 take-outs from this analysis are the following: 1- Price might be trying to find support at around 15400 where the 100 MA stands 2- In case the 100 MA will be broken, we always have a static ascending trendline at around 15100 which might reject the price as it happened several times in the past 3- Last support might be the dynamic support of the 200 MA, at around 14500, which I personally do not believe we'll be reaching Not a financial advice, just personal opinion. Do your own due diligence and good luck!
NASDAQ:NDXShort
by FrancescoMerlettini
US30 SCENARIOUS30 Outlook. - Weekly: US30 is bouncing further in the channel, we had a nice downmove to the lower border of the channel, where we also caught good liquidity currently it might be up for a move to the higher border. Weekly chart we are bullish. - Daily: We had a perfect retest at the lower border and we can see the liquidity spike. We are below the equal librium, we see a nice tweezer candle and created a higher low indicating a shift of trend possibly. - 4H: There is a nice H&S pattern, we are up trending and the neckline hasn't been broken yet. I would like to see a nice breakout of the neckzone combined with a (weak) pullback correlating with the fib before making a further decision. - Let me know your thoughts, link your outlooks below.
OANDA:US30USDLong
by Nas-Prince
USDJPY | SHORTEntry Range: 114.076 - 114.181 Avg . 114.152 (RRR: 2) 1st. Profit Target: 113.877 2nd. Profit Target: 113.463 Stop Loss: 114.291 HOW TO ENTER MY TRADES 1. Ladder your entries. You'll want to ladder place your orders exponentially within the Entry Range to the point your RRR is atleast 1.5 if fully filled. 2. Only first touches are valid. If price is rebounding back into the entry zone after either the profit target or stop loss was hit the entry zone is no longer valid
Short
by Event0011
1
US Inflation Precious Metals and Cryptocurrencies Soar.US month-on-month CPI data released earlier showed inflation rising to a record annualized rate, exceeding expectations. Will the Fed be forced into earlier monetary tightening, and what might that mean for commodities, currencies, and stocks? Today’s release of June’s US CPI data revealed that annualized inflation has jumped from 5.4% the previous month to 6.2% in June, which is the highest rate it has reached for 31 years. The consensus forecast before the release was expecting an annualized rate of only 5.8%. The real data has exceeded expectations for several consecutive months, which is significant in building a sense that inflation in the US is getting somewhat out of control. The US Federal Reserve has also changed its language about inflation in a tacit admission that its earlier expectation that higher “inflation” was transitory was incorrect. Another alarming factor was that the monthly increase in the CPI was quite large: last month’s increase was only 0.4%, while this latest increase ran to 0.9%. What is Behind the Rise in US CPI? The CPI is calculated from the price changes in a basket of goods and services, weighted to reflect a representative sample that would be purchased by a wide cross section of the population in everyday life. Analysts like to drill down to see which sectors were most responsible for the overall change in the CPI to try to understand what is driving the change. It is notable that core CPI, which excludes the relative volatile food and energy sectors, came in lower than overall CPI, at an annualized increase of only 6.4%. It seems that the fuel for the rise in inflation is mostly down to a lack of capacity. A shortage of hires and supply chain problems mean that production is not keeping pace with demand, which causes price hikes. Of course, the scene was set by the strong rebound from the initial shock of the coronavirus pandemic in March 2020. Will the High CPI Impact the Fed’s Policy? Most analysts are seeing the continuing stronger than expected rises in US inflation as quite damaging to the Federal Reserve’s credibility. The Fed has only just begun tapering its long-running QE (essentially, printing money to purchase bonds on the open market) program this month. Just a few days ago Jerome Powell stated that the time was not yet right to raise rates. The Federal Reserve will have to contend this blow to its credibility plus what is becoming a significantly large negative interest rate. When the rate of inflation is higher than the rate of interest, owners of US dollars are forced to either speculate or watch meaningful amounts shaved off their capital’s store of value. With a base rate of 1.25%, owners of US dollar lucky enough to get that interest rate on their savings now face an annualized depreciation rate just shy of 5%, not far from historic average returns on US stocks. Should investors begin to believe that there is no point in investing in the stock market, we can expect to see a substantial fall in the overall market will become likely. What Does This Mean for Traders? At the time of writing approximately 1 hour after the inflation data release, the most significant market movements have been seen in Gold, Silver, Bitcoin, and Ethereum, which can all be argued to represent stores of value theoretically immune to inflation. Gold rose by approximately 1.5% to trade at the three-month high of $1856 per ounce. Silver rose by approximately 3% to trade at the three-month high of $25 per ounce. Bitcoin rose by more than 3% to trade at an all-time high of $69,000 per coin. Ethereum rose by more than 3% to trade at an all-time high of $4,868 per coin. Stock and Forex markets were little changed. It may be that trend traders have a chance to profit here by being prepared to go long in these major cryptocurrencies and precious metals such as Bitcoin and Gold. These assets, especially cryptocurrencies, can be extremely volatile, so position sizes should be small and reflect the current higher levels of volatility.
Editors' picks
by SmoothJB
21