Freud_Mayweather

Freud_Mayweather

As I mentioned on my previous post regarding USD/ZAR we were still in an interim downward fourth wave which I believe has the been completed. With all the FUD going on in the market this too is another major factor for price going up.

Freud_Mayweather

We may still see a further pullback in the interim indicating we are still in the fourth wave of minor degree, however trend is still up.

Freud_Mayweather

Possible fourth wave completed though volatility and market conditions make things much less certain.

Freud_Mayweather

Could the move upwards simply be an ABC correction? Time will tell.

Freud_Mayweather

The black swan in this case was the crashing DXY which made traders flock out of the dollar as well as a surge in gold which although is tied to South Africa's GDP, we produce far less (compared to platinum) than many realise.

Freud_Mayweather

The battle of self proclaimed autistic ceos versus cut-throat hedge fund managers. who will win?

Freud_Mayweather

Inflation, DXY crashing, a breakout from the bull channel. Tapering and bonds still uncertain.

Freud_Mayweather

Soros wants your Bitcoin cheaper.

Freud_Mayweather

As stocks begin to gain momentum once more with positive earnings it seems the market is not happy with the current price and another leg down may occur.

Freud_Mayweather

Elliott wave so far is playing out very well on the weekly and monthly. Fundamentally in a market that is abuzz with inflation talk, the rand is not known for being the go-to currency, add that to over 50 billion damage to the economy (a 10x increase from the 5 billion initially reported) and it is likely which direction ZAR will go consequentially.

Freud_Mayweather

At long last I get to post a fat, red short. This is too volatile to be anything but a speculation but I have a gut feeling...

Freud_Mayweather

The S&P500 has almost touched on its previous ATH, making a correction as the next move seem like the logical next move given economic uncertainty and a further pump under these conditions despite elements like efficient market hypothesis, may indicate an unhealthy expansion.

Freud_Mayweather

Remember Elliott Wave structures constantly evolve; but regardless can give us very good trend indications. Please do check out my Telegram (link in description) if you want to keep up to date and if you enjoy this content.

Freud_Mayweather

Bullish. The drop seemed like a necessary correction.

Freud_Mayweather

Multiple scenarios are possible (could also already be a wave 5), could drop further; but still macro-bullish

Freud_Mayweather

Fundamentals: Easing of lockdown therby increasing demand; commuters discouraged from public transport.

Freud_Mayweather

Wave hypothesis of the current situation, if this is correct the rule of alternation would explain the turbulence of the 4th wave.

Freud_Mayweather

Sasol has taken quite the beating but looks set to push upwards to fill the large gap it left behind as we begin to slowly look towards an end to the lockdown and the easing of restrictions it entails (in this case, travel) which means more cars on the road and an increase in demand. All this leads to sufficient fundamental and technical confluence in my opinion.