MC_Mike_Trading

MC_Mike_Trading

TF: D BTC is currently setting up to what appears to be another move lower from the current corrective pattern. An area of interest for price reaction is the 0.5 extension from the last move down (~$31,900 to ~$24,8050). This area aligns with the volume profile POC from the ~$15,600 to ~$31,900 move to the upside and the 0.618 retracement of that move. Details...

MC_Mike_Trading

TF: D Background: The US Stock market has had a bumpy, wild ride over the last several years fueled by low interest rates, global issues, and most recently global high inflation. The COVID-19 pandemic initially led to a market sell-off in 2020 followed by a large impulse wave to the upside as a result of "stimulus" checks and very low interest rates that began...

MC_Mike_Trading

TF: 12 hr Might see a reaction at the 0.618 restracemnt of the recent impulse wave to the upside. I'm a little hesitant to take longs because according to the SNB Septemebr Montary Policy Statement the SNB is continuing to focus on "selling foreign currencies" and plans to "be active in the currency market as necessary". I'd be cautious longing for more than a...

MC_Mike_Trading

TF: 1 hr I think price will see a reaction around the 0.618 of the minor upside move.

MC_Mike_Trading

TF: 12 Hr BTC may wick or retrace lower to ~$28.7k to $29.0k from its previous impulse highs for a leg higher. Initial targets are around $34.6k to $36.5k with much higher potential depending on how price action plays out.

MC_Mike_Trading

TF: 12 Hr AUDUSD looks like a good buy for a leg higher around the 0.618 retracement of the previous impulse wave that broke structure around $0.68. Another area of interest for a move higher is around $0.6550. Since the previous wave was impulsive out of the correction zone, my bias is long around the 0.618 levels. A bearish scenario that could unfold is price...

MC_Mike_Trading

TF: D Gold is trading between the 0.5 and 0.618 retracement levels from its previous leg higher. Looks like a potential area to see an uptick in the price of gold to around $1980.

MC_Mike_Trading

TF: 1 hr Looking for another leg down for a possible buy around 1.0642 to 1.0656

MC_Mike_Trading

TF: W I am looking for a little bit more retracement for a longer term long. Invalidated if it falls below $76 to $77 area.

MC_Mike_Trading

TF: 1 hr Price is approaching the 0.618 level from the last major leg down. Price may see some initial rejection here

MC_Mike_Trading

TF: 6 hrs Looking to see if AUDNZD can break lower out of the current consolidstion before a push higher

MC_Mike_Trading

TF: D DXY looks ready for a correction to the upside before making another leg down. Liquidity above the wick at 105.68 looks like a good target.

MC_Mike_Trading

TF: D USDJPY looks ready for correction upwards before another leg down. A lot of liquidity above recent minor corrective tops so I think price will grab liquidity above these highs before another leg down. looks like a typical ABC correction to last years massive impulse to the upside

MC_Mike_Trading

TF: D Comparing symbol: BVOL Pretty interesting set-up on Bitcoin and the crypto market in general. Bitcoin volatility is a historic low right now and historically when volatility reaches a low in this general area price action really ticks up (both downwards and upwards). This is marked by the pink horizontal lines on the chart. I am expecting some big...

MC_Mike_Trading

TF: 4 Hr AU looks like it may have a change in structure for a continuation to the downside for the time being. Price looks like it could pull back a bit more before making another leg down.

MC_Mike_Trading Updated 

TF: 15 Min Price may test the area shown and run higher to grab buy side liquidity/open sell position stop losses. Overall price has been bearish on higher timeframes, however, price and DXY overall has dipped pretty hard over the last month or two with a potential for a correction here

MC_Mike_Trading

TF: 8H Hanging man candlestick formed across the 4h and 8h TFs which could lead to a move lower. Might be corrective to todays impulse or a correction to the move higher over the last few months.

MC_Mike_Trading

TF: 9 D BTC may begin a retracement rally/consolidate in a range in the coming month or two and lasting to early winter before a final plummet to the green box with a final low around fall 2023. Couple of macro fundamental factors: 1. We are on the cusp, if not already in a recession. Recessions tend to last about a year to years 2. Rising interest rates....