Markster

Markster Updated 

Bitcoin has hit a resistance cluster that was formed back in Jan 2018 at $12800, Lets see if it can hold and retest what is now previous support at $8800. If we break higher above $12800 the next resistance is the 61.8 fib at $13600.

Markster Updated 

Looking at the 1 hour chart we see that bitcoin is still trading inside the trend channel outlined in my previous post linked below (Anything Is Possible). Here we take a close up look at the action. Directly below and above the current price are fib confluence resistance and support levels which I predict we will continue to trade within. A high of $11620 takes...

Markster

Overbought eventually equals oversold. The most important aspect of trading is risk management which involves analyzing all possible outcomes. However unlikely this scenario seems, it is possible. A lot of profit has been made over the last three months and as people rush to lock in those profits by selling that could potentially push prices lower than most of us...

Markster

With the US China trade war heating up once again and the fall out beginning to flow over into a weakening global economy the stage is set for another volatile period similar to H2 2018. The S&P500 index has failed to break out above ascending resistance for the fourth time confirming a reversal, imminent support can be found at $2725 (38.2% fibonacci retracement...

Markster

The US Government Bond 3 Month Yield Is falling ahead of any official rate cut by Jerome Powell and the Federal Reserve Board. This effectively tells us the market is pricing in a rate cut being announced at the next Federal Open Market Committee meeting on July 30 2019. This is more significant than most traders realise. It has become common place on Wall Street...

Markster

The US Dollar Index has spent the last year trending inside a rising wedge formation, it broke this trend recently and has been falling ever since. The short term target is 92.3 based on where the trend started, in other words a complete trend reversion is on the cards. This perfectly coincides with, and is confirmed by, a decisive breakout higher in the price of...

Markster

Lets start off with some very obvious Australian fundamentals. 1) Australia's economic life blood is it's housing market that directly and indirectly provides jobs for a majority of Australia's population, and the property market peaked in 2017 contributing to a weaker economy instead of a stronger economy for the first time in more than two decades. 2) The RBA...

Markster

We have been respecting this channel since $4k and are currently hitting the ceiling. A break above this channel would mean a manic rally but if we hold this trend line a retest of the lower trend line is likely and we all know channels don't last forever, that would point us towards a breakdown from this channel that has supported us since $4k. In my opinion the...

Markster

Monetary Policy is a funny thing, when times are good we raise rates to prevent the economy from overheating and when times are bad we cut rates to help stimulate the economy. But what if it is interest rates that are leading the economy and not the economy leading interest rates. In that case interest rates would paint a very interesting picture. In my opinion...