We have enough proof to risk our capital on NU after a severe discount down to prior structure and EMA support, let's see how it plays out !
We have an ABCD pattern that completed already and now a daily inside bar that broke down therefore we can follow the setup rules and look for at least a 1:2 trade
PSQ is an inverse Nasdaq ETF which is showing at least 3 signs of bullish confluence... if the SPX short was missed, PSQ might bring an opportunity to make some money if the stock market corrects
We have a daily trend line which was tested the previous 2 days and now we have a pullback to the trend line which is now acting as resistance. From here we have 4h structure which broke down, therefore the unpopular opinion would be to take the short opportunity in anticipation of a correction to the downside for at least a 1:2 risk to reward trade. Keep in mind...
After the shake out of buyers that let to our last successful USDCAD trade, we can see that price is too low for banks to still want to sell and our greatest opportunity would be taking the buy
We have a 4h inside bar which broke down and we have enough candles to gather liquidity for another push down
BTC has been quietly accumulating volume in a small range but the failure of sellers to correct the price could provide a nice setup for what could be a great risk to reward investment opportunity by using the inside bar setup from a few candles back to manage risk
As the dollar continues to fall, capital must flow into other assets and due to the FED shooting dollars with a bazooka, gold and even S&P could increase in value as banks, governments, corporations and institutions look to allocate capital out of the dollar in order to preserve value... however, this background info is all to ensure that the trade can be...
Obviously bearish news has been coming out between China and US relations and this normally affects the stock market. However, based on price action and reading the chart we can see that S&P500 may still have room for another rally
This 4h candle showed us that banks are still investing in GJ and we can use it to find a good opportunity to continue riding this trend, remember to manage risk always
The correction after the rally may be around the corner and even though counter trend trades are normally passed over, this one could provide a quick 1:2 R/R trade and help us hedge on any long positions in EJ, GJ or SPX
Banks seemed to have decided which direction to take EJ and a few confluences point to a trend continuation opportunity, remember to always manage risk and always assume responsibility, these are foundations for a professional trader
Gold has broken out of mid term range and shown a 4h inside bar which broke up a few candles ago. Price came back to inside bar but setup is still valid and could be considered in order to capture a potential continuation in this rally and provide a buffer against Stock/S&P long positions
4h Inside Bar setup gives us a probable 1:2 R/R trade which allows us to join the trend
The setup is based of a daily inside bar which has already broken up, the SL should give price room to breathe while it gathers the necessary volume while easily achieving 1:2 if trade goes our way
With a strong push out of consolidation and significant volume behind it, we can take a buy with the probability of a continuation to the upside and minimum 1:2 RR
We may have institutional profit taking which could give us a quick 1:2 trade as late buyers become trapped
Broken trend line with volume at previous highs gives us enough insight to short gold with minimum 1:2 R/R ratio met