kaotic363

kaotic363

After last weeks plunge, the bears had their chance to take prices down even further but so far have been unable to do so. Hence the whale bulls want to continue taking prices higher it seems after some further price consolidation. Re-opening longs, scaling in on any further weakness and will add even more upon a fresh breakout over $42k...

kaotic363

Gold had a nice rally in recent weeks but has faced major resistance and selling pressure at $1950-60 range again along with a downside break of the recent trendline. Along with a breakout in US interest rate yields and an unstoppable rally in equities, the dog days for gold seem to be coming around again now.

kaotic363 Updated 

Taking a long COMEX Gold (GC) position here as seasonal strength coupled with a nice bounce from oversold conditions along with long term EMAs still showing bull market is alive and well. Gold looks good for a 2-4 month swing trade here and will plan to sell once it gets back to overbought conditions again (90+ Stochastic). Stop is just under last week's swing low..

kaotic363

It's been a pretty reliable indicator for both tops and bottoms. Starting to get really uncomfortable with the amount of FOMO going on out there now. Reminds me of Xmas 2017. NVT was early in the 2019 top so I wouldn't be getting short but certainly keeping a close eye on longs now. Late-December is VERY reminiscent of the 2017 spike high as well...

kaotic363

BTC has had incredible buying pumps since October which continues to this day. Bitcoin has already closed with record daily, weekly and monthly levels and is VERY close to a decisive breakout over its last and futile resistance of $20k. I firmly believe that we will continue to consolidate in the near term with prices breaking out over $20k shortly. I am LONG BTC...

kaotic363

Strong resistance on gold at $1930 still. Downside target $1800-1700 range (wide)..

kaotic363 Updated 

Should have been VERY obvious that Apple would run up into the iPhone 12 announcement and selloff once the release was made. Very typical action here. However, with a new confirmed uptrend in place, we expect that AAPL wants to fill the gap from the 117-120 area which also coincides with a backtest of the consolidation triangle. Scaling into new a AAPL position...

kaotic363 Updated 

Identifying patterns in gold can be highly evident if one knows where to look. Since gold is primarily driven by a select few (banks mostly), they tend to make their movements within the gold market in a similar fashion, even more so during bull markets. We can identify 3 movements in the gold price during recent consolidation periods: 1. Price decline from...

kaotic363 Updated 

Judging from past oversold readings, those were excellent opportunities to get long the Nasdaq 100 and aim for new record highs. Getting ready to take long positions here shortly on the NQ contract. Profit target is above new all time record highs.

kaotic363 Updated 

Pattern recognition in gold can be quite useful at times. Especially when gold is in a consolidation phase as it in right now. It would seem that gold wants to make a final test of the $1875-$1900 area before strong buyers step in to take the gold price higher into the final quarter of the year. Once this consolidation has completed, there is usually $300+ of...

kaotic363 Updated 

On today's close, the uptrend that began in April is now over based on the intermediate term EMA cross. There are several factors which I would conclude are ripe for a major decline in the S&P 500 of which include: - Upcoming election in the US - Global economy mired in recession/depression - Massive overvaluation - Poor internals - A few select stocks (FANG)...

kaotic363 Updated 

With BTCUSD prices showing strong resistance over $12000, it seems like BTC just hasn't spent enough time at lower areas still. Expecting more pullback into $10250-10500 in the coming days before heading higher again.

kaotic363 Updated 

After a nice $200+ correction from the fresh all-time highs, Gold appears to be making a new triangle which could breakout to the upside by the end of this month/early-September. While spot gold did go lower which is not reflected in the GLD ETF, spot prices did not stay below $1900 for more then 4 hours which shows there is very STRONG demand under that price....

kaotic363 Updated 

After a big rise and run-up in the MACD, a heavy correction in ETH should be expected.. Long-term looks VERY bullish now though..

kaotic363 Updated 

While the gold price looks fantastic here, the RSI is now at 85 which is historically at a very extreme level. There should be a considerable correction coming soon which will prove to be a great opportunity to open up new long positions once completed. By no means am I long term bearish on gold but it is now way too extended with sentiment also in extremes. The...

kaotic363 Updated 

Commercial producers in Platinum have been heavy sellers in the NYMEX contract lately. This action typically bodes poorly for Platinum prices shortly thereafter. Once the commercials get down to -50k contracts, this can be a good signal to short. Using this weeks "Eskom Power Shortage" news to open a new short position on the NYMEX PL contract. In times passed,...

kaotic363 Updated 

Similar candlesticks from 2017/2018 top. Should BTC close the month at or near $8500 then its confirmed that a new downtrend is in effect. The issue I had with this entire run was that the ALTs never really followed through. Using LTC as an example which is very much the same as BTC but with 4x more supply, it could only manage a run to $140/150 which proves that...

kaotic363 Updated 

Once $1500 on the September futures breaks, I expect a quick and decisive fall to $1300. Additional things I see which makes this a high conviction trade: 1.) Seasonal pattern for XPDUSD is usually weak in mid-July until mid-August/early-September 2.) $1500 was a major breaking point in March as well. Once prices broke that level, the selling came in swiftly. 3.)...