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GBPAUD currently hitting resistance line of a bearish trend since September last year. Taking Fibonacci from the highest point of the current trend (in August last year) and lowest point from April this yea), it hits 0.3 Fib level. Structure + 0.3 Fib + Over-bought daily chart, all indicate short. Good luck!
Either Bitcoin is about to soar, or stocks are about to drop, or both.
Bearish Harmonic with PRZ @ 1.1495-1.1510 for target 1.14-1.1370. The pattern fails on the breach of 1.1530 levels
I predicted the reversal at point C and if this follows its pattern there should be an option to sell around 1.13800 and it may be a good idea to hold this a while. we are nearing a very popular resistance point as well. let me know what you think of this. its one of my first attempts with Fibonacci.
The big direction of this ratio is obviously down, and there are only three ways this ratio can go down: 1. Silver going up and Gold going down; 2. Silver going up more than Gold going up; 3. Gold going down more than Silver going down. #3 is very unlikely and #2 is most likely. Personally, I'm long both metals.
What : Shorting opportunity @ 0.758 upto 0.742 then long upto 0.766. How/Reason : On larger time frame i.e. monthly this pair is creating double top due to extreme upside momentum it had recently from the origin of double bottom. Thence time correction is forming in terms of double top. Timeframe : this will happen entire this month
This is the the ultimate market measure of economic/financial well-being.
Watch the lines. This chart can guide you if you are pursuing the strategy of being long Gold/VIX, and this ratio dropping means you are winning.