pnaik732

pnaik732

For the first time GOLD/BTC has rejected off of 0.04 rather than sail straight through Expect another attempt at 0.03 in the near future. Normally I would say it might break 0.03 finally soon, but there's been too much fiscal shenanigans to expect it this time. So 0.03 is the target and then re-evaluate. not financial advice

pnaik732

Indecision shown here with purple dashed lines. An impressive consolidation. One proper pullback is the obvious thing, but when something is that obvious it usually doesn't happen. So look for this to make one final push with the rest of the markets; alternatively if markets go down expect further consolidation and some downside before the dip is bought

pnaik732

to be decided of course but after gold broke on through this one might be next stay alert for a triple top, or a triple top breakout

pnaik732

Gold to Bitcoin is heading for a triple bottom. Price action there will tell us if BTC is going to keep running hard or if Gold has one more big run in store probably the latter not financial advice

pnaik732

GOLD/SILVER ration is about to re-test the triangle breakout..... This is a nice potential opportunity to long gold should the retest hold. Even if Gold goes lower it's still strong relative to silver until it gets to the bottom of the triangle not financial advice

pnaik732

Keep an eye on this chart Gold/BTCUSD ratio is testing support.... possible if this breaks the Gold/BTCUSD ratio could move quickly to test the all-time lows More likely BTCUSD shoots up than Gold falls... but the latter is a possibility

pnaik732

BTC dominance making a run for resistance A little profit taking never hurt anyone If still bullish, can always rotate into alts Not financial advice

pnaik732

Beautiful triangle breakout on the GOLD/SILVER ratio wait for the ratio to come in, and then there should be a beautiful high-confidence buying opportunity, presuming the top of the triangle holds on a retest not financial advice

pnaik732

SPY seeing parallel channel resistance in a channel that has been grinding up for a while now. A break up would be shocking, but possible.... more likely we go back into the middle of the channel but the way this market is going who knows

pnaik732

BTCUSD is testing support at 42k, though there is more support at 41k if this doesn't hold. Look for a bounce and then watch to see if BTCUSD makes a lower high, this would be a good sign that BTCUSD is headed lower

pnaik732

Expect a triangle breakout move on BTCUSD over the weekend. It may or may not be due to any announcement, but it is clear from the tails that this triangle is important. Not financial advice

pnaik732

Looks like a potential breakdown of the slow up channel. If so look for further downside as tie goes on. Getting back into the up channel means the slow grind may continue not financial advice

pnaik732 Updated 

keep an eye on this.... if it is not a false breakout, then based on the movements in ETF prices, the outlook for gold is improving and the outlook for silver is declining, but gold may still decline for a bit just with relative strength please zoom out on the chart to see the full trend not financial advice

pnaik732

If the top trendline properly breaks (currently could still form a wick), then the chart says buy gold. This could be the big one for gold, but we have been fooled many times before. Otherwise if the top trendline holds, the chart says buy silver. Not financial advice

pnaik732

S&P 500 cannot get past the ascending tightening wedge resistance on light seasonal volume. If it can, sky is the limit, maybe 5200+. Would have to not be a false breakout though, we've seen those before. If it can't most likely defense point for the bulls is at 4550 (+/- 50).

pnaik732

Gold breaking out of a long triangle in Gold/Silver ratio.... if this breaks out Gold is going to run but nothing has confirmed yet. Watch this chart! If it makes a topping tail instead, expect Silver and perhaps all risk assets to run. Can't decide... could always buy both.... not financial advice

pnaik732

I guess it could go to zero, but perhaps it will stop going down once the VVIX/VIX hits the trendline. The long term trendline is shown along with the 4h trendline Worth keeping an eye on this chart as long-term as over the last few years it called some tops and bottoms not financial advice

pnaik732

If BTCUSD is in an upchannel, then it is going to hit resistance right here Then there's a monthly resistance line coming in at 41250 just above... if somehow this gets cut through there's a lot of room to run But until then, what a nice run. Lightening up a bit on profitable positions is generally prudent around resistance... just in case... not financial advice