This count is based on my assumptions so anything can happen not a trading or financial advice just for educational purposes only kindly do your own ta thanks trade with care good luck.
Bearish harmonic.
the VIX is at an inflection point and the ES looks like shit. Lots of hype around Ethereum at the moment, mostly fuelled by false hopes that will be shattered upon or even before the merge, there's this idea that eth2 will somehow make the ETH chain somewhat useable, and not just some whale and dex arbing chain. I'm not sure where it came from,...
Ethereum Classic has no business at it's current price as profits are taken it is going to dump massively. This is my plan. Risk to reward is incredible on this opportunity. Let's send it where it belongs. Shorting Ethereum Classic seems like the logical thing to do. I am not using leverage but if you do don't go over 3x unless you know exactly what you are...
Setup:
Simple Demand Rejection zone
Confluence:
HNS Breakout
Marubozu
BRN
Entry:
Buy @ 0.6300
SL @ 0.6250
TP @ 0.6400
Note: Big News releases (NZD Cash Rate) tmrw 10 am (GMT +8) morning. Please trade after news!!! Usually if the rate maintained, NZD will be weakened & If bearish momentum too strong, then setup is invalid. The entry will be bye...
Rationale:
- Although recent GDP growth figures have exceeded expectations, there are signs that the Chinese economy is becoming more unbalanced; $MS predicts a Chinese slowdown, potentially reducing demand-side pressure for iron ore (and /cl's failure to maintain above 50 will only aid supply-side capacity)
- I maintain a bullish stance on $ as I believe that the...
