In our previous analysis of the GBP/USD, we had mentioned a reaction low around November 27. If this low is not breached again, the reversal date is confirmed (0 day tolerance) and an upward movement should take place until around December 4th. The following parameters remain unchanged: Target price: 1.34386 USD Supports: 1.31962 and 1.31064 USD. The hit...
~70% of time market is choppy. Where most traders losing money.. Triangle is one of the deadly choppy market.. chop chop until we 're losing our mind & directions....
Detail @ The Chart
The bulls gather strength In our analysis of November 14, we assumed a reaction high (November 16) with counter impulse until around November 27. Contrary to the opinion of some market participants, there was a dynamic downward reaction immediately after the high on November 16th, which broke through the support level that had existed since August and exactly...
I can see two scenarios here derivated from past ATH battles. -Scenario1: => We break the ATH with a small 5% deviation => HH confirmed => traders take their profit before eoy. - Quick Correction (low uncertainties) -25 - 30% (13 - 14k) - Bounce back without toping past ATH anymore. -Scenario2: AMZ dot.com bubble plan => We struggle to break the ATH =>...
The Rally of Bitcoin (BTC/USD) doesn't know any stops, so you should be prepared for a touch of the all-time high from 2017 sooner rather than later. In fact, depending on the crypto exchange and the price, a different all-time high was defined in the past. However, the USD 20,000 mark has a certain attraction anyway, so you should be prepared for a touch of it...
Gold (XAUUSD) broke through its August support yesterday. The gold price is now following its regular cycle, so the downward reaction came as no surprise. In the analysis of 14 November, we warned against a reaction high around 16 November and pointed to a price slump until around 27 November. Even without naming any price targets, position management could be...