Watch FXOpen's January 9 - 13 Weekly Market Wrap Video
In this video, FXOpen UK COO Gary Thomson sums up the week’s happenings and discusses the most significant news reports.
🌐 FXOpen official website: www.fxopen.com
Bitcoin has been very predictable with multiple X advances followed by 80% declines and multi quarter consolidations prior to new ATHs and then another multiple X advance. I do not expect Bitcoin to run away to the upside, but rather work higher toward late 2023/early to mid 2024 when the ATHs are retested.
I remember a conversation I had (totally unrelated to trading) in the early 1990's when the Internet was considered new technology . This conversation was with an older gentlemen who owned a large franchise car dealership regarding the utility of the internet with respect to his business... or his perceived utility . I'm paraphrasing, but the comment was...
Industrial stocks have outperformed in recent months as investors shift toward cyclicals. Today’s chart focuses on Caterpillar, a potential beneficiary of infrastructure spending in the U.S. and a recovery in China.
The first patterns are the pair of highs from the last two years. CAT challenged $237.90 (the peak from April 2022) several times in November before...
One of the more powerful but under-appreciated categories of patterns are very short term drift patterns in strongly trending markets. Flags, pennants and small lateral trading ranges can all fall into this category. The patterns are fractal, that is, they appear across all time frames.
I find small multi drift patterns invaluable. First, they are ubiquitous....
Alright. Some positive PA going as we break above the 17.1 key range.
One thing that is looking weird thou is Volumes so keep that in mind as moves are not getting backed by volume.
While we sustain the above 17.1 it we are in bullish territory and I'm assuming a potential target of 23-25k despite the big important 19-20k technical range as the books seem not...
Ahead of the US CPI data on Thursday, gold has turned lower after reaching a major technical zone between $1878ish to $1900ish, as you can see on the daily chart of the metal.
The lower end was the low created when gold rallied hard into resistance earlier in the year in 2022, which ultimately caused a massive breakdown. Now back to the same level, we are seeing...
A new concept of Proof of Physical Work consensus
Proof of Physical Work protocol encapsulates real-world use cases.
The blockchain protocol rewards users for performing verifiable physical work like deploying a 5G hotspot etc.
As examples of similar projects
Wireless Network:
Hellium
Pollen mobile
Provide token rewards to participants (hotspot...
Hello Traders, here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied. Please also refer to the Important Risk Notice linked below.
Despite all the talk about a recession in 2023, many cyclical industrial companies have gained traction lately -- including United Rentals.
The first item on today’s chart is the $365 area where URI peaked in late March. Prices pushed against that level several times since mid-November while making higher lows. The result has been an ascending triangle. The stock...
CBOT: CBOT:ZW1! , CBOT:ZS1! , CBOT:ZC1! , CME:HE1!
This is the second report in the series “Year of the Rabbit: Short-tailed Trading”.
US inflation began to pick up in March 2021 and rose rapidly throughout the year. Federal Reserve officials told Americans not to worry. It was due to supply chain issues and comparisons to low baseline numbers in 2020...
I decided to see what all the fuss about prop trading firms were.
I never really got caught up in the crypto craze.
I bought a few meme coins and had some fun learning to trade with 5x margin.
But it wasn't good enough. I wanted to experience what the real money traders were gaming.
Futures!
Instead of losing tens of thousands in real money, I decided to...
In December, the price of gold moved through a volatile uptrend but did seemingly reject at $1,819. However, a daily candle managed to close above this resistance zone on the last day of 2022, which has been followed by a continuation to the upside at the start of the new year. Although the volatile uptrend pattern appears to remain intact.
Currently, XAU/USD is...
Since today worked out really well. like all my targets were hit, bullish, bearish, BA, IWM, SPY. Jeeze, someone really liked me today.
I figured let's see how far this is going to extend.
Longing ES1! to the green line.
Additional entries shown in yellow.
As well, the range I anticipate for tomorrow is displayed in the boxes.
Overall, the probs for tomorrow...
The last thing you want to do is struggle to understand what tools your strategy needs and don't need. In this live stream, I'll be showing you the top 10 trading tools to use to help your analysis process become quicker and efficient.
Here's an overlay of $MCD in yellow from 1980 to 2005 lined up to the 75% drop in $MCD on the "Dollar Menu" price wars, store closings and YOY% sales decline for $MCD back in 2002. It was a disaster. Well, $TSLA has the same 75% drop to the current low. Maybe they mimic, maybe they don't. Just interesting!
Here's the $MCD chart and the part that I copied and...
All details in the video. Bias is now up on SPX but this week will be crucial to close above 3940. A failure to hold the 18 ma would be bearish.
Dollar has an inverted hammer on the weekly chart - a warning of reversal. Gold also in a precarious area, USOIL needs to hold 70 otherwise 65 looks likely.
Good luck!
