Can see now the price has been consolidating for a few weeks now between 1.20 and 1.22
as we can see on the monthly we are at some support right now but we could end up going towards 1.1920 area then
take off for some long term buys 🚀
Trendline drawn from 4H TF. Lots of rejection to the downside as you can see in that zone. Will look for confirmation to enter with a small lotsize as i'll need to place the SL about 80 points below entry, below the trend line.
Inflation report being released tomorrow 1.30pm GMT and if the results are bad (i.e. inflation is high/worse than expected), we'll likely...
- At key support
- Above inclining 200 day moving average
- Elliot Wave looking ready to start wave 3
- Ready to break out above 1.8 range
- Alogrand is seriously undervalued, 2nd largest market cap POS)
- Faster and cheaper than ADA (number 1 market cap POS)
- Easy Staking
- Algorand governance program starting soon, demand for coins will be higher than...
Here is the DXY on the Daily Chart.
We can see price is back in and around support and has bounced from this zone. Will we see some hawkish fundy's from the Fed to give the USD the backing it needs in the markets right now. Will the push from this level continue?
Lets see what happens. Be careful with trading right now. End of month flows and bank holidays on Monday.
Here we have AJ on the Daily Chart.
Price has been respecting this trendline and is currently pushing higher towards the 85 whole level in price that has acted as previous resistance. We are very overextended on this pair, with AUD strength and JPY weakness across the board for months.
Lets see what happens on this pair if we hit the 85 level!
Price has broken this ascending structure and we can see is retesting the bottom trendline.
Is this the first indication that price is reversing on this pair?
Lets see if we get fundamental confirmation!
Bitcoin along with most cryptos has been in freefall for the last 2 weeks. The move down for the 9th of May high at $59592 to the 19th of May low at $30000 wiped off nearly 50% of its value in just 10 days. We did see a sharp bounce from the psychological support level of $30000 but it was short lived. We had some support at $32500 from the 50% retracement level...
As depicted by the chart I have created, BTC finds itself in 3 macro trading ranges.
Each range should be approcahed differently.
BTC is currently entering the oversold region of the chart, signalling that it is time to accumlate.
BTC's fundamentals remain strong with continuous news of insitutional adoption. Weak hands that sell in the days to come will be...
We have seen a break of structure on the 4HR. Is this the first indication of a trend change?
Lets see how price moves over the next few days. Could we see further downside?
Also note how psychological whole levels have acted as support and resistance in this structure.
Have a great trading day!
Price has broken through the 4hr fractal high indicating that GU wants to push higher, also price moved aggressively upwards in a really short amount of time and it broke past the previous higher high and created a higher low indicating that an uptrend is going to continue. We will wait to see if price retraces back to 61.8 fib area where there is a support level...
We've seen UCHF pull back recently. Price currently residing at a key level of support where price has bounced off previously. We have seen bulls sitting at this level.
Will price make its way back up to our middle key level following our price path?
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Fundamental Point of View:
ViacomCBS has recently featured heavily in the news due to it's $3bn stock offering, resulting in a large sell off which has had a role to play in the misfortunes of some hedge funds. Ignoring the misfortunes of Archegos Capital Management, ViacomCBS successfully raised $2.65bn at $85 a share. ViacomCBS now has a significant opportunity...