Watching for a continuation of the previous bearish impulse #Live but not pro, #all ideas are subject to change, #not advice just ideas, #accepting your risk is fundamental to trading
This to me has a larger ABCD over top of the chart, that projection is considerably lower. But I’m also watching this for entries to trade it down to my current projections. #Live but not pro, #all ideas are subject to change, #not advice just ideas, #accepting your risk is fundamental to trading
Watching for this to push into this PRZ, I’ll be watching for a continuation of this latest bearish impulse.
Before another push back down to test out the recent lows. Fed induced buying may cause a V rally.
Watching this for shorts, 1.37ish will be my target area.
Small order expected if this candle closes well. See attached.
You can only hold oil down for so long. I’m expecting this to accumulate over the virus stall, but as soon as the economic activity returns, I expect this to go back up. This low is from the 1990s, it’s been a long time since it was this cheap.
17,900 makes it about 50% of the bull run, markets are always try to equalize. For this I still don’t see upside here yet. Almost want to say sell the spikes, but I won’t.
I’ve taken this trade, (live but not pro) this is not any advice. I’ve moved the stop into profit already, now I’ll just trail it as needed until it’s out or Take Profit is hit. Tp1 is 1.27 of retracement. Attached BTC chart was part of my confirmation process. Which is also a live trade, and not any advice.
Similar stuff here as with Dow, algorithms are in full panic mode, big players are looking for a Fed intervention, too much risk was being ingnored (dumb money) is while smart money was “distributing” its positions. Leaving the retail market to panic. So where is the “point of pain”? Are we there yet? I say no, but the Fed May have other ideas.
Current market action don’t facilitate this projection, but I’m watching for a possible rejection of this area. No trade here yet, just watching.
Gold/Silver ratio (how many ounces of silver needed to buy 1 ounce of gold) is historically way over a correction point. I’m watching Silver for the trade of a generation (haha) but I do expect this to pull back to a historical norm.
Weak USD, strong GBP= GU up. COT still has strong USD commitment, but there has been some shifting. GU is going strong, but Covid is kind of messing things up, but between the 2 GBP is getting strong. I’m watching this for long entries.
As I asked in a post about 1 month ago, what will the Fed do if the Wuhan Virus effected the stock markets? Well, they cut rates, and they’ve had to wade into the repo markets more than expected, but at this point still no “meaningful” stimulus. So, unless they step in like and elephant foot in a full bathtub, I’m watching for this to continue its downward...