HydraFinance

HydraFinance

For a long time, I maintained a scenario for the Mexican Peso that envisioned a bounce down all the way down to the mid-16s a view that seemed less than likely a few years ago with the Dollar hitting an all-time high at nearly 26 pesos per unit. Sadly I didn't hold strong enough conviction on the move happening to see it all way through, throwing the towel just in...

HydraFinance

We can see a motive wave in progress making steady progress up. We have a bit of factors that could confuse the novice in wave analysis since the flat that comes as the 4th wave of our impulse displayed an unorthodox top as wave B (2150) of said flat. Ultimately the pattern looks very mature at this stage, thus Im expecting a break above the whole pattern...

HydraFinance

We have a 123 pattern on the smaller timeframes of the pair. The third move of the pattern displayed some unanticipated strength which throws a bit of doubt on the conviction of this idea. For this purpose, I've set the entry a few pips below the price it closed on Friday to actually get the price to compromise on the move down by going through one of the previous...

HydraFinance

I can see what resembles an inverted Head and Shoulders pattern right at the recent top. Even more interesting is that the right shoulder, which is a bit higher than the right shoulder although both bottomed at around the same price, has been made as an 18-day channel as of this publication. The channel composing the right shoulder isn't completed yet and I do see...

HydraFinance

I was amazed to see the recovery the peso had built over the year, it has me honestly surprised, especially knowing the wasteland that is the administration of the Mexican Government funds and budgeting. Regardless, if there is a maxim in trading, it is that price is king, and given the structure, we can appreciate, it all seems to indicate bears are about to take...

HydraFinance

There's been an extended drop in price all the way since the highs in early November. It seems we've touched bottom establishing resistance at 0.9060. This level should absolutely hold for this scenario that I'm looking to play out. That being said, I can perfectly see the price surrendering last week's rally in its entirety before turning around again and really...

HydraFinance

Price has made its steady march on its way to higher highs. Becoming stagnant just shy of the 1700.00 mark, the price consolidated in a canal with a slightly descending angle. Initially, I thought this could be the entirety of the corrective pattern which was to be expected given the gains the asset had realized in the past few days, but after seeing the price...

HydraFinance

There are a couple of interpretations that fit quite well to the structure of price since it bottomed at around the 1,170.00 dollar price level. The lateralization created a neat base out of where price just recently shot up this past weekend. I am expecting it to surpass the 1,700.00 price target probably soon. Obviously, a clear sign that this scenario might not...

HydraFinance

A couple of weeks ago, as the Crypto King slid down the slope of investor hope breaking below the 17k price level, it was interesting to see as its sibling in many ways, Ethereum, failed to make a new low to accompany it. This must not be too unsettling as the corrective pattern Bitcoin was exhibiting was largely unresolved, standing in stark contrast to Ethereums...

HydraFinance

I had expected once the price broke and closed below the trendline drawn, that it should follow the course and ultimately end reach new lows. However, I did give an allowance for something of the sort, that has taken place, to happen. None of the points that cause doubt or even invalidate the scenario have been broken and the revisit of price to higher ground...

HydraFinance

The pattern exhibited by the pair foreshadows a coming important move upward. If my suspicion is correct. We will be seeing a revisit to the highs of March 2020 and if anything this move should widely exceed the upper bound set at the outset of the pandemic. As should be obvious this is a daily timeframe setup. As such it should and most likely will take some time...

HydraFinance

I was waiting to be able to update my count on this and publish it a day before but I was just way too busy to get down to this. As I had touched before there was a possibility of this pair making a revisit to the lows again. In this case, the aggressive drop we experienced this week exhibits the characteristics of a C or a 3rd wave. For this instance, I've marked...

HydraFinance

I was writing last week that the price should soon turn around. As it turns out the turn was closer than I thought, even closing last week with a break and close below the previously established trendline that followed along the week recovery the index was experiencing. I do heed caution on the hand of the speculators but this only goes to reiterate our past...

HydraFinance

While I would like to be an optimist and believe that we are mostly out of the woodwork, that's not what I would be banking on. For the latter half of last month, the SP index rallied hard right after having created a new low, it would be easy to assume that the new low constituted a second wave down and that now the correction is over and the bullish trend should...

HydraFinance

The price of the crypto king has stagnated sideways since hitting rock bottom in June at a price just above the 17.5k mark. I've heard of many forecasters calling for another crypto winter similar to the one experienced after hitting the 20k peak for the first time. It certainly must seem logical to extrapolate such qualities as the duration from previous...

HydraFinance

Since my last post on the subject price fluctuated a bit below the 1300 level for a couple of days, but it has since made an aggressive rally almost reaching the 1600 mark. I expect the price to continue, with my first target ahead at the 2030 level. Any sharp move downward below 1300 would grant a reconsideration of this scenario. Happy Trading :)

HydraFinance

We had expected for this scenario to happen and as it turns out, the market bottomed at the ultimate designated target that we had called for more than a month ago. Markets never cease to amaze in the pinpoint accuracy they can display sometimes. In any case, Ethereum has rallied since hitting the 1191 target for more than a hundred dollar gain per coin. At this...

HydraFinance

A bear market has been in force since the beginning of the year 2022. Given the rebound occurring since mid-June, many investors may think the fog is clearing and prices should resume rising, however, nothing seems further from the truth. A common characteristic attending many bear moves across decades and many markets are 3 moves or waves, two moves pushing down...