GOLD 11/8/2022GOLD
GOLD has provided a great chart to review the different stages of the market.
The past 10 years, GOLD has showed us all 4 stages of the market: Distribution, Accumulation, Downtrend, & Uptrend.
Daily Chart Analysis
Gold went crazy December ‘79. A parabolic move took price from about 400.00 to about 870.00
That was the last move of an uptrend that lasted about 9 years starting ‘71.
To start 1980, Gold crumbled and crashed. By June of ’82, the price of gold had tumbled down to 300 from 870.
The crash reached bottom in 1999 but it wasn’t until 2003 that it entered its next uptrend.
The GOLD crash lasted about 22 years.
1) The Uptrend
GOLD entered uptrend in’03 at 325.00.
The uptrend continued and in Jan.’08, price finally reached the highs of ‘79. That’s 29 years of holding the bag to finally get back to even!
Price continued to make all-time highs reaching up to 1990.00 by 2011.
2) The Distribution
After all-time highs of 1990, price started to move sideways between Resistance at 1790 and Support at 1543
By April ’13, price broke down from sideways market. The sideways market was then deemed a “Distribution stage”.
Price to enter downtrend.
3) The Downtrend.
In 2013, price fell below 200ema and entered downtrend.
Price lost support of 200ema and closed below it for the 1st time since ‘02. That’s a 1st in 12 years.
Price continued to make a series of lower highs and lower lows creating a downtrend channel.
In April 2016, price finally broke out of downtrend channel. This signals the possible end of the downtrend that’s lasted about 3 years.
4) The Accumulation Stage
After breaking out from downtrend channel, price started to move sideways finding resistance at 1370.00
Price also started to make higher lows into the resistance of 1370.00.
The market was no longer trending and had formed an Ascending Triangle.
On June ’19, price broke out of Ascending triangle and thru resistance at 1370.00. It also bounced back above the 200ema.
The breakout then confirmed the sideways market to be an Accumulation Stage. Gold will look to enter uptrend once again!
5) Resuming the Uptrend.
It took about 6 years but GOLD resumed its uptrend in 2019.
Price stayed above 200ema and the uptrend took price to all-time highs of 2070 in Aug.’20
After finding resistance at 2000.00, price has been moving sideways between 2000.00 and 1680.00.
6) ???? – Possible Accumulation stage
Price has now been moving sideways between 2000.00 and 1680.00.
It recently broke down from support at 1680 and 200ema
The breakdown was short lived as price bounced back above both. We now have a price rejection of lower prices and false breakdown.
We also have a bounce back above from Oversold Stochastic reading.
There is a lot to like here.
GOLD has been moving sideways since continuing its Uptrend and reaching All-time highs.
The all-time highs show the gold market is “hot” and the buyers the higher prices up.
We’re also seeing the buyers quickly buy up the breakdown of support. The buyers are buying up the lower prices and establishing higher support levels.
We’re in an uptrend and pulled back to a support level. The oversold stochastic reading signals a possible entry
Uptrend + pullback to support + Oversold Stochastic = Long entry.
Price will look to make a swing move to 2000 then I expect price to make All-time highs and continue uptrend north of 2800
Entry: 1710
Stop loss: 1600, -6.43%
Target #1: 1990, +16.37%, 2.55 RR ratio
Target #2: 2850, +66.67%, 10.36 RR ratio
1000
GOLD 11/8/2022GOLD
GOLD has provided a great chart to review the different stages of the market.
The past 10 years, GOLD has showed us all 4 stages of the market: Distribution, Accumulation, Downtrend, & Uptrend.
Daily Chart Analysis
Gold went crazy December ‘79. A parabolic move took price from about 400.00 to about 870.00
That was the last move of an uptrend that lasted about 9 years starting ‘71.
To start 1980, Gold crumbled and crashed. By June of ’82, the price of gold had tumbled down to 300 from 870.
The crash reached bottom in 1999 but it wasn’t until 2003 that it entered its next uptrend.
The GOLD crash lasted about 22 years.
1) The Uptrend
GOLD entered uptrend in’03 at 325.00.
The uptrend continued and in Jan.’08, price finally reached the highs of ‘79. That’s 29 years of holding the bag to finally get back to even!
Price continued to make all-time highs reaching up to 1990.00 by 2011.
2) The Distribution
After all-time highs of 1990, price started to move sideways between Resistance at 1790 and Support at 1543
By April ’13, price broke down from sideways market. The sideways market was then deemed a “Distribution stage”.
Price to enter downtrend.
3) The Downtrend.
In 2013, price fell below 200ema and entered downtrend.
Price lost support of 200ema and closed below it for the 1st time since ‘02. That’s a 1st in 12 years.
Price continued to make a series of lower highs and lower lows creating a downtrend channel.
In April 2016, price finally broke out of downtrend channel. This signals the possible end of the downtrend that’s lasted about 3 years.
4) The Accumulation Stage
After breaking out from downtrend channel, price started to move sideways finding resistance at 1370.00
Price also started to make higher lows into the resistance of 1370.00.
The market was no longer trending and had formed an Ascending Triangle.
On June ’19, price broke out of Ascending triangle and thru resistance at 1370.00. It also bounced back above the 200ema.
The breakout then confirmed the sideways market to be an Accumulation Stage. Gold will look to enter uptrend once again!
5) Resuming the Uptrend.
It took about 6 years but GOLD resumed its uptrend in 2019.
Price stayed above 200ema and the uptrend took price to all-time highs of 2070 in Aug.’20
After finding resistance at 2000.00, price has been moving sideways between 2000.00 and 1680.00.
6) ???? – Possible Accumulation stage
Price has now been moving sideways between 2000.00 and 1680.00.
It recently broke down from support at 1680 and 200ema
The breakdown was short lived as price bounced back above both. We now have a price rejection of lower prices and false breakdown.
We also have a bounce back above from Oversold Stochastic reading.
There is a lot to like here.
GOLD has been moving sideways since continuing its Uptrend and reaching All-time highs.
The all-time highs show the gold market is “hot” and the buyers the higher prices up.
We’re also seeing the buyers quickly buy up the breakdown of support. The buyers are buying up the lower prices and establishing higher support levels.
We’re in an uptrend and pulled back to a support level. The oversold stochastic reading signals a possible entry
Uptrend + pullback to support + Oversold Stochastic = Long entry.
Price will look to make a swing move to 2000 then I expect price to make All-time highs and continue uptrend north of 2800
Im not getting caught up in the chart pattern but in the action of the price, but it looks like we also have a "Cup & Handle" Pattern here.
Target #2 will be based off the chart pattern.
Entry: 1710
Stop loss: 1600, -6.43%
Target #1: 1990, +16.37%, 2.55 RR ratio
Target #2: 2850, +66.67%, 10.36 RR ratio
GBPJPY LONG 2000 PIP LONGHello traders,
Today we are looking at GBPJPY .
We can see we are at the end of wave 4 of our Elliot wave which is a corrective wave. We are now looking to catch wave 5 which will be a impulsive wave where we are expecting strong bullishness movement to our take profit / SELL zone.
We will be looking to enter at our -0.618 fibonacci level from the A wave which is where I am anticipating a rejection. We also can see a trendline approach and structure level touch.
Confluences
-0.618 fibonacci from wave A is where we are expecting wave C to end / start our wave 5
Trendline approach
Structure level touch
Stop Loss
We will be placing out stop loss below our trendline. Stop loss will be moved to break even once we see 30 pips profit.
Profit Taking
We will be taking profit multiple times along the way ( 30 pips, 60 pips, 100 pips, 200 pips, 500 pips, 750 pips, 1000 pips
Our final take profit location is ideally the 175 level.
Be sure to check out our other trade ideas below plus our education content below!
Lucky Indicator Strategy Setup for BTCHey Crypto Traders
So I was playing around with a bunch of different indicators in no particular order (as I'm sure we all have some time or another) and I came across this one which I spent quite a bit of time messing with all the settings and variations of features you can either allow or ignore. I finally ended with this - just over an hour later. I've only had it set to last 1 month's time period but f you feel like giving it a go, I think this setup is rather decent in terms of flexibility, and from what I can see - it's rather successful! ( $1000 SC >> 01 M >> Almost $800 with less than $200 DD )
Dunno what you think. but that's a WIN in my books! Please leave your opinion or results in the comments if you decide to give this strategy a spin.
[LINK] 5-year fractal projection to $1000This graph shows a rough estimate fractal representation of what would happen to LINK if it repeated its history with a "depressed" lengthened cycle of 1 year and diminished returns by half. It's basically a slightly more conservative projection compared to last bullrun.
I believe this scenario can happen if the whole crypto market reaches 20Trillion+ and Chainlink can consolidate inside the Top 10 with an independent bullish move.
DOGEUSDT is pumping and soon we can expect more riseAs we said before black trendline was the main resistance left for the price and it broke and the price is pumping after that breakout also we mentioned that the price is near strong daily support and we were looking for that breakout.
Now we can expect local correction or range for a while and soon after that more pump is ahead, or continuation of the pump now.
💎1000💎
DISCLAIMER: ((trade based on your own decision ))
<>
BNB KABOOOOOOOM!Wohhh BNB. Well past my target. I will soon set my new target and share it with you..........A while ago I was under the impression that BNB could be worth at least $100. So a price to the $1000 in now certainly not become unthinkable. That is the 10 times more than the first forecast over a year ago. What a bull market can do!!!
LTCUSD - A look in the past and prediction for the future.Looking at LTC, the monthly is obviously dissolved but there is STILL room for growth. Litecoin is a long term hold and not something you want to miss out on! There is not much reason why it has not surpassed its ATH, considering the quick growth it is going through currently.
Levels to watch are: $150, $200, $250. Make it easy for yourself, my thoughts are it's going to eventually hit $1000. 1 BTC = 100 LTC at 100k. Don't underestimate the power of the bull, you are in life changing times.
LTC has dragged during this bull market and only did a solid 4x from $70-240. In the crypto market, a 4x is nothing. Lets prepare for coins that held strong during dumps throughout the years and keep an eye on this prehistoric gem. The last thing you want to do is be left trying to short the top like the naysayers. If you missed out on $BTC, don't miss out on $LTC.
Macro on ETH Road to $1000ETH resistance/support lines are estimates based on daily/weekly candle closes on a macro scale. Between each color representing the next potential resistance range. Lower line being support once in that range and upper line of the same color being the next break out to the next color range. Lets go ETH! This could project a positive uptrend confirmation in my opinion with room for correction dow to the previous color range after a move.
$NEOUSD | Time for next big wave? $NEOUSD | Time for next big wave?
Hello friends,
After a few hectic weeks due to the coronavirus, I am back with some analyzes.
First of all i will say that performance out of the past not gives any garranty for the future.
Currently we see some upside movement on $BTC. Also some altcoins are already exploding a little bit like ZILLIQA.
We are currently in Bitcoin's halving and will start moving slowly upwards from now on. Still, I think the ALTS can give the first blow if levels are broken.
This NEO prediction is long term. And I just want to emphasize that I don't think $ 700 NEO is possible this year. I put the pattern here purely because it is POSSIBLE. But that we will get a new ATH someday I am convinced with this great project. Maybe we will be surprised again what we will get for gains this year.
I definitely see a $ 1000 NEO in 2021/2022 so let's keep a close eye on it.
Good luck!
FOLLOW & LIKE. (Leave your long term charts!)
Just as I predicted - Whales want out of Fools GoldThe big 40% pump in a few hours by the whales has all been faded, as predicted. It was all a stunt to get the little bitcoin bulls excited to unload their bitcoin at a higher price. The whales totally control this market and they want out of the fools gold. Of course you already know this if you saw my last bitcoin update. We are in the process of forming a lower low below $7300. The levels to watch are $6000 and $5500 for another bear market rally to form a higher low below $9500. As stated before bitcoin is going to $1000.
TWST Is Going to $350 in less than 6 months.NASDAQ:TWST is probably the most BULLISH looking stock technically.
In my 7 years of trading, I HAVE NEVER SEEN A STOCK LOOK SO FUCKING BULLISH !!!!!!!
The company supplies Microsft with DNA to store Data. Cells are the best and most efficient way to store information. TWST Has very strong and good patents. this can easily be a $100B cap company in less than 5 years.
Thank you for reading.
Best,
Antonio
LTC future price target zone between 920.75 - 943.11This monthly chart shows something incredible. Given that Litecoin has finally reach bottom and measuring a Fibonacci External Retracement 23 (200%) and Fibonacci Price Projection 123 (261.8%), gives a narrow price target zone between 920.75 - 943.11
GBP/CAD - SOMETHING TO BE PROUD OF (CALLING A 1000 PIP TARGET)As the title suggests, back in October 19 (2017) I made a post on this pair calling a potential +1000 PIP target, using Wave analysis and ended up playing out in textbook fashion, which is something I am very proud of.
God knows if I'll be able to call such a move again therefore I'm posting this to share with you that achievement.
This goes to show how effective Technical Analysis can be if applied properly.
Check out the related ideas section below for the Original post.
LITECOIN TO $1000 THIS YEAR?!Litecoin's ATH on coinbase reached around $420 in accordance with Bitcoin hitting it's ATH of course. It's mega bull run boosted it by 700% in 35 days. Charlie Lee and the Litecoin Foundation are prioritising the adoption of the coin and the number of platforms and merchant processors supporting LTC is increasing. As a result, I feel that once the cryptocurrency market regains bullish momentum, Litecoin will increase in price as extortionately as it did before. If the price can recover and stabilise from here, another 700% increase would take the Price up to the $1000 region which fits nicely within the parallel channel.
However, LTC is reliant on BTC and succeeds by being cheaper and more efficient so if this were to change or bitcoin was to be regulated in the upcoming months then LTC may experience the bears once more. In the short term I feel there may be some more downward movement to come perhaps to retest the support of the parallel channel before upward movement. But, if LTC fails to breakout then there will be more bears to come!
GBP/CAD - +1000 PIP TARGET ALMOST COMPLETE - SEE RELATED IDEASOn the 19th of October I posted a chart on this pair, calling a potential +1000 pip target. Since then the pair has moved 800 pips towards the primary target. What the pair is showing now is a sign that we could be getting one last push up and reach the final target. Triangle corrections tend to precede the final actionary wave and this is exactly what we're seeing form right now now, an almost perfect contracting triangle.
Check out the Related Ideas section to view my last post concerning the pair.
My personal details:
Long @ Entry: 1.7200, SL: 1.7100, TP: 1.7700, RR: 5
For risk and money management purposes, always determine a max. of 2% risk on every trade.
For example on a $50,000 account, this would be equivalent to 1,25 Lots with an 80 pip stop loss.
Targets and closure of positions may be subject to alteration throughout the course of the trade. This is due to the ever-changing and unpredictable nature of the market.
This post is set to be used and serve as an example and in an educational manner and is not to be taken as direct investment advice.
ETHUSD: 1K Near But Watch For These Reversal Patterns.ETHUSD update: New all time highs made at 863 with no bearish activity in sight. At this rate, this market can reach 1k in a matter of a day or two as money rotates out of BTC again. That is not a very difficult forecast to present, anyone that has been watching these coins for a month can do that. In this report I am going to highlight the signs to watch for IF this market decides to retrace sooner than expected.
There is actually one bearish sign that is invisible on these charts and that is the 5 wave structure that is now in place (originating from the previous consolidation at the 425 area). I am not including the wave counts on this chart to avoid clutter, BUT when 5 impulse waves are in place, what often follows is a corrective move. This doesn't mean it WILL happen, because 5th waves can extend dramatically as we have seen in these relentlessly strong markets, which is something to be aware of especially since price is now hesitating around the 814 target which is an extension measured from the weekly time frame (I wrote about this in a previous report).
The key to timing a bearish reversal is waiting for a structure such as a lower high, a failed high or double top on a large time frame. This can take hours or days to unfold and often begins with a reversal candle such as a engulfing formation or pin bar. As long as these formations are not appearing, this market is more likely to continue higher.
Since I never had intentions to short this market, the best I can do is wait for a relevant support level to measure risk from for a swing trade long. If you are an investor, then this short term analysis is of little value and must keep the two mindsets separate. The level I am waiting for is the 684 area which is the .382 of the current bullish structure which can offer an attractive long IF the market retests and validates. If the market happens to break lower (it can happen), the 573 to 500 zone is the next area to watch which is the .618 of the current bullish structure. These are the prices that offer attractive reward/risk for a short term swing trade.
Since these markets are extremely reluctant to pull back (maybe after the holidays), it is now within reason to see price reach for the 1K level which is an important psychological resistance (just like 20K for BTC). There is a 1.0 extension at 972 and is projected from the 610 low. This offers an estimate of where price can experience resistance and possibly reverse especially since it is so close to the 1K level.
In summary, when it comes to short term trading, it is less about fundamentals and more about evaluating changes in price action. Not knowing how to separate these mindsets seems to be a serious problem that will give the skilled traders the advantage over the lottery ticket holders who have no plan, no process or way to evaluate market information that facilitates effective decision making. Vertical markets attract these participants in droves and once these markets cool off (note: all markets do) there will be plenty of opportunity for short term traders that have a well defined decision making process (also known as a plan). A plan does not have to be complex, but it should be based on scenarios that are derived from fundamental or technical measures at least. What many do not realize is the market is momentarily rewarding gambling. Buy at any price and win big, and will continue until something comes out of nowhere and pulls the rug out. Be prepared, take some money off the table when you can, and appreciate what the market offers as a gift that can be taken away at any moment.
Comments and questions welcome.
Today at around 11:30 AM E.S.T. I will be appearing on NASDAQ with Jill Malandrino live. Check it out here: Https://twitter.com/Nasdaq