Action
Weekly Trade Recap: NZDJPY, NZDUSD, GBPJPY 05-28-22Hello everyone:
Welcome back to this week’s trading recap video.
Let's take a look at the trades closed this week between May 15th- May 20th.
NZDUSD: Closed down for +0.51% profit
Full analysis/forecast:
NZDJPY: Out for BE
Full analysis/forecast:
GBPJPY: Out for -1% loss
Full analysis/forecast:
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Next downside leg visualised on AUD/USD...After some recent success on this pair its time to have a look at the next forecast. 0.7100 seems to be an ideal region for the pair to pull back up to before taking another plummet lower.
The long term monthly downside target still remains at 0.6700 but we can see more manipulation coming around these daily moving averages. Lets see if we can get a further pullback before going short.
Still lots more of volatile US action in terms of fundamentals coming this week so make sure to trade safe.
Bitcoin end of year target 2022 early 2023I am using the Beam Band to help us see the possibility of Bitcoin's price action end of the year 2022. Notice we have touched the bottom of this Beam Band twice already and afterward, a price surge happened like clockwork. The question is when will we touch down again this year if at all? What we do know is as soon as it happens we can, with high probability, expect a surge in price soon afterword based on previous examples. The green checkmarks are touchpoints at bottom of the Beam band and the red one is the possible expected touch we are anticipating. Also, notice the average percentage between the first two comes out to 800%. If we move from this expected bottom price on the beam band then at 800% would give us over a $200k BTC price.
If we do not see the BTC peak this year most likely will happen in 2023. Taking the average day count from both bottom touches on the Bean band and averaging them out gives us about 295 days afterward for the possible peak which, if so, takes the peak well into March of next 2023
Oil Futures (45) Long Gap ReversalPrice runs up out of a relative low, Buyers step up and try to make a new high and confirm the major reaction Leg. Sellers holding at the high and pullback into a major reaction, buyers step up to the consolidation at the centre of the impulse leg up and make a new high. Buyers try to step up, break outs get washed and pulls back to re-test the minor confirmed low. Price finds orders and begins to consolidate, sellers press price into the buyers, they try to hold and expand up into the press before getting rejected with a WRB gap down. Minor confirmed low gets washed, price expands into the relative major pullback and zooms back through the sellers to land on the backside of the WRB gap down.
Trading the major impulse leg back to balance. Push of the press up
Sologenic 3 month price range 2022This is of course just my opinion and not meant for trading purposes. I am only speculating on short term and taking into consideration the Bitcoin price action in the process. I can be totally wrong here as I have been many times before especially with this changing interest hike/global tension on inflation etc..... I could see Solo come back to retest its recent low price of $0.31 given the BTC price action at a low of $28k.
CARDANO ENTRY POINTS! DAILY / ADAUSDTHere we have my two scenarios and entry points for a potential breakout from this wedge. Either we will continue to oscillate within the orange TC all the way to GZ or be prepared to see lower levels of 0.60s before going up. I really wonder what is going to happen to Bitcoin once we reach the top of the wedge that has been forming since 2014 on DXY. If we look at the correlation between BTC and DXY within the period of this formed wedge pattern, every time the DXY rejected the top trendline the Bitcoin spiked by 1000%. Cardano will follow. Please apply risk management. All these entries are spot orders.
Good luck all.
XAUUSD - Gold - Short - Wait for DevelopmentOn a HTF we have noticed a double tops which touched an all time high and signalled the beginning of a reversal of the price.
On a LTF instead we can see an ascending channel which may signal a correction of the current uptrend.
In terms of Resistance and Support, the price is situated above a channel delimitated by 2 important monthly support/res. If the price keeps dropping will mostly bounce on a 1906 support (1st target) with potential move to 1800.
Now we are waiting for the price to drop and to follow this downtrend. We will also need a confirmation/correction before entering a short position.
If instead the price breaks this formation on the upward and carries on rallying up then this forecast will be invalid and we'll wait for a reversal at the top of the structure.
Be patient and wait.
GOLD Breaking the big correction and then going upCURRENCYCOM:GOLD
Hello Traders:
Looking at the exits of the GOLD price from the big correction to the top
I think now the price will continue to go up.
This is an article, not financial advice, always do your own research.
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