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$LINK CHAINLINK Officially Found Bottom & Starting A Reversal Why LINK investors might be sitting on a goldmine thanks to proof of reserve It is often difficult to find winners in the crypto market during a major crash but Chainlink might be it. Even though its native currency LINK suffered significant downside so far this month, the Chainlink network continued to see wins as a potential solution. Chainlink can facilitate the proof of reserve which might be the ideal solution that may help solve some of the cracks unveiled during 2022’s market crash. Chainlink proof of reserve may help overcome systemic financial risks, as well as contagion risk. Chainlink as an oracle services provider stood in a position to help facilitate a large-scale adoption of proof of reserve. Additionally, looking at the current scenario of the market, it could be considered as more of a necessity than an option. The good thing is that it also offers an opportunity for the market to adapt and grow from recent challenges. The need for large-scale proof of reserve adoption further outlines an opportunity for Chainlink’s adoption. It underscores yet another reason why Chainlink’s offerings continue to add value and why the network has robust long-term potential. Healthy long-term adoption might contribute to more value for LINK. Chainlink did register healthy growth in the last 30 days. For example, its supply of LINK held in smart contracts grew substantially during the last four weeks. The same was observed for its velocity. Both the velocity and supply of LINK in smart contracts dropped significantly in the last five days. This reflected the impact of last week’s crash on Chainlink’s performance. But will we see a recovery this week? One of the best ways to assess demand was to look at the balances of top addresses. LINK’s supply of top addresses registered a sizable drop in the last five days. However, the good news was that the whales/top addresses are no longer selling. Regardless, we were yet to see a return of strong buy pressure. Chainlink’s transfer volume also took a bit of a hit in the last few days. Investors should thus, keep an eye out for the transfer volume to pivot as a confirmation that demand recovery. Chainlink is a potential game-changer that investors have a keen eye on. The project was launched as an avant-garde solution to streamline off-chain blockchain projects and transform them into on-chain platforms. There is no question that LINK has opened a new world of possibilities regarding the intricate world of web3 development. As the company provides curated and in-demand solutions, it’s no surprise that top-tier names such as Google Cloud, Polygon, and Aave have wholeheartedly embraced that project. Investors and analysts are confident that Chainlink is on remarkable growth trajectory steering into 2023. Expect New Alltime Highs Soon!
Long
by UnknownUnicorn2208604
1
BNP Paribas (BNP.pa) bullish scenario:The technical figure Triangle can be found in the daily chart in the French company BNP Paribas S.A. (BNP.pa). BNP Paribas is a French international banking group. With 190,000 employees as of February 2021, the bank is organized into three major business areas: Commercial, Personal Banking & Services (CPBS), Investment & Protection Services (IPS) and Corporate & Institutional Banking (CIB). BNP Paribas is the largest banking group in Europe, after HSBC, and ninth largest Banking group in the world. The Triangle broke through the resistance line on 04/11/2022. If the price holds above this level, you can have a possible bullish price movement with a forecast for the next 37 days towards 52.65 EUR. Your stop-loss order, according to experts, should be placed at 41.53 EUR if you decide to enter this position. BNP Paribas SA joined European peers in getting a lift from rising interest rates, with higher income from lending and debt trading propelling earnings past analysts’ estimates.Net interest income at the Paris-based bank rose 9.6% from a year ago, and fixed-income trading jumped 25%, just ahead of the average for the biggest Wall Street firms. Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
EURONEXT:BNPLong
by legacyFXofficial
CaixaBank (CABK.mc) bearish scenarioThe technical figure Triangle can be found in the daily chart of the Spanish company CaixaBank, S.A. (CABK.mc). CaixaBank, S.A., is a Spanish multinational financial services company. It is Spain's third-largest lender by market value, after Banco Santander and BBVA. CaixaBank has 5,397 branches to serve its 15.8 million customers, and has the most extensive branch network in the Spanish market. It is listed in the Bolsa de Madrid and is part of the IBEX 35. The Triangle broke through the support line on 29/10/2022. If the price holds below this level, you can have a possible bearish price movement with a forecast for the next 12 days towards 2.850 EUR. Your stop-loss order, according to experts, should be placed at 3.5860 EUR if you decide to enter this position. Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
BME:CABKShort
by legacyFXofficial
AUDJPYAUJPY broke up the descending channel . It has formed a short term uptrend. In order to buy I am waiting a break - retest of the resistance with a TP level close to the most recent solid resistance I spotted. Otherwise, if it breaks the current support zoen and retest it pointing down I will go vice versa. In general BoJ is more dovish while BoA is more aggressive in financial policies. This makes the AUD more attractive for faster profit comparing to Yen and this might drive to further push to the upside cause the pair is mainly bullish over the last months. Everything lays to the Break of structure mindset, just observations of where the price has/has no power to surpass and how can this action be depicted with big/ small body candles, wicks, velocity of price action etc. Some retracements are weak and the reversal is easy to be spotted. Other retracements are strong and many traders, included me, can be confused if the break & retest is not valid but in fact the setup might be proven right in the end (despite tight SL which is considered a wrong placed exit point.). It depends on what is the lot size, risk management, in which way someone wants to press him/herself, how much can afford to loose etc. News can whipsaw and create momentarily fakeouts and push to SL hits and drawdowns. The same applies with big players' games behind the closed doors during weekends. That's why I avoid to put tight SL because it is quite predictable and it is seen by brokers, banks etc. The above, make me avoid trading on Mondays and after 16:00 on Fridays. Hope that I help a bit! Goodl luck!
by The_Forex_Path
JPM and Banks Report FridayJamie Dimon has set the fear expectation, prior to the banks report this week. Attached is the JPM CHART on a 15 minute time frame The lines on the chart are referenced below and on the chart. Yellow Dotted = Intraday Levels White Dotted = Daily Chart Levels I expect the PPI or CPI to be a catalyst for the market to get a counter trend going and Friday bank earnings to be the counter trend continuation. Again, those are my technical thoughts and outlook, of which, could be different from yours', so please stick with your trading rules and risk management.
NYSE:JPMLong
by bsdvs23
Will Credit Suisse repeat the fate of Lehman Brothers?Information has appeared on the Internet that the Swiss bank Credit Suisse is highly unstable. Recall that Credit Suisse is the second largest Swiss financial conglomerate after UBS. This bank covers a large volume of the banking market around the world and if Credit Suisse has problems, the entire world economy will feel it. The bankruptcy of such a financial institution may also have a negative impact on the cryptocurrency market, since when banks liquidate unprofitable leverage positions, they primarily cut over risky assets, to which the crypt belongs. A Twitter user under the nickname Alex Good analyzed in detail the future financial results and compared the current situation at Credit Suisse with the bankruptcy of Lehman Brothers: twitter.com Some conclusions: 1. CDS (credit default swaps) - a credit instrument that allows you to hedge the risk of bankruptcy, Credit Suisse bank has exceeded 250 points, which is higher than the maximum of 2009 (the previous financial crisis) 2. Bonds nevertheless show a yield of only 6.4%, which is not significant and does not indicate bankruptcy (yet). 3. CET1 capital adequacy is an indicator of comparing a bank's capital with its risk-weighted assets to determine its ability to withstand financial difficulties. Credit Suisse has 13.5% (against 10% of Swiss claims, 8% of international claims), at the height of the crisis of 2008-2009 - this indicator was often 5% for banks. 4. The bank has several sources of influence on future financial results: A) money management fees for rich clients B) losses of an investment bank that lost substantially during the bankruptcy of Bill Hwang from Archegos C) penalties for losses from point B D) unprofitable fund "All Funds" 5. The fall in the price of Credit Suisse shares reflects the forecast of the financial result (-70% to profit) of the bank 6. The bank profits from the increase in rates in the markets, focused on large Chinese clients, after finishing work with the Russian market 7. Asian clients, despite falling markets, make 3 times more transactions than American clients. 8. Several transactions related to the issue of bonds can bring a significant loss to the bank, including a loss from investments in the European leverage index of loans, which generates up to $245M of loss. 9. Also on the horizon is the problem of losing $600M from holding the debt of Citrix. 10. The litigation concerns the corporate culture of Credit Suisse bank, an ex-employee managed to bring a loss of $1.27B to one of the clients and successfully hid it. And here the question arises - is Credit Suisse and the entire market in danger of repeating the history of Lehman and have we lost sight of the new black swan? An incident of this scale can bring a financial tsunami to the most risky markets of technology stocks and cryptocurrencies, and the current level of BTC $19K can become the level of $6K BTC in 2018 (it is worth recalling that at the beginning of 2018, bitcoin dropped to $6K, and when the whole Twitter thought that here it is super-large and from here only up - BTC abruptly went to the $3K area (just at the peak of the quantitative tightening program from the Fed). Another news came out today: Credit Suisse $CS has stepped up efforts in recent days to sell or reduce stakes in key companies as part of a planned restructuring to remake the bank – WSJ. By the way, the name of the chairman of the Board of directors of Credit Suisse - Axel P. Lehmann - is nothing but a smile of fate. What do you think about the future of the global economy? Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
by Lingrid
7
[8 Sep] Financials Rebound [Reversal Trade]How I idealised this trade: Woke up slightly later than usual and as I tried to catch up with the market happenings, I realised that whilst the S&P500 has had a great rebound, my portfolio (mainly SPY and blue chip tech stocks) was relatively flat. Digging in further I soon realised that the financials were leading the rebound for S&P 500. I compared severable financial tickers before deciding that C has the best and most suitable setup that I'm comfortable with. I did consider an options play on this, but I'm still quite amateur at selecting strikes and expiry dates for swing plays (If anyone can kindly advise do let me know!) Entry: 49.6 Stop: 47.5 TP: 53.9 Recall that the current economic climate remains hawkish as the Fed is determined to reduce overall demand (with the increase of interest rates) to combat inflation. The overall thesis behind this is that banks will stand to benefit from rising rates in the short run, therefore a bullish outlook for the financials. Open to sharing ideas, do let me know if you have any thoughts in the comments section!
NYSE:CLong
by vincentosh