Aesthetic Analysis Implies Expected Correction (Monthly View)The food is the support.
The body is the limit.
The wing is the history.
The crown is the clue.
And the eye is the target.
Cycles
Expected Correction for US30 (Weekly VIew)This relates to my ideas 2 weeks ago in which I correctly anticipated the downturn but the pace was more pessimistic. I originally estimated support at 32200 last week, now I expect around 31K somewhere this month. It will be seen then whether we would proceed to a full crash or we will continue at the green trend line seen in the picture. I guess it would be the latter.
Many are talking about fear of inflation as the reason of this downtrend. My analysis confirms that it's actually an end of a cycle as we hit a major Fibonacci resistance as seen in the chart. Perhaps, they are the same, fear and cycles, I mean, but a cycle is more measurable, so I am sticking to it.
As we can see, the road upwards with the current trend is full of hurdles that could only be overcome with a massive buying force, which is unlikely due to many reasons, fear of inflation being only one of them (another is the decline in retail investing as life goes back to normal). If we are corrected to 31K, the road becomes much clearer and we can continue upwards, perhaps, with the slower pace of the pre COVID19 market.
AMERICAN AIRLINES - Up 12% since last postOne of the last 'Hidden gems'' trades of the covid era, American Airlines could be a nice flight to Money-Land.
With airports opening and people around the world ready to fly and travel again, AAL stock is up over 12% since last post and technically the price is in an ascending channel and should rise to test the 30-32$ resistance with potential of breaching over towards the normal 50-55$ levels.
Let's travel guys and don't forget to visit CYPRUS for your holidays.
(come visit me in Limassol)
the FXPROFESSOR
GOLD Wave (A) (Cyan) possible reached. Updated 18/5/21Gold Price possible reached (A) (Cyan, light blue ).. Price has touched the upper trend line of leading diagonal and price maybe wont reached 1880 on wave (A)..Stop lost @ 1874, Tp @ around 1720...where there is a weekly pin bar (demand zone) and weekly uptrend line meet..
BTCUSD: Daily RSI Hints at Different Rythm in This Market CycleNo big revelations, just an interesting observation.
What can we know from the RSI?
The RSI is a momentum indicator. Looking at the daily RSI and price during the last market cycle (#3), it looks like there was a consistently strong up trend through-out the bull market and although there were corrections, this did not "stall the engine" . This time there seems to be clear 2 larger cycles; with larger pull-backs, instead of many small ones.
Looking at the RSI on the weekly chart (see below in updates), it is clear "the balloon was kept in the air" throughout the last bull market; never going below 54; this is not the case this time.
My assumption is: as the cryptocurrency market matures, people are more confident thus the larger and longer upswings. People also need to take profit especially those who have been in for many years already; this explains the corrections of course.
Prediction: there will be 1 more larger local cycle before the next bear market.
Any questions of comments, leave down below.
Bullish triangle breakout timingXRPUSD is moving in 60-day cycle, so we can drill-down in our analysis and investigate 30-day cycles to estimate expected timing of breakout. We are currently in 21'st day of dominant 60-day, so we have about 8 days to finish 30-day cycle. I'm expecting that between 21-25 of May we should see another round of money flowing into the market, which will push XRP to the upside above triangle.
Know what You hold & be patient !
GOLD. Waiting for price ≈1800. Updated 13 May 21Gold.. waiting for long @ around 1800, where price reside @ lower trendline of leading diagonal pattern / previous resistance/support flip zone..Stop Lost @ 1770 . Tp @ around 1870 where price of of previous supply zone/ upper trendline of leading diagonal pattern intersect...
BITCOIN: Momentum slide DOWN; 30%+BTCUSD
The LO pivot points this year have set up the potential for those stops (under these levels) to get triggered in succession beginning with the April 29th pivot last week.
Each RED level will provide either very short-term support or will exacerbate the selling momentum, triggering SELL stop orders for the break-out trader and clearing out the long's remaining SELL stop orders, increasing the selling volume down to final price support at the Jan/Feb LO's (YELLOW line).
I will be selling through these RED levels building a position as it capitulates.
As with any thesis and preparation, what if these levels prove as support? Then we have HI resistance above in the RED zone upwards towards 75k. I'll trade accordingly.
Gold waiting for final leg up wave (A) (Cyan) Updated 11 May 21Just updated my view.. Price of gold still in small range probably forming a triangle of double three pattern within 1825 -1845 tight range before breaking up to 1860 for final leg up for wave (A) ( Cyan/light blue colour) ...cycle analysis shown around 12-13 May 2021 Price will retrace back and having possibility to 1750-1720 zone...
BTC MACRO RANGE & RSIBTCUSD Monthly
Taking a look at the MACRO TF.
It will be interesting to see if BTCUSD can break the Monthly Resistance & reclaim previous high. It is still 22days until the next candle so there is plenty of time left within the current session.
Also identifying Month Support and comparing it to previous Bullrun of 2017. After BTCUSD failed to reclaim top of 2017 it fell to Support and rejected multiple times.
NOTE: RSI was also extremely overbought during 2017, as it is currently also.
What range do you think price action will operate within this time if we follow and repeat the cycle?
"DISCLAIMER: NO ADVICE. The information presented here is general in nature and is for education purposes only. Nothing should be considered to be advice. You should consult with an appropriate professional for specific advice tailored to your situation."
GBPJPY wave updated 8 May 2021Wave (iv) (red) "maybe" is a triangle.. Waiting for Final leg up for Flat pattern (w)(x)(y) ( blue/cyan colour ) for wave (4) (red) in weekly /monthly chart.
P/s. Traders should have independent view and strict proper risk management before trading any leverage instruments. without blindly following any trading ideas from others
Gold. Leading Diagonal Still Valid. Updated 8 May 21We are @ wave a (green, circled ) of Final Leg Up of wave 5 (yellow) of the leading diagonal pattern. Price of wave a (green, circled ) (maybe) will reach @ around 1850, Before retrace back to daily 200 ema and the trendline @ around 1800-1790 before final leg up for wave c (green, circled ) and wave 5 (yellow) to reach @ around 1860, where there is a confluence area / intersection between the upper trendline of leading diagonal and longterm downtrend line from all time high @ around 2070
P/s In Inside any impulsive 1,3,5 waves.. There has been "always" only a,b,c subway NOT 1,2,3,4,5 waves!
VERY important moment for BTC on daily
DISCLAIMER: below are mostly bearish thoughts, but don't worry - BTC will touch 60-62k for sure even if it start retracement after.
I see similarity in BTC charts with my EMAs now and on January 2018. I will show you the charts to compare. Pay attention to blue VWMA - it always act as very strong SR. Either reject price or cause a strong impulse on breakout. At all timeframes. But the higher the more important as you know.
Day timeframe:
4H timeframe:
Last top at 4H actually looked a lot the same as what we see now at day timeframe.
Hopefully it will be a breakout. I always foreseen ATH for December 2021 =)
Cycles are cycles. You can't break the tradition, especially with so many bullish fundamental changes coming in.
Hidden Periodicity and Pitchfork Suggests Short-Term SupportCAD is otally coupled with the price of oil, which is the major factor in this currency couple in recent times. The fact that EUR gained a lot during the first COVID-19 lockdown was mainly due to the price of oil going downwards. This was evident as well during the recent Suez canal blockage, which started a new bullish run for oil and a pull back for EURCAD. Yet, there is a hidden pattern at play here, one which can be shown using the sinusoidal of wavelength 5 months. The prices have been going up and down consistently through this pattern since a couple of years, mainly due to market dynamics, often augmented with political events.
Following this pattern, you can see that we are approaching a crest in the sine wave, yet we are a law low point in the dominant bearish trend. Also, oil prices are increasing since the Suez crisis, which suggests that the pattern might not be followed. Yet, careful pitchfork analysis shows that we are currently at the line of support, which is also confirmed by the lower Bollinger band, as well as the almost over-selling RSI.
The bearish trend doesn't seem to be waning anytime soon, since most of the action is take place in the lower side of the pitchfork. However, for the short-term, the price is going higher and now sounds like a good short-term buy.