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👻 $DXY $BTC Divergence [What's up with $EURX and $CRO?]Usually when $DXY tanks, $BTC and other investment assets rise, but today is again diverging from the norm (2 or 3 time in the past days). What explains it? Perhaps the fact that $EUR is 🔺 up? A rebalancing of the currency books, perhaps? Or we're setting up for a fake out in during US open. Where are my currency experts at? The market seems to expect more dovish announcements during the upcoming Jacksonhole FED event; my take based on Chair Powell's speech in June is that we could indeed expect rather a 100bp hike (very hawkish) or at least 75bp, again like last time. The doves are hoping for a 50bp hike. If we get 50bp, does it feel like the market will be ready for a rally? I stopped out of the majority of my $cro short around .13. Looking to add more back in some more if we dump through the .1285 - .13 range and retrace back to these levels. I expect 20750 to be an important stopping point for BTC and opportunity for quick long scalp for a few points if the dumpiness continues during the EU trading session, as I would expect the US brinks to put a little long pressure on before it shows it's true intention for the day to either continue the $dxy dump and move into longing other asset prices, or to reverse and really dump the markets at market open. Summary, SHORT. My analysis still isn't solid and clear; but i'm hoping you're following along and interested anyway. Comments, suggestions, questions welcome! GL out there!
FTX:CROUSDShort
by calmrat
Real gold is not afraid of the melting pot! Gold Weekly :)Hello fellow gold traders! ive been busy (not to say lazy) lately and did not publish, im gonna go abit hyperactive and make up for my absence ;) lets start where it should start and take a look at weekly, as you can see price hit the ATH of 2070 which was for a long time out of reach. and as expected, the volume on that candle equals the sum of all the volumes that came before, signalling a more than probable fall. things cant always go up , right ? ;) Now we take a look at that falling side in more details to have a chance of seeing where it might go.... first falling algo, as you can see, correted to its 0.618 fib at around 1999 and then went staright to the first algo target at 1849 and then to the second at 1786. too perfect right ? next algo could not correct for more than fib level 0.45 as the hope for any new ath disappeared and was replaced by the fear. and then went down to first target 1739 but abit short of second target at 1666( fib level -0.618) the move stopped suddenly at only 55%, which is a well known historic support since APril 2020.we will see this level in more details later on.(yeah , lets make this idea 100 page long! XD ) third move was more classic, going to golden zone 0.618-0.65 fib level at 1800-1807 and then head diving, reviving the hope for bears now having targets at 1636 and 1568 (fib levels -0.236 and -0.618) but we have the historic level of support at 1680 blocking the bears target. this level has been tested 4 times, which lets us wonder what will happen in 5th try.... adding some fork might be of some help in this golden mess ;) well, downward as we imagined, and under the median, which suggests going for the next parallel probably. and that second target at -0.618 fib seems to have structural influence too as you can see: this area has been an important zone in past price reactions too if you move back in chart all that together, the probability of moving for the unbelievable , out of reach flashy target at 1555 ...ish increases alot! which could complete a nice ABC (Bear with me XD im new to EW! :P ) adding the weekly rising fib from 1046 to 2070 adds the confluence of fib level 0.45 , which is a common failure to reach the desired 0.5 level, in this zone too. we have enough confluence at that zone to be able to consider it as a probable target while still keeping an eye on that 1680 lulti wick zone. And keeping in mind that its gold, as capricious as any other golden creature we know ;) Wishing you all the best of the best in everything.....and in trading! Onviously not a financial advice, do i look like your banker ? XD Have a great sunday....and always pass a wink to your left ;)
FXOPEN:XAUUSDShort
by BijouBaby
14
bittyinteresting point here--- the cap or volume is at 25 billion does that mean a bullish movement is about to take place has the market found a cushion or pillow to rest on---and were going towards an upward trend----because you know we had a downturn the last 9 months can bulls and bears manage to work together to a new high--- or will bulls fail. is the bear season over----- I believe so. hoping for 23 months and 1 week of bullish charts at bare minimum---there will be 2-3 weeks at a time that will or could be bearish. but for the majority its bullish for 23 months and 1 week at minimum.
CRYPTOCAP:BTCLong
by mooncrest-holdings-ltd
Going down, for nowHi everyone, Yesterday I talked about how VETUSDT might go back to its demand zone. (link down below) Today, as I expected, we are not going to have any volatility and it is going to be a bit quiet than the last couple of days. This is only a probability but we might still have some moves. For DOTUSDT, we are in a wedge and we are most probably doing a retracement to at least the 0.5 Fib level where we also have the support trendline of the wedge. Please comment if you have any questions, I will try my best to answer them. Thank you😊
Short
by yassin_khanji
SPY- Bearish- UpdateJust posting a quick update on the SPY here as on Friday we saw a hard rejection of the 400 level. The SPY closed out the week reclaiming its 50-day EMA and is sitting right on it at the moment, however, it rejected the 400 mark multiple times on Friday. Additionally, a bearish ABCD Elliot Wave has fully formed on the daily timeframe accompanied with some bearish hidden divergence on the RSI. Seems as if this bearish megaphone is continuing to play out so will be treading lightly at the moment. Lastly, certainly worthwhile to note the importance of the upcoming week economically speaking. This coming Wednesday there's the upcoming FOMC announcement pertaining to inflation and interest rates, followed by the Fed Chair Press Conference, as well as various other economic data of the likes of GDP data, and new home sales. Staying hedged & scaling into long-term buying opportunities. Just some FIB levels and RSI-based supply and demand zones to keep an eye on in the meantime - (Previous Charts Attached Below). --Previously Charted--
AMEX:SPYShort
by jacobosiason7
1
DOGE in the local downtrend. Lots of energy on 1D.Hello everyone, let's take a look at the 1D DOGE to USDT chart as you can see the price has dropped below the local uptrend line. Let's start by setting goals for the near future that we can consider: T1 = $ 0.06843 T2 = $ 0.07035 T3 = $ 0.07241 T4 = $ 0.07513 and T5 = $ 0.07849 Now let's move on to the stop loss in case of further market declines: SL1 = $ 0.06040 SL2 = $ 0.05544 and SL3 = $ 0.04919 Looking at the CHOP indicator, we can see that in the 1D range we have a lot of energy and the MACD indicator shows that we have entered a local downward trend.
by cryptodailyuk