Silver / U.S. Dollar - Silver about to shine?Hey Traders
We have silver here bounced out of demand zone, I am sorry but we should of been in this set up already from demand zone, unforeseen circumstances this week I have been away from charts, I have had this set up planned for a couple weeks now and my fundamentals line up very well, but no worries we can still get in so I am expecting silver to shine again and I'm looking to buy only. details for set up in the chart.
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This chart material is for education purposes only / Demo account should be traded only
Fundametals
US 2-Year T-NoteHey Traders
We have US 2-Year T-Note, all my weekly fundamentals are showing a nice drop from from supply zone bounced out and is looking strong to sell down, I will be waiting for a pullback to my sell limit marked off on chart.
When I am lining up a set up I always use the daily TF to place a sell limit or buy limit from supply zone or demand zone.
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This chart material is for education purposes only / Demo account should be traded only
Rising and Falling The Bitcoin StoryAs we zoom in on the intricate details of this Bitcoin chart, we’re essentially time traveling through the life story of a revolutionary currency. This isn't just a tale of wild price swings; it’s a deep dive into how Bitcoin has weaved itself into the fabric of global finance. We've seen it grow from a digital seedling into a towering tree in the financial forest, its roots spreading far and wide.
Our story begins when Bitcoin was just whispers in cyberspace, valued at mere cents. It’s akin to finding an old treasure map, leading to a chest that's now worth billions. Then 2013 hit, and Bitcoin grabbed the world’s attention — not all for good reasons, mind you, with the Silk Road and Mt. Gox putting it through its paces. Those were testing times, but Bitcoin showed its mettle, bouncing back each time.
Marching down the timeline, we encounter pivotal moments like when Germany gave Bitcoin a regulatory nod, the halving events that sharpen Bitcoin's scarcity edge, and the growing wave of institutional investments. Each of these milestones is like a stepping stone that Bitcoin used to cross the river of uncertainty, inching closer to the mainstream shore.
Fast-forward to 2017, and we find Bitcoin riding a wave of enthusiasm, propelled by a flood of ICOs. It’s a dizzying climb, with a peak that had everyone talking. But then, as the adage goes, what goes up must come down, and 2018 brought the sobering chill of the crypto winter. This was the market's way of saying, “Take a breath, reassess, and plan your next move.”
In 2021, Bitcoin came back with a vengeance, reaching dizzying new heights. This wasn’t just about investors jumping on a bandwagon; it was about big players, from corporations to hedge funds, recognizing Bitcoin’s potential. But then, the tides turned in 2022, as macroeconomic pressures, from inflation concerns to tightening monetary policy, caused the market to shiver and shake off some of its gains.
And just when we thought we had seen it all, the Bitcoin saga continued into 2022 and 2023, years that would test the mettle of investors and the resilience of the crypto ecosystem. The narrative took a dramatic turn as the market faced the headwinds of change. Inflation was no longer a specter looming on the horizon; it became a stark reality, sending central banks into a frenzy of monetary tightening. The ripples of this new economic stance were felt throughout the Bitcoin market, sending shivers down the spine of the crypto world and triggering a sell-off that would see Bitcoin shed a significant portion of its value.
But even as the value wavered, the technology didn't stand still. Innovations within the blockchain space continued, with improvements to scalability and security, not to mention the ever-expanding universe of decentralized finance (DeFi) and non-fungible tokens (NFTs). Skepticism was still a frequent guest at the table, but for every doubter, there was an innovator, pushing the boundaries of what crypto could be.
As we turned the page to 2024, the crypto community was holding its breath in anticipation. Would this be the year of recovery, the year when Bitcoin would defy the odds and rebound? Or would it be another year of challenges and character-building for the world's premier cryptocurrency? The introduction of more sophisticated regulatory frameworks began to pave a clearer path for institutional adoption, and whispers of the next halving event started to stir the market's imagination.
Bitcoin's dance with mainstream finance became more intricate. There were stumbles, sure, but every step was a lesson learned. The chart became not just a reflection of past price movements, but a ledger of Bitcoin's ongoing maturation—a digital asset growing up in a world still grappling with its implications.
Behind the scenes, this chart captures the tug-of-war between innovation and skepticism. For instance, the social media giants, with their advertising clampdown, had Bitcoin on the ropes for a bit. Yet, each technological milestone, each regulatory hurdle crossed, has added to Bitcoin's credibility.
Then, we have the environmental subplot, where Tesla's dance with Bitcoin highlighted the growing pains of an industry grappling with sustainability. It’s like watching a fledgling industry mature, grappling with its identity and its impact on the planet.
Why are we sharing this story in all its technicolor detail? Because it’s about more than just investment and market speculation. It's a historical document for future market historians, a lesson book for current investors, and a crystal ball for those trying to catch a glimpse of the future.
This chart is a saga of resilience, bursting with tales of technical revolutions, economic shake-ups, regulatory cliffhangers, and the tireless human spirit driving it all. It’s the chronicle of an underdog that’s fighting for its place in the financial hall of fame.
But wait, there's more. This isn't just about recounting past glories and missteps. It's about sketching out the forces that may shape Bitcoin's journey ahead. It’s about seeing the patterns, the peaks, the troughs, and gearing up for the next chapter in this blockbuster saga.
In wrapping up this lengthy, winding narrative, we come back to where we are now: Bitcoin, standing tall amidst the shifting sands of finance and technology. This chart isn't just a snapshot; it’s a living, breathing tale of an asset that's as enigmatic as it is exciting. It’s about understanding the past to navigate the future’s uncertain waters. So here’s to Bitcoin, the digital enigma, the currency of tomorrow, and here’s to the unwritten chapters that we’ll be charting next.
The Limits of Fundamental Analysis: An In-Depth PerspectiveFundamental analysis serves as a comprehensive approach to evaluating securities, aiming to assess their intrinsic value by examining the underlying factors that shape their worth. This method involves a meticulous analysis of qualitative and quantitative aspects, enabling an assessment of a company's financial well-being, performance, and future prospects. By diving into financial statements, gathering relevant company information, conducting qualitative and quantitative analysis, performing forecasting, and utilizing valuation techniques, fundamental analysis empowers investors to make well-informed decisions regarding the long-term potential of a security.
Undoubtedly, fundamental analysis provides valuable insights and a solid foundation for investment decision-making. However, it is crucial to acknowledge the limitations inherent in this approach and the necessity of adopting a holistic perspective when making investment decisions. While fundamental analysis offers a comprehensive understanding of a company's fundamentals, it may not account for short-term market fluctuations, investor sentiment, or external macroeconomic factors that can significantly impact the performance of a security. Therefore, combining fundamental analysis with other methodologies, such as technical analysis or considering market trends, can provide a more robust and well-rounded approach to investment decision-making. By recognizing the strengths and limitations of fundamental analysis and incorporating it into a broader framework, investors can strive to enhance their chances of making sound investment choices that align with their financial goals and risk tolerance.
Knowing How and Why Fundamental Analysis Works
Fundamental analysis is a meticulous approach to evaluating securities, such as stocks or bonds, by examining the underlying factors that impact their intrinsic value. This method involves a comprehensive analysis of both qualitative and quantitative factors to assess the financial health, performance, and future prospects of a company or investment.
The process of fundamental analysis typically includes several key steps. It begins with analyzing the company's financial statements, including the balance sheet, income statement, and cash flow statement, to gain insights into its financial position and performance. Gathering relevant company information, such as details about the management team, business model, competitive advantages, and market share, is also crucial.
Qualitative analysis plays a significant role in fundamental analysis. It involves evaluating industry dynamics, market trends, regulatory factors, and the competitive landscape to understand the broader context in which the company operates. This analysis helps assess the company's positioning and identify potential risks and opportunities.
Quantitative analysis is another vital component of fundamental analysis. It involves examining financial ratios and metrics derived from the company's financial statements. Profitability ratios, liquidity ratios, and valuation ratios provide valuable insights into the company's financial performance, efficiency, and relative valuation.
Forecasting and projections are integral to fundamental analysis. Analysts use historical data, industry trends, and other relevant information to make future projections of the company's revenues, earnings, and cash flows. These forecasts help evaluate the company's growth potential and estimate its intrinsic value.
Valuation is a critical step in fundamental analysis. Analysts use various methods, such as discounted cash flow analysis, price-to-earnings ratios, and price-to-book ratios, to determine the intrinsic value of the company or investment.
Based on the intrinsic value compared to the current market price, fundamental analysts make investment decisions. If the intrinsic value suggests that the investment is undervalued, it may be considered an attractive opportunity. On the other hand, if the intrinsic value is lower than the market price, it may indicate an overvalued investment.
Arguments Against Fundamental Analysis :
Fundamental Analysis Is Outdated
For day traders, the immediate market conditions and price movements take precedence over future stock prices, which is a primary focus for long-term investors. Day traders rely on real-time information and timely data to make quick trading decisions. This is where charts become essential, as they provide up-to-date details on price changes, current stock prices, and moment-to-moment fluctuations.
Fundamental analysis, on the other hand, relies on analyzing company financials and economic indicators, which are often released after a few days or each quarter. The lag between data releases makes fundamental analysis less suitable for day traders who require more immediate insights. Instead of waiting for economic reports and financial statements, day traders rely on chart analysis to identify trade setups and execute their trading strategies. In this context, fundamental analysis may not be as effective for day trading.
Day traders heavily rely on technical analysis techniques, which involve studying charts, patterns, and indicators. These tools allow them to analyze price trends, identify key levels, and determine entry and exit points for their trades. By focusing on real-time data and chart readings, day traders can react swiftly to market movements and implement their trading plans effectively.
It's important to understand that while fundamental analysis may have limited applicability for day trading, it remains a valuable tool for long-term investors who consider a broader range of factors and take a more extended perspective on investment decisions. Each approach serves its purpose depending on the trading style and goals of the investor.
Fundamental Analysis Is Incapable of Predicting Immediate Reactions
The response of the market to fundamental data points, whether they pertain to specific commodities, companies, or the overall economy, can often seem unpredictable. Even when a company's actual earnings exceed analysts' expectations, it does not guarantee that stock prices will always rise.
In some cases, if traders had even higher expectations for the company's earnings, the actual result may be viewed as disappointing, leading to a decrease in the value of the asset. Conversely, if traders had anticipated even worse earnings, even a below-average result could cause the investment's value to increase.
Market reactions to fundamental data are influenced by various factors, including market sentiment, investor expectations, and prevailing economic conditions. These factors create a complex interplay that can cause stock prices to deviate from what might be considered the "expected" response based solely on the fundamental data.
Investors must understand that market reactions are not always straightforward or predictable. Gaining insights into market sentiment and investor expectations, in addition to conducting fundamental analysis, can provide a more comprehensive understanding of potential market movements. Furthermore, implementing risk management practices and adopting a diversified investment approach can help mitigate the impact of unexpected market reactions to fundamental data points.
Without technical analysis, fundamental analysis cannot be completed.
Fundamental analysis and technical analysis are two essential tools for understanding price movements and making informed trading decisions. Relying solely on one approach while ignoring the other would be a mistake. Instead, they should be used together to complement each other and provide a comprehensive understanding of the market.
Fundamental analysis involves evaluating the underlying factors that drive market sentiment and determine the potential direction of prices. It provides insights into the overall health and prospects of the currencies or assets being traded. On the other hand, technical analysis focuses on analyzing historical price data, chart patterns, and indicators to identify optimal entry and exit points.
By combining fundamental and technical analysis, traders gain a more holistic view of the market. Fundamental analysis helps answer the "why" behind price movements, while technical analysis helps determine the "when" to execute trades.
Mastering technical analysis enables traders to spot early warning signs and changes in market sentiment, allowing them to react swiftly. By striking a balance between both approaches, traders can make well-informed decisions and improve their overall trading strategy.
To enhance understanding of both fundamental and technical analysis, it is beneficial to gather materials and insights from various sources. This approach exposes traders to different perspectives and helps them develop a well-rounded knowledge base. Remember, successful trading involves incorporating both fundamental and technical analysis, rather than relying solely on one approach.
Fundamental analysis can't explain why the market went too far.
Fundamental analysis is a valuable tool for understanding the intrinsic value of an asset, but it may not fully account for market overreactions. When day trading, it's essential to be aware of significant price movements that can occur when fundamental news, such as the US Non-Farm Payroll (NFP) report, is released.
During these important releases, the market can react rapidly and sometimes in an exaggerated manner. Positive news initially may create the perception of high employment rates, but subsequent information may reveal little change in unemployment or stagnant wages.
It's important to recognize that market overreactions can happen. While certain economic news releases have a strong impact, their effects on market dynamics may not always be lasting or significant. To navigate these sudden market movements, it's crucial to implement strong money management practices.
Robust money management strategies can help you better handle market overreactions and potential volatility. This includes setting appropriate Stop Loss orders, managing position sizes, and diversifying your portfolio. These practices protect your capital and mitigate the risks associated with market fluctuations caused by overreactions.
While fundamental analysis provides valuable insights into the underlying factors driving market movements, it's important to be aware of the potential for market overreactions and adjust your trading strategies accordingly.
Fundamental Analysis Cannot Predict Supply And Demand
You are correct that fundamental analysis alone may not be sufficient to predict supply and demand dynamics in day trading, particularly in the forex market where currencies are traded in pairs. While fundamental analysis provides insights into the broader economic factors influencing both currencies, it is crucial to consider additional factors that impact supply and demand dynamics.
Market sentiment and overall market dynamics play a significant role in determining the demand and supply of securities. Factors such as investor psychology, market trends, and prevailing market conditions can influence trading volumes and affect price movements beyond fundamental data.
It is important to recognize that events unrelated to fundamental data, such as natural disasters or geopolitical tensions, can have a substantial impact on various financial instruments like bonds, stocks, or commodities. These events can shape market sentiment and have implications for day trading. Some events may have a minimal impact, while others can exert significant influence on market sentiment for a specific period.
To succeed as a day trader, it is essential to consider a wide range of factors beyond fundamental analysis. This includes staying updated on market sentiment, monitoring technical indicators, and being aware of significant events or developments that may affect supply and demand dynamics.
By adopting a comprehensive approach that combines fundamental analysis with an understanding of market sentiment and other relevant factors, you can gain a better understanding of supply and demand dynamics and make more informed trading decisions.
Should You Use Fundamental Analysis?
Deciding whether to incorporate fundamental analysis into your investment strategy depends on several factors, including your investment goals, risk tolerance, time horizon, and trading style. While fundamental analysis offers valuable insights into a security's intrinsic value and long-term prospects, it is not the only approach to consider. Here are some key considerations to help you determine if fundamental analysis is suitable for you:
1 ) Long-Term Investment Goals: If you have a long-term investment horizon and aim to build a portfolio of fundamentally strong companies, fundamental analysis can be beneficial. By evaluating financial statements, industry dynamics, and company information, you can make informed decisions aligned with your long-term investment goals.
2) Value Investing: If you are a value investor, fundamental analysis is particularly relevant. By examining a company's financial health, earnings potential, and valuation, you can identify stocks that are trading below their intrinsic value, offering potential for long-term appreciation.
3 ) Fundamental-Focused Trading Strategy: For investors who employ a fundamental-focused trading strategy, fundamental analysis is crucial. This approach involves using fundamental factors to identify short-term trading opportunities. By analyzing company-specific news, economic indicators, and market trends, you can capitalize on short-term price fluctuations driven by fundamental factors.
4 ) Combining Approaches: Many investors adopt a hybrid approach by combining fundamental analysis with other methods, such as technical analysis or market sentiment analysis. Integrating different approaches can provide a more comprehensive view and help validate investment decisions. For example, technical analysis can help identify optimal entry and exit points based on short-term price patterns, complementing the long-term perspective offered by fundamental analysis.
5 ) Time and Effort: Consider the time and effort required for thorough fundamental analysis. Analyzing financial statements, researching industry trends, and staying updated with company news demands substantial time and research skills. If you have limited availability or prefer a more passive investment approach, fundamental analysis may not be the most suitable option.
Ultimately, the decision to use fundamental analysis depends on your investment objectives and individual preferences. It's important to consider your own circumstances, risk tolerance, time availability, and level of expertise before incorporating fundamental analysis into your investment strategy.
Fundamental analysis is indeed a valuable tool for investors, providing insights into the intrinsic value and long-term prospects of securities. However, it's important to recognize its limitations and the need to incorporate other methods into the investment process. By combining fundamental analysis with other approaches, investors can gain a more comprehensive understanding of the market and make better-informed decisions.
5 Key Factors Shaping US Dollar Trading This WeekThe US dollar is in the midst of a week filled with pivotal events. Together, these fundamental drivers hold the key to understanding the potential shifts in the US dollar's performance throughout the week:
US President Joe Biden announced that a bipartisan agreement has been reached to raise the US debt ceiling of $31.4 trillion, aiming to avoid a default. He has now called on Congress to pass the deal asap. Fitch ratings will remove the “negative watch” rating on the United States when the deal passes or looks likely to pass congress.
The debt ceiling agreement has potentially weakened the safe-haven appeal of the US dollar, leading to an increase in risk appetite in global markets.
The Personal Consumption Expenditures price index, the Federal Reserve's favored inflation measure, rose by 4.4% in April compared to the previous year, up from the 4.2% increase observed in March. This development has raised the probability of a 25-basis-point interest rate hike by the Federal Reserve in June.
Due to the Memorial Day weekend in the US, as well as bank holidays in Europe and the UK, Monday will experience reduced market liquidity. Additionally, institutions are preparing for month-end trading on Wednesday, which could introduce more volatility.
The US payrolls report for May will be released on June 2nd. Recent months have consistently shown better-than-expected job figures. It is anticipated that this week's job numbers will indicate an addition of 180,000 jobs, with a slight increase in the unemployment rate to 3.5%. A tighter job market will reinforce the Federal Reserve's hawkish stance, with strong wage data also providing support if the actual figures surpass estimates.
Catalytic effects of NFP DaysAs you see NFP release days often generate reversals, minor pullbacks on daily or are at the beginning of big moves, acting as catalysts.
Though I dont believe in big NFP reversal starting on low volume trading days, as we are in Easter Holidays. Hence today´s NFP day may go unnoticed as most of traders are gone for Easter holidays.
But otherwise we could see a catalytic move.
FOR EDUCATIONAL PURPOSES ONLY.
ADAUSDTHello Dear friends
happy new year :D
On the daily time frame, we have the positive divergence of the RSI, which has strengthened the possibility of forming a bearish wedge pattern at the end of the bearish trend.
The current trend is likely to continue up to the $0.23 range. In case of breaking the downward trend line and maintaining the support range of $0.19, we can expect the formation of an increasing trend up to the specified limits.
We would be happy to hear your comments
Difference Between Technical Analysis And Fundamental AnalysisHello Hello Traders ,
Please if you like the ideas, don't forget to support them with likes and comments.
Thank you very much.
Here we go ,
I want to talk to your about the differences between Fundamental analysis and Technical analysis .
Defination,
Coin analysis is trying to make various predictions by examining the crypto money market and the price graph of the crypto money analyzed. By performing coin analysis, investors can anticipate risks and opportunities. In this way, investors can invest at the right time.
If the price change in cryptocurrencies is analyzed correctly, taking into account environmental factors, it can make a profit in the changing and high-risk crypto money market. It depends on the luck factor that traders make profit or loss before analysis.
How is Fundamental Analysis Done?
There is no need for learning to do basic analysis. All of us who follow the market instantly can make fundamental analysis. Because what counts in fundamental analysis is research and attention. While doing the basic analysis, the economic situation of the global market, popular entrepreneurs and the point of view of the countries with strong economy are taken into account. At the same time, political competition in the world, the Coronavirus Pandemic and financial efficiency are also evaluated in the fundamental analysis process.
How is Technical Analysis Done?
If you want to do technical analysis, you need to know the charts. The sub-headings of technical analysis can be listed as; It is also necessary to have sufficient knowledge of terms such as support points, resistance points, ascending-descending trend, ascending channel, descending channel.
Step 1 ,
For technical analysis, it is necessary to do market research first. There are important cases in the world in terms of economic and social aspects. This situation affects the markets as well as the prices of cryptocurrencies. One of the most important points of technical analysis is to know the supply and demand balance well. If demand increases, the price of cryptocurrencies rises. However, if the demand decreases and the supply increases, this time there will be a decrease in prices.
Step 2 ,
Patterns are very important during technical analysis. Formations are formed by graphics. It helps us to determine the support and resistance points of cryptocurrencies with formations such as double top formation and double bottom formation. In this way, we can see the end or start point of a value. Thus, the downtrend or uptrend of cryptocurrencies occurs.
Step 3 ,
Another important rule when doing technical analysis is indicators. Thanks to the indicators, we can identify the momentum and support/resistance points of the cryptocurrency. Indicators showing the connection between the two-way movements show us in which direction the medium and short-term trend may continue.
Conclusion,
In order to properly analyze coin, it is necessary to examine many factors and developments regularly and carefully. Examining one of the factors can make the trader profit, but it is most important to minimize the risk, to evaluate all the factors simultaneously. Even the trader who invests by considering all the data can make a loss as a result of a sudden development in the market. Despite all the techniques and predictions, the cryptocurrency market, like any investment, includes risk factors.
I really hope it will be useful for you.
Make big profits!
BTC is including a local correction after recent gains.Hello everyone, let's take a look at the BTC to USDT chart in a 4 hour timeframe. As you can see, price is moving above the local uptrend line.
Let's start with the designation of the support line and as you can see the first support in the near future is $ 44,600, if the support is broken, the next support is $ 42,424 and $ 40,569.
Now let's move from the resistance line as you can see the first resistance is $ 46 711, if you can break it the next resistance will be at $ 50 998 and $ 55 221.
Looking at the CHOP indicator, we can see that in the 4-hour interval some energy has been used, but we have some to continue the movement.
$FAMI Gann Wave Farmmi, Inc., together with its subsidiaries, processes and sells agricultural products in China, the United States, Japan, Canada, Europe, Korea, and the Middle East. The company offers shiitake and Mu Er mushrooms; and other edible fungi products, including bamboo fungi, agrocybe aegerila, pleurotus eryngii, grifola frondosa, coprinus comatus, and hericium erinaceus. It also operates Farmmi Jicai, an online store that sells edible fungi products under Forasen and Farmmi Liangpin brands. The company offers its products to restaurants, cafeterias, and local specialty stores, as well as through distributors. Farmmi, Inc. was founded in 2015 and is headquartered in Lishui, China.
NaturalGas trend continuation to the upsideTECHNICALS: NaturalGas price will probably form complete three wave correction, after that, i will wait for clear break of trend, with flag over the trendline, only then i will get in, on breakout of flag, to catch next wave, ride trend until it is over.
There is also high probability that price will repeat the price action back from 2012, the price action from 2012 is on the chart in purple color.
FUNDAMENTALS: USD can still lose value in the long run due the Quantitative Easing, Low Interest Rates. Both of these factors could lead to Inflations of USD.
The idea is only my view of market and im not encouraging anyone to take that trade.
GBPUSD 1.23455 +0.22% LONG IDEAGOOD DAY EVERYONE
HERE'S AN IDEA ON THE GBPUSD PAIR, THE POUND WAS UNDECIDED AS USUAL DUE TO BREXIT WORRIES, WEAK ECONOMIC DATA UPDATES, SPECULATIONS ON THE BANK OF ENGLAND'S NEXT MOVE, GLOBAL RISK SENTIMENTS AND COUNTER CURRENCY FLOW.
> THE POUND WAS STEADY AHEAD OF BREXIT TALKS THIS WEEK THERE WASN'T MUCH CHANGE AGAINST PAIRS SUCH AS EURO AND THE DOLLAR.
> THE DOLLAR ALSO SAW A STREAM OF WEAK ECONOMIC DATA UPDATES BUT SOME POSITIVE SENTIMENTS ON THE ECONOMIC RE-OPENING
> US-CHINA , RISING TENSIONS STILL AS CHINA WARNED US AGAINST SPARKING COLD WAR. U.S MOVED TO AUDIT CHINESE FIRMS
TECHNICALLY WE ARE STILL IN THAT RISING CHANNEL IN THE GBPUSD PAIR THAT IS CURRENTLY AT RESISTANCE LEVEL 1.24038, THIS LEVEL IS KEY IF WE BREAK TO THE UPSIDE WILL BE LOOKING FOR LONG ENTRIES ON THE PAIR ,
> IF WE FAIL TO BREAK THIS LEVEL WILL LOOK FOR SHORT ENTRIES LOOKING TO RETEST THE CHANNEL FORMING AN ASCENDING TRIANGLE STRUCTURE SIGNALING A BREAK TO THE UPSIDE....
ENTRY - FOLLOW YOUR ENTRY RULES
RISK MANAGEMENT
PERIOD - SWING
A textbook reversal? Volume has been steadily decreasing for 9 consistent weeks.
We expect the new Unemployment report on the 5th of June.
I am a complete noob and due to my close to textbook understanding without too much technical analysis I would arguably say that what is happening right now is too easy to spot.
Therefore, a lot of people believe this will crash hard and this is why I believe a technical breakout above 3000 is possible as the last push due to its psychological value to squeeze shorts. If that happens, I don't think it will surpass 3100 and an ATH in the near future should be outright impossible.
If it goes higher just sell it and have your stop loss close to the ATH. I can't even think of a conceptually, riskless trade in this environment. Please correct me if any of this is wrong.
Almost graduating, would be nice for this to play out. If not, well lesson learned. WATCH CONFIRMATION
My Quality stock series - OrientrefThere is NO analysis what so ever...
Just have these in your portfolio or atleast watchlists...
Bearish Long term Formation Crude OilCrude has been making lower highs consistently since the 2008 crisis. Adding to that we have immediate demand collapse due to the virus but also long term move to renewables and greener sources of energy. The weekly chart has a long term bearish triangle pattern. Expect long term support sub 20 and price oscillations till 2021 within the wedge. Currently neutral but good short on decent move toward upper range of triangle.
The pair may continue moving downwards till January 31.The pair broke the weak resistance level at 1.31041 and continuing it's bearish momentum while giving some easy scalping opportunities.
The pair may touch previous resistance level at 1.29800 before a reversal keeping in mind the UK brexit exit on january 31st.