BITCOIN- Major Breakout Complete... Despite all DespitesWill new ATHs happen this year? Likely
Despite the rate hikes? Likely
Despite the vast majority still not understanding what Bitcoin is? Likely
Despite the million Altcoins? Likely
Despite the War in Ukraine? Likely
Despite the Chinese crackdown? Likely
Despite my uncle still thinking it's 'tulips'? Likely
Despite Indices being a dangerous bubble? Likely
Despite the Bears yelling that they will buy at 20k? Likely
Despite Bitcoin's 'unstable value, unviable medium of exchange' ? Likely
Despite Lagarde and Yellen fighting it? Likely
Despite sanctions and control? Likely
Despite it's already 'expensive' at 40k$? Likely
There is probably another 500 more 'Despites' so how about you all share with me in the comments your own 'despite'?
Let's do this; cause you Likely like it
One Love,
the FXPROFESSOR
Likely
$AVAX ShortHaven't posted an idea here in years, I've now matured into somewhat of an amateur, as we most are. Rate hikes coming, consistent tension, any liquidity will be dumped on right now. Big money does not want to go "risk" on right this moment. Better to go risk on at much lower prices. aka target or below. Not financial advice. Any questions let me know.
AUDUSD LONG SETUP AUDUSD
it hit support zone and now we are looking for buy setups, you will wait for it to go up for a conforming a uptrend market. as you can see it broke the trend line and now it is retesting it and also hitting the fibonacci level of 38%
i like to see it hit the 50% and then buy! risk reward on thid trade is 2.40
entry: 0.67267
TP: 0.68428
SL: 0.66784
Global Dow: GDOW Near Term Consolidation before further 2% RallyGlobal Dow GDOW
Same thing here.
Testing resistance, in fact it's now sitting just a couple of points above the next line at 2930.
It's going to push back up to 3000-3003 sooner or later, just over 2% on this chart.
Look to buy SPX or any major market either on any retest of the rising dynamic if we get to see it- or on further strength above 2935 on this chart looking for 3000-3003 range on GDOW and a further 2% rally to 2814-5 on the SPX.
Bitcoin Bearish but not breaking 6000 support If we keep getting lower highs and neutral lows , It is likely/plausible that we might develop a bullish bias
as long as we hold the 6k support line , its looking good gents
if the 6k support line is broken we should continue a bearish bias/trend for a few more months more unfortunately
DXY Dollar Index: More Consolidating of recent gains likely DXY Dollar Index: Consolidating recent gains
The dollar is consolidating recent gains after reaching a high at 94.06, some 14 points shy of the medium target here. My
bad and not a fault in the chart, as there is old resistance at the 94.03 level from the end of last year, as the chart clearly
shows. Sorry for that.
Anyway DXY (and USD pairs) look like they have some more
unwinding to do in the near term and DXY should come back down the small parallels it's beginning to form to the 93.12
line which must then hold if the dollar is to remain firm for the rest of the month from here. Any subsequent failure to
hold the 93.12 line will trigger another near term bout of dollar weakness back to 92.55-92.25 and at the same time
trigger EURUSD longs (and across most of the other pairs too.)
On the upside, for the Dollar to escape this period of consolidation and avoid a retest of 93.12 it has to break back
above the upper falling parellel from the high and then hold at the 93.36 first line of support on the first retest from
above. But that looks unlikely in the very near term, as above.
EURUSD Target achieved at 1.1721 Further weakness likely though21st May EURUSD Week Ahead
EUR has reached the medium term downside target at 1.1721
today after a low at 1.1718.
Although it's rallied away from here as London opened as it
should do, it's not likely to get very far, though.
The first resistance potential is here at 1.1763, then a minor
level at 1.1786 and then heavy at 1.1821-1.1836.
It will need assistance from NY when it opens to boost it
higher to this latter range at which point it should start to
come off again.
Looking a little further out, the chart pattern indicates that
sooner or later the 1.1718 level will also give way, leading to
a another period of sustained EUR weakness back to 1.1558
with lesser support potential at 1.1665 and 1.1616 being
likeliest levels to expect minor near term counter rallies to
occur during the descent.
S&P 500 Index Further Downside YetS&P 500 Index: SPX
Same problem as as the Dow - risen to fill the gap and now
retesting near term lows at 27330 - The first real support lies
at 27130 and it looks likely it will be tested soon. Failure to
hold here will signal further near term weakness back to
26687 and potentially, if this level fails, back to 26007
Gold: XAUUSD Look for potential top this weekGold and the Dollar XAUUSD and DXY
The dollar's decline is close to finishing. Likely to be one two spots outlined below - so this is likely also to be a big week
for gold, oil, and across US pairs too. Look for buy set-ups on dollar pairs and sell set-ups on gold, silver, copper and oil...
As DXY tries to climb and hold above a little dynamic that underpins price from the lows,so gold is held back by a similar
dynamic resistance line from the highs on the chart to left.
DXY is close to changing back to positive, either from here, at 88.44 or from 87.70 at lowest. This is likely to happen this
week. It means that gold also is likely to reverse from current levels, or from one last burst higher from here at best. If it's
to reverse here DXY will have to break and hold above 89.53 - in so doing it will have broken key fixed resistance and the
upper parallel which has controlled the current down-wave from inception and so will flip the dollar back to positive and
gold back to negative again. This should be reflected by gold falling below 1341, giving the first confirmation that the trend
has changed back to negative in the near term and triggering a fall back to 1306 in all likelihood.
However, if 88.44 fails to hold during the course of this week it will tip the dollar into what should be one final selling
climax which should culminate at around 87.70 at the extreme before DXY finds support and begins to rally again.
This will carry gold to 1375 and at an extreme to a 1389 high.Look to close out remaining gold longs here, and some will
consider shorting if we see this price action develop later this week - rejection spikes appearing on the 1, 2 and 4 hour
charts will tend to confirm that gold is changing trend (the longer the better if looking to short here) and a break below
1341 will further confirm, triggering a short back to 1306
XAUUSD and DXY - Gold top likely this weekGold Dollar XAUUSD and DXY
The dollar's decline is close to finishing. Likely to be one two
spots outlined below - so this is likely also to be a big week
for gold, oil, and across US pairs too. Look for buy set-ups on
dollar pairs and sell set-ups on gold, silver, copper and oil...
As DXY tries to climb and hold above a little dynamic that
underpins price from the lows,so gold is held back by a similar
dynamic resistance line from the highs on the chart to left.
DXY is close to changing back to positive, either from here, at
88.44 or from 87.70 at lowest. This is likely to happen this
week. It means that gold also is likely to reverse from current
levels, or from one last burst higher from here at best. If it's
to reverse here DXY will have to break and hold above 89.53 -
in so doing it will have broken key fixed resistance and the
upper parallel which has controlled the current down-wave
from inception and so will flip the dollar back to positive and
gold back to negative again. This should be reflected by gold
falling below 1341, giving the first confirmation that the trend
has changed back to negative in the near term and triggering
a fall back to 1306 in all likelihood.
However, if 88.44 fails to hold during the course of this week
it will tip the dollar into what should be one final selling
climax which should culminate at around 87.70 at the
extreme before DXY finds support and begins to rally again.
This will carry gold to 1375 and at an extreme to a 1389 high.
Look to close out remaining gold longs here, and some will
consider shorting if we see this price action develop later this
week.
DXY Dollar Index: Approaching reversal pointDXY Dollar Index
Long Term
We've been aggressively bearish of the Dollar since that first
break below 98.5 back in early May last year. Down another
11% since then it's coming time finally to think about reversing
back long again soon. DXY has already hit and bounced from
the support line at 88.44. Below here lies a long term dynamic
support line which has effectively stalled all Dollar declines
since 2011. It lies at 87.70 and even if DXY suffers one last
decline from here it should halt at 88.44 and at absolute
worst at 87.70 during the course of this week - we should see
the final low put in this weekcoming , and likely by the
following week at latest if we don't hit the bottom this week.
Look to close out most shorts across the dollar pairs into this
final selling climax if we see it materialise over the next few
days. Swing traders should now, finally, be looking to follow
suit too.
DXY Shorter Term
Last week DXY made a new low at 88.44 before bouncing 1%
to 89.51 resistance line with a high at 89.53...The 88.44 level
is one of two likely levels to look for a reversal in trend, the
other being the longer term dynamic support line, at 87.70
now. If the first level is to be the reversal point DXY will
continue rallying from here and not break below the tiny
rising dynamic directly under price right now...then comes
the bigger test: it has to break above the upper parallel and
break 89.53 and then hold on the retest - that would flip DXY
back to near term positive and send it back to 92.62 and the
falling dynamic resistance line shown on the chart above,
where it's next major challenge will most likely lie. Follow
that break if we see it materialise at any point this week
Downside
If in the alternative DXY loses the little dynamic holding it up
and then falls below 88.88 it will fall back to 88.44 again and
if it cannot base there and make a double bottom it will fall
away to the second key level at 87.70 - at which point it
should start to find some support. If so start closing out dollar
shorts and look to build longs from here. Otherwise, the
safer/less risky option for swing traders is to forget about
bottom fishing wait to see at what point DXY finally exits the
upper parallel of this impulse wave - which has, so far,
controlled all upside potential for DXY throughout this
current down-wave - and follow that break when it eventually
comes, looking for 92.60 initially.