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Gold - Macro View 🌎Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📌 Monthly: Left Chart From a macro perspective, Gold has been generally bullish, trading within the rising brown channel. For the bulls to maintain control, a break above the 2075.0 level is essential. In this scenario, a continuation toward the upper boundary of the brown channel can be anticipated. 📌 Weekly: Right Chart Meanwhile, from a medium to long-term perspective, Gold appears to be confined within a range, currently nearing its upper boundary. As long as the 2075.0 resistance holds, the possibility of a bearish correction persists. Confirmation of a bearish reversal setup would depend on lower timeframes. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
OANDA:XAUUSD
by TheSignalyst
2
GREED, GREED, GREED but what follows?About a month back, I made a solid move in the market that sparked a strong rally. Now, as we near the end of a strong earnings season, I'm in a neutral position, but I'm taking steps to secure gains by trimming my positions. I reckon a decent pullback would be beneficial before considering further upward movement. There's quite a few gaps to fill due to some impulsive buying, and I believe reallocating capital is crucial for a healthier market, especially considering how much weight big tech holds in the SPY. NVIDIA's earnings showed remarkable strength. They surpassed already optimistic expectations by a significant 10%. The $600 target set by premium sellers seemed overly ambitious, yet those sellers managed to benefit from the earnings report released last week. Many institutional investors are operating under the assumption of a smooth landing in 2024, envisioning reduced rates, a depreciating US Dollar, a weakened Chinese macroeconomy, and sustained dominance in Large Cap Tech. The consensus among fund managers leans towards the belief that the Fed's rate hike cycle is nearing its end, with expectations of forthcoming decreases in short-term rates. Additionally, there's a noticeable shift of interest towards Real Estate Investment Trusts (REITs) and Japanese stocks. (Source: BofA Global Fund Manager Survey, BLOOMBERG)
AMEX:SPY
by SPADESASSETS
Are Recession Fears Still Looming? Gold is Flying Gold has enjoyed an impressive rally over the last 5 weeks - up 6% in the month of October. Historically, gold has always been the quintessential “flight-to-quality” asset. Whenever there are geopolitical or macroeconomic fears permeating financial markets, gold has outperformed. As it stands, December gold is on the brink of retesting the psychologically significant $2,000/oz level. So is the recent price strength evidence of investors’ fears of a looming recession? What other evidence would support this? www.tradingview.com Crude Oil is Crying Crude oil has fallen as sharply as gold has rallied. Since the swing high to 89.85 on October 29th, crude oil prices have fallen more than $13/barrel - settling at $72.90 on Thursday. Price contractions of this magnitude are typically demand driven, which would be another feather in the cap of demand growth fears on behalf of market participants. But, how could you explain the recent performance of the S&P 500, Nasdaq, and Russell 2000? In short - interest rates. As we near what is expected to be the end of the Fed’s rate hike cycle, equities have performed very well in anticipation of rates eventually coming down. The primary reason that the Fed would halt rate hikes, or begin lowering rates would come as a result of economic slowdowns. Stocks Are Strong All in all, the American economy has proven resilient. The rally underway in the equity markets has been substantiated by strong economic data, and disinflationary CPI readings. The proverbial “canary in the coal mine” could be consumer credit and lower-than-normal personal savings rates. However, there are very few signs of a robust economic breakdown coming in the immediate future in the United States. Check out CME Group real-time data plans available on TradingView here: www.tradingview.com Disclaimers: CME Real-time Market Data help identify trading set-ups and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com *Trade ideas cited above are for illustration only, as an integral part of a case study to demonstrate the fundamental concepts in risk management under the market scenarios being discussed. They shall not be construed as investment recommendations or advice. Nor are they used to promote any specific products, or services. Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
COMEX:GC1!
by Blue_Line_Futures
BTC - Macro View 🌐Hello TradingView Family / Fellow Traders, 📈 Following the rejection of the 25,000 support, BTC experienced a significant 50% surge , forming another bullish impulse that confirms the ongoing upward trend. Consequently, we've identified and outlined a rising channel in orange. BTC is currently approaching the upper boundary of the orange channel, coinciding with the 40,000 resistance zone. 🏹 To sustain bullish control and assert dominance from a macro perspective, a crucial requirement is a weekly candle close above 40,000. Such a development would likely lead to a parabolic movement, aiming for the 50,000 resistance level. 📉 Meanwhile , considering BTC's proximity to a formidable resistance zone, there remains a possibility of bearish intervention, potentially pushing it back into a range reminiscent of the 25,000 to 30,000 range. This scenario's confirmation would depend on lower timeframes, especially if a bearish reversal setup is triggered. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Richard Nasr
by TheSignalyst
4
ebay is on sale 🛒Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 EBAY has exhibited an overall bullish trend , trading above the orange and blue trendlines. At present, EBAY is undergoing a correction phase and it is currently approaching a strong support zone 30 - 34 🏹 Thus, the highlighted red circle is a strong area to look for buy setups as it is the intersection of the green support and lower blue and orange trendlines acting as a non-horizontal support. 📚 As per my trading style: As #EBAY approaches the lower red circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
NASDAQ:EBAYLong
by TheSignalyst
3
JNJ - Macro View 🌐Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 JNJ has exhibited an overall bullish trend, trading within the ascending wedge pattern outlined in blue. It is presently nearing the lower boundary/blue trendline. At present, JNJ is undergoing a correction phase and is trading within the descending red channel. It is currently approaching the lower limit and a highlighted demand zone in green. 🏹 Thus, the highlighted purple circle is a strong area to look for buy setups as it is the intersection of the green demand and lower blue and red trendlines acting as a non-horizontal support. 📚 As per my trading style: As JNJ approaches the lower purple circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
NYSE:JNJ
by TheSignalyst
1
US500 - Break or Make ❗️Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. DAILY: Left Chart 📊 From a long-term perspective, US500 has been trading bearishly within the confines of a descending broadening wedge marked in red. Currently , it is approaching the upper boundary, which acts as a non-horizontal resistance. 📈 For the bulls to maintain control and assume dominance from a macro perspective, a breakthrough above 4420.0 is essential. Meanwhile , there's still potential for the bears to exert influence and drive the price lower. H1: Right Chart From a short-term viewpoint, US500 remains bullish; however, the momentum appears to be weakening as the recent price action has been relatively flat, occurring within the boundaries of the orange channel. 📉 For the bears to seize control and trigger a bearish scenario, a drop below the last low in the orange channel, around 4360.0, is necessary. Meanwhile , the bulls will retain control unless this key level is breached. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
CAPITALCOM:US500
by TheSignalyst
4
Charting Bitcoin's Game-Theoretical DynamicsUNDERSTANDING BITCOIN'S UNIQUE PRICE CYCLICALITY Since inception, nearly 15 years ago, Bitcoin's full price-cycle (peak to trough and back) has been patently agnostic to rate policy changes, liquidity events, inflation expectations, and all other macroeconomic news. This never-before-seen degree of cyclicality versus the surrounding macroeconomic environment is positively mind-boggling, not just for the NYFED, but for every one of us who has researched financial & economic history, professionally. BITCOIN'S ASYNCHRONOUS VALUATION MECHANISM However, when methodically inspecting Bitcoin's price-asynchronicity versus the deeply distorted and ultimately arbitrary pricing system, imposed by central planners to their benefit, its genesis becomes evident: Bitcoin has established an independent, if contemporary currency-valuation system, whose supply-demand dynamics are predominantly the opposite of our current monetary system's fictitious and constantly expanding Money Layers. In essence: "Levering upon its 100% demand-inelastic production vs its Layer I monetary role -as a final-settlement asset, Bitcoin's utility function is wholly independent of systemic financial variables- allowed Satoshi to game our instinct to preserve intrinsic value (rooted in scarcity vs hoarding behavior traits) in order to tightly pin its price to a ~1000-Day Up Leg vs a ~400-Day Down Leg, regardless of the fiat macro subset." CHRONOLOGICAL CONSISTENCY IN BITCOIN’S PRICE TRAJECTORY Thus why, when you split Bitcoin's 15-year price chart into 4 lines each for the halvings (blue) & their midpoints (grey), you find that each peak to trough cycle has pivoted up or down over the same time interval between each color pair. To visualize these dynamics, I drew blue verticals for each halving date and grey ones for each midpoint date. As the chart shows, Up Legs start about two years before halvings and end about one year after them, lasting about 1000 days. That is when Down Legs start: a few months before midpoints and they end a few months after them, lasting about 400 days, which drove me to conclude that by: EMPIRICAL FOUNDATIONS AND FORECASTING METHODOLOGIES From the first week of the analysis, I found the pattern had nothing to do with the Rainbow Charts or Stock-to-Flow Model others have proposed in comparison to Gold, whose fiat price hasn't been a challenge to manipulators ever since Volcker began raising policy rates in the 80s, which finally let COMEX Gold Futures truly start swaying Gold Spot prices. TECHNICAL ADDENDA: CONSTRAINTS AND RECURRING PATTERNS Up Legs until now, seem confined to return no higher than ~20% over the immediately previous high return, within their ~1000-day period. This has occurred persistently between the months before and after each halving. While Down Legs seem confined to a return loss no higher than 80% of the immediately previous high return, within their ~400-day period. This has also occurred persistently between the months before and after each Midpoint. Finally, here's why we can't just pick and choose the last +400 Day bottom. Until the "Latest Bottom" hypothesis is proven (at the end of the present cycle), we cannot firmly establish its precise date or price. All we can do is theorize its value ex-ante (via interpolating the last two ex-post time period samples -as shown in the excel sheet below). No alt text provided for this image. Ex-ante y and x values after line 35 are merely projections trained on the confirmed ex-post values shown above it. THE CHALLENGE OF FUTURE PREDICTIONS The above means that December 26th is not even the lowest price low, it results from averaging the total amount of days that elapsed as the last two ex-post lows were reached. The same goes for the price and date at the end of the dashed white lines, on the top chart. In sum, every one of the ex-ante y and x values projected by the dotted lines are merely projections trained on the confirmed ex-post values locked on top of the partial ellipses formed by the slope of the secants dropping off. AN ESSENTIAL WARNING Upon the above, please note that viewing this occurrence from a financial gain perspective betrays the prejudices that keep our society from considering what other forces move the universe. Instead, this evidence should compel our sense of wonder & unbiased search for answers & opinions. For instance, no matter the brainwash we've been taught about Economics through our lives, we're being played by an algorithm. Finally, even if the algorithm's author were to assure us his contraption is meant to help us own good, and all evidence seems to point that way, no one, except you can decide what that means for your financial futures.
BITSTAMP:BTCUSD
by bayesalgo
URNM: Immediate potential to 55+, but if price breaks 10w MA......I cannot rule-out one final macro-decline wave towards support area 25-20. I like the impulsive move from Mar. 2020 bottom towards Nov 2021 top, that had almost perfect match with the key Fibonacci retracements. Especially notice how Nov top at 51.75 coincides with 1.00% ext of wave (1) projected from wave (4) and near first key resistance zone of 1.764% (of w.(1) from wave (2)). Though the long lasting correction from Nov'21 highs doesn't look finished, due to advance from mid-term Jul'22 lows having yet only three waves, I still can entertain bullish (diagonal) set-up if price manages to hold 10W MA, consolidate around Sep'23 highs and break out above 50 resistance line (as per the green count). I also like how price got volume support while touching the 10W during local correction from the Sep'23 highs, showing that there is potential interest from institutional money around that area. Trading plan: I have entered initial long position, with todays break-out above the cheat pivot area of 44.75. I will be quick exiting with small single digits loss, if price will be able to follow through the following days. Important notice: Elliot waves and fibonacci retracements are a very subjective form of analysis and I don't personally trade out of them. I use them only for the purpose of gauging structural potential of any assets, that allows me to put more confidence when low-risk trading set-up emerges. Author's personal multi-years trading experience convinced him that analysis and opinion doesn't pay, only price pays and that one shall not ever argue with price.
AMEX:URNM
by artemfedorov
TSLA: Some more room to the downside in the near-termTesla has been a true market leader during up-cycles of 2013, 2019 and COVID 2020 market melt-up. It is a rare quality for a company to be able to re-invent itself (even more so several times) and be among next generation of multibaggers. This analysis highlights several technical scenarios of price development, providing key short and mid-term areas of support and resistance that needs to be held and broken to shift odds into favour of a particular path. I don't personally plan to trade this stock until price will be able to consolidate, providing a low-risk entry point. I can count 2023 move from Jan into Jul as an initial wave (1) in a form of a three wave A-B-C diagonal. Since Jul, price is in its final wave of correction - C - with an ideal support area at 197-174-153 zone as the end of larger wave (2) correction, or only the first wave A as per alternative yellow count. Having a closer look on wave C of (2): I cannot consider this correction to be over, until price is bellow 242 (the 0.618% c.i-c.ii). Until price stays bellow this area, I am expecting at least one more wave (c.v) deeper into ideal support zone. The move above 242, will force me to consider the correction of (2)/A to be over and re-analyse next resistance areas to the upside. A few words on macro-degree structure. I consider a macro-upside potential to 700+, because the move from May 2019 lows, still looks unfinished as the five wave impulsive structure, having only 4 waves in place. The macro-move and wave structure looks quite orderly with price nicely following key resistance and support areas*. If price moves bellow 153-128 support areas for wave (2), I will need to consider much bearish short and mid-term count being in place. Important notice: Elliot waves and fibonacci retracements are a very subjective form of analysis and I don't personally trade out of them. I use them only for the purpose of gauging structural potential of any assets, that allows me to put more confidence when low-risk trading set-up emerges. Author's personal multi-years trading experience convinced him that analysis and opinion doesn't pay, only price pays and that one shall not ever argue with price.
NASDAQ:TSLA
by artemfedorov
$GOLD -Where to Next! (TP1 Hit / ~16.000 Pips) *Game-PlanTVC:GOLD On the previous Quarterly Idea released as a macro/investor POV for TVC:GOLD , a *3M(monthly) area was given as an entry point in terms of market structure. We received a great entry on a Quarterly Level *3M. Salute to everyone of you who took action upon it. Sure did the members of bingX copy-trade community. " Where 2 Next for TVC:GOLD !? " -Fundamentally speaking, safe-heaven assets the likes of Bonds TVC:US10Y , MIL:BTC and TVC:GOLD have sky-rocketed recently and they are on a very desirable highlight right now. So did Crude Oil ICEEUR:BRN1! due to 'WAR' break-out from Israeli Occupiers towards the People of Palestine. The on-going 'WAR' or better said, Ethnic Cleansing, must be observed on the following week(s) to come. Upcoming week (the last week of October) is packed with GDP Q3/2023 reports from various countries, (US,EURO-ZONE,UNITED KINGDOM, GERMANY, ITALY) - TA speaking, a pull back in TVC:GOLD in terms of price action to S/R resistance + Recent Demand area would be very beneficial for uptrend resumption, in order for the TVC:GOLD market to test buyers and sellers . This level should hold, otherwise Changing Character at 1.910$ would suggest price to behave on a more steeper fashion , headed on lower areas at 'alternative SL trail' *D Level or even down further South. This scenario would invalidate the recent uptrend of 10%+ in 10 days on $GOLD. *** NOTE This is not Financial Advice ! Please do your own research with your own diligence and consult your own Financial Advisor before partaking on any trading activity with your hard earned money based solely on this Idea. Ideas being released are published for my own trading speculation and journaling needed to be clear on different asset classes price action.
TVC:GOLD
by Mr_J__fx
ADBE is coming closer to an important resistance Strong AI beneficiary, NASDAQ:ADBE , had a great move since Oct'22 bottom, advancing more than 100%, and is still in stable uptrend. What are the price levels long investors and traders need to be cautious about? My structural analysis of price dynamics shows that there is an important level of mid-term resistance in 590-625 that may serve as the topping area and lead to start of the correction towards important support zone 510-466. This support zone is the main crossroad between two counts presented. If 466 level will not hold under any perspective selling pressure, then macro-bearish white count becomes operative with lows below Oct 22 to be expected. If price manages to stay above this 510-466 level, then at least one more leg-up towards 680+ would be my main expectation. Another important cautious sign from the volume perspective, is escalating weekly distribution candle in Sep, with yet no contra-accumulation bars. It is still early and inappropriate to take decisively bearish stance, due to price being in supportive uptrend and not breaking any even short-term moving averages. The purpose of this analysis is to provide potential framework for important resistance area ahead for any long positions already established. The analysis is valid until price stays below 625. Decisive move above 625 will force me to reconsider and re-do the analysis. Important notice: Elliot waves and fibonacci retracements are a very subjective form of analysis and I don't personally trade out of them. I use them only for the purpose of gauging structural potential of any assets, that allows me to put more confidence when low-risk trading set-up emerges. Author's personal multi-years trading experience convinced him that analysis and opinion doesn't pay, only price pays and that one shall not ever argue with price
NASDAQ:ADBE
by artemfedorov
IMOEX Marco technical - One more massive correction or...? My macro work on Russian MOEX Index illustrates how ElliotWave in conjunction with major fibonacci retracements can be useful in providing the context or the operational frame work for every investor and trader to operate and execute one's strategy. Starting from the market Oct'98, we may observe how the price structure has accurately finished its cyclical five wave move lasting almost exactly 23 years to Nov'21 finishing its run just 2.5% bellow an proper (though extended) target for the cyclical wave "V". The EW theory, first elaborated by Ralph Nelson Elliott in 1930s, and later perfected to the most practical investing/trading principals by Avi Gilburt from elliottwavetrader.net, states that most of corrective structures develop in three waves: A-B-C. After finishing what I consider to be first cyclical macro five wave advance in Nov21, the price moved into deep and abrupt correction, straight to the ideal golden ratio (0.618) support zone where it is most typical for any correction (macro and micro) to establish a bottom. That was not particular to average character of the three wave corrective structures (being so abrupt), but the support parameters were met. Never the less in my global technical thesis, I still lean towards the macro correction from the Nov'21 highs NOT being complete and the price is yet to start its third wave decline to 1650 (double bottom) or even 930 zone. I am 55/45 on that regard. That being sad, I cannot completely rule out the possibility of price to have established long-term macro bottom on Feb22 and that we may be already in the very early process of the new (generational?) bull-cycle. As strange as it may sound in today's global political landscape, new macro generational potential for IMOEX, could be very much considered in the realms of several important circumstances happing in Russia: 1. Currency devaluation (bullish for equities); 2. Inflation (typically bullish for equities); 3. Internal barriers to withdraw capital (indirectly bullish); 4. Redomiciliation of large corporations and their capital; 5. Record interest of citizen to local stock market, resulting in record breaking numbers of new accounts opening on Moscow Stock Exchange. 6. Perspective budget deficit that will result in point #1 (bullish for stock) Macro parameter to differentaite between Macro-Bearish and Macro-Bullish scenarios is simple: until price is bellow 3700 area, macro-bearish case cannot be rule-out. The Mid/Short-Term Analysis Until price decisively breaks 2800, I cannot consider the mid-term bullish advance in either cycle wave "B" (macro bearish case), or wave (3) (in generational-bullish case) toped and expect at least one more wave up to 3370-3650 area in Q4 or Q1'24. It is yet early to consider that price has finished its Sep's correction at 3000 area and until price is bellow 3220 resistance zone, I expect one more decline to 2800. If price moves above 3200, than I will shift to yellow/green alt. scenario that wave 4 correction has finished and the price is on its wave to new 2023 highs.
RUS:IRUSLong
by artemfedorov
JBNK - Macro view is not certain, but break-out CaH on a Daily Weekly macro perspective has a nice diagonal pattern, that respects key support and resistance zones. Although it is hard to definitely state that primary wave 4 has found its bottom in Apr23 due to its relatively short timespan within the macro structure. But as I a low-risk trader I am not concerned with the overall wave pattern, but with what price and volume are doing in particular moment in time. That being sad, zooming in to the potential weekly handle zone, I really like how the pattern tightens and volatility subsides. 3 week tight closes in September also provides potential evidence for accumulation rather than distribution in place. Could be actionable above 1420, it the advance will be supported by volume and strength in overall market.
TASE:JBNKLong
by artemfedorov
DOGE - It is a Matter of Time ⏱Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. DOGE has been overall bearish trading inside the falling wedge pattern in blue and it is currently approaching the lower bound / blue trendline. Moreover, the zone 0.055 - 0.06 is a strong support. 🏹 So the highlighted red circle is a strong area to look for buy setups as it is the intersection of the green support and lower blue trendline acting as a non-horizontal support. As per my trading style: As DOGE approaches the lower blue circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Long
by TheSignalyst
16
Elliot Wave Meets Strauss-Howe TheoryThis chart is in "The Last Call" - a book by Elliot Wave International leader (and author of "The Wave Principle" book). Prechter uses a composite of PPI, British stock prices and US stock prices to create this chart. The count Prechter applies suggests we are nearing the end of the Grand Supercycle - a complete 5-wave pattern that extends back to 1715. Counter-trend retracements - corrections - always follow the end 5-wave patterns as we can see from this chart. So, therefore, the chart suggests are are due for a severe bear market as a continuation of the correction that has taken place since 2022. I have added to this, Neil Howe's view of generational "Saeculums" which represent turning points in history. There is a strong degree of correlation between the beginning and the end of the Saeculums and major turning points in the markets. Lets take this apart: The first big grand supercyclical correction as envisioned by Prechter ended in around 1780 - after the American war of independence ended and the international order started to find it's feet - near the end of Howe's first generational turning point. The "Civil War" Saeculum (which ended with the surrender of Robert Lee in 1865) coincided with a major supercyclical Wave 2 correction. The "Great Power" Saeculum ended with the end of the WW2 era - roughly the point at which the baby boomers were born - and this era featured the 20's boom, the great depression, WW2 and we can see Prechter has quantified this period as a triangle correction along supercyclical Waves 3 and 4. The "Millennial" Saeculum ended practically straight after WW2 and this was fundamentally fuelled by the Breton-Woods arrangement between nations and the rise of similar international agreements that helped fuel peace and, in turn, promoted economic growth. Prechter quantified this entire period as a supercyclical Wave 5 and, more significantly, the end of grand supercycle wave 3. Howe believes of course, that we are entering the "Fourth Turning". This appears to correlate with Prechter's view that the market is close to topping out here along a Grand Supercyclical Wave 3 and a Supercyclical Wave 5. A further point of interest is the wedge pattern that appears to exist from 1935 to present. In short, it seems that we are in the final throes of a cyclical blow off, a supercyclical blow off and a grand-supercycle Wave 4 correction. Okay, very interesting Shred! But how do we trade this? Wave 4 corrections on this scale have traditionally been horrible grinding patterns spread over multiple decades. Think about the sidewards grind of the dotcom bubble bursting and the housing bubble bursting on the SPX. The SPX effectively went sidewards over an extended range for 2 decades. This time, it will be on a much bigger scale. If you look at Grand Supercyclical Wave 2, it was a messy ABC zig-zag with an extended drift during wave B. So, we should look for a more grinding sidewards pattern (to create alternation) perhaps along the line of a large 12345 triangle move. An example of this is the triangle we saw when the markets crashed during the great depression. So, I will be looking for some wild swings and big declines spread over a good number of years combined with some big pops and extended bear market rallies. As far as the depth of the correction, Elliot Wave theory suggests a Wave 4 should be between 14% and 38% of Wave 3. So, this would equate to a full 14 - 38% of the gains seen since 1775. This would put markets roughly swinging between the 2022 highs and the 1975 lows over a significant time period (up to 100 years). So, not the total collapse of civilisation moment that some bears are (wrongly) thinking about. Not just a straight line down either as some bears are (wrongly) thinking about. Instead, the setup suggests a nasty grinding correction - just on a very big scale. So, by way of analogy, you should look to the Triangle on this chart that occurred around the point of the Great depression. Just on a much larger scale. To summarise... this means that we are not looking at a "Total economic collapse" and we are not looking at a "buy-to-hold market"... ...instead, the market will favour nimble traders who are willing to switch from long-to-short-and-back over extended time periods and potential hold shorts alongside longs and move from sector-to-sector. Please. Do your own research and always play safe.
TVC:DJIShort
by RogueEconomics
BTC - Macro Support 👑Greetings, TradingView Family! This is Richard, also known as theSignalyst. 🏹 From a macro standpoint, Bitcoin has been predominantly bullish, characterized by higher highs and higher lows. Moreover, BTC is currently positioned around a robust support level at the psychologically significant round number of 25,000. 📌 As long as the support at 25,000 remains intact, there is an expectation that the bulls may regain control at any moment. As per my trading style: I will be looking for bullish setups (like a double top pattern, trendline break, and so on...) to confirm the bulls takeover. 📌 However, it's worth noting that BTC still has the possibility of descending, potentially dipping into the range between 24,300 and 25,000, or even breaching this support level to the downside. 📉 In the event that the support at 24,300 is breached downward with a daily candle closing below this level, it could signal a significant and lasting shift in market sentiment from bullish to bearish. 📚 Always remember to follow your trading plan when it comes to entry, risk management, and trade management. Good luck! Remember, all strategies are good if managed properly! ~Rich
by TheSignalyst
27
Aug.15-Aug.21BTC(1d)Weekly market recapThe strong performance of DXY has had an impact on many financial assets. US stocks, gold, foreign exchange and crypto have entered a callback. Powell will deliver a speech at the Jackson Hole conference this Friday, and the content of the speech will determine whether the strong DXY will be terminated. In addition, the long-term fluctuation caused most tokens to dump last week. BTC and ETH almost covered the rise brought about by the BTC spot ETF. Many Alts came to the year-lows. Market confidence took a hit. Last Thursday, BTC experienced a sharp dump, successively breaking through the lower rail of the range 29000, and the given support level 28000 and 27000. During the course of the dump, trading volume increased significantly. BTC turns neutral on a large scale. After the dump, the bulls did not increase significantly, and the price remained within a narrow range over the weekend. BTC now is near the level of early June. There is an accumulation zone that will provide bullish power. Conclusion: There is a high probability that the fall has not ended. Although the bears have decayed, the bulls have not strengthened. So we came to this conclusion. We lower the resistance level to 28000 and the support level to 25000. If BTC breaks down to 25000, it will turn from neutral to bearish on a large scale. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
COINBASE:BTCUSDShort
by Sypool
1