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BTCUSD - 100k but not an easy path..COINBASE:BTCUSD has had a fairly decent run this year and looks like it will continue. The path seems to be filled with decent Pullbacks to scare a few people but overall looking like 100k will be the major target for now. The multi year ABCD from the 2020 low gives us a target around the next major level of 80k. The question now is if this PB we had from Thursday is done or will we see one more move lower to the 382 from this move up around the 60k level. There are a couple of major turn points coming up that I will post. I will take a look at the shorter TF as well to give some levels to watch. US Interest Rate decision on Wednesday this week as well will move the market as well.
COINBASE:BTCUSDLong
by L_F
S&P500 - Possible Short Term Top in. OANDA:SPX500USD is looking like its in the end of the move higher. Thursday/Friday were very slow after the early week rally even with NFPs giving things a spike. now we look for Monday to give us some clues for the next move. Option 1 - We get a move down to 5320 before one more high up to 5400 area. Option 2 - The top is in on this run from the April low and we get a deeper PB down towards 5200 followed by another ATH around 5500. Option 3 - But less likely, it holds Fridays lows and we get one more run up to 5400 then a deeper correction. Things to watch going into this week with Inflation data Wednesday/Thursday and the next Interest rate decision out of the US Wednesday were they are expected to keep things at the same level. I will also post expected intra-day movements throughout the week. Enjoy the week, watch for Monday clues.
FOREXCOM:SPX500
by L_F
GOLD - Deeper correction coming!!FOREXCOM:XAUUSD had a nice $100 drop on Friday with a further correction likely of the next week, but with Inflation data & Interest rates this week it could get wild. Firstly i'm looking for a low to come in then I will look to Sell on the first decent PB. First target is the ABCD from the top @ around 2250 but then we could hit the 382 from the October low last year just above 2200. This is the key level for the bullish continuation. Enjoy the week. Shorter TF levels to watch posted later with points to watch this week.
FOREXCOM:XAUUSDShort
by L_F
DOW JONES - Completed Pattern. OANDA:US30USD While the OANDA:SPX500USD & OANDA:NAS100USD have been hitting new highs the DOW has struggled and has completed a Double ABCD Gartley pattern on friday and sold off into the close. Setting up potential downside targets of 38300, 37800 & to complete the bigger pattern @ around 37k. If we start heading lower on Monday then that could put the wheels in motion for the bigger correction. Big data out mid week will send it one way or the other. Enjoy the week. I will post shorter time frame areas to watch with potential intraday turns points.
OANDA:US30USDShort
by L_F
EURUSD - Key Area. Will the rally fail?OANDA:EURUSD Completed a small Gartley pattern on Friday, now we look for a rally to see if it's going to fail around the 1.0853-1.0880 area. There are bigger TF patterns that take it a lot lower with the first one down below 1.0600 and larger pattern below 1.0300. A move above 1.0950 could send it towards 1.1100 and even 1.1300. That's why this week is so critical to where we head next. I will post the weekly AI to see if we can find a CIT Window. Enjoy the week.
Short
by L_F
1
ETH - Getting close to Major levels. COINBASE:ETHUSD is moving towards some major levels in time and price. We have the equal time and price with the August 2022 high, April 2023 high giving us a potential high around the 17th of December. There are double 1.27% Extension areas from those previous 2 highs around 2300. The 382 from the ATH @ 2400 and if we break that then the 2600 level will be waiting with double 1.618% Extensions. Once a top comes in the retracement will be key to the next move. I will post smaller TF targets shortly. An interesting run into the end of the year might set up the course for next year. Enjoy the Week. 👍👍
COINBASE:ETHUSD
by L_F
2
SPX500 - Completing a multi year pattern FOREXCOM:SPX500 After this big run up from October last year we are getting close to some serious headwinds. The major ABCD Pattern comes in a little higher around the 5220 area where there are multiple smaller TF patterns completing. I will post them after to show target areas. This ties in with the DXY completing an ABCD rally. If that turns lower then this run might continue a bit longer. Friday after a bearish Thursday is generally Bullish so watch thos key levels around 5220 later this evening. A break of yesterdays lows will open up the possibility of more weakness and a deeper correction.. Enjoy the day.
FOREXCOM:SPX500Short
by L_F
DOW - At ATH's 38k next Target. BLACKBULL:US30 is sitting at the top of the move with what is looking like one more move higher into 38k before we see a decent retracement. In the smaller TFs there is a pattern setting up giving us potential upside targets. I go into more details of these levels to watch in my group. Once the high comes in we look at the retracement to see if its going to be bullish or bearish. But first we need a top, then we can go from there. I hope this helps. Enjoy the week.
BLACKBULL:US30Short
by L_F
DXY, GOLD & THE EURUSD - All coming together. TVC:DXY FOREXCOM:XAUUSD OANDA:EURUSD Are all setting up for the same move so we need to pay attention. GOLD - after going through the ABCD down yesterday it now looks as though its going to be headed lower to complete the bigger ABCD down towards 1920 and the next day or 2 will give us the set up. DXY - looks like it wants to push higher towards the 108-109 area. EURUSD - Will then follow the Gold and look for lower prices. The next couple of days are key and we also have NFPs Friday before the US Open which will give these markets a push either way. I hope this helps, Enjoy the week.
TVC:DXY
by L_F