GOLD BUY Gold had a sharp drop recently. Daily candle seems to be finding support at fib level. Small position due to every market bleeding recently ! Stop loss and take profit are both provided. Trade at your own risk !
Safehaven
GOLD Short ideaNote: Red lines are the Weekly levels
Black lines are the Monthly levels
Yellow lines are Daily levels
Your comments are very welcomed
Comment: **Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions
Yellow Metal Bearish DominationSentimentally it's a bearish dominated market at this point as big fish are offloading their some long position which can prolly lead price around 38.20% - 50% retracement level.
Another leg lower on GBPJPY? The Sterling has shed 15% against the Yen the past month due to the pandemic and flight to safe haven assets. We have seen a leg up of recovery for the sterling entering the 50% retracement area of this huge 2000 pip drop, but could it just be a fake recovery for reload sellers? I am watching this area price has entered now very closely to look for any indication that we are not over with the panic and could see another leg lower for GBPJPY.
Diary | 3/16/2020 | /SI SpreadJustification:
Directional Play: Yes, sticking to my thesis from a while back that gold and silver have room to pullback.
Technical: Long-term support and resistance level.
Fundamental: Contra to popular belief, /SI and /GC are not acting like safe-havens.
If/Then:
Take profit? 50% credit received
Where will you hedge? $16.15
Strategy Details:
Short and Long leg: $16.15, $16.5
Short Leg Delta: 0.15
Duration: April 27
Disclaimer:
This is a page where I look to share knowledge and keep track of trades. If questions, concerns, or suggestions, feel free to comment. I think everyone can improve (myself especially), so if you see something wrong, speak up.
EW Analysis: USD Index Slowed Down Into A CorrectionHello traders!
Today we will talk about the most interesting currency in the last month - US Dollar.
As you can see DXY made strong and impulsive recovery recently, mainly because all the assets were down due to panic across the world and also financial crisis, so investors are rather in cash now and that's why is USD so strong.
USD is currently down, but looking at the bigger picture, seems like it's just testing previous resistance area as a support here and the main reason why we are observing potential support is a three-wave a-b-c corrective decline from the highs.
As you can see, there's a chance of a triangle in the middle, which in Elliott wave theory occurs only in waves "b", "4" or "x" and in some cases even "y". So, if that's the case, then a recent decline from the highs should be corrective, because triangles cannot occur in wave "ii", which means that we should be aware of a limited downside and potential bullish reversal soon.
Of course, every analysis needs to be confirmed before you may act, so only if we see sharp and impulsive recovery back to 101 region, only then we can confirm a completed corrective decline within uptrend.
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USDCHF SELLwe have seen a very strong dollar this month, I'm anticipating dollar to collapse soon with the limited QE from FED and the price action for most USD pairs is well overdue a sell!
XAUUSD - GOLD Yearly viewWe are at a very interesting price point with gold and the worlds economy at this current time.
We have seen Gold prices reaching their highest levels since 2013 as all the big players have been accumilating the yellow precious metal. Where as silver has started to outperform the yellow metal, traders and Investors have began to realise the economic impact of gold as a safe haven especially with the impact of Coranavirus (COVID-19).
Effects of the rsing tensions between US & China trade talk, drop in stocks, treasury yields and IHS ecomomic data has provided a boost for the precious metal.
Overall, it seems the upcoming rally within the precious metal industry which also includes silver could be significant at the moment and not a opportunity to be missed!
As always... PATIENCE, CONFIRMATIONS, ENTRY, PROFIT!!
XAUUSD BULLISH FORECASTSup metal heads
Gold next stop is 1660, simple as that, follow the hegemony.
As always, keep the risk managed.
Cheers :D
InFiNiTy MoNeY to the rescueSupport retested, zone under the green green block proven to be a strong buy zone.
Bitcoin pumped on news that the U.S. Fed will be buying anything: www.cnbc.com
U.S. equities pumped in pre-market too, but retraced rather quickly. It's a bullish sign that bitcoin did not slink back under support following the news pump.
Things I am wary of:
- Bitmain 03/27 $5000 euro-style bitcoin puts
- March 31st Mt. Gox repayment plan deadline involving 140000 bitcoin
- Daily close under support
- COVID-19 affecting market sentiment
- Oil price war causing unpredictable fluctuations in US dollar's value (but can it get any much lower?)
SILVER - XAGUSD - Oh no, don't do that!Silver looking bearish. Escaped out of a either descending triangle or a symmetrical triangle, both are legit.
I feel pretty confident to say that silver is heading towards 8.87$.
Bitcoin is not a safe haven, Gold is not a safe haven and silver is not a safe haven.
EUR with their problems a safe haven?
USD printing trillions a safe haven?
CHF running into debth with COVID-19 a safe haven?
Stocks?
There is no safe haven...
Happy trading and stay healthy!
XAUUSD longs setting upMorning traders.
This is what i believe gold will do today but its next move, very strong impulse to the upside.
Another move measuring the previous impulse should be the current target.
As always, keep the risk managed!
Cheers :D
Diary | 3/17/2020 | /GC SpreadJustification:
Directional Play: Yes, sticking to my thesis from a while back that gold and silver have room to pullback. Long-term, could it go up? Potentially.
Technical: Between 20 and 50 moving averages.
Fundamental: Contra to popular belief, /SI and /GC are not acting like safe-havens.
If/Then:
Take profit? 50% credit received
Where will you hedge? $3.10
Strategy Details:
Short and Long leg: $1610, $1630
Short Leg Delta: 0.26
Duration: April 27
Disclaimer:
This is a page where I look to share knowledge and keep track of trades. If questions, concerns, or suggestions, feel free to comment. I think everyone can improve (myself especially), so if you see something wrong, speak up.
$BTC ShortI'm shorting $BTC on a nice retest of resistance and golden zone (61.8 -71 Fib). Target <$2,568
#safehaven
Sooner or later, Gold will try to challenge the All Time High.Gold which, the safe haven asset is however become the most interesting asset for all of the stakeholders during recession on the market. That's one of the attractiveness of gold itself. But, I need to say it again 1 more time that I don't give any fuck about any fundamental analysis of the market. I just believe in levels and the price action on technical analysis.
Based on the chart applied, we can see that in the last 2 months it looks like a very hard time for the price with a huge rejection toward the resistance now. But, I still see this as an ideal price behavior because the price is testing the golden pocket region. If the price can't breaks this region as a resistance, we could see the correction toward the $1300 region as the region which has confluence with the yellow support trend line and the previous broken resistance that is becoming support for now. If this level can hold, it will confirm a series of higher high and higher low.
Aligning with my above statement, I see a perfect example of the breaks out strategy of the price which has broken out of its bullish falling wedges with a retest action back at September 2018. We could see an extra bullish movement from the gold in the next 5 years to challenge the ATH or even make a new ATH of it. For now, just do the Dollar Cost Averaging and this could be a good investment.
Bitcoin long term thesisThe slope of each bull run decreases as liquidity in the system increases. The magnitude of all time high that is reached also decreases. Rather than a 15x from 2013 ATH to 2017 ATH, I would expect about a 5x ATH, or $99,000.
The next week should give us a better idea if the capitulation bottom to $3850 will hold, or if momentum will take us down to lower lows in a slower fashion. I am bullish and long here.
600 PIPs USDJPY trade ideaThis idea is inspired by Corona Virus fears in the US followed by strong analysis.
Running trade and profits are shown in a tweet posted on my account, look for the link in the comments.
** Support shown in Point #4 was tested on:
25 June, 19
24 sep, 19
3 oct - 8 Oct, 19
presents a strong case and price action movement around this level.
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Nice And Cleanwait for daily confirmation
like a Pin bar candle
or
Double Top
maybe Both of them :)))
then Get the Short position
Here is your store of value! In a macro sense the store of value concept for BTC is getting bullied by the big kid in school. Gold shows of its true value during these times and is as stable as my mothers love <3.
Yes BTC is still a teenager trying to find its place and needs to develope a bit more before it can play with gold for real.
While we all can utilize BTC volatility, we need to learn how it behaves so we can be all gain from its development.
One thing I learned about BTC is that it always want to outshine your expectations in both directions!
BTC tried to break above the 1,6 fiblevel and the red flags were up that we would most likely bounce down to the 3.2 fiblevel. I did not want to believe my own TA. We have the halfing coming up damn it!
The result, we bounce of the last 4.2 fib-level.... SO FAR!
What does this tell us? BTC is no longer a safe have and is very much connected to the remaining financial instruments in the world. Did it crush your dreams? Like if it did!
Where do we go from here? Short answer, to 3.2 level at 6800 within days! Why? Because we all love volatility and fibblevels!
