SBUX
Why does USD become weaker?(Intermarket analysis)If you are looking at the chart of USD Index (DXY) and compare it with Bitcoin, soon you will realize that from March 20th 2020, USD gets weaker and weaker while Bitcoin getting stronger exponentially.
By looking at the growing list of major companies which accept Bitcoin, it is not hard to identify that US Dollar is loosing the ground to Bitcoin.
What major companies accept Bitcoin?
Major Retailers
Microsoft. Microsoft has been accepting Bitcoin for use in its online Xbox Store since 2014
Overstock. Overstock is currently leading the way in the shopping and cryptocurrency field
Home Depot
Namecheap
Starbucks
Electronics
Sleep, Bed and Bath
Twitch
Virgin galactic
Tesla
From technical point of view: USD has been in bearish Grand super cycle since 1971, when US Government put an end to gold standard. Last year, DXY broke below its EMA 200 and EMA 50 and it’s efforts to close above EMA 50 and trend reversal failed in the last 3 times.
I believe US Dollar is in a position that no one can help it to become strong once again, and accelerated money printing policy just help it sink more and more!
Moshkelgosha(Sniper Trader)
Flag Pattern on SBUX Let's wait for the breakout Today, we will share a clear trading situation we are observing on SBUX.
Main items to pay attention to:
a) Ascending channel: key structure of the bullish movement
b) Support Resistance Area: The price is above this level showing strength on the bullish view
c) Flag Pattern: Continuation structure supported on the Ascending trendline + Support zone
How to execute a setup?
We will open positions above "B," and we will aim for a final target on the 2nd fibo extension. We will protect our setup on the first fibo extension. Stop below "C". We expect a 30 days resolution if the price executes our order. Cancel if the price goes below the stop level.
Thanks for reading!
SBUX ER run up! New ATH coming?Peppermint mochas out of season? oh well Starbucks released 5 new drinks to start off 2021! Now with earnings coming up we could see a nice rally. Sitting at the bottom of my channel here, could see a nice bounce near 101 and break of the recent downtrend line to retest ath, break over 107 I can see 110. Trading plan annotated in the chart!
Starbux, everyone's favorite bean juice/drugJust broke out of weekly resistance. Last time this happened, it went 4x (where we are rn). If no lose high 80's prob gonna keep going.
Green areas are targets. Timing? I have no idea but unless people stop drinking coffee, im pretty sure your grandkids gonna be glad you bought.
SBUX to 110under 100 would invalidate this idea looking for a break above 103 and hold above that for an entry.
Safe play: 105C for 1/15 has the best liquidity for otm contracts nothing for 1/8 is appealing to me
Lotto/ day trade: 12/31 105C .13 (highest oi contract for otm weeklies) all weeklies for this have low volume
SBUX 9/29 Candle Stick Prediction Here is my daily candle stick prediction for SBUX. I will continue this segment as long as I am following SBUX and actively trading.
This is a prediction and not a guarantee. Please check out my SBUX to $88 before earnings technical analysis. A fundamental analysis is in the works! If you are watching Starbucks then follow this account as I will be actively updating my technical analysis and fundamental analysis. Stay tuned!