US
EURUSD: Still Bullish. Price Action & Swings
Market maker this time outsmarted buyers who bought the breakout of a daily resistance
and sellers who shorted from that.
For now, for next week the outlook is still bullish though.
With the sequence of higher highs and higher lows, with our classic price action rules the market is still bullish.
From 1.203 horizontal support a bullish continuation will be expected.
I will look for intraday confirmation to buy it.
Good luck!
Time to press euro Longs EUR/USD has recently broken below some key technical levels of support such as 1.2050. Recent USD resilience could wane over the next few days as positioning in euro cleans up. Coming into January, many managers had the reflation bet on, which encompasses the long EURUSD trade. This trade caught them wrong-footed, and many managers squared out during a period of heightened volatility. The risk is now for a move higher in the euro as the consensus position has decreased in size. euro fundamentals remain bullish, albeit with some negativity around vaccine distribution. That said, global risk remains bid, and euro should be no exception to this tone. Across the macro landscape, oil is reaching yearly highs, the 10Y yield in the US is flirting with its recent upper bound, and gold is breaking down. The only signal that doesn't confirm the current reflationary landscape is the dollar. Many are calling this the start of the dollar move, but I would much rather fade this move with a tight stop. EURUSD likely rises to over 1.25 in the next few months. If I am wrong, we have a short stop and we re-asses.
Oil is Still a Good Buy at this PriceThe Price of Crude Oil has recovered after an awful 2020 year. With a new president elect bringing new sanctions, there is a lot to like about oil even above $60 a barrel. The massive decrease in supply due to the shutting down of the Keystone XL, will cause a continued uptrend overtime, similar to the one we are currently seeing regardless of demand (which is relatively low all things considered). As mentioned before while oil hasn't seen a huge relative shift in demand since late 2020, with airlines and cruisers opening on a larger scale as the corona virus vaccine is distributed in many first world countries, a continued adjustment of price is likely to follow these reopenings. Furthermore, with similarities in policy between Joe Biden and Barrack Obama, Oil could be worth $90 a barrel again by 2023. This of course would be a result of a full reopening which seems clouded at the moment by new COVID cases occurring, but a direct result of this is a slow recovery of the dollar and this is what allows for this thesis to be more sensical on a short term basis. Between inflation rates and economic scarring, as well as the fact there is a new stimulus bill on the way, the US economy is receiving large amounts of money inflow thus drastically chaining the value of the US dollar, while the impact may only be a small hitch to overall recovery of the dollar, the near term liquidity in cash across the US makes has made for higher prices across the board (Gold, equities, consumer goods). Yes $90 a barrel seemed unlikely/near impossible a year ago but things have changed since then and with new policies (may they be energy friendly or not) oil is bound to see a bounce. My projection would be $75 a barrel by the end of 2021 and possibly $85-90 by the end of 2022 be that if my thesis holds true.
February 22 NASDAQ US100 Chart Analysis
Hello,
“Make it simple, make profit”
It’s BitcoinGuide.
Don’t forget to
“Follow” me and press “Likes”.
If you "follow" press,
In real time, you can check major sections and move,
Real-time "update I dea" can be checked.
I will begin NASDAQ ZeroMarket US100 Chart Analysis for February 22.
This is a 30 minute chart short position strategy.
From the current position,
* Red path arrow,
Short -> Long switching strategy.
Stop loss break away the red support line.
The target value is the break through the green resistance line.
If not, short position switching.
* Sky blue movement path finger,
Long -> Short -> Long switching strategy.
Break through the green resistance line, stop loss.
Failing to break from the red support line moves sideway move.
Final blue support line / long position entry,
This is the major support line.
That’s all for today’s strategy.
I'll see you in the public analysis on Wednesday.
Thank you.
Why I Don't Fear A Market Crash...Check out the Coronavirus Crash on the Nasdaq Daily...
If you were to have rode this up from the daily breakout, you can can see the daily movement of each candle. As soon as I know the daily candle is falling below the 50MA I'm closing my position and locking in the profit. Then I'll wait and see where the market goes from there.
Individual stocks can bottom out like they didn't exist, but established indexes and ETFs like the Nasdaq for example, are not so easily tripped over.
NASDAQ US100 Chart Analysis February 19
Hello,
“Make it simple, make profit”
It’s BitcoinGuide.
Don’t forget to
“Follow” me and press “Likes”.
If you "follow" press,
In real time, you can check major sections and move,
Real-time "update I dea" can be checked.
I will begin NASDAQ ZeroMarket US100 Chart Analysis for February 19.
It's a 30-minute chart neutral strategy.
Based on the green support line,
It seems that the direction will be decided.
* When the red arrow moves,
Long -> Short switching strategy.
The stop loss is the green support line.
In the section in contact with the sky blue finger,
It looks like a direction will come out.
* When the sky blue finger moves,
Short -> Long switching strategy.
Stop loss when entering a short, red resistance line
When switching long, the stop loss is the red support line.
Likewise, in the spot where it touches the green arrow section,
Direction is determined.
Today's strategy will only proceed to this point.
Thank you again this week.
Thank you.
Shorts Only price broke into support and I waited for a pullback into supply zone, price pulled back as expected and I again waited for a sell confirmation... Price gave us a long/strong bear candle 7/10 times price retrace before continuing in it's expected direction. I will drop down timeframe and try to catch the move.
Stops and Target are made visible in the screenshot above. Have a profitable trading week.