I'm really biased for a GBPSEK long in the coming months, but the downward retracement pressure is too great to ignore... tinier and tinier higher lows and progressive lower highs...
Hodling is an irrational concept, not just for millennial cryptocultist but also old school comms hoarders. This chart shows it is going to get worse, at least lose half of it's current value before rising. So much for hoarding and that the intrinsic value of metals would simply keep rising by magic and make someone rich. The chart is similar to the crypto charts...
Gold has been a hard call. The levels are 11.4 and 38.2 fib levels. So am simply calling a short trade between those levels.
Just fun stuff looking at my local currency
Just showing my levels, if it doesn't halt and turn around at 21,900 a ghastly 17,000 is the inevitable next stop. I'm not plucking arbitrary levels out of thin air though, lol, there is a basis for those levels. Time will tell if they had any significance.
This has been my biggest surprise, that ETH is heading to 400, since the same technical method shows that BTC is heading up to 1255. Very curious indeed. I simplify the charts but there are other elements and clues that I use i.e. oscillators, MAs, Parabolic SAR, Zigzag, chart patterns, cypher patterns and ratios etc . I find it hard to understand why they are...
Short with minor retracement overall outlook in the near term is short
We have all been waiting for the resumption of the bull trend but it seems the bear run has only been accelerating and perhaps we are about to see galloping leaps for the bears going ahead.
This is one of those trades you setup a pending order and try to forget about it.