MrRenev

MrRenev

The US has a plan to beat inflation: by creating more inflation. Official announcement, no joke. The "Inflation Reduction Act" is a brilliant plan to burn hundreds of billions of US Dollars in order to reduce inflation. And... it's working... Wave 1 and 3 are both around the same size at about -25%/-30%, and I believe wave 5 is going to either be of a similar...

MrRenev

Hello There could be a triple bottom on BTC. Do these work? What is the risk to reward? Unfortunately there are not that many examples, nothing very statistically significant: So the previous one becomes: If you lose, you lose really fast. And that's all I have. Not triple B's before that. You could find more examples on lower timeframes. You could...

MrRenev

First, road to 10K. Then road to 0K. Past 20,000 there is no support for a while. Must be stressful. Things are looking really bad. And the eternal, boringly repetitive crowd is accepting this as a bear market. Bottom (temporary) must be close. Maybe price returns back to the mean. It's only down at 5K. And maybe a solid bottom would be a good time to buy,...

MrRenev

The USD is pulling back, the USD pairs uptrends are taking a break, and USDCAD is no exception. Economic numbers are not that bad and investors are being a little positive, but haven't we heard this before. Until proven otherwise this is just a pullback. The Canadian dollar is also remaining weak even with expensive Oil. And Oil price chart is looking like your...

MrRenev

Technical: Bottoming pattern. Volatility is increasing (ATR). Nice triangle too (check the chart down below), it's not in a trend but it has to break at some point right? This may happen soon (in the coming weeks). Oil is falling, in a C leg now (or could end up being a double bottom). And the USD index is about to break 100 for the first time in 2 years. The...

MrRenev Updated 

It has been nearly 2 months of range. If you have been making money in these markets you probably have been doing something wrong. The ??? never lasts forever. Some pairs are not in a clear range like this, but I can't extract anything out of them, and some not being in a clear range shows that you can't even make money fading since you do not know which pair will...

MrRenev

Back in December 2017 the share price of this huge conglomerate of retail stores crashed. I posted about it in April 2018. Not sure if many people are interested (and this is one more reason why this is good, few people were interested when Gamestop was trading at $3, many were when it was at $300). The direction got accused of fraud and for some magical reason...

MrRenev

If you too are fed up of catching so many losers AND missing out winners then here is a suggestion. I don't give much attention to some setupds that sometimes end up really good, and I insist with setups that catch my eye but are really not that great. The solution is first of all to pay attention to the markets (and charts) every single day, and second it is to...

MrRenev

And it is back! > Biden re-nominates Powell as Fed chair, praising the progress made in the USA *********************** Biden said "we’ve made remarkable progress", and the US admin mentionned the improvement in unemployement as well as economic recovery, shutting down voices of opposition within the US central banking community. No change in direction, we can...

MrRenev

I think the top 5 of US stocks that went up the most is made of Moderna (MRNA) and 4 energy companies including 3 Oil companies. The typical big tech stocks did not do that well. Google is up 70% in a straight line. AMZN & AAPL that broke new highs (notably in price and market cap) have not gone up compared to the rest. The best indice is France CAC 40 which was...

MrRenev Updated 

The greedy pigs (that sounds so violent lol) might be very close to coming back. Pig is what are called greedy gambling type "investors" that join at the top of bubbles, not my word. "Bulls make money, bears make money, pigs get slaughtered", an old Wall Street saying. I recently saw a man talking to a homeowner outside not too far, asking him if he knows someone...

MrRenev Updated 

George Soros said "Most of the time we are punished if we go against the trend. Only at inflection points are we rewarded." Even if we go with the overall trend on a pullback, we are going against the short term trend, and this is very punishing if done mindlessly. Cruel game, I have to be patient all the time, wait months, and then I might have just a few hours...

MrRenev

The market heard me, I was starting to be really pissed and complain about nothing happening and boom. 69k Bitcoin of course, Gold exploding, other FX short term positions deciding to go somewhere. The 4 hour candles might just be a 1 time thing, a bait, market loves to do this "hey i'm moving" followed by "just kidding back to swinging up and down randomly". I...

MrRenev Updated 

In my "Copper could go to $8, $20 even" idea published on March 13th I explained I was looking to buy copper, and expected it to go up over more than a year. I wanted to see the price consolidate over a longer time than what it did and ideally closer to all time high. It is still possible that it will, just like gold did, after going up significantly above ATH,...

MrRenev Updated 

Pushing the price up: - High demand for EVS, renewable energy production, the Green New Deal, means copper production is below demand and expected to be in shortage for years - Stimulus spending and inflation of industrial goods - Producers cannot increase supply fast enough, examples: Freeport CEO "It will take 7-8 years to get new production to the market",...

MrRenev

Hello. I talked about Copper back in March, and then in May, ideas linked below. It has been 6 months, and after patiently waiting well here we are. From a "George Soros investment tips" article: "Short term investing, it must be stressed, is not like day trading. Day trading is really kind of a myth. You can’t just sit at home, follow stock trends and expect to...

MrRenev

The predictability of crowds. Well this is not something that slowly started. I probably mentionned the history of fake news at some point, and I hzve an article as draft about it, 1 example is a fake news thatsent UK stocks up 5% in minutes centuries ago. This right here is not fake news, but same principle: price is probably not correlated to reality, it's all...

MrRenev

I don't master this subject, I don't have much to write about it, so this will be short. This is how trends work in life, and there are real people that get paid to study this: The people that study crowds compare behavior to sheep a lot. Talking about sheep do you know these guys came up with mecanical sheep that they can activate (run in a direction) to move...