PeterLBrandt

PeterLBrandt

The bear market rally in Bonds concluded with a rising wedge. The pattern would indicate a return to the lows, which is exactly what the Fed should force. The view that the Fed has turned dovish is incorrect. The Fed fully understands (or hopefully so) that a moderate or even severe recession is far better for the U.S. long-term than would be the cessation of...

PeterLBrandt

According to Edwards and Magee, Technical Analysis of Stock Trends, 1948, the expanding or inverted triangle is typically a bearish manifestation. While in the case of Bitcoin I do not think the pattern will produce a bear market, I do think that the advance from the early Jan low has gotten ahead of itself. I would anticipate a broad trading range at this time.

PeterLBrandt

I had wanted a better formed right shoulder for the H&S bottom in Bitcoin, but the current RS is acceptable. However, in that the RS is stunted, a breakout could then chop around at the neckline for a time.

PeterLBrandt

The chart of Gold expressed in Japanese Yen has remained in a very tight weekly closing price range of 7% for almost a year. The boundaries are clear as an ascending triangle. This is a trade I will lean into hard by buying Gold and either selling Yen futures or buying USDJPY spot in approximately equal USD values. JCB will continue to inject money into the...

PeterLBrandt

Whichever way this pattern is resolved should set the direction and magnitude of ensuing trend.

PeterLBrandt

Advance in Asia on Monday completed a H&S top failure buy signal

PeterLBrandt

Perhaps the decline on Feb 9 was the start of a milder correction. Perhaps it was the start of major correction or even the recommencement of the previous bear trend. Even if the decline was part of a milder correction, it is almost NEVER that just one hard down red candle ends the correction. So, at a minimum I would expect another hard down candle.

PeterLBrandt

The correct interpretation of the bottom in Bitcoin is a double walled fulcrum, bordering on a compound fulcrum. This is an EXTREMELY rare chart construction. The initial target of 25,500 is within striking distance, and it is EXTREMELY important for Bitcoin to reach this level quickly, lest severe testing the fulcrum could occur.

PeterLBrandt

Factor Prop account went long at the bear trap and we took what equates to 1/3rd profits at these levels. We will remain alert for a proper correction. Our long term target in Gold is 3,000-plus based on a monthly chart Cup and Handle.

PeterLBrandt

Bitcoin has been very predictable with multiple X advances followed by 80% declines and multi quarter consolidations prior to new ATHs and then another multiple X advance. I do not expect Bitcoin to run away to the upside, but rather work higher toward late 2023/early to mid 2024 when the ATHs are retested.

PeterLBrandt

The chart of $DJP, the Dow Jones Commodity ETF, if forming a descending triangle, which typically is a bearish manifestation on the charts, particularly when it occurs as a continuation pattern. I will take a short position here if a BO occurs.

PeterLBrandt

Prior to major moves, the Yuan forms basic classical charting patterns or formations. The USDCNH can be profitably traded using weekly charts

PeterLBrandt

The decline today has completed a massive H&S top in the FTX token. On a decisive move and close back above the neckline would negate this pattern.

PeterLBrandt

The advance in the U.S. Dollar Index from the early 2021 low remains very much intact. The monthly chart has an unmet target of 120-plus, so this for now is where I think the USDX is likely to go as long as the parabolic curve is not violated.

PeterLBrandt

The H&S bottom previous mentioned has now been completed. SHIB is in a bull trend now.

PeterLBrandt

SHIB/tether is forming a classical bottom pattern that could launch a very strong advance

PeterLBrandt

A continuation congestion is in the late stages for the Dollar to scream another upleg against the Offshore Yuan

PeterLBrandt

Whether from recent lows or slightly lower lows, Gold is preparing for a major bull trend. The weekly chart displays a massive multi-year Cup and Handle with a smaller Cup and Handle appearing in the Handle of the larger pattern. My target in Gold is $3,400.