Psytropy

Psytropy

Idea primarely based on different "time" indicators. Additionally based on todays price action, even there are still lots of people short I believe we topped out Gold for a few days at least and should see some downturn momentum. Fundamental says "Iran wants to ease tensions with Israel" ... Russia is anyways priced in. PMI was kinda bad but I guess, already priced in?

Psytropy

GBP published PMI data which, while was lower as predicted, shows that their economy is still kinda growing. Looking at the monthly chart you'll see that we keep creating wonderful high lows which leads me to the conclusion that we will attack the higher range of the current monthly swing.

Psytropy

Based on the prior price action, people are desperate to finally see some green candles. Psychologic wise they might think "it can't get even lower, it needs to reverse now". However, especially USDJPY is one of those pairs who tend to be a brutal liquidity seeker. Based on the news events this week, I believe there is a nice chance that we see a bounce, but from...

Psytropy

Daily liquidity taken. Time for a retrace which should hurt. We're still too bullish.

Psytropy

My bet is that people FOMOd into the current fake bottom and will get stopped out before we might actually see an uprise. Besides of that, weekly lower highs, daily lower highs - wouldn't it make sense to retrace near the bottom of the current swing if we really want some upswing?

Psytropy

Based on the new economics data we received the past week I expect a further dump for BTC at least till the FED rates day (19th). However, based on the all-in short mentality by traders, I expect some nice spikes during that time.

Psytropy

We still didn't see the bottom yet, however I expect a little fake pump before further sliding down since it's friday and we swept a weekly swing low. No science needed.

Psytropy

Storyline: CFO sold shares + (bad economic data incoming?) Chart: Weekly high broken, retrace due as usual. Question: Was that whole pump really reasonable? You can bet that the majority of retail investors bought (as always) on the very top during this wonderful pump and now just patiently waits to feel the real pain of retracement. I doubt in general, that...

Psytropy

Hello everybody. Storyline: Elon for President? You can bet that Tesla will pump if Trump wins the elections. Besides of that, rising china sales, unveiling the robotaxi etc. pp. There are many things imo which speaks for Tesla while the masses brag about his political views. Market: Decreasing rates, good looking economic data for the US at least. Chart: Keep...

Psytropy

No higher high, topped out on a monday and built a beautiful obvious uptrend. Flush it!

Psytropy

While technicals and all that stuff speaks for a further down move, I have to trust my fundamental idea of rate cuts and the missing retail pump as well as the fear & greed index which turned bearish back again.

Psytropy

I mean... expect the unexpected right? Monday seems to have topped out the whole move while wednesday could be a potential conitnuation. Where would be the biggest pain point for longs? PS: Prepare yourself to work with broader SL here, $78 is as well in play. But I like this current situation since I know that the majority is obviously long cause of our daily...

Psytropy

We broke below monday low, reversed, still didn't break prior weekly high or low so I anticipate a move up to show us the true colors of Gold.

Psytropy

Dozens of Euro Shorts trapped due the past weeks and months of constant negative news. What would be the worst scenario for them? Wicking 1.11386. Sentiment still bearish asf. Aiming for 1.11750. It's wednesday. We love to wick on wednesdays and thursdays.

Psytropy

Since people anticipate "emergency" rate cuts and the european economic growth still looks kinda stable (we all know it isnt) I am still bullish on EURUSD.

Psytropy

Alright ladies, so I think my pic says it all. Not looking for longs until we take out that juicy liq trendline. Our last swing low should have taken us to a new higher, however, since we deepdived way toooooo low for my feelings, I see way too much obstacles now for us to climb back again. So... yep. Not saying we wont get another push up but I'm bearish and will...

Psytropy

We bounced from a key area (green line) and are now trying to get past the weekly trend. As long as we do not create a lower low below my current marked daily swing low, I'll stay bullish, especially since the whole move comes more and more to a standstill, so I anticipate a bigger move.

Psytropy

Even I'm bullish in general on gold I don't like how we still can't stay in the green zone (weekly) of el dorado. Time is running up so I'm leaning into bear character and expect a retracte to at least 1967-65 area. Experience showed me, that if too many people will like this post, it'll most likely won't work out, haha.