WhiskeyTangoFoxtrot3

WhiskeyTangoFoxtrot3

Overall on US markets, I am skeptical but open to bullish sentiment. The question is, how do we get past record highs? First though, how do we even get past this DJI resistance? The answer to both could be trade war detente. Okay, but what happens if we have a detente, which won't happen at least until June as reported yesterday, and there's no rally? We could go...

WhiskeyTangoFoxtrot3

Brexit and fundamental data are the most important components of EURUSD, but these long-term trend lines are probably impacting as well. Economic sentiment that came out on Tuesday was quite lackluster, pretty much like the overall EU economy. No more event risk this week other than Brexit. I wouldn't be surprised if the downtrend is extended, but my bias to...

WhiskeyTangoFoxtrot3

Volatility in either direction is lacking because markets don't know what is fully thrusting them forward right now. Something like the Shanghai Composite is much easier because its more based on speculative appetite than fundamentals. Even if you're a bear though, we have at least about 1 or 1.5 percent more until we hit a level of resistance below the record...

WhiskeyTangoFoxtrot3 Updated 

The short-legged doji today tells us that the in general upward rally has come to an end as the Fed may signal doveishness, but moderate doveishness. IG says clients are net short, but only slightly. It's clear the trend is up, but is Chinese growth picking up again or are we just hoping it picks up again? I'll scalp a three percent short and sleep easy at night.

WhiskeyTangoFoxtrot3

Oscillators are suggesting a bit of a setback and I expect the current upward short-term support to be broken. That said, if the in general trend of crypto growth continues then EOS is one of the best cryptos to be diversified into.

WhiskeyTangoFoxtrot3

Some technical oscillators are suggesting overbought, but others not so much. The Fibo retracements suggest a strong resistance level. Overall, I want to see the DAX get above these levels if we expect this upward wedge to continue.

WhiskeyTangoFoxtrot3

Nikkei 225 is a bit tricky. Good fundamental data out of Japan such as dovish monetary policy, but weak export figures which is why its down today. Technically, we are well above most exponential moving averages, but stochastic reads overbought while momentum suggests we are still headed in an uptrend. Overall, not enough signals for one way or the other.

WhiskeyTangoFoxtrot3

Short-term short, but overall I'm still positive on this index. That said, this can turn ugly very, very, very quickly as the Shenzhen is the most speculative index in Asia for sure, maybe even the world. Definitely the highest volatility. So, if we do see a short-term pullback, this could quickly be followed by 5 percent gains on the day that the US and China...

WhiskeyTangoFoxtrot3

Sure, you may be able to get some small gains upwards, but that next Fibo level will be impossible to break through. Keep in mind, most the analysis you'll see uses extremely short-term charts at the hourly level. I'm still amazed there are still people throwing their money away on this particular crypto while the options for gains are so much better with returns...

WhiskeyTangoFoxtrot3

RSI and Stochastic flash overbought, but we are past resistance, and overall growth sentiment is shifting towards the positive side with an extremely dovish Federal Reserve. I think we may see a a bit of a pullback in the next day or two, but overall my sentiment is leaning long.

WhiskeyTangoFoxtrot3

Keep an eye out for when mutliple Fibo retracements coincide with one another as strong reversal levels. Overall though, the sentiment for this pair is still negative.

WhiskeyTangoFoxtrot3 Updated 

The Shanghai Composite completely ignored resistance on the way up over the past few months. Now, it is poised to ignore support on the way down even in the event of a US China trade war deal. The prospects of a deal have already been baked into the cake as they say with RSI still dangerously close to overbought and MACD also on the cusp of signalling a top. There...

WhiskeyTangoFoxtrot3

Volatility is decreasing as the trend upwards slows down. I think there is large potential to the upside as the US-China trade war comes to a detente. However, many resistance levels remain in the way before that can happen. On the other hand, the index quite easily blew past previous levels of resistance with no problems. Want to see more talk towards trade war...

WhiskeyTangoFoxtrot3

Never buy resistance, never short support. I want to see this index get over 26190 for me to be a bull and the fundamentals are not all too convincing. Yes, China trade war is concluding in all likelihood, but then what happens if Trump decides to go after Japan or Europe on auto tariffs? We already know he doesn't want to quit these trade fights as seen with...

WhiskeyTangoFoxtrot3 Updated 

Last week, the UK’s Prime Minister May lost in Parliament trying to pass her Brexit deal, then in a head-spinning act of cognitive dissonance Parliament passed a bill asserting they did not want a no-deal Brexit. Then, quite predictably, they passed another bill telling May to go to the EU and ask for an extension. While the politics of this are a bit intrinsicly...

WhiskeyTangoFoxtrot3

Want to start this out by saying I have incredibly skeptical of cryptos. That said, Litecoin is definitely the best performers of most of the majors on a percentage basis. So that said, I think price action could in the medium-term see a few more gains if this trend can continue. However, RSI and stochastic indicators are leaning towards a pullback flashing...

WhiskeyTangoFoxtrot3

BTC is creeping up over the past few months, but lets keep some perspective. In 2017, the price topped out at $20 k and dropped to $7 k in three months. That volatility in financial markets makes Bitcoin one of the largest financial bubbles in history. Then, we dropped from $7 k to $3 k in another year. Sure, BTC is creeping up lately, but at the end of the day...

WhiskeyTangoFoxtrot3

DXY is effectively the inverse of EURUSD as it is mostly weighted towards this pair. Its commonly understood that DXY strength is mostly predicated upon euro weakness. I forecast EURUSD to weaken and in turn DXY to strengthen. Fairly simple since the fundamentals trend this direction. A US-China trade deal that includes the Chinese buying more US goods also...