afurs1

afurs1 Updated 

After breaking some critical levels and moving with strength into the resistance level, we are seeing some short covering as the squeeze has potentially trapped shorts. The previous run pulled back into the point of control, fib retracement into the golden pocket with some consolidation and potential to move higher if the dollar begins to make its way down.

afurs1

The dollar is approaching some strong resistance after a harsh sell off. Will the down trend continue or is there room for a potential break out? Currently biased to the downside, looking like a similar distribution pattern as seen not too long ago.

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Major confluence amongst major levels of resistance, DXY moving up, VIX reached a low point of support and starting to bounce. Only time will tell.

afurs1 Updated 

Were getting alot of conflicting information from the FED and the CPI report. Here are some main takeways: Although inflation is showing signs of peaking, shelter, food, and energy are still major driving factors contributing to inflation which will lead us to higher interest rates. I posted a play on the breakout from the symmetrical triangle up to the golden...

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Oil beginning to hang out a bit after an epic rip, seems like the lower upward trending support is starting to show weakness.

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Dollar has just been getting clapped over the last several weeks. We are moving down into a strong weekly support range around 100, potentially down to 98. We are also forming a descending megaphone wedge pattern, which could see a reversal. I personally think we might be moving down lower, into the cc golden pocket fib at approx ~98 give or take where we...

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Weve got some nice price action on BTC over the last few weeks as risk assets may potentially be sniffing out a pause in interest rates. Something interesting, last cycle after bottoming in 2017, bitcoin bounced into the golden pocket before taking a tumble. Can we potentially see bitcoin make a similar move in 2023 before the "pivot" crashes the market, and...

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The USD has been dumping after an epic run, back into support zones. I dont quite trade RSI (as its not as reliable) , but here we have a strong downtrend pulling back into support with a slight bearish divergence. ES and BTC have been moving relatively strong in the last few weeks... Well see how things play out.

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Crypto has seen a huge correction from the previous all time high a few months ago. My current thought process for this trade: Seems like crypto assets have become tied to the moves of the global markets. An easy indicator is to watch the correlation of the SPY as they seem to be moving in tangent, for now....

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SP500 potentially creating a falling wedge reversal pattern on the daily timeframe . Caution is advised as there is still some potential to the downside towards strong support around 430 range. Looking for a double bottom reversal pattern above 420-430 and bounce above the 200MA then move back towards the ATH . If it breaks below previous low approx 420 range the...

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Zooming out on the $SPY, falling wedge into a big support, however with momentum. FED to raise rates by 0.50%. Will we bounce? Only time will tell.

afurs1 Updated 

An update on my previous $SPY prediction, currently forming a bull-flag on the 2H. The idea behind this trade follows the falling wedge reversal pattern, accompanied with confluence from the bull-flag back towards all time high. A break and flush below support of the 200 MA, or below our bull-flag support would invalidate this idea. Avoid being overly bearish,...

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American dollar on the monthly time frame. Inflation is making other countries currencies bleed, increasing the DXY. Will we continue to see the dollar run?

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Markets have been bleeding since the beginning of 2022... According to the US Government and Federal Reserve we are currently not in recession. A strong labour market continues to hold up the economy, but will it continue or are we just delaying the recession expectation?

afurs1 Updated 

With all the commotions going on in the markets and global equities, naturally we have lots of fear in the market. One thing that I believe is in order for market makers to move prices and enter positions, they require a massive amount of liquidity in order to execute buy orders, and vice versa when selling. Let's take a look at SQQQ, an ETF that tracks the...

afurs1 Updated 

Bitcoin and most major markets have been trending downward for several months, and we may be seeing some signs of a reversal. Ascending triangle pattern on the 4H time frame we may see a quick pump up to my daily levels at approx $58k. Will we be able to sustain this rally or is there still more pain left? Only time will tell... Namaste!