Are you going to see a downside to DXY?
I see a clear H&S on a daily / Weekly timeframe. If that is about to happen, we should see $DXY down to 101 where EMA 200 is now.
I got into a Long position for $EURUSD pair , with a low amount of money until I see that right shoulder complete.
Not financial advise, just an idea.
P.S. This might affect $BTC as well. When...
Looks like it formed a Head And Shoulder pattern. To confirm it, it has also a double top in the Right Shoulder.
Both are bearish patterns.
TP set for .70499, just to play it safe. It could go down up to .7025.
Have a great day and don't forget to set you SL.
CURRENCYCOM:OIL_CRUDE
Looking at this chart, we are about to do a move. But where? up or down?
According to TDIGM indicator we are squeezing and all 3 lines are at the same place, touching eachother (insert creepy smile gif here). Normally, that indicates a breakout.
Counting with Elliot waves I would say down, but maybe i'm wrong and i'm not seeing other...
Another idea that might play out.
On the short run, both gold and btc went down and reached some support levels.
At this point it could go either up or down, but i would lean more towards up.
Here is why:
1. The COVID situation is not over and we should expect wave 2 of infections.
2. During this time money will be secured in assets : GOLD is the most preferred...
This is just an idea, not a financial advise.
I am new to this, so I am trying to identify possible moves based on patterns, Elliot waves and on the news / activity on Twitter.
I have big expectations from this project.
