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LINK - 50 MA bounce off or fall through 200 MA? Technical View LINK has a crucial moment approaching with the 50 MA bouncing or falling through the 200MA. Macro View I am taking a neutral position in the trade for the time being since I take the view that uncertainty in the equity markets will lead to contagion in crypto. The bull case for equities is for the passage of stimulus or a Trump win while the bear case is a Biden administration (higher corporate tax regime directly effects valuations). Further, to the extent we experience a coronavirus induced financial panic or liquidity crisis that it would lead to dollar shortages which translates into dollar strength and crypto weakness. I therefore expect shortly before or around the election for a significant uptick in volatility and a hesitation to go long crypto against a backdrop of substantial risk in the equity markets. Additional Thoughts First post - I have never traded on technicals and look forward to the learning process along with feedback from the community. I have traditionally been an investor with maybe 20% portfolio turnover every 6-12 months which explains why I am looking at a daily charts. I also tend to view issues through a macro lenses and hope to learn a great deal with respect to timing the entry/exit of trades using technical analysis.
BINANCE:LINKUSD
by adriatique
SPX relation with Stocks above 200D MA,70 selling & 24 Buying I did not like this a bit. I do not no way but it seems it was quite hard to analyse !. Even though, it is the 200d MA it gave tops that are not significant at all that's maybe one of its draw back. high opportunity cost. Or maybe it is not my day of analyzing :-). i did my best LOL. further examination of this indicator is needed. Also, do not forget that i might missed allot of tops & bottoms :-) wish you all the best.
SP:SPX
by samitrading
Massive Short Squeeze in CanopyCanopy is on fire today, and is up 20% plus on the week, off the back of optimism over the possible decriminalization of Marijuana in the United States. Last night at the Vice Presidential Debate, Kamala Harris made mention of the dems plan to bring this to fruition, should they win the election in November. This has the entire sector hot today, without exception, as one can expect. It looks as though we may hit the 200 day MA at 23.30 this week before we see profit taking, and the shorts re-entering. It's also important to note that we're nearing major resistance with the top of the downward channel a stones throw away. I suspect we may see a reversal of the squeeze next week once the bulls have achieved these levels. If there's enough momentum to pierce the upper downtrend line, and the 200 day MA, the upside could be massive, particularly seeing as earnings are not until early November. We shouldn't rule out the possibility of a broad market sell off, given the high number of potential catalysts floating around at the moment. This could heavily affect Canopy's price action, and the positive sentiment around it's valuation. I appreciate your time today guys. Thanks, Michael. If you like our analysis, please hit the Like button and subscribe to our profile so you don't miss our new analysis and updates. The information and analysis shared in this post is not financial advice. Always conduct your own analysis and research.
TSX:WEEDShort
by Hedge_Of_The_World
2
EURJPY Rising Wedge|Local S/R|.618 Fibonacci|Bearish DivergenceEvening Traders, Second Analysis – EURJPY – trading in a rising wedge formation where a breakdown is probable. Points to consider, - Price Action Bearish - Local S/R Resistance (.618 Fibonacci Confluence) - 200 MA immediate support - Oscillators Divergence - Volume Declining EURJPY’s immediate price action is bearish, trading in a rising wedge; this allows us to have a bearish bias on the market. Local S/R is current resistance which is in confluence with the .618 Fibonacci; price action is likely to respect this level upon first test. The 200 MA is immediate support, breaking this bearish will make the next trade location the 200 EMA which is in confluence with the .382 Fibonacci. Both oscillators have a valid bearish divergence, this is indicative of momentum shifting in the immediate term. Overall, in my opinion, EURJPY is a valid short with defined risk; price action is to be used upon discretion/ management of trade. Hope this analysis helps Thank you for following my work! And remember, “Win, loss whatever emerges in the short-term, place and manage your next trades untouched, unattached... always keeping your eyes on the long-term picture.” ― Yvan Byeajee
Short
by AzizKhanZamani
2
NZDJPY Daily S/R| Dynamic Support|Liquidity|200MA|Price ActionEvening traders, Second analysis – NZDJPY – rejection from Daily S/R currently trading in a small equilibrium with the dynamic support being the immediate target, Points to consider, - Macro Trend Bearish - Daily S/R Resistance - Dynamic Support Confluence (200 MA) - Oscillators Divergence - Volume Declining The macro trend is bearish with consecutive lower highs, price is currently establishing a probable bearish retest. This allows us to have a bearish bias on the market. The Dynamic support is the immediate target as this area has technical confluence with the 200 MA & EMA. Price is likely to test for liquidity in this region before a probable impulse up. Both oscillators are diverging, technical bearish divergence; this shows weakness in the market as price fails to break daily S/R. Overall, in my opinion, NZDJPY is a valid short with defined risk. Price action is to be used upon management/ discretion. Hope this analysis helps! Thank you for following my work! And remember, “The expectation that you bring with you in trading is often the greatest obstacle you will encounter.” ― Yvan Byeajee
Short
by AzizKhanZamani
2