ABBOTINDIA - LONG ENTRYThe Stock takes support on weekly basis, where it faced resistance previously.
On monthly chart it created a hammer candle on the support zone.
Good Swing Entry for a couple of months, hoping to see new all time high
Trade Details:
Buy Below : 19600
Stop Loss : 17300
Holding Period: more than 2-3 months
Weeklymarketsanalysis
Gold weekly analysis: The USD in under pressureThe dollar has posted its worst weekly performance in five months as it closes out the week.
China's gross domestic product (GDP) is higher than expected is at the top of all of the other happenings this week.
We will be keeping an eye on various data points throughout the week.
It was the largest weekly loss in the general index of the US dollar since August of last year when it closed the trading session on Friday, the 14th of January, at levels of 95.14, after testing its lowest level in two months at 94.60 midweek, as the US dollar ignored all the news that supports the speed with which the US Federal Reserve is tightening policy. Because of his monetary policy, which includes raising US interest rates more quickly during the current year and raising expectations that what will raise interest rates four times during the current year rather than three times as previously expected, interest rates are expected to be submitted four times during the current year.
At the beginning of the week, statements by US Federal Reserve Chairman Jerome Powell reinforced these expectations, as Powell stated in his testimony before Congress that the US Federal Reserve must raise interest rates quickly to counteract the effects of accelerating inflation.
According to the most recent figures, the consumer price index in the United States of America increased at an annual rate of 7 percent in December, compared to 6.8 percent in the previous reading, in line with expectations for the fastest rate of inflation growth in 40 years. In November, the consumer price index increased at an annual rate of 6.8 percent, compared to 6.8 percent in the previous reading.
The dollar did not benefit in any way from all of this, and despite the positive news that dominated most of last week's sessions for the US dollar, the dollar continued to decline sharply. However, I believe this can be explained by the beginning of the year and the construction of new centers, especially given the high expectations of pricing an opportunity greater than 90 percent. Moreover, according to the FedWatch CME Group tool, what will raise the interest rate in March, and it will be presented a total of four times during the current calendar year, starting in March.
One of the most recent data released last week was the December retail sales data from the United States, which came in below expectations and disappointed as sales fell by 1.9 percent in December, raising concerns about the economy and rising inflationary pressures on consumers spending.
Aas fundamentally the USD is under pressure, so the gold still has chances to go upside in the coming days. Check out the H4 chart to better understand.
What is it that the markets are looking forward to this week?
Several important economic reports are expected to be released during the sessions of the current week, and the markets are anticipating them. We began the day with data from China's growth and retail sales, which were released during the Asian session, as well as minutes from the Central Bank of Japan's meeting, inflation data from Canada and the United Kingdom, labor market data from Australia and the United Kingdom, and manufacturing data from the United States of America.
Data released by the Chinese National Bureau of Statistics in the Asian session today, Monday, showed that the country's gross domestic product (GDP) increased by 4 percent in the fourth and last quarter of 2021, exceeding expectations of growth of approximately 3.7 percent.
On the other hand, retail sales fell short of expectations, with annual sales growth slowing to 1.7 percent, down from 3.9 percent in November and expectations of 3.8 percent in December.
On the other hand, industrial production increased by approximately 4.3 percent in December, compared to a growth of 3.8 percent in November, exceeding expectations of a gain of 3.7 percent, while the rate of investment in fixed assets increased by approximately 4.9 percent.
The Bank of Japan is featured prominently on the front page.
The Bank of Japan is expected to announce its monetary policy tomorrow, Tuesday, during the Asian session, with expectations indicating that the Bank of Japan will maintain its monetary policy and interest rates at -0.10 percent.
The sharp rise in the value of the Japanese yen over the past week may explain why the Bank of Japan has hinted that it may impose strict measures shortly, particularly in light of the rise in inflation in Japan, which is in line with the global trend.
On the other hand, Japanese bond yields saw significant increases last week, with the 10-year bond yield reaching its highest level in more than a year on concerns that the Bank of Japan will tighten monetary policy shortly.
We will keep an eye on various data points throughout the week.
Today, Monday will be a trading holiday in the United States observant of Martin Luther King Day. At the same time, manufacturing sales and the Bank of Canada survey of business outlook will be released from Canada in the late afternoon and evening.
During the Asian trading session on Tuesday, the Bank of Japan will announce its monetary policy, while during the European trading session, we will be looking at data from the British labor market, the ZEW index from Germany, and the Eurozone, and during the American trading session, we will be looking at the Empire Estate manufacturing index from the United States of America.
Thursday's economic calendar includes inflation data from the United Kingdom in the European period and Canada in the American session and statements from Bank of England governor Mark Carney at the end of the American session. On Wednesday, inflation data will be released in European and American sessions.
What will monitor Thursday's labor market data from Australia (unemployment rate and change in employment) in the Asian session? At the same time, the European region will release the final inflation reading in the European period - in the American session, the Philadelphia manufacturing index, weekly unemployment benefits, and home sales will be removed, among other things.
The final session of the week is on Friday. The Bank of Japan meeting minutes will be released during the Asian session, and we will be keeping an eye on retail sales in the United Kingdom and Canada during the European and American sessions, respectively.
Weekly Market AnalysisHi there!
In this video, i share my areas of interest for the week of 17th January 2022, Feel free to comment, its my first video on this platform, but i think this is a great way to improve my own trading and help my to articulate my reasoning to take a trade. It seems the more I share the better my trading performance is... which doesn't make sense to me, but if it works, it works! lol
Feel free to share your thoughts and lets kill these markets!
Outlook of the Major Forex Pairs for 17-21 JanHello Folks!
This is my weekly outlook on the some major forex pairs that i trade most of the times.
Overall the USD looks like is gonna be strong for the next week while other pairs is gonna decrease against USD.
This is not financial advice, please DYOR before u take a trade.
Swing Trade for COALINDIALong Entry for COALINDIA: at a support zone in the trend line, being followed from October 2020. In weekly chart, we also see a long lower tail candlestick at the trend line support zone on the week 20 Dec 2020.
Buy between - 146-150
Stop loss - 138
Holding Period - 2-3 weeks or longer
Note : If you risk to trade this idea, you alone will be enjoying it's profit as well as the loss, if something goes wrong.
Happy Investing :)
BTC closed around 46.6k and looks good to me on weekly chart!!Technical Analysis: Bitcoin (Weekly chart UPDATE):-
BTC closed around 46.6k and looks good to me on weekly. We might see a wick down to liquidate the remaining longs and push to the upside from there.
Reclaiming the 50D MA is what BTC needs in the next candle close. btc make an ascending tringle and its playout very well, btc now down at lower support and try to rebuild another leg upside and RSI also making bearish Divergence which playout right now as well as retested the pervious trend line !!
First time since 27th April 2020, Weekly Candle Closed Below the MA50
Now, All Eyes on 44k Crucial S/R Level
If Bitcoin Bulls lost the 44k S.R As Well, Bitcoin Might Retest the 29k Support in January 2022.
In Bullish Case, If Bitcoin Remains Above the 44k Support, Bitcoin Might Bounce Back towards the 60-61k Area
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Weekly Line Chart DivergencesHello traders,
I am not a financial advisor. I am not telling you to trade any asset. I am simply sharing my ideas on how to use tools to implement my own investment strategy.
Here is a zoomed-out look you can use to come up with some of your own ideas on where the $SPX may go and how to manage your risk. Most of my core strategies are developed on the indices so I will have to implement them on individual tickers unless the comments are interesting.
This is a lagging indicator and should put me on the side of the trade that is *probably* likely to continue. By probably, I mean you need to do your own research and look at what the markets want to go and develop your own tools to work with the data.
Orientation:
Line Chart of ticker on weekly time frame
RSI using 12 periods (or weeks, in this case)
Signals can be marked using a vertical line or time-based axis marker . In this case, I am using 3 colors of lines, explained by the "Monday Action" legend. We will dive into more detail later on.
I also have EMA using ohlc4 on periods (or weeks) 10, 25, 50, 100, 200.
Now to the good stuff:
Divergences have been around for quite some time. Research about the RSI (Relative Strength Index) and it's roots
It is much easier to see something that is larger, than smaller, thus we look at weekly time frames
One can use volume, closing price and RSI to help manage one's risk
Narrowing a decision to 3 choices can help alleviate indecision
So for this application of the RSI and divergence, one can use a simple line chart on a weekly time frame (this chart is based on the closing price from what I can tell, but I was unable to confirm that with the Help Center. I was able to confirm by checking yesterday's close with current reading - it will be different after this post as the weekly close will come in today (writing before market close Friday morning)).
We can start at the March 2020 rally. We can see the March 23rd, 2020 weekly close paint a divergence
on the RSI. One can see the price close at a higher high when compared to March, 16th, 2020. The RSI values remain relatively flat: 17.95 to 18.04.
Find entry
One might conclude this is a time to buy. Because of the magnitude of the move DOWN, the move up was also shorted. One would have to employ the use of other tools in order to find entry in the following week. (Use the white anchored notes to see the explanations of thought process).
Find an entry in the next week. One can place orders on the weekend in "shotgun fashion" perhaps placing 50% order above current price and 50% below, or whatever method suits you.
Hedge Risk
The next yellow line is 08/24 - 31/2020.
The close indicates indecision in the market. Since this is the first divergence I would simply hedge the FANTASTIC long during the March 2020 buy. This can help to be determined from YELLOW vs RED using the 10 period moving-average of volume.
Use options or other means to protect one's long investments
Sell of Heavy Hedge
The next divergence is JAN 2021. This is the second one so I would probably sell at this point.
I would use my other tools to figure out what to do. Heavy hedging can be using derivatives or shorting your long positions.
Timing
A simple way to use this strategy might be to use the color's GREEN, YELLOW, RED, just like traffic lights. There will be deviations, and variations to the method, but if you back-test this you will probably find this works generally well.
Monday Action
Now I used the words Monday Action simply because that was the next possible day to make a decision. I can make my decision probably anytime within Friday if I feel comfortable with it. I can also place actions for Monday on the weekend.
Bottom Line
This week's close is very important. If we follow the green, yellow, red method from above, this very well can be a RED. It can also be another YELLOW. Volume is indicating something big, but we will see!
Big Picture 19th December 2021Last week’s Forex market saw a lot of important news releases and the early stages of a big wave of coronavirus starting to hit western countries, mainly in Europe. However, directional volatility was not especially high, but we did see quite active markets during the second half of the week following the FOMC release.
The US dollar rose a little in line with its long-term bullish trend, but the hawkish tilt from the FOMC on Wednesday did not move the price of the greenback by much. The US Dollar Index ended the week roughly where it started just before the release.
Risk sentiment worsened over the week, with most stock markets lower, including the benchmark US S&P 500 Index. Most global stock markets fell over the week, as did the Australian, New Zealand and Canadian dollars which are commodity currencies and key risk barometers. The worsening of risk sentiment globally is probably mostly because there is increasing fear over the impact of the omicron coronavirus variant which has begun to spread extremely rapidly in some European nations and is just getting started in the USA. Safe-haven currencies such as the Japanese yen, the Swiss franc, and the US dollar are all higher, but only marginally so in the case of the yen and the franc. It is worth noting that all these movements are relatively small and the swings in risk sentiment I am describing are nothing special and probably do not represent especially strong trading opportunities.
I wrote in my previous piece last week that the best trades for the week were likely to be long of the S&P 500 Index and short of silver in US dollar terms following a daily (New York) close below $21.45. Fortunately, silver in USD terms did not close below $21.45 at the end of any day during the week. Unfortunately, the S&P 500 Index fell by 1.9% over the course of the week.
Fundamental Analysis & Market Sentiment
The headline takeaways from last week were:
The US FOMC announced it would double the pace of winding up its tapering program, so that tapering would finish in March 2022, after which three rate hikes should be expected over the course of the rest of that calendar year to reach a total of about 1%. This hawkish tilt was expected by the market, but it still seems to be having a chilling effect upon risk sentiment. The Fed also warned of the potential impact of high inflation and the omicron coronavirus wave which has yet to really hit the US and may well cause some economic damage. US PPI data came in at an annualized rate of almost 10%, which is high.
The Bank of England made a surprise rate hike of 0.15% in its base rate to a rate of 0.25%, a day after UK inflation data came in at an annualized rate of 5.1%, higher than the 4.8% which had been expected.
Monthly policy releases from the European Central Bank, the Swiss National Bank, and the Bank of Japan contained no surprises and had little impact on the market.
The Turkish lira plunged to new record lows as the prospect of another Turkish rate cut emerged.
A coronavirus variant of concern, named the omicron variant, has continued to spread around the world. The variant is heavily mutated, and latest studies suggest that it has a strong capacity to evade current vaccines. However, latest studies suggest that a maximal course of vaccination will still offer strong protection against severe disease. Some European countries have announced new restrictions to try to prevent the spread of the disease, most notable in the Netherlands which just began a full month-long lockdown. The UK is currently announcing almost 100,000 new confirmed cases a day, an all-time high by far.
Australian unemployment data came in better than expected, showing a rate of 4.6% when 5.0% had been expected.
The coming week is likely to see a lower level of volatility due to the slow economic calendar and wind-down to the Christmas holiday period which begins at the weekend, with direction likely to be determined by the impact of the omicron variant which is currently spreading rapidly in the UK, the Netherlands, Denmark, and Norway. The coming week’s major scheduled economic releases will be:
The Reserve Bank of Australia will release the minutes of its recent Monetary Policy meeting.
There will be a release of Canadian GDP data.
Last week saw the global number of confirmed new coronavirus cases rise to its highest level since last August. Approximately 56.8% of the global population has now received at least one vaccination. Pharmaceutical industry analysts are beginning to doubt the earlier belief than the pandemic would effectively end in 2022, with some seeing it likely to continue until 2024 or 2025.
The omicron variant has been confirmed as present in more than eighty countries.
The strongest growths in new confirmed coronavirus cases overall right now are happening in Australia, Bolivia, Canada, Denmark, Finland, France, Iceland, Italy, South Korea, Malta, Nigeria, Norway, Portugal, San Marino, South Africa, Spain, Sweden, Switzerland, Vietnam, and the UK.
Forex Forecast: Pairs in FocusWhen starting the trading week, it is a good idea to look at the big picture of what is developing in the market as a whole and how such developments and affected by macro fundamentals and market sentiment. There are a few long-term trends beginning to reassert themselves, so it can be a profitable time to trade the markets.
Big Picture 12th December 2021
Last week’s Forex market was very quiet leading up to Friday’s release of US inflation data, which was expected to be the key driver of market movements for the week. However, the data arrived almost completely in line with the consensus forecast, and the market did not react very strongly to it. This meant the week ended quietly with low price volatility.
Despite the long-term bullish US dollar trend, the greenback fell a little over the course of the week, and it also fell after the US inflation data were released. The inflation data showed that annualized US inflation is now increasing at a rate of 6.8%, the highest seen since 1982. However, the pace of the increase lessened, with the recent month’s increase coming in at only 0.8% compared to 0.9% in the previous month. It might be that the slight reduction in the pace of the increase is seen as significant enough to prevent more panic over inflation.
Risk sentiment improved over the week, with most stock markets higher and the benchmark US S&P 500 Index rising to approach its all-time high price. Most global stock markets rose over the week, as did the Australian and Canadian dollars which are commodity currencies and key risk barometers. The improvement in risk sentiment globally is probably mostly because there is an increasing feeling that the omicron coronavirus variant will not turn out to be as economically destructive as had been initially feared. Safe-haven currencies such as the Japanese yen, the Swiss franc, and the US dollar are all lower.
The precious metal silver fell to a new 50-day low price after falling quite strongly for several days. It bounced back a little on Friday but remains quite close to 1-year lows. Trend traders may be interested in going short on Silver.
I wrote in my previous piece last week that the best trades for the week were likely to be short of AUD/USD and NZD/USD, following daily (New York closes) at new lows. Fortunately, neither of these currency pairs made a new low at the end of any day during the week, so this was sufficient to stay out of what would have been losing trades.
Fundamental Analysis & Market Sentiment
The headline takeaways from last week were:
US CPI (inflation) data came in very slightly higher than had been expected and is now increasing at an annualized rate of 6.8%, the highest seen in 39 years. However, the pace of the monthly increase slowed slightly from 0.9% to 0.8%. Markets reacted little during the rest of Friday’s session.
A coronavirus variant of concern, named the omicron variant, has continued to spread around the world. The variant is heavily mutated, and latest studies suggest that it has a strong capacity to evade current vaccines. However, latest studies suggest that a maximal course of vaccination will still offer strong protection against severe disease.
The Reserve Banks of Australia and Canada held their respective interest rates and monetary policies steady in their monthly policy releases during the week. This probably had little impact on either currency, both of which rose firmly.
The coming week is likely to see a higher amount of volatility due to the busy economic calendar, with direction likely to be determined partly by the upcoming FOMC release and partly by how dangerous the omicron variant is shown to be as more tests are performed on it. The coming week’s major scheduled economic releases will be:
FOMC statement, federal funds rate, and economic projections.
Monthly policy releases from the European Central Bank, the Bank of England, and the Swiss National Bank.
British and Canadian CPI (inflation) data.
New Zealand GDP data.
US retail sales and PPI data.
German manufacturing and services PMI data.
Australian employment data.
Last week saw the global number of confirmed new coronavirus cases fall for the first time in seven weeks. Approximately 56% of the global population has now received at least one vaccination. Pharmaceutical industry analysts now expect a large majority of the world’s population will receive a vaccine by mid-2022.
The omicron variant has been confirmed as present in fifty-seven countries.
The strongest growths in new confirmed coronavirus cases overall right now are happening in Denmark, Finland, France, Italy, Jordan, South Korea, Laos, Luxembourg, Mali, Nigeria, Norway, Poland, Portugal, San Marino, South Africa, Sweden, Switzerland, Trinidad, and the UK.
Technical Analysis
U.S. Dollar Index
The weekly price chart below shows the U.S. Dollar Index printed a bearish inside bar last week, after making its highest weekly closing price in over one year the previous week. While one weekly candlestick of a relatively small size is not enough to invalidate a long-term trend, it is notable that there is clearly strong resistance here, which has had some impact. This suggest that despite the trend, we may be due for a bearish pullback or even a reversal. However, probability suggests this strong long-term bullish trend is likely to continue, so there is no strong reason not to be prepared to a take a long USD trade over the coming week, but do not expect bullish momentum in the USD will necessarily save you.
XAG/USD
Silver priced in US dollars made its lowest weekly close since July 2020. However, there are a few potentially supportive inflection points below the current price down to $21.45. It is also true that the pace of the bearish decline has slowed, and that Friday was an up day. Therefore, it is far from clear that silver is going to decline now with good momentum, but there does seem to be a potential for a sharp breakdown once the price gets established below $21.45.
Traders may wish to short this at the weekly open or at least once the price turns bearish over a few hours, but more cautious traders might want to wait for a daily close below $21.45 or at least $21.53.
USD/TRY
The Turkish lira has been falling very strongly and losing an enormous amount of its value. The pace of the decline slowed last week, but we again saw the lira reach a new record low against the US dollar and close at a record low too. There is a strong trend here against the lira, the problem for traders is that it is very difficult to exploit this as Forex brokers are asking for huge spreads and overnight fees on long positions. However, the odds remain strong in favor of further declines in the Turkish lira.
S&P 500 Index
After trading below its 50-day moving average just last week, the major US stock index has risen strongly. Although the price did not trade yet at a new all-time high, the index made its highest ever daily close on Friday.
The weekly candlestick was solidly bullish and closed extremely close to the top of its price range. This, and the record high close, are bullish signs.
The S&P 500 Index looks likely to remain a good potential buy in the current “risk off” market environment, provided we get no nasty surprises from the omicron coronavirus variant.
Bottom Line
I see the best opportunities in the financial markets this week as likely to be long of the S&P 500 Index and short of Silver in US Dollar terms following a daily (New York) close below $21.45.
EUR/USD Analysis - It Will Head UpwardWelcome back! Here's an analysis of this pair!
COMMENT BELOW and let us know your thoughts or questions!
** Current technicals point to a bearish bias on the weekly of EU. After a deep push to the downside and minor correction, sellers struggled to break lower than 1240.
A break of above 1352 would signal next target at 1450 zone (previous weekly resistance). Volatility may begin to slow as we approach the holidays so don't expect major movement from this pair.
We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met.
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EU Heading Long: 2 to 4 month predicationWe are heading long. I think once December's low volume price movement comes to an end, we will be getting all the January pressure we need to start making the push long. I think we will be making a Double Bottom here for the last two weeks of Dec, then shoot long at the beginning of the new year; just as i've already illustrated.
Weekly outlook for Major Forex Pairs Hi Folks!
This is my outlook on some major forex pairs that i trade for the upcoming week.
Please have a tea and some snacks and enjoy my video and prepare your charts for the upcoming week with me.
This video is just for educational purpose, not financial advice, please DYOR before taking any trades.
If u like please hit the Like and Subscribe.
Rune Road to 25$ & Beyond Welcome to AHJ Chart Analysis
Today we are looking RUNE on weekly timeframe last week we saw a 30% dump in RUNE but it held the previous low quite beautifully & also retested downwards trendline which is quite bullish
For those who want to trade this.
Entry: 7.7 (40%)
DCA: 6.9 (40%) , 6.3 (20%)
SL 5.7
TP: 15 (15%) , 21 (25%) , 30 (35%) , 50 (15%) , 70 (10%)
This is not financial advice. Always manage Risks
GRT Road to 2.85 & beyond Welcome to AHJ Chart Analysis
As last week we saw GRT-USDT drop over 31% and that is bearish for many but if we just zoom out we can see after breaking out it is very bullish for any coin to comeback and retest it as support.
We can see GRT-USDT held 0.236 fib and trendline beautifully. As market gets stable we might see GRT-USDT making its way to previous ATH.
Forex Today: Crypto Weak After Bitcoin Flash CrashMarkets have opened with typically low-range price movements for a Monday, without showing clear direction yet. The broader trend is risk-off, with safe haven assets such as the Swiss franc and Japanese yen, while riskier assets such as the Australian and New Zealand dollars and the British pound are weak.Almost all major cryptocurrencies traded strongly lower last Friday, and then Bitcoin suffered a flash crash on Saturday, falling by more than 16% within one hour. All major cryptocurrencies have been consolidating for some hours, but look weak and prone to further falls.
Natural gas has continued to fall strongly to new 3-month lows.The Turkish lira traded at an all-time low against the US dollar on Friday and looks set to retest that high today. The price is rising again now over the short term, and it looks likely to rise higher still over the coming days. However, trading the USD/TRY currency pair can be very problematic for retail Forex traders as spreads and overnight fees are extremely high, while its high volatility can also cause problems.The COT (Commitment of Traders) report show the open interest in long US dollar is at its highest level for more than 2 years, suggesting that the long-term bullish trend in the US dollar is likely to continue.The omicron coronavirus variant is still being researched and monitored, with morbidity remaining unclear. Markets remain prone to very strong risk-off movement if forthcoming news about the potency of the omicron variant is negative.The omicron variant is confirmed to be present in 40 countries. There are confirmations of community spread. Several countries (most recently Japan) have either entirely closed their borders to non-citizens, while the US and the EU and other countries have imposed a ban on travel from South Africa and other African nations.Friday’s US Non-Farm Payrolls data showed that the US created a net new 210k jobs, much lower than the 553k which had been the consensus forecast. The unemployment rate fell from 4.5% to 4.2%, a historically relatively low level, showing a tight labor market. The data seemed to have no real effect on the market.Last week saw the seventh consecutive global weekly rise in new confirmed coronavirus cases after two months in which cases fell steadily.It is estimated that 55% of the world’s population has received at least one dose of a coronavirus vaccination.Total confirmed new coronavirus cases worldwide stand at over 266.1 million with an average case fatality rate of 1.98%.The rate of new coronavirus infections appears to now be increasing most quickly in Andorra, Belgium, Cyprus, Czech Republic, Denmark, Finland, France, Germany, Hungary, Italy, Jordan, Lebanon, Luxembourg, Mali, Malta, Netherlands, Norway, Portugal, Poland, San Marino, Slovakia, Sweden, South Africa, Spain, Switzerland, Trinidad, the UK, and the USA.
Macro bullish - but a couple weeks of slow grindIt looks like we're about to close this week with a HL, which is macro bullish. But reminds me a lot of the may crash. We put in a HL, then grinded down for the next few weeks, until we finally hit support after wicking to 29k. This is where everyone was screaming bear market. If I had to guess, we grind down to as low as 37k, where everyone will once again be screaming bear market, before pumping up. As long as these are just wicks, and we don't get any weekly closes below 42k, I remain macro bullish. Remember, on the bright side during the May-June weekly grind down, this is when NFTs were popping off. My theory? Find a narrative and play it. Keep in mind you'll have to find undervalued coins with this narrative. Current narrative I'm looking at is L2's and Metaverse (Infrastructure, not P2E games). Probably 2 months of grind down (if I'm correct) and then a pop off late Q1-early Q2 of 2022.
Bitcoin weekly chart seems btc still in bullish in long term!!Technical Analysis: Bitcoin (Weekly chart)
In weekly time frame, btc could not sustain on all time Hight breakout and seems rejection. btc make an ascending tringle and its playout very well, btc now down at lower support and try to rebuild another leg upside and RSI also making bearish Divergence which playout right now as well as retested the pervious trend line !!
if btc weekly closed above the both MA's( 21 and 50 MA) and regain psycho level 50k the it will ready to next upside move around 70 to 80k and it could fail to regain from here then only hope is 28k level to save bull market otherwise we will enter the multiyear bear market, so hope for the best but prepper for the Worst!!
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When there is panic, use the weeklyThe Nasdaq100 has been strong, and its trend is still bullish; however, short term we might see some more selling to test the bottom of the channel.
It's a great exercise on any chart to use maybe 1 or 2 moving averages as use a weekly candlestick chart to see the bigger picture.
Major Pairs Key Levels (Nov.29 - Dec.3)Hi everyone,
Hope you have enjoyed the weekend.
Every week, I mark weekly levels for each currency pair to see how price reacts to them.
As you see in the charts, I have marked the last Week's and Last Month’s Highs and Lows for the 6 major pairs (actually they are 7 but there was no room for NZADUSD, but you can do that one by yourself as a practice)
Why are these levels important to us?
Because they are kind of support and resistance levels and when price approaches to them, any breakout or rejection on these levels is very important:
(Lows act like support and Highs act like resistance)
So, take a note for yourself and apply them on your chart to have an efficient setup for key levels.
Mn : Monthly (Red Lines) , W: Weekly (Yellow Lines)
I have a bearish bias for US Dollar this week and I think we might see a weakness on it against the other currencies.
GBPUSD Analysis - It will head upward Welcome back! Here's an analysis of this pair!
COMMENT BELOW and let us know your thoughts or questions!
**
We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met.
Please support this idea with a LIKE if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future.
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Brian & Kenya Horton, BK Forex Academy