Weeklymarketsanalysis
Gold- Weekly Forecast 6th - 10th MayGold had a week of consolidation as it failed to break previous low and rebounded off quite strongly, closing higher than its previous day high.
The price is expected to climb further and test the top of the current range of 1287 and 1267.
The major trend will still be unclear until the price has chosen to break out either side of the range.
If the price falls a little but maintains above 1273 for the first 2 trading days, there's a good opportunity to buy from the low to the top of the range.
If the price climbs and reaches 1286 - 1294 for the first 2 days and provided the candles get smaller after one another, that will be a good chance to sell again.
EURUSD- Weekly Forecast 6th - 10th MayEURUSD has climbed strongly but got rejected at 1.126 which led it to fall for another 2 days.
However, the dollar plunged and pushed EURUSD up again and the week ended with a bullish candle.
Based on the structure, the price could be forming an ABCD which will be completed within a supply zone at 1.1300.
But just before that, the price should face some resistance by a falling trendline at 1.1230.
So, if the price were to fall at first in the first 2 trading days but managed to maintain above 1.1170, it will provide a good opportunity for a short-term long.
If the price continues to climb at first, we will keep a lookout for a breakout of the falling trendline at 1.1230, and keep waiting for a selling opportunity only when it reaches 1.1300.
Dollar - Weekly Forecast 6th - 10th MayThe dollar did not turn out what was expected and the entire sentiment has turned from a bullish to bearish.
It started off by falling for 2 consecutive days which dived a little deep below the breakout level of 97.7 but managed to pull another 2 days of bullish movement that covered most of the weekly losses.
And then the market chose to buy the story and sell the fact which led the dollar to sink below the breakout level once again, which also cause a break at the bottom of the rising channel.
So this week, more bearish movement is definitely expected and there's a good chance for it to reach the demand zone just below 97 before we see any significant rebound.
#USDJPY, downward break in Week 17, what to expect in Week 18?USDJPY moved as expected from our analysis in Week 16, breaking through the level 1 consolidation zone.
It ended the week with a strong bearish move after the NFP and stayed low till closing.
The analysis is currently pointing to some form of potential consolidation that might happen in Week 18 as it is in the bearish zone 2 now which the rally can move about 30 to 60 pips.
Overall, the direction for USDJPY continues to be bearish, however, in Week 18, there can be opportunities for both long and short traders to profit from the market.
I would be looking for long opportunities and continue to go in on a bigger short contract when the signal arises.
I hope all traders can continue to make good profit in Week 18!
If my analysis helped you in any way, I hope you can give me a like and follow me, thanks for your support!
#USDCHF, barely bearish in Week 17, let it continue in Week 18USDCHF moved accordingly to what we expect in Week 17, albeit it is not that of a massive move, short traders can still make good gains from shorting with low drawdown.
The reversal zone delayed for a little while before the bearish move, it dipped a little, followed by a consolidation which forms the level 1 of the bearish zone.
The NFP that occurs on Friday helped to push USDCHF back to its original direction, and the USDCHF ended the week with a strong bear move.
As the pair is currently residing in the level 1 zone, the analysis would expect the pair to continue its downward movement in Week 18.
I would look for shorting opportunity in Week 18 and hopefully, it can reach the level 2 zone in Week 18.
I hope all traders can continue to make good profit in Week 18!
If my analysis helped you in any way, I hope you can give me a like and follow me, thanks for your support!
#GBPUSD, great gains in Week 17, can it continue in Week 18?GBPUSD shifted massively away from where we ended in Week 17. Any traders going long at any point of time would have made a good profit.
With such a strong bullish move except for a short pullback at level 2, can the trend continue on through Week 18? Well, the analysis suggested that we will be looking at a downward rally soon before the price continues back its bullish track.
Week 17 ended with a strong bullish move after the NFP and it stayed at its weekly high at close. That is a pretty strong statement of bullish power.
However, it has broken it's level 2 bullish zone, thus we are expecting some form of consolidations which might lead to a reversal if a reversal pattern occurs, if not it can continue an extended bullish move.
The analysis is suggesting a possible short opportunity in Week 18, which I agree. I am also looking at a longer-term bullish move might resume after the short term bearish move.
I hope all traders continue to make good profit in Week 18.
If my analysis helped you in any way, please like and follow me, thanks for your support!
#EURUSD, long and short in Week 17, remain long in Week 18?EURUSD made a great bullish move at the start of the week, however, it started to stall and resume the bearish move somewhere in the middle of the week.
Fortunately, it continues back its bullish power after the NFP on Friday.
EURUSD currently sits at level 1 of the bullish zone, and the analysis pointed to us that the pair would be likely to continue its upward thrust for Week 18.
The analysis would expect the upward move to reach a level 2 bullish zone in Week 18 since it is currently at its level 1 and it is considered reversed in Week 16.
When the opportunity arises in Week 18, I would be going in long on EURUSD as well.
I hope all traders can continue to make good profit in Week 18!
If my analysis helped you in any way, I hope you can give me a like and follow me, thanks for your support!
USDCAD Short Position: weekly candlestick pattern (22.04.2019)Pair: USD/CAD
Leverage: 1:25
Lot: 0.02
Position: Short
Open: 1.33530
STILL BULLISH! LONG TERM CHART OF BTC! RELAX, I HAVE PROOF!Hello everyone! I have a fresh, juicy idea straight from the trees, its even greater than all my previous posts put together, and I mean it. However, I agree its tiresome to read, and I don't want every post to be like this, but this one is an exception because I have something really important to say.
As you know I have a habit of writing very long posts, I have too many thoughts in my mind, and I usually jam them all into 1 post, which is not good for you guys, so what I'll do in the future is write each idea separately and focus straight to the point.
This post will be looking at the entire history of BTC, from start to finish. We'll be looking at this chart from a birds eye view to truly understand the big picture of BTC. The future is bright and awaits us with many more phenomenal things to come, its exciting times, I can't stress that enough.
TECHNICAL POINTS
For reference, here's the legend for my chart:
Blue lines = Long term support & resistance
Pink lines = Short term support & resistance
Green patch = Bull market
Red patch = Bear market
Grey patch = Consolidation phase
Purple dotted line = BTC halvings
Black line = DNM Support
What you're seeing is a long term chart of BTC, I changed the view to log instead of auto, with this change we can clearly see that there is a massive yet gradual uptrend. We're bouncing off trend line supports and resistances on the weekly, the entire chart is going on an uptrend. If you look at the RSI, its telling us the same exact story. I don't see anything going to 0 here.
It can only go up, there's literally no indicator saying that we're heading down, this is why I'm extremely confident, if anyone tells you otherwise, ask them for proof, which they probably don't have, because they're most likely "when moon lambo kids" who don't understand a thing about markets. I'm not saying I'm 100% right, but if you disagree with me, then by all means feel free to challenge my idea, I'm always open to a civilised conversation, write what you guys think in the comments.
MARKET CYCLES
The entire history of BTC looks astounding, and it only gets better from here. If you just look at the chart, you can see patterns that are very repetitive and predicatable, in a very good way. What you're seeing is just the beginning of BTC.
Just like any market, BTC goes through cycles, we're currently on the 4th cycle, and its going to do the same thing as before. You see, every cycle goes through 3 stages, the grey stage, green stage, and red stage.
If you look at very start of the chart, BTC starts off as grey, which is known as the consolidation stage, its going through a build up moment. After the grey stage, the price gradually goes up, and transitions to the green stage, thus starting a bull run.
Once it reaches an all time high, it will create a resistance. The price will then pull back, cooling down from ATH and then begin its next phase, the bear market, also known as the red stage. The red stage is the end of every cycle.
So it goes grey, green, and red, and it repeats itself in that sequence, just like traffic lights, think of the market cycles as traffic lights. Its done the same thing 3 times in the past 10 years, we're currently in the 4th cycle as mentioned previously.
As of today, we're still in the grey stage, and according to my calculations, the grey stage will end at around October, Q4. Once October ends, we will see new highs, the market sentiment will change and we'll see a bull market emerging, this is the proof I'm talking about. You have to ask yourself, name me one bear market that wasn't followed by a bull market?
FUNDAMENTAL POINTS
To spice up my analysis, I'm going to talk about the fundamental side of things. You see, the purple dotted lines in the chart shows the date of the BTC halvings, every time there's a halving, a bull run triggers, fundamentally. Mining rewards get halved every 4 years, that means supply becomes low and scarce, causing the demand to increase, when demand increases, price increases. The coin is hard coded in the system to make itself explode every 4 years.
There's one more fundamental point I want to make, its about the black line. Now, say what you want about bitcoin but what I'm about to tell you is a hard cold fact, there's no denying this. BTC's history is infamous. Cyber criminals used BTC to buy and sell drugs, as well as other illegal goods and services back in the early days of silk road, and is still being used to this very day except operated with a different marketplace. With that said, 5% of the total market cap of BTC is used for the dark net markets. BTC's dominance is currently $93,639,254,464, and 5% of that is $4,681,962,723, if you divide by the circulating supply, you get 5% of the current price.
For reference, Here's my formula:
(BTC Dominance * 0.05) / (Circulating Supply) = Price of BTC in the Dark Net Economy
This is where the black line support comes from, when people say BTC is going to 0, they have absolutely no clue, its hilarious, they're just speaking from emotion with no solid evidence. Its literally impossible for it go to 0 when there's an underground economy happening right under our noses. If bitcoin magically dies, criminals will still use it with or without you, thus creating that black line for themselves. The Dark Net has been around for a very long time, good luck trying to take it down, because the FBI can't do it either.
So there you have it, my TA and FA in one post. I place my bets on October, thats the timeframe I see when we transition into a bull market, I can't really put a price tag on it now but I know the next bull market is going to be insane, like literally mentally insane. The facts and figures are all there, its up to you to guess what you want the price to be, and it doesn't really matter because we're all going to be rich either way.
Thank you for your time ladies and gentlemen, I wish you all a fantastic day!
Twitter: @cyber_stocks
Discord: CyberStocks#9378
Join my favourite community on discord: discord.gg
Feel free to support me, any help is appreciated. All funds will directly support my personal finances, and most importantly, my mission of building an online brand :)
BTC Donations: 1AuZiofHSqM5gV1ttxUddNovDhEtHgMUgA
STILL BULLISH 2019! LONG TERM CHART OF BTC! RELAX, I HAVE PROOF!Hello everyone! I have a fresh, juicy idea straight from the trees, its even greater than all my previous posts put together, and I mean it. However, I agree its tiresome to read, and I don't want every post to be like this, but this one is an exception because I have something really important to say.
As you know I have a habit of writing very long posts, I have too many thoughts in my mind, and I usually jam them all into 1 post, which is not good for you guys, so what I'll do in the future is write each idea separately and focus straight to the point.
This post will be looking at the entire history of BTC, from start to finish. We'll be looking at this chart from a birds eye view to truly understand the big picture of BTC. The future is bright and awaits us with many more phenomenal things to come, its exciting times, I can't stress that enough.
TECHNICAL POINTS
For reference, here's the legend for my chart:
Blue lines = Long term support & resistance
Pink lines = Short term support & resistance
Green patch = Bull market
Red patch = Bear market
Grey patch = Consolidation phase
Purple dotted line = BTC halvings
Black line = DNM Support
What you're seeing is a long term chart of BTC, I changed the view to log instead of auto, with this change we can clearly see that there is a massive yet gradual uptrend. We're bouncing off trend line supports and resistances on the weekly, the entire chart is going on an uptrend. If you look at the RSI, its telling us the same exact story. I don't see anything going to 0 here.
It can only go up, there's literally no indicator saying that we're heading down, this is why I'm extremely confident, if anyone tells you otherwise, ask them for proof, which they probably don't have, because they're most likely "when moon lambo kids" who don't understand a thing about markets. I'm not saying I'm 100% right, but if you disagree with me, then by all means feel free to challenge my idea, I'm always open to a civilised conversation, write what you guys think in the comments.
MARKET CYCLES
The entire history of BTC looks astounding, and it only gets better from here. If you just look at the chart, you can see patterns that are very repetitive and predicatable, in a very good way. What you're seeing is just the beginning of BTC.
Just like any market, BTC goes through cycles, we're currently on the 4th cycle, and its going to do the same thing as before. You see, every cycle goes through 3 stages, the grey stage, green stage, and red stage.
If you look at very start of the chart, BTC starts off as grey, which is known as the consolidation stage, its going through a build up moment. After the grey stage, the price gradually goes up, and transitions to the green stage, thus starting a bull run.
Once it reaches an all time high, it will create a resistance. The price will then pull back, cooling down from ATH and then begin its next phase, the bear market, also known as the red stage. The red stage is the end of every cycle.
So it goes grey, green, and red, and it repeats itself in that sequence, just like traffic lights, think of the market cycles as traffic lights. Its done the same thing 3 times in the past 10 years, we're currently in the 4th cycle as mentioned previously.
As of today, we're still in the grey stage, and according to my calculations, the grey stage will end at around October, Q4. Once October ends, we will see new highs, the market sentiment will change and we'll see a bull market emerging, this is the proof I'm talking about. You have to ask yourself, name me one bear market that wasn't followed by a bull market?
FUNDAMENTAL POINTS
To spice up my analysis, I'm going to talk about the fundamental side of things. You see, the purple dotted lines in the chart shows the date of the BTC halvings, every time there's a halving, a bull run triggers, fundamentally. Mining rewards get halved every 4 years, that means supply becomes low and scarce, causing the demand to increase, when demand increases, price increases. The coin is hard coded in the system to make itself explode every 4 years.
There's one more fundamental point I want to make, its about the black line. Now, say what you want about bitcoin but what I'm about to tell you is a hard cold fact, there's no denying this. BTC's history is infamous. Cyber criminals used BTC to buy and sell drugs, as well as other illegal goods and services back in the early days of silk road, and is still being used to this very day except operated with a different marketplace. With that said, 5% of the total market cap of BTC is used for the dark net markets. BTC's dominance is currently $93,639,254,464, and 5% of that is $4,681,962,723, if you divide that by the circulating supply, you get 5% of the current price.
For reference, Here's my formula:
(BTC Dominance * 0.05) / (Circulating Supply) = Price of BTC in the Dark Net Economy
This is where the black line support comes from, and its price is sitting on a support line of $264, when people say BTC is going to 0, they have absolutely no clue, its hilarious, they're just speaking from emotion with no solid evidence. Its literally impossible for it go to 0 when there's an underground economy happening right under our noses. If bitcoin magically dies, criminals will still use it with or without you, thus creating that black line for themselves. The Dark Net has been around for a very long time, good luck trying to take it down, because the FBI can't do it either.
So there you have it, my TA and FA in one post. I place my bets on October, thats the timeframe I see when we transition into a bull market, I can't really put a price tag on it now but I know the next bull market is going to be insane, like literally mentally insane. The facts and figures are all there, its up to you to guess what you want the price to be, and it doesn't really matter because we're all going to be rich either way.
Thank you for your time ladies and gentlemen, I wish you all a fantastic day!
Twitter: @cyber_stocks
Discord: CyberStocks#9378
Join my favourite community on discord: discord.gg
Feel free to support me, any help is appreciated. All funds will directly support my personal finances, and most importantly, my mission of building an online brand :)
BTC Donations: 1AuZiofHSqM5gV1ttxUddNovDhEtHgMUgA
GOLD: Preparation for the week! Looks very BULLISH!OpportunityHey tradomaniacs,
welcome to the weekly outlook of GOLD.
Overall we still see a correction between two very important price-levels.
We can consider that the market does continue the rally unless the stock-market climbs aswell.
Sentiment:
What we`ve seen is a changing cash-flow out of Gold into the stockmarket even though the volume is very very low.
This almost flat-type-correction in form of a falling wedge which retraced almost 38,2% of the impulse is actually a joke compared the price-run of indicies such as SPX500.
But still... we see very low volume and probably a fake-rally.
Anything else I want to say is shown in the chart!
What do you think will happen?
Have a great start into the week! :-)
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LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades
Irasor
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Any questions? PM me. :-)
#GBPUSD, end of bear in Week 17, bullish in Week 18?So sorry for not posting my analysis of Week 16, as I was overseas! However, I was trading through the week, so I am back with the analysis of the coming Week 18.
GBPUSD seems to have overextended its bearish move in Week 17, pretty much like the USDCHF. It ended the week with a reversal pattern at level 5 of the bearish trend. That made me incurred some losses as well in GBPUSD, I was expecting a further downward movement.
However, the analysis in Week 17 is now pointing us towards a bullish movement in Week 18. With a completed reversal pattern in bearish level 5 zone, it does look possible for the bull to regain its power for a bull ride in Week 18!
I will personally enter a long for GBPUSD in week 18, as well as long in EURUSD and short for USDCHF. Probably a smaller position for USDJPY as a risk control measure.
I hope all traders continue to make good profit in Week 18!
Please like and follow me if my analysis provided you with some insights, thank you for supporting me! =)
#USDCHF, strong bull in Week 17, expect a short Week 18USDCHF made a very strong bull movement for the past two weeks and I personally suffered some losses by going short on them, however, I am glad I avoided them completely in Week 17 since it showed that it is going to extend its bullish movement.
I am away for the weekend of Week 16, thus, I did not make any update. However, I am still trading the market, so I am here to present the analysis for Week 17!
Towards the end of Week 17, USDCHF got into a consolidation phase which showed that the bull is now having some trouble to continue its movement.
USDCHF has made about 7 levels of bullish movement according to the analysis, and they do not seem apologetic at all! However, it seems to have stalled a little by the closing of Week 17, and it is currently staying at a new multi-week high.
The H1 analysis points towards a short in the coming week and I will be doing just that since I have found the pair to be over-extended now.
However for traders trading USDCHF, you guys still need to be careful of the potential loss that it might bring. For me personally, I will be entering short in Week 18! I hope all traders will continue to make a good profit from the market in Week 18!
Please like and follow me if I have provided you with some value from my analysis, thank you!
#USDJPY, reversal in Week 17, a short Week 18!A great week for USDJPY! I missed out on my analysis for Week 16 as I am overseas, however, I am still trading the market!
USDJPY made a great move towards the end of Week 17. I had a wrong level count previously that led to me still looking for another high to be made in Week 17.
Now looking at the situation, USDJPY actually made a reversal pattern in Week 17 which coincided with level 3 of the bull trend.
In Week 18, the analysis points the movement towards bearish and we will be likely to be able to profit from a bear movement followed by consolidation at the end of Week 18.
I personally would be entering a short, since the outlook is bearish and I am comfortable with the situation.
I hope my analysis has provided you with some insights, please like and follow me, thank you!
Gold - Weekly Forecast 29th April - 3rd MayThe gold has climbed last week as it proceeded with the retracement after breaking below the neckline of a head n shoulder.
This is also considered a break-below of a range at the top of the 34-month symmetrical triangle which will bring forth a bearish market.
In this week, we will observe the price closely at its current level and as it creeps into the supply zone at 1288 and the broken neckline.
Since the dollar has taken a bullish stance after it broke its previous high, it will boost the case of a bearish gold in the coming week.
EURUSD - Weekly Forecast 29th April - 3rd MayEURUSD fell and broke below a 2-month low at 1.1196 and it managed to close below despite strong rebound at 1.1120.
The technical chart clearly favours a bearish market now and there will be a selling opportunity again this week.
In the H4 chart, the price has completed a wave of retracement and awaiting the 2nd wave to be completed.
In this week, we will wait patiently for the price to retrace towards the breakout level and find an opportunity to sell just below 1.1200.
Dollar - Weekly Forecast 29th April - 3rd MayLast trading week was an eventful one as the dollar finally broke a new high in 5 months.
It was a clean break as it closed above the previous high with a strong bullish day candle and the retracement was shallow and the price still sits on to of a 23-month supply zone.
However, it is unlikely that we will see the dollar climb straightaway towards the 24-month supply zone above 99.
The dollar is expected to make a series of climbing and retracing, supported by a rising trendline.
In this week, if we were to take a look at the H4 chart, the short-term trend actually favours a bearish market.
The price is most likely to retest the previous high at 97.6 and only when the retest is successful, the price will continue to rise to a new high again.
AUDNZD WEEKLY SHORT SETUP 300-700PIP SWING TRADE IDEALooking at AUD/NZD just need a Daily/Weekly reversal pattern to form before going short. If a Counter-trend line does form on the 4hr or Daily I will use that to help with more precise entries.
-We had a Weekly Uptrend break. It has been retested the back end of the uptrend previously for a 365 pip drop. It has reached our point of interest once again in which we can look to go short again (If confirmations are met).
-Initial Targets (Previous Weekly Lows). 2nd Target (100 fib) 3rd and final target (-27. Extension)
A double correction appears in USDCAD WeeklyUSDCAD seems to be forming a double zig zag correction (WXY) in the bigger picture.
US Dollar Currency Index / D / Weekly Forex Analysis / 4.21.2019Hello Traders, Happy Easter and welcome to the Weekly Forex market analysis. Today is April 21st, 2019 and we will be taking a look at the U.S. Dollar Currency Index on the daily chart and take an outlook into the upcoming week. Looking at the Dollar Index here on a daily time frame, we can see a rising wedge type formation still playing out for a few months now. Last week we were looking for the retest of 97.701 area didn't quite get to the top of the wedge. Overall on the week the dollar has gained some bullish momentum and strength, threatening the highs of 97.701. We are going to be watching this area again into this week of 4/22/19. If we can break out of this 97.701 area which is acting as major resistance we can possibly see continuation towards the 98.687 area. On the other hand if we don't see a rally towards 97.701, then be mindful of a possible retest of support near the 96.288 area. We are so thankful to have you tune in, please feel free to write a comment or leave feedback, any advice is greatly appreciated. Have great day and good hunting out there traders!
Gold- Weekly Forecast 22nd - 26th AprilThe gold continues to break lower as US stocks market continued to climb steadily.
The neckline of an HnS was successfully broken creating the case for further bearish movement.
And looking at the weekly chart, the price has also closed below a range at the top with a significantly bearish candle.
In the first trading day of the week, we can expect further retracement before the price resumes depreciation.
Look for selling opportunity within the supply zone of 1284 - 1289.
EURUSD- Weekly Forecast 22nd - 26th AprilEURUSD took an unexpectedly bearish turn as a lack of demand failed to maintain the price higher and a weak Euro data caused a snapped in the shared currency.
The price broke 2 higher lows in one wave thus making a strong case for further bearish movement to follow.
Due to Easter Day, volatility will be low and the price may continue to retrace higher.
We can wait for a selling opportunity near 1.1280 just above the Fibonacci level 50% and short towards 1.1180.
