There are currently 37 million alt coins that exist today. Most alt coins continue to bleed and get smashed against Bitcoin as Bitcoin Dominance continues to surge. Even solid cryptocurrency projects like Ethereum and Polygon are continuously making new bear market lows on their bitcoin pairs. Two alt coins that have withstood Bitcoin's onslaught are XRP and Chainlink. Both XRP Dominance and Chainlink Dominance are still above the 2022 Bear Market Low. The chart below shows Chainlink Dominance at currently 0.32%. Chainlink Dominance is barely holding onto a thread bouncing off a trendline that has historically served as support/resistance. Everytime Chainlink Dominance has tagged the trendline, it has had a rally. This is the last chance in my opinion for Chainlink to expand its dominance in the crypto space. As communicated previously, I believe Chainlink has bottomed or is close to bottoming and getting ready to surge to $100+. If that happens we should see Chainlink Dominance hit the blue fibbonaci retracement resistance area at 0.84% - 1.19%. Some analysts are saying before the bull market is over, we will see over 100 million alt coins being minted. Obviously, Bitcoin will hold the lion share in dominance over the cryptocurrency market, but there will be opportunities in a few alt coins like Chainlink and XRP in my opinion to gain dominance in the cryptocurrency market. Targeting Chainlink to gain at least 1% of the cryptocurrency market.
Find the trend, follow the trend and stay on the trend. If can't find the trend then wait, trading is a marathon and not sprint.
Gold operation strategy reference: Short order strategy: Strategy 1: When gold rebounds around 3245-3250, short (buy short) 20% of the position in batches, stop loss 6 points, target around 3220-3200, break to see 3170 line; Long order strategy: Strategy 2: When gold pulls back to around 3167-3170, long (buy long) 20% of the position in batches, stop loss 6 points, target around 3205-3225, break to see 3250 line;
The GBP/JPY Pair on the M30 timeframe presents a Potential Selling Opportunity due to a recent Formation of a Triangle Breakout Pattern. This suggests a shift in momentum towards the downside in the coming hours. Possible Short Trade: Entry: Consider Entering A Short Position around Trendline Of The Pattern. Target Levels: 1st Support – 184.40 2nd Support – 182.60 ? Please hit the like button and ? Leave a comment to support for My Post ! Your likes and comments are incredibly motivating and will encourage me to share more analysis with you. Best Regards, KABHI_TA_TRADING Thank you.
Trading divergences was always a problem for me in the past. I did the same thing you did and got it wrong every time. I was trading divergences when i saw them instead of realizing a divergence is a flip of support and resistance levels. I just needed to know where they are. In this video: Internal vs External Pivot divergence confirmation: You can have two types of pivots on your chart. One for long term and one for short term. Using them to confirm short and long term price action is intuitive as youll be able to see the market squeezing on the short term while knowing where your long term price structure exists. Price action to Divergence Confirmation: A divergence on a short term pivot is an indication of short term loss of trend or reversal. If the short term has no divergence but the long term does, you are about to end up with some pretty large price moves. Youll be confirming the divergence by looking for highs, lows, and closes moving the wrong way from current price action. This video will give you a method you can use to draw out your support zone / resistance zone / divergence zone and use them to your advantage. The "Divergence Zone" that you draw out is the very reason why so many people fail at divergences. Bare in mind that when you have a divergence, support and resistance are on the WRONG sides as their normally are so you'll learn here how to find those zones as well. Then in the end of the video ill show you how to use lower timeframes to confirm the new move of the market. Thanks, everyone. For coming through to the CoffeeShop.
Gold's 1-hour moving average continues to spread upwards and bulls are spreading. Gold bulls are full of strength. Gold still has upward momentum. The pullback will continue to give opportunities to go long. https://www.tradingview.com/x/qmyoGe4g/ Trading idea: Go long near gold 3175, stop loss 3165, target 3210 The above is only a sharing of trading ideas and does not constitute investment advice. You need to be responsible for your own profits and losses.
Lately I've been seeing a lot of people incorrectly state that the Yield Curve is currently inverted. IT IS NOT. Easily measurable 10Y - 2Y. Google the definition if you need to. I laid out the impact of the yield curve inverting against the S&P 500. In most cases, you can see SP:SPX sells off slightly after inverting. The higher the spread, the healthier the market is. You want funds buying longer dated securities for market stability and confidence.
Looking at what makes a chart either bullish or bearish are the power behind the divergence. They come as Hidden and Regular divergence.
DXY tanking has gold making a higher high after a 20 week intermediate cycle. Is this a false breakout or the next leg up?
Based on the H4 chart analysis, we can see that the price is rising toward our sell entry at 3226.16, aligning with the 127.2% Fibo extension Our take profit will be at 3170.13, a pullback support level. The stop loss will be placed at 3307.54, above the 161.8% Fibonacci extension. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (https://tradu.com/uk): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd (https://tradu.com/eu): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Global LLC (https://tradu.com/en): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to Tradu (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of Tradu and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of Tradu or any form of personal or investment advice. Tradu neither endorses nor guarantees offerings of third-party speakers, nor is Tradu responsible for the content, veracity or opinions of third-party speakers, presenters or participants.