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InvestMate|DOGE the reawakening of a legend🐕DOGE the reawakening of a legend 🐕The last few days on DOGECOIN the world's most meme cryptocurrency have been truly lavish in increases. 🐕Over the 13 October lows we have already made 33.62% gains 🐕Transforming to a weekly perspective, we can clearly see that the current weekly candle is breaking out over the last few weeks, this is due to the falling value of the dollar and the return of money to the stock market and cryptocurrencies. 🐕DOGECOIN has lost significantly on its value from the peak to the current low and the fall was as much as -93.36%. 🐕If what we see on the chart is an attempt to reverse the downtrend, and a desire to make a correction. 🐕The most likely levels that the price can currently reach are the first resistance at 0.08894 and the second at 0.1098 which is also the outer fibo level of the last downward wave of 1.618. As you can see on the chart, the price historically found support or resistance at these price levels in the past 🐕This can be played out in 2 ways 🐕Both with a stop below today's upward candle. One with a take profit at 1 line of resistance and in the other play the take profit move to 2 lines of resistance as in the chart below. In one we have a risk reward ratio of 1.57 and in the other more long term the risk reward ratio is 3.61 🚀If you appreciate my work and effort put into this post I encourage you to leave a like and give a follow on my profile.🚀
Long
by InvestMate
6
InvestMate|S&P500 Time for correction📉S&P500 Time for correction. 📉Quick play. 📉S&P500 has made beautiful upward imupls since October 13. 📉In between times we have only made one significant correction. 📉 Looking at the current price action situation it looks like it would be advisable to make a correction here in order to talk about the continuation of the uptrend in the future. 📉 Assuming an entry at the current price level and setting a stop at 3886 and a take profit at 3735, we come up with a risk/reward ratio of 1.1. Considering that the execution of a correction at this point is highly probable I consider this a good opportunity. 🚀If you appreciate my work and effort put into this post I encourage you to leave a like and give a follow on my profile.🚀
UShort
by InvestMate
6
InvestMate|Bitcoin a chance for a correction?💰Bitcoin a chance for a correction? 💰Bitcoin in the last day has broken out from minimum to maximum by 6.12% This is definitely a standout from the previous days. 💰I don't think this breakout was a coincidence, bitcoin caught some air at the same time as the major stock indices started to break out higher. 💰A dollar started to weaken. 💰Such a situation must have led to the strengthening of Bitcoin and other cryptocurrencies. 💰But can we count on something more in the coming days or is this just a bull trap? 💰But I think it is more than that and we can expect an upward correction in the coming days. 💰The most likely scenario is to reach 30,000. 💰This is due to two fibo measurements, the first is the 0.236 level of the wave from ath to the minimum and the second measurement is the 1.618 level of the last largest downward wave. This brings up a cluster at the round level of 30k which further confirms these levels as the market likes to reach round numbers. 💰But the first important resistance to overcome will be the resistance zone coming out at 25k. 💰It is highly likely that this resistance will be tested, and who knows there may even be a deeper correction as I show below. 💰Assuming we open positions now, with a takeproft at 30k the most sensible place for a stop order would be the new low, i.e. below $17500. 🚀If you appreciate my work and effort put into this post I encourage you to leave a like and give a follow on my profile.🚀
INDEX:BTCUSDLong
by InvestMate
4
InvestMate|AUD/CAD Monday play🦘AUD/NZD Monday play 🦘The Australian currency has begun to weaken sharply against the New Zealand dollar over the past month. 🦘The extent of the weakening since the peak has already been over 4% 🦘Friday's session did not leave a dry eye on the pair either. 🦘The weakening of the Australian currency is probably dictated by the interest rate differential which in Australia is 2.6% and in New Zealand 3.5%, almost 1% more. 🦘In my opinion, looking at the dynamics of the movement and the closing of the candle at new lows 🦘It is very likely that we will continue the downward trend on this pair on Monday. 🦘Bearing in mind that we have already made a sizable correction bouncing off the 0.382 level of the last major upward wave. 🦘As far as I can see from the levels, the road to the cluster of levels 0.382 of the largest upward wave and 0.5 of the more recent upward wave and the outer measure of the largest correction in the current downtrend at 1.618 is wide open. 🦘The zone has been respected by the price many times in the past. 🦘But I would stress that this is a long-term perspective. 🦘A more local level I would look for in the outer range of the wave of the last upward correction at the level of 1.272 of this wave. 🦘This is the 1.098 level which is a round price level. 🦘 A move to this level opening positions at current prices would be as follows. 🦘Stop order slightly above the 0.786 level. Take profit at 1.0979 level. 🚀If you appreciate my work and effort put into this post I encourage you to leave a like and give a follow on my profile.🚀
Short
by InvestMate
6
InvestMate|ETH going for $1800?ETH going for $1800? Today we see a beautiful breakout on ethereum which from minimum to maximum is 14.25%. As I wrote in a previous post there was a breakout from the support level we have been accumulating on since 19 September which lasted 36 days. We also broke through the 50 moving average. The next support resistance comes from the price levels at which the price has repeatedly bounced in 2021 from the top in 2022 from the bottom. This is also the fibo level of 0.236 measuring from ath to bottom. The level is very likely. On the 4H we see that the 50 moving average has crossed the 200 i.e. a golden cross has occurred which is a signal of a trend reversal. Assuming we open positions now, without waiting for a smaller correction, the best place for a stop order is below the support zone at around $1350 and set a take profit at $1800. 🚀If you appreciate my work and effort put into this post I encourage you to leave a like and give a follow on my profile.🚀
Long
by InvestMate
13
InvestMate|GBP/JPY time to get rich💷GBP/JPY time to get rich 💷Looking at the pound for what it has done in terms of price appreciation over the last few weeks is incredible. 💷Referring back to my post from 2 weeks ago in which I wrote about the GBP/JPY pair still having plenty of room to rise (spoiler I wasn't wrong) Accurately predicting a correction and then further rises. I invite you to read the article below. 👇👇👇 💷Since my last post on GBP/JPY the rise has already been over 800 pips which translates into a 5% increase in the price of the pound versus the yen. 💷I am proud to have written about this and it is now visible to see in my profile history. 💷But now in the second part I write that it is not over yet. The rally has only just begun 💷Looking at the long-term uptrend on this pair of 32 months now 💷Where the trend is only gaining momentum 💷Which has been mainly driven by the fall in the value of the Japanese Yen where there is currently no change in monetary policy. (negative interest rates of -0.10%) 💷It is now time for the Pound to squeeze out strong gains on the back of, among other reasons, an assumed interest rate rise to 3% from 2.25% 💷And the Bank of England's announcement of unlimited asset purchases, which has contributed to the pound's sharp rises over recent weeks 💷Friday's trading session ultimately showed market sentiment and investors' willingness to push the pound higher. 💷Moving to the monthly chart and knowing the characteristics of the movements of the currency pairs with the yen crossover which oscillate in clear easy to predict trends. 💷 . 💷We are still 5.29% short of the first resistances 💷At these points I would look for price turbulence (possible corrections) 💷As far as I can see, the way is open for now. 💷Feel free to share your opinion on my analysis. I am open to a substantive exchange of views 🚀If you appreciate my work and effort put into this post I encourage you to leave a like and give a follow on my profile.🚀
Long
by InvestMate
3
InvestMate|EUR/USD Euro is growing in strength💶EUR/USD Euro is growing in strength 💶The euro is showing signs of strength in the current week. Is a correction in the downtrend getting ready? 💶Looking at the Unemployment rate in the Eurozone, it stands at 6.6%, the lowest on record. 💶Inflation is already close to 10% and on the 31st when there will be a flash year-on-year reading it is forecast to be 10.1% 💶Interest rates have been raised by 75 basis points and the market is betting on another 75 point hike to 2%. The decision will be made on Thursday 27 October. 💶The consumer sentiment index, which is off its lowest levels in years, has started to slowly rise and the market expects the positive trend to continue in the coming months. There will be another reading on 28 October. 💶💵Overseas, a very different situation. 💵Unemployment rate at low levels of 3.5% I💵nflation has already been falling since June and the market assumes that the next reading on 10 November will maintain the downward trend 💵Interest rates are already at 3.25% and the market assumes another 75 point hike to 4%. The decision will take place on 2 November. 💵Consumer sentiment scored its bottom in June and we have been on an upward trend since that month. 💵Looking at the situation in the US with falling inflation further interest rate rises may not be so necessary anymore, looking at how strong the dollar is, I think the euro has more upside potential in the next months. 💵Moving to the chart 📈We can see that we have been in a downtrend since 7 January 2021 📈We are currently struggling at parity level and I think there is a good chance of defending it and breaking out on the upside. 📈Is there a chance to pass the range of the biggest correction in the downtrend, by measuring we come out with a target at the level of 1.01 📈This also coincides beautifully with the measurement of the last upward wave and forms a cluster with the previous measurement of the correction of 1:1 📈Since 28 September we have made a bottom and started a trend reversal. After making wave 1 and wave 2 it was time for wave 3. 📈By taking a position at this point and placing a stop under today's candle we arrive at a risk-reward ratio of 1.1 🚀If you appreciate my work and effort put into this post I encourage you to leave a like and give a follow on my profile.🚀
Editors' picks
Long
by InvestMate
25
InvestMate|NZD/JPY Kiwi rallies to break outNZD/JPY Kiwi rallies to break out. 🇳🇿 The NZD has been in a downtrend with a number of currencies for some time, on the chart with the yen we can see the accumulation since March this year. 🇳🇿 Looking at the data coming out of the economy. 🇳🇿 Unemployment one of the lowest on record at 3.3% 🇳🇿 Inflation at 7.2% Not the worst. We can see that it has been slowing down over the last few months. 🇳🇿 Interest rates 3.5% with projected increases to 4% during next decision. 🇳🇿 Consumer confidence index slowly rising currently at -42.7% not too bad but the market was expecting a better result. 🇳🇿 As we can see the economic situation in New Zealand is not the worst. It definitely has the potential to perform well in the coming months. 💴In Japan, no change. 💴Unemployment Rate low at 2.5% 💴Inflation low 3%. Japan is one of those countries that has not been hit by Inflation as much as Europe and the USA. 💴Interest rates at -0.1%. Still negative from 2016. Hence these falls in the Yen. When other countries raise rates causing their currencies to strengthen, their strength against the Yen increase. 💴For now, there are no increases on the horizon. The Bank of Japan says it has no intention of changing its monetary policy. 💴But the government doesn't want the Japanese Yen so cheap either, hence in recent days we have seen sharp falls which were interventions to stop the Yen weakening sharply against other currencies. 💴I don't think this will stop investors from pushing prices up again. 💴 Looking at the situation of both currencies, I don't think anything has changed in the current up trend over the months. The only threat could be unexpected monetary interventions to strengthen the Yen. Turning to the chart. 📈 Since 11 October, we have started again to attempt to break through the strong resistance line we are currently at. The move down to the 81 levels looked like a final attempt to see how much the Yen could be strengthened but on a reversal on the kiwi we recorded a double bottom followed by a sharp breakout. 📈 Moving to the 1H chart we see a slight jerking of the price in recent days which was caused by monetary interventions on the Japanese yen. 📈 As you can see this has not been very impressive when compared to the New Zealand dollar. 📈Transforming to the monthly chart and measuring the two largest downward waves using the fibo grid, we can see why the price just had so much trouble breaking through the 0.786 zone. We are on a cluster of two 0.786 fibo levels. 📈Using statistics, the more attempts to attack a level, the greater the attempt to break it out. 📈 The final test of strength will come at the 93.4 levels where the strongest resistance line in the history of this currency pair is located. 📈 Given that we are still in an uptrend I would be tempted to play for a breakout of the nearest resistance line, which we have been fighting since March this year. 📈 The situation could look like on the posted chart with one more attempt to test this resistance line this time from the top. Setting a stop below the current weekly candle and targeting the biggest resistance on the pair at the level of 93 gives us an excellent profit/risk ratio of 5.1 🚀If you appreciate my work and effort put into this post I encourage you to leave a like and give a follow on my profile.🚀
Long
by InvestMate
6
InvestMate|EUR/USD where the correction will end💶EUR/USD where the correction will end. 💶Following up on my last post in which I wrote about the trend reversal on the eur/usd pair to an uptrend 👇👇👇 💶After a beautiful breakout to 1.008 levels and above parity. 💶We have again dropped below parity and in this post we will look at where we can see the correction ending. 💶Looking at the price action, resistances and supports and the fibo measure, the most likely place where the correction could end is around 0.99- 0.986. 💶 This is a strong support zone and the 0.382 level of the entire uptrend. 💶If we are counting on the uptrend to continue I would watch what price does in this zone. 🚀If you appreciate my work and effort put into this post I encourage you to leave a like and give a follow on my profile.🚀
Long
by InvestMate
7
InvestMate|DAX Prepare to rally higher🇩🇪 DAX Prepare to rally higher 🇩🇪 Referring to my last post on dax 👇👇👇 🇩🇪 We are in a very interesting place where an upside breakout formation could take place. 🇩🇪After making a correction yesterday. At the opening of the session today, the dax index showed strength and a desire to continue the uptrend. 🇩🇪 If today's breakout occurs, the way is open to the 13500 level, which was determined by the fibo grid of 0.786 of the last downward impulse. 🇩🇪 In this situation the stop order would be below the 0.618 level of the same wave at 13125 🇩🇪 The impulse sequence can look like this as I have drawn on the arrows 🚀If you appreciate my work and effort put into this post I encourage you to leave a like and give a follow on my profile.🚀
DLong
by InvestMate
2
💲XRP silence before the breakout💲XRP silence before the breakout 💲Over the past few days we have seen cryptocurrencies wake up from accumulation and we have seen most of them break out beautifully. Breaking through local resistance lines. 💲On XRP, the situation is a little different 💲The start of the breakout occurred on 7 September from levels of 0.32 to 0.56 within 2 weeks. The range of this impulse was 79% 💲After which we cooled the atmosphere and started to accumulate. Falling double to the 50% level of the upward wave, from where the price was pulled up again. 💲Rising stock indices and the fall of the dollar resulted in a renewed influx of capital into higher-risk instruments such as cryptocurrencies. 💲As you can see XPR has not yet reacted to this breakout opportunity. 💲But I believe this could change in the coming days and we will see increases on one of these most popular cryptocurrencies. 💲Moving to the weekly chart, we can see that the price reacted perfectly and stopped at the 0.236 level of the downward wave of the biggest correction. 💲Assuming the uptrend continues in the coming days, we can expect a rebound even to the area of 0.7 per xrp. 💲Looking at this movement from the current level, this would be an increase of 51.6%. 💲If we place the foot under the last accumulation holes after the first break-out, i.e. in the area of 0.38, the risk reward ratio is 2.91, which is very good. 🚀If you appreciate my work and effort put into this post I encourage you to leave a like and give a follow on my profile.🚀
Long
by InvestMate
8
InvestMate|CAD/JPY Will we go higher or is this already a peak?CAD/JPY Will we go higher or is this already a peak? 🍁Unemployment remaining low at 5.2%. 🍁Inflation slowly slowing The latest reading on 19 October indicated 6.9% which, compared to the peak of 8.1% recorded in June, offers a breath of optimism. 🍁Interest rates definitely higher than in the EU. At 3.25%. With the next rate hike due on 10 October, the market assumes it will be a 75 basis point hike to 4%. 🍁Trade balance at a high of C$1.52B in August. On 3 November we will find out how much it amounted to in September. Canada is now seeing very strong trade volumes. The highest in a decade. 🍁Manufacturing PMI low of 49.80 points. tradingeconomics.com 🍁The Consumer Confidence Index is falling but neither all-time highs nor a "crisis" state is just low at 48.51 points. tradingeconomics.com 🍁Will we see this reflected in the chart of these currencies? 🍁💴On the other side of the globe. 💴In Japan, no change. 💴Unemployment Rate low at 2.5% 💴Inflation low 3%. Japan is one of those countries that has not been hit by Inflation as much as Europe and the USA. 💴Interest rates at -0.1%. Still negative from 2016. Hence these falls in the Yen. When other countries raise rates causing their currencies to strengthen, their strength against the Yen increase. 💴For now, there are no increases on the horizon. The Bank of Japan says it has no intention of changing its monetary policy. 💴But the government doesn't want the Japanese Yen so cheap either, hence in recent days we have seen sharp falls which were interventions to stop the Yen weakening sharply against other currencies. 💴I don't think this will stop investors from pushing prices up again. 💴 Looking at the sytcajci of both currencies, I don't think anything has changed in the current trend over the months. The only threat could be unexpected monetary interventions to strengthen the Yen 📈Meanwhile on the chart. 📈On 21 October we made a double top and then after the intervention we went down into the support zone and there was a sharp overbought period. 📈Turning to the monthly chart, the first thing that catches our eye is a harmonic formation called gartley. 📈If the harmonic formation were to be fulfilled we can expect a rise to the range of the largest downward wave at the 0.786 level. 📈Assuming a stop below the post-intervention lows and a take profit at 0.786, this gives us a profit/risk range of 2.52. 🚀If you appreciate my work and effort put into this post I encourage you to leave a like and give a follow on my profile.🚀
Long
by InvestMate
4