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ridethepig | TRY Q3 Macro Flows 📌 The buyers constitute a formidable opponent holding the breakup and putting sellers out of action. The moves are ready, to fend off another wave of risk looks impossible now and Turkey will suffer a major hammer that may be unendurable for local banks. A break above 7.20xx will unlock the widely track 7.80xx since last year. If buyers hold (and it looks a done deal now) for this monthly closing pattern it means we are ready to march forward in August and September to cripple EM FX. But if sellers hold at the end (seems very difficult with USD shortages entering back into play) then buyers are kept busy. Naturally continue to follow the macro strategy, on account of the 2020 macro flow map: Another move that would be difficult for Turkey to defend against. If you are bearish, continue sticking the knife in via buying USDTRY because it would no longer be possible to prevent the settling above 7.20xx. 📍 The other important note to make is the lack of foreign inflows... rather the opposite, heavy outflows continue with overseas participation in Turkish bonds now at record lows, as is usually the case in the end of dictatorships. There is nowhere for the CBRT to hide.. they will have to devalue the TRY to offset the loss in access to markets. Take a look over at EURTRY which is still up at ATH's ... this retrace is profit taking in the dollar train rather than Turkey stabilisation. Stay long, look for 7.80xx as the main macro target by year-end. As usual thanks for keeping the feedback coming 👍 or 👎
Long
by ridethepig
4
ridethepig | GBPUSD Market Commentary 2020.07.20On the GBP side, all quiet on Brexit news with cable and EURGBP stuck within tight ranges defined last week. Here actively selling cable with the European close at 1.262x, risk is entering back into the picture via virus anxiety we will see USD better bid than it 'should' be. I suspect we will have BOE on the wires at some point later in the week talking down the moves and keeping things tight. Better outflows for GBP will start once Brexit enters back under the microscope. I still think the UK will receive another major hammer towards 1.15 and 1.10 along with consumers drowning via inflation. The strategy remains, continue to sell GBP on rallies as the dark storm clouds approach, tracking closely 1.262x resistance for sellers loading (we are here) and fading 0.908x lows in EURGBP. As usual thanks for keeping the feedback coming 👍 or 👎
Short
by ridethepig
1
ridethepig | Quarterly Updates in the Dow📍 The Pinned Buyer => The move lower is justified, since Equities at these levels are as good as forced. After Fed and other CB intervention has stopped, it will inspire anything but confidence. => So a health crisis, thirsting for a vaccine allowed Equities to outperform last Q as a haven for the bizarre 'Keynesian stimulus'. The correct move was a dead-cat-bounce and early buyers were slight! Now that we have cleared the knee jerk phase, what will follow is an elegant catastrophe. Let us look at that DAX chart for reference to the dead-cat-bounce: After overshoots to the downside Buyers defended their game in an entirely rational manner, but now they commit a mistake which enables a snap decision for risk bears. Even those who are bullish on the ST outlook can admit these levels are unattractive in view of the fact that a second wave will oblige surrender on the activity. Remember re-openings are political fairy-dust, confidence is just not there and a quick look at VIX sitting above Lehman levels tells us this. Here many roads lead to home. Unfortunately thanks to the presence of real risk into US elections and year end flows. Thanks for the support coming with likes, charts, questions and etc. As usual keep the feedback coming 👍 or 👎
UShort
by ridethepig
8
ridethepig | NZD Market Commentary 2020.07.02📍 NZDUSD : NFP Positional Play This is an example of an erroneous defence. In similar style to that of the GBPUSD position, the highs 0.652x can be defended, since it unlocks an impulsive position which is somewhat cramped via RBNZ adding more free money to the pot. Buyers attempt at breaching the highs should be opposed, we have risk in play via Covid and Brexit, not to mention bankruptcies around the globe skyrocketing. Dark clouds on the horizon despite how the politicians attempt to sell re-openings as 'independence'. NZD and High beta FX will struggle to rally as long as the market is still concerned about further lockdowns in Australia as NZ will follow their lead. Tracking the same “lines in the sand” with 0.677x AUDUSD and 0.637x NZDUSD. ⚡️ US DATA PREVIEW: Primary Dealer Nonfarm Payroll estimates - RBC 8.0mn - Natwest 7.2mn - Citi 5.5mn - Morgan Stanley 5.285mn - BNP Paribas 4.5mn - Goldman Sachs 4.25mn - HSBC 4.0mn - Scotiabank 4.0mn - TD 4.0mn - SocGen 3.9mn - BMO 3.5mn - Wells Fargo 3.3mn - Credit Suisse 3.0mn - JPMorgan 3.0mn - BAML 2.8mn - Daiwa 2.5mn - Deutsche 2.5mn - Mizuho 2.5mn - Barclays 2.0mn - Jefferies 1.95mn - Nomura 1.5mn - UBS 1.5mn - Dealer Median: 3.4mn => So if we can sum up by saying, RBNZ is preventing NZD of moving higher and is of greatest important when considering a macro positional flow. On the other hand, USD seems more appropriate as a place to park until the storm passes. What we are talking about is outguessing extreme risk for the long weekend with the NFP knee-jerk flow. A very advanced and extremely bold call. As usual thanks for keeping the feedback coming 👍 or 👎
Short
by ridethepig
9
ridethepig | CAD Quarterly Outlook 📍 USDCAD Prepare for a flush in CAD with the ever-present threat of Canadian tariffs from Trump. Protectionism is excellent at the best of times...let alone in the middle of a pandemic... right 🥺 The unwinding is picking up speed - RSI on track for the decline and pressure looks set to carry us into the 70 handle. => A possible breakdown can also now be met with the USDCAD flows. As you can see, the CAD weakness has affected the basing structure and now sellers of the Canadian Dollar will deprive buyers the fruits of their deeply laid plans of Dollar devaluation across the board. Thanks to a little tactical finesse, to this trade.
TVC:CXYShort
by ridethepig
4
ridethepig | USDCAD Market Commentary 2020.06.17📍 USDCAD On the Canada side... This flow has become particularly interesting over the past few sessions, large macro hands front running BOC and piling into corporate debt and helping CAD hold at these levels. The risk to Canada really comes from the housing market, as soon as the stimulus stabilisers are off there will need to be another miracle to avoid panic selling. With stimulus retreating before the labour market has healed, the pressures on homes will become a blunder. This is so obvious and would be a blunder to miss. Now we are tracking a return back home, to the mean in a good mood - If buyers resign on the retest we can see the wave truncated (we'll keep updating the charts for this one). For those tracking EURCAD ...
Long
by ridethepig
6
ridethepig | Golden Cross for EURUSD📍 EURUSD G10 FX Strategy The analysis of this starting position shows us two important triggers to conduct additional entries to our long positions. => A flanking manoeuvre is underway, but also a quick-witted fundamental swing; the euro's transition towards a funding currency and eurobonds saves it from collapse. As long as this expectation exists, the euro is going to have large hands on the bid and sellers cannot administer any traps. 📍 Monthly Chartpack: 📍 EURUSD Technical Flows Whatever may be the case, the macro flows are beautiful, as beautiful as the legend of Hamilton. The trigger in 1790 was Britain, for Angela Merkel its Covid. European politicians needed to use a crisis to apply pressure at critical moments. This contact with federalising the debt is a game changing concept and will give euro strength until the dollar devaluation is exhaust...Getting back in touch with the technical flows and our original starting position which is just as miraculous. Eyes on 1.13 today, taking it with NY will open up 1.15 initial macro targets. This should allow sufficient light on further development of the romance in waves. All the more so, since w have already dug deeper into the live flows and revealed the most difficult secret of all, namely the art of when to marry and divorce positions. Thanks for keeping all the support and feedback coming 👍 or 👎 ...
Long
by ridethepig
36
ridethepig | EUR Market Commentary 2020.06.23📍 EURUSD breaking out of the consolidation/chop and starting to tactically move higher. As you all have noticed, volumes are a lot lighter as markets catch their breath back. The two clashing forces on the risk front remain set to hijack the flows at any time: 1️⃣ an increasing R0 / case numbers and; 2️⃣ re-openings / economic surprises. Overshoots on the European PMIs front this morning will be enough to trigger the final momentum leg. For those tracking the live flows in FX, invalidation in the current leg higher would come from a close below the 🔑 1.115x support in EURUSD. Thanks for keeping the support coming with likes, comments, charts, questions, 👍or 👎 !!
Long
by ridethepig
3
SPX: 3 days of the condorHi Guys, good morning! At the beginning of last week the index pulled back into the 1st Powell testimony before ranging during the three days of the condor. Last Friday it unfolded a bear trap before confirming support twice on monday at 3082 and resuming its run higher. To note the effect of Navarro's comments last night and price reaction into 3082 level before his comments were rectified. Keep an eye on the Economic Calendar and in particular on Wednesday when IMF will release the June 2020 World Economic Outlook Update at 9:00 ET (15:00). Thank you for your support and for sharing your ideas. Disclaimer: Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities. IMHO: The point of trading is to make money. To make money you must have money. Depending on the money at your disposal, you can decide what to do and how to do it. By having stops you decide how much you are willing to lose. By having targets you decide how much you want to earn. Be disciplined with your protocol and with your strategies for trading. Sometime you win, sometime you lose. Don't be greedy. Be realistic. Be wary but not afraid. Be curious. Use your brain. As long as your working process make sense and your spirit is calm, everything will be fine. Be patient and be prepared for any circumtances.
OANDA:SPX500USD
by cozzamara
ridethepig | Equities Breaking Down!📌 Flows to illustrate end-game cycle chains -> Here we are tracking a very advanced flow, the struggle for Long Bonds to complete the final ⚠️ breakdown and trigger capitulation in debt . This would be more natural to develop ahead of US elections as it would imply maximum pain giving enough energy to help form a base on 'surprise' Trump victory. To keep the pressure on we will see the usual talking heads; Fauci, Gates and the rest push for further lockdowns, but the correct flow was indeed called earlier in the month to switch from the 3,200 SPX which is when we went underweight US Equities. In the Dow, 26,500 is now acting strong resistance and will be difficult for buyers to crack that ahead of Elections; remember we also have no-deal Brexit and Covid all still to play for... The unaware will continue to buy blindly, unpacking the scrabble box and load thinking its a one-quarter wonder recession - retail participation is shooting through the roof. It was a necessary ✅ to clear before we can see the Sovereign Debt Crisis. Smart hands are tracking the claims number and understand that recoveries DO NOT look like this: Fortunately we were ahead of the weakness in Global Equities and Vol, but the rally has been difficult to defend: This next leg lower can now be played. Seller's positioning after Witching with this little loosening move created the room to attack. In the immediate time; look to target a sweep of the lows before adding any US exposure for the next business cycle. Notice how we still did not get into the 15,500 zone called earlier at the lows: The courage to intentionally let retail hang oneself for weeks; just on account on a remote possibility of a second wave; is now sadly going to be rewarded. Look at defaults coming to our theatres very soon, sellers smell blood and have suddenly awakened to fresh activity! We also have the VIX Panic Cycle entering into play right on time as forecast, it has been game, set and match for all of those trading VIX flows live: Thanks as usual for keeping the support coming with likes, comments, charts and etc!
UShort
by ridethepig
16
ridethepig | EUR Fast Flows 📍 Road to mastering 1.150x of Eurobonds play (schematic representation of the macro swing) 1️⃣ Counter the false conception that every single risk-off flow has to produce an immediate USD effect; waiting moves and underlying MT / LT game changer positioning on the macro front are also totally justified now that Europe are making steps towards mutualising the debt! 2️⃣ Recognise the idea of a 'second wave' in the virus as being the key one in this positional swing! With this in mind, struggle to prevent freeing moves beyond 1.15 / 1.16 this year and in doing so any dips from disorganisation of our opponents, should be strategically bought. 3️⃣ Have tremendous respect for the Fed devaluation strategy; avoid any premature moves to counter downside (outside of EM and GBP) and try rather to operate under the watchword of momentum . 4️⃣ Aim for total mobility to the topside in 2021, but not for the individual mobility of every single cross. 5️⃣ Get used to considering the control of the bid as a " matter of importance "; do not let unaware sellers at the lows be decisive. 6️⃣ What is important for the macro positional flow is not the attack, nor even the barrier, but only compression .
Long
by ridethepig
2
USDCHF SNB will try to weaken CHF, longs on dipHi, Powell did not want to weaken USD during FOMC ( or maybe he was trying but market did something different :) ) but SNB knows how to weaken CHF ( very often its short lived LOL ) and we do have SNB rate decision upcoming Thursday From weekly/daily chart perspective looks like buyers are around 0,93 and 0,92, so Im going to use the full zone ( if seen ) Stop: two consecutive daily close below 0,9160 Targets around 0,98 and 1,00 Good Luck
Long
by ForexClub_pl
ridethepig | DJIA Floodgates Are Open!!📍 Who's in Control? - Sellers clearly have the luxury of momentum on the recent breakdown, advancing here too fast would be an immediate mistake since after that buyers will lose faith and start to cover. The correct procedure will be a time-consuming chop inside the 25,000 - 23,000 range to shake out those travelling Robinhood crowd. We have the weapon of a zig-zag to thank for this play; make good use of it and in cases of too much pressure watch for Fed bending the knee. There now follows a tactical and measured move in risk-off as cases start to tick higher around the world again. If you are not already loaded on the sell side, the trip you are planning for here should be carefully measured and prepared before pulling the trigger. We are still yet to entice the major capitulation and pickup the lows. All that seems necessary before we can begin the advance later in 2021.
UShort
by ridethepig
3
ridethepig | USDJPY ST Market Flows 2020.06.12Eyes on UMich today. Sentiment remains awful out there despite how talking heads are selling re-openings to the masses. A very dovish Fed has forced Global Equities to play ball and marked a meaningful top across risk markets. VIX exploding higher after testing 🔑 25.0x support and implying the next move coming is a lot more sinister.  This ST swing does not change the long-term multi-year chart in USDJPY . Let's map a quick cheatsheet for those trading the flows today in USDJPY . Here actively looking to start adding shorts using strong resistance (108.5x) <=> soft resistance (107.5x) <=> soft support (106.6x) <=> strong support (106.0x) for reference. Thanks as usual for keeping the likes, charts, questions and comments coming. Good luck all those trading the weekly closing range.
Short
by ridethepig
3
ridethepig | CHF Market Commentary 2020.06.05Clearly all the action has been in EURCHF after the enormous bids that came through into euro yesterday. Large macro players are liking what they hear from ECB and the Commission which is setting the stage for the EURCHF short-covering. The key divergence can be seen in USDCHF breaking down, this isn't a CHF driven move but rather from the USD weakness. I am interested to chase this lower as risk sentiment begins to turn down again and CHF begins to find that safe-haven demand. Currently the outlook for CHF is firmly neutral, this can change as early as today's NFP. How it behaves below the 0.950x handle will be thoroughly examined, the totally rigid cast around the risk rally is still part of a "KNEE JERK REACTION" phase from the initial crash. This means that markets will begin to start trading the facts around a recession and slow recovery. If any any doubts of the recession consider the following diagrams: For a) see 2's 5's curve screaming recession For b) , consider the unemployment levels In this simplest of all positions, every other time this happened it ended badly for the economy. Assuming USD does not devalue materially into 2020 its repo will grow and continue expanding the balance sheet , one way or another eventually this is going to look like Fed has been financing the WhiteHouse and then the game is up. CHF appears in the FX desks to be starting to finally bow down to the boss, that is risk. The blockader that is employment, is not flexible here and able to go on long journeys in all directions. The elasticity; should be kept in mind and used to analyse risk flows as such.
Short
by ridethepig
2
S&P500 BUY - Beethoven's 5th SymphonyThis is a continuation of the US500 trade idea posted a while ago. I applied Elliott wave theory and fibonacci extensions in market geometry to predict key zones in price fluctuations. As I found Elliott studies so poetic and inspiring, I decided to do a twist with the name :) We are going for the bullish 5th wave. Look for signs of support around 3131 and enter long. There's also big chance to eventually test new highs due to FOMC report yesterday. Turn on your printing machines.
ULong
by theSoothsayer
ridethepig | EUR Long-Term Macro Map📍 EURUSD Principal rule: Consolidation or 'compacting' for a more politically correct term of debt across Europe is the ONLY way to save the currency. Covid challenged this, and France & Germany combo stepped up to the mark. A complex concept, which regardless of the amount is a step in the right direction and was enough to begin to chip away at some of the longer term macro tail risks. A very good time to update the before and after charts in EURUSD: Here the static weakness of the USD via artificial Fed devaluation is a heavy one that will play out over the following Months and Quarters. Now consider the position in 'DXY' below taken from last year. Greenback sellers have been encouraged and smart hands haven taken advantage of Europe being hijacked via the virus for long-term macro positioning. I am certain that in a few years, nobody will consider surrendering their euros for dollars. The disappearance of dollar dominance will open the way for a new and brilliant development of Europe and - the east.
Long
by ridethepig
3
ridethepig | NZD Long-Term Macro Map 📍 NZDUSD Long Term Macro Map An ingenious saving move from buyers, which is extraordinarily difficult to defend. The slingshot, you should also note is an advance momentum play. These come around only once or twice in a cycle, in cramped positions you cannot afford to give opponents free tickets and allow them to make an easy ride. The shakeout was flawless, now buyers are in a much better position from the lows as anticipated: On the NZD macro side, it's the same story everywhere with consumer confidence in the red and credit card spending low. RBNZ bazooka doubled their purchasing program to 60bn NZD last month, while rates are starting to find a floor and look cooked here till 2021. Arden is a breath of fresh air, the handling of the crisis was superb - as New Zealand begin unwind the social distancing we can see the Kiwi find strong demand as her leadership has not gone unnoticed! Updates comes to the AUDNZD chart tomorrow, those who wish to make their fortunes in the crosses will have to wait till later in the week. The limits of 10 charts a day on @tradingview are proving restrictive in getting the entire board updated. In any case, the supple, flexible and sometimes sincere NZD targets for 2020 remain at 0.675x and 0.755x for 2021 respectively.
Long
by ridethepig
2
ridethepig | Flatten the CurveA paradigm shift followed the "It's time" chart more rigidly than even I expected. Apologetically we can give the official ✅ for those following the example of dogmatism from @ridethepig and can see clearly how far we have come: "It's Time" 📌 It can be said that the opening knee-jerk reaction from "The Great Lockdown" is over and we can begin to enjoy a return back to the old 'normality' (whatever that means). The unemployment rate has likely peaked here in this cycle, it is curious how this happens so often, the cycle nature of time and human behaviour allows us the ability to prove all kinds of flows and forecasts; but with certain classical variations, as in the present case. So, given the huge development in claims, it is reasonable to challenge the highs of what is undeniably a historic crash. What can one learn from the flows, to fully understand this question we will need to begin digging a lot deeper. Thanks as usual for keeping your support coming with likes, comments, charts, questions and etc!
FRED:CCSAShort
by ridethepig
ridethepig | DXY Long-Term Macro MapThe attentive readers have been asking can USD still devalue in this race to the bottom! The simple answer is that this is a good ploy in in such a restricted monetary environment although this move would be considered a bad one nowadays from a strictly fundamental perspective: the weakness of the dollar is necessary in order for equities to continue the advance. US were faced with a 'choose your side' between a weaker stock market or a softer currency; and opted for the weaker green. 📍 On the positioning side... The fate of the game now depends on the retrace leg in macro charts. If the dollar is driven off the cliff, then as G10 & EM FX are already committed to the short-circuit the flows will be very simple to track. This is a nice illustration of the Quarterly theme "aggressive dollar devaluation". The move in question is transparent and therefore a good illustration of the theme and how to officially mark an outpost on the 'B' wave. So the correct play is to complete the ABC sequence before adopting a wait-and-see approach. In order to get in as quickly as possible and at any price, we must begin to dig into the inner swings on lower time frames. Today we 'know' that the satisfactory requirements have been met at 102.5x, the plan from last year: The longer term chart shows clearly the move(s) we are tracking and expecting. " => The move towards 102 is still corrective and within the bigger picture this is a large B wave of an ABC since the cycle highs in Jan 2017. " ✅ " => In theory we can expect another 5 wave decent to match the logic of the previous 5 wave move, ideally this will kick start the flow from 102-103 range highs. " ✅ The manoeuvre from sellers becomes crystal clear, a devaluation cycle, they wish to seize the 75 and 50 targets in the multi-year correction before raising the stakes later in the decade once supply shortages enter into the picture. But the move cannot be said to have positive value on volatility, since expansions and contractions in vol have a case to play : 📍 On the technical side... Here I had been expecting the sell-off (at last!) from the 102.5x highs and had prepared a nice problem for my opponent, namely the EURUSD explosive move to the topside and now threatening the ultimate break of 1.15xx. It is relatively easy for someone who knows about the CB intervention on such a line and how it must be put under pressure. The 87.4x in Dollar is a minimum target for our 'C' leg that we are tracking, anything beyond this would imply that the impulsive leg towards 75 and 50 is underway. In what follows from the comments, I will give me feelings and views to the next moves, so we can follow what is happening. Thanks for keeping the support coming with likes, comments, charts and etc!
TVC:DXYShort
by ridethepig
2
ridethepig | JPY Long-Term Macro Map The elements of Macro strategy 📍 On the JPY side... It is well known the vulnerability of Japanese corporates in this environment, they are particularly exposed because of the demographics and sector exposures. Restaurants, bars, entertainment etc all are looking very feeble, and with credibility seems to be fading on the monetary and fiscal side too since the latest rounds of stimulus there is room for a massive leg lower in JPY. For those following the conversations on Japanese fiscal bazooka, the sizes are insane... Abe just put through another 6% of GDP and raised the overdraft to +/- 15% of GDP. A comatose recovery is underway, even if the fiscal execution is flawless this will take years to recovery. 📍 On the USD side... Hedging will become a lot lot cheaper with Fed zero rates meaning that the demand for USD will increase as it remains a more attractive hedging instrument than JPY. So we have the following picture: the king stuck in retreat via Covid forcing the front end of the yield curve to stay anchored to rates, while the belly and long end are starting to dislocate and tick higher. This is screaming of longer lasting pain to come . Local politics will provide some ebb and flow although Trump looks a done deal. The only caveat is if Hillary throws her hat in the ring, low odds as per today but of course this will be one to keep an eye on and Biden dependent. 📍 For the technical flows... We are tracking an ABC sequence with the 'C' leg in play after this weekly close. The 151 remains the main target in the sequence with a time horizon of Q4 21 / Q1 22. The monthly chart is a little out of scope for retail trading, instead it will serve as a compass to help our Weekly, Daily and H4 maps. A round of Macro Maps will be uploaded over the weekend. As usual jump in with charts, views, questions or etc and thanks for keeping the support rolling with likes, comments and etc!
Long
by ridethepig
10
ridethepig | EUR Market Commentary 2020.06.03EURUSD exploding to the topside as USD comes under further pressure from domestic issues. While I am bullish on the euro more broadly, these latest moves are starting to look stretched above 1.12xx given all the cards that are on the table. Well done all bulls riding what has been so fat a very fast move; we are coming to the end of this initial ‘expectation leg’ around debt mutualisation of the block. Official confirmation coming later today will mark an end of this chapter and unlock a quick pullback for the next ‘fact’ leg which should be bought. On the technical side, tracking closely the 1.104x support as the next loading zone for bulls looking to ride the swings towards 1.15 and 1.20. 🔑 Remember markets trade expectations first and then facts later.
Short
by ridethepig
3
ridethepig | DXY Market Commentary 2020.06.05A quick update to the DXY chart which is essentially intended to cast some light over G10 FX as we prepare for NFP. In order to understand the dangers of pursuing a weaker dollar too energetically, we shall in what follows begin to point out the inner wave flows in which short-term moves become indicated. The process of short-term swing trading is automatic for macro players, having a clear understanding of the direction and which side occupies control ensures us of control over individual strategically important swings and the apparently desirable opportunities where retail begin to go overboard will become clear places for us to do profit taking and trap them in the opposite directions. Lets review a sketch of the Middle and Long game with Dollar: Clearly sellers wish to occupy the flow, in order to deliver an impulsive wave to the +/- 75 targets; but if they try moving too far too soon they will exhaust and allow buyers to prevent the attack. So, sellers will play the macro swing in incremental waves ... 1 ... 2... 3... 4... 5... The correct sequence is to play both the impulse and retrace exchange, and, in the current case, we are reaching the main impulse target so its time to leave late sellers no room to protect with NFP because they have to cover. For the Technical NFP flows: Steel Support 93.8x <=> Strong Support 95.8x <=> Soft Support 96.7x (we are currently here) <=> S/R FLIP <=> Soft Resistance 97.83x <=> Strong Resistance 98.8x <=> Steel Resistance 99.9x When major forces on both sides come under attack, it comes down to a sort of exchange / expansion in vol which we shall call: "Sellers trying to sell their lives for the highest price possible". Anyone with the slightest TA knowledge can tell sellers are gunning for the lows, they want to condemn bulls to death, it appears understandable given the domestic US issues on social and political unrest to want to sell your life for as much as possible. Imagine for a moment you are soldier, down to your last clip and you are surrounded... You would need to take as many enemies out as possible so you will pick your moments. Smart sellers will defend in the most important areas! Coverage resuming as usual here after @ridethepig returns back to London...Thanks as usual for keeping support coming with the likes, comments, charts, questions and etc!
TVC:DXYLong
by ridethepig
3