BTC 4 HOUR CHART – Stuck in a rut
BTC remains stuck in 60-65K as it continues to trade sideways in a range. Given its history, the range is too tight to last for long but while within it expect more chop.
Looking at this chart, you have seen me mention my Amazing Trader charting algo, which even with a volatile crypto, forms patterns and levels (see the bounce off resistance) that can be used to trade.
XAUUSD 4 HOUR CHART – Another record high
With another record high (2670), there is no change to what I have been saying
When in unchartered record territory, resistance is only a guess so use the latest record high as the only level that matters,
For day trading, watch 2650 as a pivotal (bias setting) level.
However, to suggest a pause, it would need a day without a new high.
AUDUSD 4 HOUR CHART – FAILURE?
When we talk about failure, AUDUSD failed to sustain the break of .6899.
Now it is dependent on the trendline and .6814 holding (and .6782-00 as well) or momentum will be broken and the last leg up negated..
In any case, the deck is cleared of buy stops unless 6908 is broken.
Global debt just reached $312 Trillion. The US is putting up $1 Trillion in debt every 100 days since, not saying anything, 2021. One might think with such out of control spending and more to come if Harris is elected that the top executives in every industry there is are hedging against that right now? A perennial icon in executive attitude surveys (not to be named here) indicates the vast majority favor the sell side of stocks worldwide if Harris becomes President. At an aggressive level. The reverse for Trump. Not making a political statement, just stating facts. Food for thought.
EURUSD 5 MINUTE CHART – WHY I LOVE THE AMAZING TRADER
Look at the bounce off AT support at 1.11918… this is no coincidence…why it is called “Amazing”… same support on a 15 minute chart
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