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EOS: A bit of a long shotRight now i don’t like EOS price action in all honesty. However, i noticed that some kind of arc is forming. I said “a bit of a long shot” in the title because this is the weekly chart and i don’t usually plan trades that are this long. However, when playing with timeframes of multiple months, i like to take a look at the fundamentals of the project too. Specifically, EOS plans to release their own exchange (“Bullish” is the name if i’m not mistaken) later this year/early 2022. This exchange will have a feature others don’t currently have: it will store every single transaction on the EOS blockchain itself. I can see the release of the exchange being a major catalyst for EOS’s price. All in all, i like this trade and i took a position. My average is something around the $4.9 mark. I strongly advice you to do your own research on this own because there are some kind of controversial topics regarding the project itself (specifically on the ICO). Good luck!
Long
by Verve97
Gold and DXY - What does 94+ imply? "Look for the arch in March"Gold has been in consolidation since the summertime highs. The fundamental picture for gold is the same and strengthening. Lots of noise about the rising dollar and the 'end-of-days' for precious metals. While there are many obvious cases for Gold fundamentals, we are often presented with the binary view (ST speculator noise) where DXY and GOLD have an inverse relationship. Instrumental correlation with gold in fact changes over time, for example since 2019 TLT and US10Y have been much more closely correlated with GOLD, but we won't dismiss the psychological impact of a rising DXY. So here is where I think we are based on past patterns. Looking for a rising DXY in a gold bull market phase takes us back to 2010, analogous to where we are now assuming (somewhat) symmetrical bull markets. This window shows a period of initial decline into support and then strengthening along with the DXY. This 181-day window for this phase to play out can be applied to where we are now with some success. From an initial turn-up of the DXY and the simultaneous drop from highs, we bottom this first decline in early March at NOV LOW levels. This test of NOV 30 LOWS in EARLY MARCH (1764 around the ~5th?) tests the 10yr arc support, before a similar rise of equal value brings us back to testing the summer highs and beyond. The DXY can continue to rise, which may initiate the sell-off into support before resuming the up-trend in spring into summer. I think this early March bottom is supported by the similar NOVEMBER/MARCH 2012 (Yellow) resistance tests at the same level, now flipped to support. I'm not a big believer in seasonality for gold, as much as I would say, CORN, but the NOV/MAR 1764 symmetry is noted! One concern with this may be that 94 on the DXY (above the yellow horizon in the lower pane) is a much higher, more psychological level than was present in 2010. A rise from current levels into and through 94 is marked out in purple April 2018 window by a similar selloff and eventual resumption. This is the most I've felt like writing here, maybe my presentation skills need to catch up with my thinking. But let's sum up by saying: "LOOK FOR THE ARCH IN MARCH" - March 5th 1764 support, bull off double bottom to test highs in July BONUS: This model gives an initial PT for OCT 2022 of 2648. But let's get through March first. Zoom out, chill out. Peace.
TVC:GOLDLong
by ptero1492