If you have not been following the calls from
@GarethSoloway
on
#Bitcoin
recently, you should be.
Take a look at this interview from the end of the week:
Follow
@Traders_Summit
for some of the best in depth interviews with traders and other market pros
If you are short "risk" on Yellen comments, 2 things to note: 1. She's not the Fed Chair. 2. The USD has not built on its overnight gains following those comments.
#markets
#forex
I am a gun owner. Matter of fact, I own several weapons. I am a former Marine Infantryman. I know how deadly an AR (or equivalent) is. It is scary that I can walk into a store an purchase almost any non automatic weapon in 15 minutes. Let's be honest, it's not right.
Not only is the SPX at the 61.8% retracement, also the highs from 2018 and early 2019. This is a big big big level that will be fought by both bulls and bears in the coming sessions.
#markets
RIP President Bush. I personally met you twice in my life. Once in Somalia, Africa, in 1993. Then in Dallas, Texas, in 2007. You were a great American President, and we will miss your leadership and dedication to this country and its people.
I have seen a lot of traders note the 'SPX megaphone pattern" and the SPX will fail at 3050.
Although it is possible, if you take a look at the XXXJPY pairs and understand thier strong correlaiton to the SPX, I would not be so sure we fail in equities.
Keep an eye on USDJPY
The $DXY not only put in a false breakdown today, but also a piercing line (bullish) formation by EOD. If you trade equities, this is more of a sign of "risk off" than anything.
It's not just an
#ECB
#BOE
story either. If you look at AUD, NZD, CAD, MXN etc.
#forex
#markets
#FX
$BTCUSD flag pattern points to 12K roughly. Everyone will try to buy the 20K level as this was the previous highs from 2017. A flush below those levels don't seem that impossible as these markets have been as wild as anyone could have ever imagined
#Bitcoin
#cryptocurrencies
--->
One would argue that:
1. Everyone expecting stocks to rally into year end (window dressing, Santa, Animal spirits, Brexit, Stimulus, etc)
2. Everyone is loaded up short the USD.
What could possibly go wrong?
Not a lot of people care about this but I will tweet it anyway:
The last couple sessions the $EURUSD has developed a "death cross."
Yes, it has rallied the last couple sessions too. However, it is still holding and developing, so before being "too bearish" the DXY, take note.
You don't see a lot of bullish engulfing or bearish engulfing candles on the daily charts in FX due to the 24hr nature of the market. Today there are a few.
#forex
Just so I got this straight (and please correct me if I am wrong):
One party wanted 3T in aid. The other would only do 1T. The party that wanted 3 came down to 2. No deal was reached.
Stocks surge higher. Is this correct?
I follow A LOT of great analysts. Macro & economic trends, etc. Superstar thinkers. However, they couldn't trade themselves out of a paper bag if they needed too. Not being able to understand the "pain thresholds" in the market is their biggest problem.
I just reconnected with an old friend that I haven’t spoken with in 20yrs. These photos are from 30yrs years ago and he just texted me these. Life moves fast.
Don’t let life go by with unresolved relationships.
Jeff, wish I had an hour, beer in hand, to talk things out with you. The world will not be the same without you.
R.I.P my friend.
My dad came over our house for a pre-Thanksgiving feast with 3rd cousins last night, and he came bearing gifts from 1999. Pictures of our tradingfloor at Centerpoint Capitol in Dallas, Texas. (look at the monitors haha)
I want wish my wife
@lisanmorrow
a very special birthday today. It's amazing that I won the lottery of this woman spending nearly half of her life with me. Happy birthday, Lisa. XOXO
$DXY is near the long term 13yr channel resistance, but also above the 2020 high to 2021 low 161% weekly Fibonacci extension. RSI is overbought and divergent on the weeklies so $DXY long term bulls should be very careful.
@forexanalytix
#forex
#markets
#trading
I know the USD is mostly bid via the EUR, but the USD looks stronger against most majors. With precious metals such as gold and silver moving higher, alongside USD...I'd be careful long equities. when gold and the US Dollar go up at the same time...usually not a good sign.
For the record: DXY closed at the highs of 2021 and levels not seen since November 2020.
NOT one major bank saw the USD rallying in 2021. Please correct me if I am wrong.
From memory, this was the consensus trade of the street Dec 2020 that the EURUSD would be 1.2500+++
Yesterday I had the opportunity to catch up with an old friend. We served 4 years together in 4 different parts of the world. Have not seen him in 28yrs. As you can see, we didn’t age a bit (haha)
When carving his pumpkin last night my youngest son broke the eye accidentally. Without pause he continued to march on. He turned it around and made something really cool out of his mishap
#HappyHalloween
You ever hear the saying "some of the best trades you may ever take are the ones that make you puke?"
I assume there is A LOT of that going around right now.
#forex
#markets
This is pretty much the highest honor I could receive from the fintwit community. I am very humbled here. Thank you
@donnelly_brent
BTW Brent is ridiculously underfollowed here on
#fintwit
.
Next Friday, the 16th of December, come listen to Dr. Gladys McGarey "The mother of holistic medicine" talk about living a long life incorporating holistic medicine into your life. She's 102yrs old and an AMAZING person who has accomplished so much!
I know everyone is bearish the US Dollar. Just shelf this chart for later, for the "just in case the EURUSD stalls at the 38% retracement on 9-20-18" ----->
When we are past this pandemic, I think the global consumer will take a hard look at what companies were "for the people" vs. which ones were "out for themselves and their shareholders."
This man was one of my wife's very good childhood friends kids soccer coach. It's a very sad story. So, you may have your own opinions about the virus, but just remember, to some people it is more real than you think.
I head this story yesterday by phone call.
FX Traders THINK for a moment - USDJPY big breakout last week. JPY longs crushed, USD long positioning increased. This week, key reversal candle. COT data today will be important and may argue a lot lower USDJPY --->
Timing is everything. You can't take to twitter every day claiming you are a USD bull and whenever there is a bounce you do victory laps. That's not how trading works.
The problem with the USD at the moment is everyone was long going into last week and added more longs the last two days. It's called poor positioning....
Gold has spent the last two weeks working off overbought conditions after a 6yr consolidation breakout. The pennant formed is a bullish consolidation that will probably break (higher) next week --->
#gold
#GC
When people say "I only look at price, nothing else matters." that is a way of saying "I really don't understand what is happening at all, so don't ask me these things."
#facts
#markets
#trading
#FX
#forex
#nikkei225
Has a bearish engulfing candle after hitting a 30+yr high and possible false breakout.
As
@hmeisler
said yesterday "more chatter on Nikkei than AI recently"
Truth.
#JPY
$USDJPY
#markets
#stocks