Shares to watch

stindig

Member
Messages
250
That was my first thought...but my second was that for countries with relatively weak currencies this could work very well - BTC is already used instead of currencies in some developing countries with extremely high inflation or very volatile currencies.
Exactly, although the transaction cost and speed of Bitcoin precludes it from being suitable for small payments - Bitcoin can handle less than 10 transactions per second. There are other cryptocurrencies that can achieve that though e.g ADAPay, based on Cardano.


Algorand is engaged with many governments with a view to becoming the technology behind new CBDCs
 

Froddy

Member
Messages
777
I think stonks will go a little higher from here before we correct. I’ll have a look at Fibonacci timing resistance later, and will let you know if I can find any clues as to any probable reversal date ...
 

Froddy

Member
Messages
777
I think stonks will go a little higher from here before we correct. I’ll have a look at Fibonacci timing resistance later, and will let you know if I can find any clues as to any probable reversal date ...
Chaps,

In the short-term, we have Fibonacci timing decisions for the S&P this coming Friday, and then again on 23rd June. These are low-probability but should not be ignored as potential reversal points given the historically weak seasonality in June ...

 

Froddy

Member
Messages
777
Froddy
Looks like someone’s capping gold at $1900 and silver $28.
To me.
What’s your take?
Hi Wattie,

It's a combination of things.

In both cases there's a confluence of Fibonacci extensions which is providing overhead resistance, and in both cases price is hovering around a key psychological level (think nice round numbers which people might set as entry levels or exit levels).

Here's gold:
Notice how price has fallen back below the retracement lines which are again acting as resistance

Here's silver (same issue):

As regards the key psychological levels, by way of further explanation, below you can see that there is a lot of volume around the $1,900 spot gold price (depicted by the nodes on the right side of the chart). This is “overhead supply” and there are probably sell/take profit orders set here, and supply is exceeding demand for now.

 
Last edited:

Wattie

Member
Messages
7,472
Hi Wattie,

It's a combination of things.

In both cases there's a confluence of Fibonacci extensions which is providing overhead resistance, and in both cases price is hovering around a key psychological level (think nice round numbers which people might set as entry levels or exit levels).

Here's gold:
Notice how price has fallen back below the retracement lines which are again acting as resistance

Here's silver (same issue):

As regards the key psychological levels, by way of further explanation, below you can see that there is a lot of volume around the $1,900 spot gold price (depicted by the nodes on the right side of the chart). This is “overhead supply” and there are probably sell/take profit orders set here, and supply is exceeding demand for now.

Cheers Buddy.
 

Wattie

Member
Messages
7,472
Cheers Buddy.
Hey Froddy had a good chat with a friend of mine here in Oz. Great guy.
He has just started a new business and has no history, nowt. His neighbor rocked up in a new Amorok (vw Ute thing)
Said to him, u should get one too.
Guess what.
Qld to melbourne application, no income , earnings etc
Approved. Even he couldn’t believe it.
Car arrives in 6 weeks.
Am I going fecking insane here because this is GFC all over again.
 

Froddy

Member
Messages
777
Hey Froddy had a good chat with a friend of mine here in Oz. Great guy.
He has just started a new business and has no history, nowt. His neighbor rocked up in a new Amorok (vw Ute thing)
Said to him, u should get one too.
Guess what.
Qld to melbourne application, no income , earnings etc
Approved. Even he couldn’t believe it.
Car arrives in 6 weeks.
Am I going fecking insane here because this is GFC all over again.
It beggars belief! Totally irresponsible and we’ll all end up footing the bill ... again!
 

Froddy

Member
Messages
777
Chaps,

Bitcoin is looking ready for a potential bounce here ...

Although price has consolidated within a range, there is evidence of RSI bullish divergence on the daily chart - not the strongest signal but a signal nevertheless.


Whilst there are never any guarantees, I have accepted the risk and have entered a long position in Coinbase (symbol "COIN"). There has been huge options activity in this stock today:
86820

HODL!
 
Last edited:

Wattie

Member
Messages
7,472
Chaps,

Bitcoin is looking ready for a potential bounce here ...

Although price has consolidated within a range, there is evidence of RSI bullish divergence on the daily chart - not the strongest signal but a signal nevertheless.


Whilst there are never any guarantees, I have accepted the risk and have entered a long position in Coinbase (symbol "COIN"). There has been huge options activity in this stock today:
View attachment 86820

HODL!
And hope Elon shuts up.......
 

Froddy

Member
Messages
777
Chaps,

The $SKEW reading has hit a new all-time high today, and should not be ignored - note how high SKEW readings have preceded previous declines (but not always).


It's likely that I will go completely to cash over the coming days, to sit out the Fibonacci timing I identified last week.
 
Last edited:

Wattie

Member
Messages
7,472
Chaps,

The $SKEW reading has hit a new all-time high today, and should not be ignored - note how high SKEW readings have preceded previous declines (but not always).


It's likely that I will go completely to cash over the coming days, to sit out the Fibonacci timing I identified last week.
Fed meeting will provide uncertainty......don’t expect them to say anything other than “everything’s fine”.
 

Froddy

Member
Messages
777
Personally, I will likely go flat everything - in trading, “cash” is a position. Re-entry is only a mouse-click away.

There are a few forces at play here - first, the Fed tomorrow night; secondly, it‘s weekly, monthly and quarterly options expiration on Friday. The latter means that prices will not be all that they seem this week and will be hugely manipulated.

There is the potential for the markets to be upset tomorrow night, but the run into Friday will be all about the hunt for liquidity above all else. After that is potentially where the risk lies.

I’m not saying you should sell everything - the markets are full of opposing opinions, and the majority are typically wrong (most notably my own)!
 
Last edited:

Wattie

Member
Messages
7,472
Personally, I will likely go flat everything - in trading, “cash” is a position. Re-entry is only a mouse-click away.

There are a few forces at play here - first, the Fed tomorrow night; secondly, it‘s weekly, monthly and quarterly options expiration on Friday. The latter means that prices will not be all that they seem this week and will be hugely manipulated.

There is the potential for the markets to be upset tomorrow night, but the run into Friday will be all about the hunt for liquidity above all else. After that is potentially where the risk lies.

I’m not saying you should sell everything - the markets are full of opposing opinions, and the majority are typically wrong (most notably my own)!
You can’t taper a Ponzi Scheme.
You can continue to lie about it!
Everything the Fed say is BS and will be right up to the point that one day it all collapses.

The Fed is creating $2,739,725.00 out of thin air every minute of every day......the world’s greatest economy- simply isn’t.
It’s bust.
 
Last edited: