infamous7

infamous7

In this Elliot Wave Counting, I think we reached wave 5 so I'm not expecting a new ATH for the months to come.

infamous7

My long term bias for DXY will be bullish for the next months, until we break down this channel trendline then I'll switch

infamous7 Updated 

Gold is now at Wave 5, the peak of the rising wedge and the supply zone. I usually set my golden zone at 0.618-0705 so it's also in my golden zone.

infamous7

Bitcoin is presently consolidating within both our monthly and weekly Fair Value Gaps (FVGs), while also taking liquidity. Should the weekly candle close above 53,245, there's potential for the price to extend towards our next Weekly FVG level at 60,000. At the moment, the price momentum is slowing down as a result of the overlapping monthly and weekly FVGs,...

infamous7 Updated 

After reviewing the monthly chart, I made an observation: Bitcoin has indeed filled the monthly fair value gap (FVG), which explains the recent deceleration in momentum. Now, it remains to be seen whether we will experience a breakthrough or a retracement to our monthly discount zone. Coincidentally, within the discount zone, I've identified a monthly Balanced...

infamous7

In September 2023, gold prices had a sell-off for the whole month, reaching daily support levels while the RSI was oversold below average. Interestingly, during this period, the announcement of the conflict involving Israel coincided with gold's approach to a crucial support area, prompting speculation about foreknowledge or market pricing in of this event. This...

infamous7 Updated 

This resembles an ICT Unicorn model (not sure if this is what you call it tho): Price obtained liquidity above, accompanied by a robust volume push-down to 38.5k, forming a breaker block coinciding with a Daily FVG. It's noteworthy that the current Breaker block level constitutes 50% of the present range, validating the corrective wave. Anticipating a price...

infamous7 Updated 

My favorite setups are entries on breaker that has an FVG present, and overlapping timeframe FVGs

infamous7

Assessing two potential scenarios for BTC, my bias leans bullish. The recent closure of the CME gap and successful liquidity sweep above the gap contribute to this optimistic outlook. However, a critical factor to consider is the breaker block, particularly as it aligns with a corrective wave level, creating confluence for the short side. Monitoring the market's...

infamous7

I noticed this CME Gap since 2 months ago and with all the ETF news, I thought it would never reach it again, but it did lol

infamous7

For now, gold is resisting this upper channel resistance, a strong bullish movement to 2040 just occurred and if the bulls can keep up this movement, then we will breakout from the upper channel. For me personally, I think the lower channel will be broken and price will do a downtrend to my long term target: 1910, where we see a daily fair value gap and liquidity.

infamous7

Gold has no volume right now due to USD Holiday, but it's currently resting at the trendline, so gold has to make a move soon.

infamous7

I marked the following on the chart: Volume Zone POC Golden Fib Zone A Demand Block under a liquidity More liquidities in the area Multiple FVGs from 2007 to 1985 enough to pull price down H4 about to close as a shooting star RSI Divergence The only thing that can invalidate is the FOMC news happening in awhile.

infamous7

Wait for breakout confirmation to buy, or you can try to catch some dips in this range. Don't forget to set stop loss since there might be a gap below that it would like to fill.

infamous7 Updated 

We all know that gold's value increases especially during war. Looking at the chart right now, gold is at an important zone and RSI is oversold on the daily. It's all just matching up with the news that Israel is at war with Hamas right now. I am investing in gold. Not financial advice

infamous7

I've got to be honest, I'm not the best at drawing trendlines, so I'm a bit unsure whether the Gold chart is showing a falling wedge or a descending channel. But what's clear is that there are multiple confluences at play here. It's a situation worth watching closely if you're looking to make a move in the market.

infamous7 Updated 

I'll try to take a short position from the current supply order block then take partial profits at the next equal low, then the 4H FVG, and finally the volume zone. I'll wait for signs of reversal before entering a long position :)

infamous7

I don't see any volume after breaking this resistance, next volume zone is 39-40k. We might go straight there IF this breaks, but if not, then we will either range for days or retrace to my 24k level. Let's see