Unfiltered Forexx

In the last press conference of the Fomc Jerome said they're trying to achieve a "soft-ish landing". In my opinion according to my research a soft-ish landing means artificially crashing the market (as we are seeing now) so that when the actual depression kicks in it won't come as much of a surprise therefore the market will not tumble any lower than how low it should go.Think of it as a goat poisoning itself right before its slaughtered.  "I'm a Forex trader. I trade currencies & Gold, how is this article relevant to me?" Simply put, an economy isn't an economy without goods & services. Therefore, companies provide these goods and services thus making up the stock market and a country's economy is controlled by supply and demand for goods & services and the medium of exchange is a country's currency thus a stock market especially the US stock market has a direct influence on the exchange rate not just of the dollar bu...

More tears among investors as the dip keeps dipping, but before we get to the analysis, do you know what caused this dip?   #citadelscandal #UST I hope you know Luna is now $0.00, 100% down, my condolences to the investors.  Checking Bitcoin's Weekly chart, we saw a sharp break below the critical $28k support now we're back at the levels of $29k. According to me, we still aren't out of the woods yet, I see a possibility of price hitting as low as $18k as I have marked on the chart above and that to me is where if the price reaches I will start being buy biased. I think in probabilities myself that's why I'm bearish even now, the price is more likely to keep falling than to start a reversal now.  Here' s my daily chart, I see a retest, I am very bearish on this pair. I have made a good amount of money obeying what the price is showing me since the fall from $45k and that's not something I'm about to quit. I would really not be shoc...

Often it is considered to be doubting yourself and your own thoughts when you start to question an idea or a solution you might have but I tend to disagree.  Many atimes while going on with my trading activities, investing or implementing a new idea/method, basically everywhere, I question my own idea severally. These questions do not have answers but rather lead to more questions and those questions lead to more questions and in the end now I start finding the answers myself and put the pieces together making my initial idea more accurate & more efficient. I'll relate this to trading. System Building . When forming your own trading system you might not know everything good that a trading system needs to have but by asking yourself questions you'll most probably figure out more than three quarters of all necessary elements of a trading system all by yourself even before doing any research.  New traders mostly have the habit of asking someone who they consider ...

The 'Cry' in 'Crypto' is clear now more than ever as investors are shedding tears having lost over half their money on Bitcoin having bought the $68k top. Adding on to the fact that actual buying price is usually about $2k higher and in some cases even $5k more, all the more reason to cry harder. In my view, I expect a deeper decline to $28k, then from there onwards there should be a good reversal at that low, even if it's a deadcat bounce I honestly expect something like a retracement at least. The $28k mark is a key support level as you can see looking left in the past & even in last year's bear market that's where the price reversed & the bull run resumed and a new ATH was made, this time I can't exactly say that I expect a similar situation but what I do expect is a steeper correction. I day-trade on bitcoin especially during such major price movements because the short-term continuation patterns that form especially on weekends a...

Yesterday both Nasdaq & the Dow Jones indices had their best day of the year so far. Nasdaq went up by about 600 points while Dow skyrocketing an impressive 1,000 points.  Today, both indices have had their worst day in the year so far. Nasdaq having dropped 700 points while the Dow being down 1,100 points so far.  Jerome is a Liar. I'll tell you why. Yesterday the Fed hiked the Rates by 50bps as expected. Jerome then gave a speech on the state of the economy and how the decision to hike the rates was arrived at and talked about the key indicators that would influence their decision on future hikes. If you missed it you can watch it  here .  Being the Face of the Fed, Jerome Powell did what he does best which is create optimism during times of uncertainty. Yesterday's massive gains in the stock market were what I'd love to call "short-term relief" meaning things are still bad but here comes Powell to give investors & citizens a Ray of hope. Suc...

Download the image for a closer look. Straight into the thick of it, continuing from the previous blog post, Gold is currently in a downtrend but I'd love to call this a healthy pullback since the uptrend is still on. What we're seeing now, the dip from 2065 levels, speaking like an investor (chuckles) is an opportunity provided by the market for investors to dump their stocks & buy Gold instead since the sorry state of the economy, rising rates & rising inflation makes all other investments non-promising in the short run of about the next two years in my view. Technically speaking now, price has found support at that 1865 level which looking left we see is a zone of former resistance and the most interesting thing I can say relating the coming rate hike to the current price level is that on that same week (1-5th November) we had the exact same events on the USD side namely (in summary) the interest rate decision on a Wednesday (0.25% unch) followed by the N...

“You can’t think of a worse environment than where we are right now for financial assets,” billionaire Paul Tudor Jones said in an interview with CNBC  Inflation is high, the stock market is underperforming, and economic growth is slow.  There's a Coming Rate Hike to be announced tomorrow and there's still more coming, Half point rate hike (0.5%) and is set to get more aggressive. The Fed seems to be fully focused on controlling inflation with these rate hikes. However, that might not actually happen, Inflation is currently at a 40 year high and it doesn't seem to be slowing anytime soon and even if it does slow down it might happen slower than the speed at which the Fed is rising rates meaning the situation might get worse overtime and investors will just have to hold onto their funds and buy stocks when they are lower. Commodities such as Gold & Oil may see a spike in prices since theoretically Gold price is supposed to dip as interest rates rise due to th...