Overall Markets
The new year started very bullish and now we are seeing some pull back from gold to forex and crypto overall. Below I will share S&P targets, gold areas for a big market trade to come there. Also, my thoughts on Bitcoin and crypto along with a alt coin, I once again have my eyes on for a possible opportunity I will be watching to enter. Looking at the monthly analysis for all these markets are in the average of the high and low of January, to me this is a signal for another push higher or lower. This will take place during or the end of next week.
S&P
The S&P is clear that it is proving to show a clear breakout up. I used fib levels, to calculate targets over the next few months to about 5600. This is very bullish but it's also something to be aware of how the next 2 months move and speed in which they move because that is a BIG move. This below is my monthly chart and I see there is a lot of orders and open interest left in the 4500 range from December. I want to see a much bigger push up to close the month or on the other hand next week and into February we start to see the break down to interest left at 4500.
GOLD
Below I am sharing my daily chart on GOLD which is showing its squeezing weekly lows with big area of interest down below to 1870 which is a huge opportunity to take if S&P and the dollar gain strength pumping. Although, holding this low range is setting up for gold to break to pump into a significant move. This is why next week is so important and putting stops to lock in position profits is important right now.
EURO
This below is my daily euro chart which looks very similar to gbp usd and nzd usd in forex on the daily. We are seeing compression to the lows. I'm watching for a sweep to a pump, or a clear break and break to lower support. Which in all 3 the lows are not as big of a difference as opposed to the upside targets on them. So for these mentioned pairs I'm more interested to take long positions for a much higher potential profit then a short position to lower support in forex.
BITCOIN
Here is my Bitcoin Monthly chart showing BTC reaching resistance and next month i am expecting higher prices, but it still comes down to this month where the month closes and if it makes higher or lower monthly push after next week. If you have been in crypto you know it makes big fluctuations, low and high sweeps, so it could very easily come down to open interest around 34k. If I see a monthly cross down on BTC I will be opening potential short but that is far out till Quarter 2 or 3. So, even though currently i am only looking for longs and prices higher; this week is important enough because it could end up showing a different outlook which is so important to lock in your profits and be ready in case.
ALT COIN
The crypto alt coin Iam watching once again for a move is YFI. the potential on this crypto is very high and is in the DEFI category if you are not familiar with this coin. It is used for crypto lending/borrowing and many other financial operations in crypto of such. Below is my weekly chart. The keyword is "when" because it will cross on the SharpScope indicator, when this happens on this crypto the move is going to be a wealth changer. Targets to about 3-5x its value. I will be opening leverage contracts on this move along with positioning with spot purchases.
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