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Falling

Wake up traders! (July Edition)Warning!Hello traders, it's been one month since i posted my ideal, how are you guys doing? If you were to refer to my previous ideals, you would see that my ideals were all on point, today i am here to share my views beyond technical analysis on US30. Beyond i start off, it's been a month, i hope you guys are trading alright, i had my fair share of ups and downs on both my personal life and my career (I am not a full time day trader). It wreaked havoc on my mind and my personal health, it was very difficult to cope. It is very important to take a time off once in awhile, a refresh button if you may, life is beyond numbers and money. Sanity is very important. I am very surprised by the current market movement, poor economic growth and reduced revenues and forecast from companies does not seem to move the market as how it should be. Corporate earnings are showing good results for Q2, however, does that mean that this rally is justifiable? Crazy buy volumes were detected across multiple time frames, it seems that people do have side cash and decided to jump into the bandwagon and start buying stocks base on good corporate earnings. The general market have the mindset that with the current inflation, stocks especially tech were able to keep up and maintain good growth. Here comes the million dollar question; but for how long? Current inflation stands at 9.1%, current FED interest rate is at 1.75%. Services PMI dropped to 47.0 from 52.7. I would like to point out that this all good corporate results will eventually lead to FED raising more interest rate to tackle inflation. Yes you may argue that FED mentioned 75bp is on the table, do not forget FED also mention they are data driven and will decide base on it. A surprise is coming. I believe a huge drop is coming, if you bought it at lows, congratulations! Be cautious, stay safe.
UShort
by Alexius_Strike
AUDUSD: BEARISH DESCENDING TRIANGLE 🔻AUDUSD: BEARISH DESCENDING TRIANGLE 🔻 BIAS: BEARISH 🔻 TECHNICAL PROJECTION: BEARISH On the H4, we have a bearish bias that price will retest "B" & "D" area and to continue further bearish to 0.6665 target to complete its "e wave" from the bearish descending triangle pattern. FUNDAMENTAL PROJECTION: BEARISH DXY STRENGTH: Market could be pricing further 75bps hike tightening to come & balance sheet reduction to continue at $60b & $35mbs over the three month timeframe. As price is currently retracing, look for a retest of 0.6800 before a move lower could be possible.
by maraxrara
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