Cat's whiskers

I said the 230 level or thereabouts in yesterday's post for potential Dax resistance, and it's interesting that it did flounder around there today, got a bit above it, but couldn't push higher. Could be just because it is Friday and we'll see it move higher next week, or not. Dow is just up there isn't it? Looks ripe for a correction, but as soon as it looks like coming down, or does come down a bit, it just keeps getting bought right back up again.

Bitcoin looks like it could be about to topple. I warned a friend who's been long Bitcoin since 2015 about this a couple of weeks ago, but these Bitcoin buyers really do think it is headed for the stars - 10,000, 20,000...you name it, so there are many people just sitting through the pullbacks and hanging on in there, but boy, that to me is a risky strategy. Bitcoin is great to trade, but to hold as an investment?? Big risk I';d say given its volatility. Anyway, I think we could see a pullback fairly soon, as the pa is indicative of a topping market, and I'd say a return to 4,000 bucks could be on the cards, which is the Daily 100sma which sent it back up in September, although that would be a much bigger fall now than it was then if we see those levels again.

GJ held on S2 today which I had as my lowest level, combined as it was with the H4 100sma. I now have it in a range from Wednesday's high to today's low, so that sets the scene for next week. I'll do my best to post my pre-London TA for GJ next week for all those who are interested.

England under 17s football team play in the World Cup final against Spain tomorrow, so C'MON YOU LIONS!!!!!!!!!!!!!!!!!!!!!!

PS - I've already put money on the senior English national team to win both the 2022 and 2026 World Cups!

The weekend is upon us, and as they say down under - ' have yourselves a blinder '.

have yourself a blinder too.. thanks.. i agree with your comments.. re Fx and indices

on the dow dips.. just buy them

The video cracks me up.

Yeah seen that one before...

I've just been ignored by KTOTAM ( who's there in Russian ), who has two buddies, one subscriber, and 145 people on his ignore list. Someone with a severe attitude problem I'd say

KTO TAM? You'll never know mate, you've ignored them all

let me add myself to the list.. LOL.. KTOTAM Is probably the guy in the video that keeps asking questions.

Just in case there are any Bitcoiners out there, this is my daily chart from 19th Oct highlighting just how far it has risen from its big moving averages, and why I thought that at this level, whether it continues higher or collapses back down to its 100sma was 50/50. At present it is putting in a slightly lop sided head and shoulders pattern, so I think the chance of a pretty big pullback is quite high over the coming couple of weeks or so. Asked by my friend, who has been long Bitcoin for two years, and is not a TA person at all, why I thought it was going to come down, I merely told her that I don't think it is coming down, but it could do from these heights, and sooner or later, price always returns to its major moving averages.

Any Dax traders reading this, I wonder how you see it for tomorrow/next week, because I am expecting it to come down from where it is now. I have a strong topping moving average on the H6 tf which so far is holding as resistance, the penultimate candle was a perfect doji, and the last H6 was negative. The weekly candle tells little, except that is was strong, with an almost complete full body, but the Daily hit my topping MA on Friday and closed lower. The H4 candle closed as a shooting star. So, all the technical indications are there for a Dax pullback probably beginning tomorrow, but we'll just have to wait and see whether the money is seeing what I'm seeing.

Awesome performance by the Young Lions on Saturday, thrashing Spain 5-2 to win the Under 17s World Cup!!!!!!!!! England now have the best youth football teams in the world, so hopefully we can carry it forward to win the World Cup in 2022. We haven't got the team to win it next year I don't think, but with this incredible crop of youth talent coming through, we are going to be a force to be reckoned with over the next ten years or so.

Oh, and then of course there is what's going on in Catalonia this weekend. Added to the bearish technicals of Dax, this is a potent mix for some significant downside, in fact, a sizeable gap down tonight would not surprise me at all.

GJ H1 200ema/sma resistance atm, and H3 200ema support. Could break either way I feel. To the upside I haveR1 @ 14,988 as potential first resistance, then 15,015 ( 50% fib ) , then R2/61.8% @ 15,047.

Downside it's already on the 61.8% taken from the Oct 19th low, but I think the 14,891 H3 200ema support level could be difficult to break. &6.4% is beneath @ 14,874.

Looked at both Dax and GJ this morning to see which one to trade, and I'm glad to say I made the right choice. Dax dead again today.

Picking Dax for the London open this morning as GJ looks a bit messy, though might move over to it later. Dax looks promising for a move up to R2 around the open, though it's got to come back a bit first from where it is now. May be a bit higher than R2, as I have an R level above it at 13,300, so what I'm hoping for is a dip back to around the 1m 200ema, which hopefully will give a chance to go long.

Just realized that Dax has frozen, with both my brokers?! Anyone else out there with a frozen Dax from just after the Frankfurt open. I'll check Deltaone#s thread. thread.

Apparently a holiday in Germany today, which explains the above, though my Dax charts are now back on.

Bakc on GJ, and R1 @ 14,983 looks on this morning, so I'll look to go long provided London pull it back a bit.

https://www.ft.com/content/d3dd91de-...6-b25f8adaa111

Both GJ and GU are at key resistance levels, from which they could be expected to come down to find support again, but of course tomorrow's interest rate rise, if it happens, will surely boost sterling higher. But if the BOE decide not to hike interest rates by a 1/4%, then it is likely that sterling will come down heavily. We'll know tomorrow. Meanwhile, pound pairs are not likely to do too much.

Hi cat
Very nice journal.
I'm in GCAD and GZ long and will be going BE in anticipation of tomorrows rate hike. It had better happen lol

Thank you. I think a great many people will be saying the same thing. Not me though, I value my health, and will be watching from the terraces.

I wish I could be sensible,,,,,, lol

Double target: App 0.618 Extension 2.618---
Volume decreasing.

Technically, GJ and all major GBP pairs should fall today, but we know that if the BOE go ahead and raise interest rates, then this won't happen. If they don't though, then WALLOP!!....this baby is set to fall.

This H3 GJ chart shows what I would expect under normal circumstances.

The Daily is interesting though, because it does actually contradict the smaller time frames, to show a strong indication of bullish continuation today, but, it doesn't show the strong resistance level I have around 15,183 that I posted yesterday.

We will know soon enough, but I'm not a player through such big red flags, and will wait serenely from the sidelines. I trade, I don't gamble.

Dax though does look like it may come down today, so that's where I'm headed now.

Just emailed my northbound GJ levels to a mate of mine -

' GJ has the 5 day 200ema that has already been tested and sent back in Sept, so this should break today if they hike, and next R up is the 200sma @ 16,160, so I think that will be hit, perhaps not today, but you never know. If they don't hike, which I hope they don't, then some serious selling, and technicaly, it should come back a bit. Haven't looked at GU , but similar big moves on hike scenario. '

I've got a Dax high today of around 13,500, so see how that stands. May push up with the London open in a couple of mins?