I'm Expecting A Pull Back On Both The US Dollar & Bitcoin

10 days ago
(edited)
1 Min Read
285 Words

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Through history there has always been a strong positive inverse relationship between the US dollar and gold. During times of uncertainty or inflation, the US dollar does down and gold goes up. We are now seeing this transcend over to Bitcoin, digital gold. Now that the US dollar is in a monthly demand, well I'm expecting the US dollar and Bitcoin to pull back...before the next leg lower for the US dollar and higher for Bitcoin.

https://finance.yahoo.com/news/expect-third-stimulus-check-under-160500295.html

https://finance.yahoo.com/news/analyst-who-nailed-bitcoins-40000-level-says-50-collapse-could-come-next-140051309.html

https://cointelegraph.com/news/as-biden-preps-3t-stimulus-bitcoin-could-be-set-to-erupt

MY TRADING METHODOLOGY IN A NUTSHELL BELOW

I’m a supply and demand trader. The premise of supply and demand trading is when the market makes a sharp move up or down the large institutions i.e banks/hedge funds are not able to get their entire trade placed into the market, leaving pending orders to buy or sell at the zone with the expectation the market will return to the zone and the rest of their trading position will be filled.

I use multiple time frame (MTF) analysis to improve my discretionary trading decisions. MTF analysis involves analyzing the same asset on multiple time frames. The rule of thumb when using MFT is you want your charts to scale down/up by 4X – 6X. In my case I tend to look at:

Monthly Charts (curve time frame) – which represents that jet fighter flying over the football stadium.
Weekly Charts (trend time frame) – which represents the concession stands looking down at the field.
Daily Charts (entry time frame) – which represents being on the football field with the player.
4 Hr Charts (entry time frame) – which represents the center hiking the ball to the quarterback.


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