SC Weekly – Trade Wars Heat Up and So Does Bitcoin

Overview:

The purpose of this article is to provide some insight into potential upcoming trades and portfolio management across several markets. 

Cryptos:

Bitcoin continues to push higher and the bullish swing may not be over yet.  The 9500 level is clearly on the table and the next push may take us there or higher.  There is still some opportunity to buy and potentially an aggressive trade setup.

Stocks:

The trade war has escalated and the bull rally is likely over, which was the catalyst we were waiting for. There are numerous stocks on our list that we will be looking to buy in the after being patient for so many months.       

Forex:

Look for the dollar to pare losses and strengthen this week, and there are a couple trades we are looking at starting with the Pound.

Comodities:

Surprisingly enough, Gold has not pushed higher during so much uncertainty.  With treasury yields continuing to fall, the trade war escalating, gold has been rather calm.  This may be an opportunity to buy some gold miners.

News Events: 

It will be Trade War for most of the week.  This is going to overshadow the EUR ZEW and GDP reports long with numerous CPI numbers coming out.   Consumer retail spending will also be one to watch for those that like to follow Economic data, but the focus is going to be on trade. 

 

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2 Responses
    1. Andrew Gonci

      Hi Mihael, we were going to post it officially, but it took out the trigger shortly after posting, and we opted for BCH in lieu of chasing. At that time it was over 7300 and the only way to catch it was to put in a market order, and since it was moving rather quick, we were concerned of traders putting a market order in and getting filled at 7400 and then it pulled back. Bitcoin Cash had not triggered so it had the second best chart, and opted for that.

      We will be looking for this next pullback. You miss them sometimes, especially with 24/7 trading.

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