Press review - page 619

[Sergey Golubev]

EUR/USD - bearish reversal (based on the article)

• "Choppy, contracting price action (wedge/triangle building) can put a trader's patience to the test. The choppier it gets the closer we are to making a material move. The chart pattern currently under construction is coming around nicely with price moving towards the apex."
• "Symmetrical triangle or descending wedge? Does it matter? Not really. As it stands now it is taking on the shape of a symmetrical triangle, but should we see a break of the 7/19 low (11575), we will likely be looking at a run on the 11500-level. With another hold of this key level, the symmetrical triangle could shape-shift into a descending wedge."
• "Overall, the days ahead may hold more of the same uninspiring price action. If you are fading levels for scalps, then there is support and resistance to play off. For those looking for a breakout, patience will likely serve you well."

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The chart was made on Metatrader 5 using HWAFM tool pattern tool from this post.

[Sergey Golubev]

Crypto News - Bitcoin:  daily bullish ranging; 8,479 resistance is the key (based on the article)

• "The price of bitcoin surged above $8,000 last Tuesday for the first time since May after the Group of 20 (G20) meeting in Argentina concluded with little urgency to take regulatory action on cryptocurrencies. In a communiqué, G20 finance ministers and central bank governors expressed confidence that the technology underlying alt-coins “can deliver significant benefits to the financial system and the broader economy.” Many of these benefits were discussed in my interview with Marco Streng, cofounder of Genesis Mining, the world’s largest cloud bitcoin mining company. Genesis had a huge win last week as securities regulators in South Carolina dismissed their cease-and-desist orders from March. The move, according to CoinDesk, marks the first time the state dropped such orders against a blockchain startup."
• "Keep in mind, though, that we’re still very early in crypto investing. It was only 10 years ago that the mysterious Satoshi Nakamoto wrote the now-famous whitepaper that led to the creation of bitcoin. Volatility is still roughly six times as high as large-cap stocks and gold in a single trading session, and 11 times as high in the 10-day period. As I told Market One Media recently, the space remains speculative, but there are opportunities for tremendous upside."

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Chart was made on MT5 with Brainwashing system/AscTrend system (MT5) from this thread (free to download) together with following indicators:

• MaksiGen_Range_Move MTF - indicator for MetaTrader 5
• ASCtrend - indicator for MetaTrader 5
• Ichimoku Cloud - indicator for MetaTrader 5
• Quick ZigZag plus DiNapoli - indicator for MetaTrader 5
• GMMA - indicator for MetaTrader 5
• Vortex - indicator for MetaTrader 5

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Same systems for MT4/MT5:

The beginning

1. ASCTrend system, the beginning, part #1
2. ASCTrend system, the beginning, part #2
3. ASCTrend system, the beginning, part #3
4. ASCTrend system, the beginning, part #4 
5. Digital ASCTrend (Digital Filters with ASCTrend system combined).
6. LabTrend (LabTrend indicators, LabTrendZigZag, templates, Labtrend EAs) - the thread 

After

• The main AscTrend thread is this one.
• Asctrend indicator in depth 
• ASCTREND SYSTEM summary (good EAs included)
• Brainwashing system/AscTrend system (MT5) - the thread

[Sergey Golubev]

Twitter - weekly bullish to be resumed; 33.90 is the key (based on the article)

• "Twitter announced its second quarter results on Friday, July 27, reporting a 24% increase in net revenues to $711 million. Revenue growth was ahead of market expectations as well as our expectations. In addition, its adjusted EBITDA margin expanded by over 6 percentage points over Q2’17 to 37.3% for the quarter. Resulting net income and EPS beat consensus at $134 million and $0.17, respectively."
• "Despite strong financial results, Twitter’s stock plummeted 20% on Friday to $34 due to a slowdown in user growth. Its total monthly active users (MAUs) were up 3% on y-o-y basis to 335 million for the quarter, but saw a 0.3% decline on a sequential basis. Twitter’s resulting implied revenue per user for the quarter stood at $2.10 for the quarter (or $8.40 on an annualized basis), up from $1.75 in the year ago period."
• "For the full year, Twitter expects a mid-single digit sequential decline in MAUs through Q3 due to three key factors. Firstly, the company’s decision to no longer renew paid SMS carrier relationships in some markets could impact near term growth. Secondly, the company’s added focus on complying with the European Union’s General Data Protection Regulation could have an impact. And lastly, the company is increasingly focused on improving the health of the platform by removing fake news, hate speech and other such areas, which may take a toll on near-term metrics."

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The chart was made on Metatrader 5 using HWAFM tool pattern tool from this post.

[Sergey Golubev]

Crypto News - Bitcoin:  weekly bear market rally to the possible bullish reversal (based on the article)

Weekly price is located below Ichimoku cloud in the bearish area of the chart. The price is testing the resistance level at8,479 to above for the secondary rally to be started with the bullish reversal resistance level at 12,247 as a next target to re-enter.

• "Gibraltar United Football Club is going to pay its players in cryptocurrency. Football teams have previously embraced cryptocurrency and blockchain technology, but Gibraltar United F.C. will be the world's first football team to introduce cryptocurrency as payment for players."
• "The club's owner, Pablo Dana, announced that Gibraltar United F.C. started a sponsorship partnership with blockchain-based platform Quantocoin. UK's Guardian newspaper quoted him as saying all player contracts will include payment agreements in cryptocurrency by next season. Dana is an investor in Quantocoin."

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The chart was made on W1 timeframe with Ichimoku market condition setup (MT5) from this post (free to download for indicators and template) as well as the following indicator from CodeBase:

• Price prediction by Nearest Neighbor found by a weighted correlation coefficient - indicator for MetaTrader 5
• MaksiGen_Range_Move MTF - indicator for MetaTrader 5

[Sergey Golubev]

Intra-Day Fundamentals - Dollar Index, USD/JPY and GOLD: CB Consumer Confidence

2018-07-31 15:00 GMT | [USD - CB Consumer Confidence]

• past data is 127.1
• forecast data is 126.5
• actual data is 127.4 according to the latest press release

if actual > forecast (or previous one) = good for currency (for USD in our case)

[USD - CB Consumer Confidence] = Level of a composite index based on surveyed households.

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From official report :

• "The Conference Board Consumer Confidence Index® increased marginally in July, following a modest decline in June. The Index now stands at 127.4 (1985=100), up from 127.1 in June. The Present Situation Index improved from 161.7 to 165.9, while the Expectations Index declined from 104.0 last month to 101.7 this month."

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Dollar Index (DXY) M30: range price movement by CB Consumer Confidence news events

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USD/JPY M30: range price movement by CB Consumer Confidence news events

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XAU/USD M30: range price movement by CB Consumer Confidence news events

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The chart was made on MT5 with standard indicators of Metatrader 5

[Sergey Golubev]

Difference Between Dow, Nasdaq and S&P 500 (based on the article)

In the U.S., market participants focus the majority of their attention on three indices – S&P 500, Dow Jones Industrial Average, and Nasdaq 100. These indices are of course highly correlated to one another as they track companies impacted by the same business cycle and other important macroeconomic factors.

Additionally, there is some cross-over in the stocks that are included in the ‘big three’. For example, the technology giant Apple Inc. (AAPL) is a constituent included in all three. However, there are big differences between the Dow and Nasdaq and S&P 500 - such as the number and type of stocks included in each index and how index values are calculated.

How is the Dow Jones, Nasdaq, and S&P 500 Calculated?

The S&P 500, created by Standard & Poor’s in 1962, represents the broadest measure of the U.S. economy among the three major indices. The index value is calculated by weighting each company according to its market capitalization and then a divisor, which is set by S&P, is applied to produce the final value. The simple calculation is as such: sum of the market cap of all stocks included divided by the divisor, or total market cap / divisor. 

The Dow Jones Industrial Average, often referred to in short as the ‘Dow’, is the oldest index, dating back to 1896 and is the most globally well known. The Dow represents 30 large cap stocks as determined by the Wall Street Journal. Unlike the S&P 500 and the Nasdaq 100, the weighting for each component in the Dow Jones Industrial Average is ranked by share price, and then a divisor applied to create the final value.

The Nasdaq 100 is the youngest of the three indices having begun trading in 1985. It represents the largest non-financial companies listed on the Nasdaq exchange and is generally regarded as a technology index given the heavy weighting given to tech-based companies. The Nasdaq 100 is based on the market capitalization of its components.

Trading Differences Between Dow Jones, S&P 500 and Nasdaq

Despite the tight correlation between the major U.S. indices, they each have their own ‘personalities’ in how they trade due to the differing make-up for each index and importance of certain companies and groups of companies (sectors). The S&P 500 is the least impacted from day-to-day by any single one stock given it is comprised of so many names. With that said, there are a handful of sectors which have the most importance on the index.

Major Differences between Dow, Nasdaq and S&P 500: Breakdown of weightings - 

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Chart was made on MT5 with Brainwashing system/AscTrend system (MT5) from this thread (free to download) together with following indicators:

• MaksiGen_Range_Move MTF - indicator for MetaTrader 5
• ASCtrend - indicator for MetaTrader 5
• Ichimoku Cloud - indicator for MetaTrader 5
• Quick ZigZag plus DiNapoli - indicator for MetaTrader 5
• GMMA - indicator for MetaTrader 5
• Vortex - indicator for MetaTrader 5

==========

Same systems for MT4/MT5:

The beginning

1. ASCTrend system, the beginning, part #1
2. ASCTrend system, the beginning, part #2
3. ASCTrend system, the beginning, part #3
4. ASCTrend system, the beginning, part #4 
5. Digital ASCTrend (Digital Filters with ASCTrend system combined).
6. LabTrend (LabTrend indicators, LabTrendZigZag, templates, Labtrend EAs) - the thread 

After

• The main AscTrend thread is this one.
• Asctrend indicator in depth 
• ASCTREND SYSTEM summary (good EAs included)
• Brainwashing system/AscTrend system (MT5) - the thread

[Sergey Golubev]

Crypto News - Bitcoin price forecast in 2020 - from $55,931 to $2352 (based on the article)

• Bullish forecast - "Bitcoin price volatility is just “noise” which makes it hard to see the position the digital currency will be in, let’s say, years from now. To figure that out, my student Greg Giordano and I have been doing some econometric work lately. Greg ran two econometric models, the Haye’s model and the Wheatley models—see table 3. On the one side, the Haye’s model predicts a price of $55,931.60. That’s a very bullish forecast. For a good reason: it focuses on the supply side of the Bitcoin market, which is expected to grow at an ever-slower pace, as it gets closer to the limit."
• Bearish forecast - "On the other side, the Wheatley model predicts a price of $2352.03. That’s a very bearish forecast -- for a good reason, too. The model focuses on the Bitcoin use, that is, on the demand side of the Bitcoin market. And Bitcoin demand has been growing slowly, as evidenced by a recent Gallup survey."

[Sergey Golubev]

AUD/USD Intra-Day Fundamentals: RBA Cash Rate and range price movement 

2018-08-07 05:30 GMT | [AUD - Cash Rate]

• past data is 1.50%
• forecast data is 1.50%
• actual data is 1.50% according to the latest press release

if actual > forecast (or previous one) = good for currency (for AUD in our case)

[AUD - Cash Rate] = Interest rate charged on overnight loans between financial intermediaries.

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From official report :

• "At its meeting today, the Board decided to leave the cash rate unchanged at 1.50 per cent."
• "The low level of interest rates is continuing to support the Australian economy. Further progress in reducing unemployment and having inflation return to target is expected, although this progress is likely to be gradual. Taking account of the available information, the Board judged that holding the stance of monetary policy unchanged at this meeting would be consistent with sustainable growth in the economy and achieving the inflation target over time."

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AUD/USD M5: range price movement by RBA Cash Rate news event 

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Chart was made on MT5 with Brainwashing system/AscTrend system (MT5) from this thread (free to download) together with following indicator:

• MaksiGen_Range_Move MTF - indicator for MetaTrader 5

Same system for MT4:

1. Brainwashing. Trades: manually and using EAs (MT4)
2. Brainwashing EAs - the thread (MT4)
3. Brainwashing: system setup for trading manually and for EAs (MT4) - the thread 
4. Brainwashing: system development (MT4) - the thread

[Sergey Golubev]

Crypto News - Bitcoin:  daily ranging to the possible bearish reversal; 6,882 is the key (based on the article)

Daily price is located inside Ichimoku cloud in secondary ranging market condition: the price is testing support level at 6,882 to below for the daily bearish reversal to be started.

• "Wall Street is working on a new platform which will ease the trading, storing and spending digital assets. That’s bullish for bitcoin and other cryptocurrencies. It will help them gain acceptance among investors, merchants and consumers."
• "Last week, Intercontinental Exchange (ICE) announced plans to form a new company, Bakkt, with the purpose to create an open and regulated global ecosystem for digital assets. The new company is expected to work with a marquee group of organizations that includes BCG, Microsoft, Starbucks and others to come up with an integrated platform that will ease the trading, storing and spending of digital assets. That’s good news for bitcoin bulls, as an “epidemic” means higher bitcoin prices, especially since bitcoin is in limited supply, provided that big governments, big banks, and hackers do not spoil the party."

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The chart was made on D1 timeframe with Ichimoku market condition setup (MT5) from this post (free to download for indicators and template) as well as the following indicator from CodeBase:

• Price prediction by Nearest Neighbor found by a weighted correlation coefficient - indicator for MetaTrader 5
• MaksiGen_Range_Move MTF - indicator for MetaTrader 5

[Sergey Golubev]

Crypto News - Bitcoin: daily bearish to be resumed (based on the article)

Daily price was bounced from 8,272 resistance level to below for the bearish trend to be resumed and with 5,788 daily bearish target.

• "The number of Bitcoin ATM machines (BATM) installed across the world has crossed the 3,500 threshold, according to Coinatmradar.com.
  Bitcoin ATMs are installed in 73 countries in the world. Two thirds of them are concentrated in North America. Out of a total of 3,504 BATMs worldwide, 2163 are installed in the United States, and 613 in Canada. Los Angeles has the most number of BATMs in the United States, 253, followed by Chicago with 183 ATMs."
• "Genesis Coin and General Bytes make up over half of all installations. Markets seem to be seeking two-way alternative machines, allowing users to jump in and out of fiat and crypto, as those BATMs are growing in total market share, Bitcoin News reports."

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The chart was made on MT5 with standard indicators of Metatrader 5 together with the following custom indicator:

• MaksiGen_Range_Move MTF - indicator for MetaTrader 5