(03/02/22) Bidirectional Markets & Trading

Some markets will support trading in both directions; indices, the Euro starts rallies off lows; Bitcoin, gold, and Crude Oil come off high pricing, writes Trevor Smith of Trevor's Trading.

The Euro and Indices have bullish candlestick patterns on daily charts. In contrast Bitcoin (BTC), Crude Oil (CL=F), and Gold (GC=F) are at the tops of their Bollinger Bands and are poised to come down, but I cannot guarantee it nor determine price move depths. For Gold, the inverted hammer bear-candle’s $60 tail when subtracted from the body of the candlestick yields an $1880 low target as one technique to project a price move. A counterargument bullish on Bitcoin exists due to a bullish candlestick on the 80-week moving average.

My ridiculous guess about the war is, next, I contend that a quiet phase/lull occurs near here, one or more leaders may exit the public scene to reset themselves to return later for problem-solving that may reduce forthcoming chaos in portions of both countries. Of course, many potential realities exist—one involves changing from twentieth century tanks/boats to super-advanced technological means, possibly aerospace; this is similar to temporarily changing the problem-solvers themselves in order to have fresh viewpoints on problems. These are merely anticipatory ideas, because anticipating markets is the skill.

Disclosure: My $35.00 binary ES 4313-strike optiont in the Nadex Exchange (NQ=F) tripled my money with the underlying’s weekly closure well above the strike price. My numbers aren’t perfect, but I traded them.

My last article, Rally May Elicit Selling (moneyshow.com), described market pricing and mentioned, ”non-terrestrial event dates for potential bearish sentiment are February 22, 24, 25”; February 24 was the swing low and the Ukraine’s conflict escalation date, thereby fulfilling my prediction for a geopolitical conflict in an icy place that I began writing about in 2020 and reiterated here last April: Currencies Plan a Tradeable Countertrend Rally (moneyshow.com). As of March first, 2022. Eight of ten projected ranges printed with Gold being $1 off at $1,884/oz. versus my projected $1,883; my hope is that traders find my hand-calculated ranges useful as a general reference/guide in weeks such as the closing one wherein symbol prices could literally have traded anywhere.

Next Two Weeks’ Predicted Ranges (Written March 1, 2022)

E-mini S&P 500 (ES=F)

High Range 4472-4450; Low Range 4275-4251

Bullish range. Space weather and non-terrestrial event dates that include solar wind streams of particles that may coincide with bearish sentiment are March 2,4,5,6, & 15.

Bitcoin

High Range 46800-44600; Low Range 40201-36977

Neutral-bullish ranges.

Euro FX

High Range 1.133-1.127; Low Range 1.112-1.110

Neutral-bullish ranges; 1.164 yearly pivot pulls from overhead.

Gold

High Range $1943-$1931; Low Range $1890-1862

Neutral-bearish ranges. Breakout setup.

Crude Oil

High Range $109.97-109.40; Low Range $102.30-98.25

Neutral-bearish ranges. Yearly pivot: $40.19; $84 February Monthly Pivot. $54-$46 Fibonacci 50% level is possible-eventually.