the daily degen 🦍(31oct23)
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⛹🏼♂️stocks rebound to start week, dow rallies 500 points for best day since june.
🚿starknet foundation showers STRK tokens on contributors, though they're not trading yet.
🏃🏼CME on the cusp of replacing binance as top bitcoin futures exchange.
🏦united states-based cryptocurrency exchange kraken will share data of 42,000 users with IRS.
🐋bitcoin whales take charge as number of $100K transactions surge.
crypto fear and greed index
trooperGlossary: fibonacci retracements 📚
fibonacci retracement is a popular technical analysis tool utilized by traders to identify potential levels of support and resistance in the price movements of financial assets.
this method is grounded in the fibonacci sequence, a series of numbers where each subsequent number is the sum of the two preceding ones. when applied to trading, certain ratios from this sequence, primarily 23.6%, 38.2%, 50%, 61.8%, and 78.6%, are used to create horizontal lines plotted on a price chart. these lines represent potential areas where price reversals or pauses in movement may occur, offering traders insights into entry and exit points. traders often integrate fibonacci retracement with other technical indicators and chart patterns to increase the probability of accurate predictions and maximize potential gains.
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liquidity is king 🙏🏼…
failure to prepare is preparing to fail 🧑🏼💻…
quite the claim 🤨…
trade ideas
trade: short AUD/ USD
the australian dollar has continued to oscillate within a range of approximately ~0.629 to 0.638.
notably, it has unsuccessfully attempted to surpass the upper resistance on three occasions in the past fortnight. given this pattern & that price is back at resistance, traders could consider initiating a SHORT position targeting the lower end of the range.
however, it's crucial to remain vigilant. should the price successfully breach and sustain above the resistance level, there's potential for a significant breakout. to mitigate potential losses you may want to implement a tight stop-loss around ~ 0.640.
#NFA #DYOR
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