Good morning Steemit, good morning traders! Yesterday was quite a day news-wise, lets recap some of the events.
- UK CPI August 0.6% vs 0.5% expected sees the pound rip
- continuing from previous bullet point, pound has a wobble when rumors appear next round of Brexit talks postponed. Jusr a wobble. Denied quickly and pound continues it's advance.
- SPX all time highs again! Anyway, all indices have ripped properly
- North Korea warns U.S. of 'greatest pain', rejects sanctions :D :D :D
- Bloomberg reports of North-Korea hoarding cryptos, now there is incentive for governemts to crack down and start regulating. Link here: https://www.bloomberg.com/news/articles/2017-09-11/north-korea-hackers-step-up-bitcoin-attacks-amid-rising-tensions
- JPMorgan CEO Jamie Dimon says bitcoin "is a fraud" that will eventually blow up. Link here https://www.cnbc.com/2017/09/12/jpmorgan-ceo-jamie-dimon-raises-flag-on-trading-revenue-sees-20-percent-fall-for-the-third-quarter.html
Looking at the charts:
BTCUSD daily. I've been wary of chasing Bitcoin higher for a while because of that clear-top divergence on the RSI. Nevertheless, weak supports are a dime-a-dozen down here, so if the sellers are weak, the bulls have an easy job working on those supports. Monthly chart needs some red for Bitcoin advances to continue and this is very healthy. My bias is still lateral for a while, with spikes here & there.
STEEMBTC daily. This is just a hypo, not a trade idea. But maybe we can get a Wyckoff-style spring and rip? Example of the Wyckoff schematic below.
SPX new all time highs again! Maybe we can grind to 2517/20 or so?
GBPUSD on it's way to the daily TL
DAX is a little weaker than SPX but after breaking out of that flag it's clearly bullish. The rip has been extraordinary, don't chase, better enter on pullbacks. Doesn't matter if you miss a trade, theres always a trade somewhere.
This is it with charts today. Some day the charts are clearer than the other days. Today is the day i will be mostly watching unless intraday setups present. The market will be here tomorrow.
Thank you for reading, trade safe everyone!
Title image from pixabay
Are you looking for Minnowbooster, Buildteam or Steemvoter support? Or are you looking to grow on Steemit or just chat? Check out Minnowbooster Discord Chat via the link below.