chickensword wrote: Tue Jul 26, 2022 4:47 am we still got crypto
and us is actually dependant on gold not sure to what degree

neverthaless your right but russia is pfffff 1 us dollar equals 50 of theirs

china would be my only concern they plotting to take down everyone

It's not about exchange rates of local currencies. This is of minor importance. Because if you don't use the USD, the exchange rate can be anything. This is about the diminishing demand for USD and Petro Dollar in particular which creates a huge oversupply. Thus, what is the US going to do with that? Burn it?
China also cut US treasury bonds to the lowest in 12 years. Guess who is buying that stuff. Belgium! Why? They are the front office for the US Fed who is the actual buyer. They just print more money to buy debts. Go figure! They are not responsible for anything, thus they don't care except making things look not so bad as long as possible. Nations are sick of being threatened, sanctioned and told what they can do or not. Thus they choose their own strategy to combat that without the need of firing one bullet.

RplusT wrote: Tue Jul 26, 2022 11:51 am It's not about exchange rates of local currencies. This is of minor importance. Because if you don't use the USD, the exchange rate can be anything. This is about the diminishing demand for USD and Petro Dollar in particular which creates a huge oversupply. Thus, what is the US going to do with that? Burn it?
China also cut US treasury bonds to the lowest in 12 years. Guess who is buying that stuff. Belgium! Why? They are the front office for the US Fed who is the actual buyer. They just print more money to buy debts. Go figure! They are not responsible for anything, thus they don't care except making things look not so bad as long as possible. Nations are sick of being threatened, sanctioned and told what they can do or not. Thus they choose their own strategy to combat that without the need of firing one bullet.

chinas going into a recession too you should see there commodities , i think everyone is at this point eligible for collapse, there strict covid stuff messed them up good, but i dont know just speculation anything can happen, they are carry trading there own currency lel

Fibo Expansion works good with trend lines as profit targets. Takes sometime to learn to use them. Just a hint.

Meyney: i have no idea what you mean with this chart, can you be more specific

23 ticks chart

daily

ZZTop wrote: Tue Jul 26, 2022 7:43 pm

I see thanks. Yes it is a well known idea. We start drawing the zero at a reversal pattern like Head&Shoulders or in your case 2 top and the extensions ar targets (or even entries). Problem often is in hindsight it looks great and logical, but what to do when an extension is reached? enter a trade? What I experienced (traded) with this is; draw the fib's on a high timeframe, draw the zones, switch back to lower timeframes and wait for the sign to enter a trade (Impulse and retrace of course ). By the way, most use the classic extensions like 100, 161, 223, 261 and 423. Not sure about your 1,2,3,5,8 etc.

Meyney wrote: Wed Jul 27, 2022 1:03 am I see thanks. Yes it is a well known idea. We start drawing the zero at a reversal pattern like Head&Shoulders or in your case 2 top and the extensions ar targets (or even entries). Problem often is in hindsight it looks great and logical, but what to do when an extension is reached? enter a trade? What I experienced (traded) with this is; draw the fib's on a high timeframe, draw the zones, switch back to lower timeframes and wait for the sign to enter a trade (Impulse and retrace of course ). By the way, most use the classic extensions like 100, 161, 223, 261 and 423. Not sure about your 1,2,3,5,8 etc.

You do have a trendline break in back ground, then you start to look A-B-C.

And those numbers do work, they are Fibonacci numbers.
https://en.wikipedia.org/wiki/Fibonacci_number

And, yes, look higher tf and pullbacks/retracements in lower tf`s, also can use FE there too, and trend lines and so on.
Follow few months and you will see how accurate those levels are, every timeframe. I traded trendlines and FE few years long time ago, nothing else, simple stuff.

ZZTop wrote: Wed Jul 27, 2022 4:11 pm

yes it has a lot of similarities