Trading Week 30 in Review

Eur/Usd no valid sell signal=> no trade
Nzd/Usd no trade
Gbp/Nzd no trade
Usd/Cad 2x buy SL hit -74 pips, TP1 hit +74 pips, Total= 0 pips

DAX 2x buy SL hit -46 pips
sell TP3 hit +240 pips, max possible +365 pips, Total= +194 pips

Oil 2x sell SL hit -64 pips, TP2 hit +230 pips, max possible +237 pips. Total= +166 pips

Btc/Usd buy trade opened, +800 pips so far

Trading Week 30

Eur/Usd Sell 1.0822 Stop-loss 1.0858 Take Profit 1.0760, 1.0670, 1.0565
Nzd/Usd Sell 0.6497 SL 0.6533 TP 0.6420, 0.6350
Gbp/Nzd Buy 1.3985 SL 1.3946 TP 1.4200, 1.4250
Usd/Cad Buy 1.3011 SL 1.2974 TP 1.3085, 1.3130, 1.3170

 

DAX Buy 11766 SL 11743 TP 11870, 12000, 12100, 12200
Sell 11645 SL 11668 TP 11545, 11500, 11405

 

Oil      Sell 50.10 SL 50.42 TP 48.60, 47.80

 

Btc/Usd Sell 275 SL 284 TP 265, 255
Buy 284 SL 274 TP 294

What Do Currency Indexes Tell About Bitcoin Price?

It is always good to see a bigger picture in a speculation or in life generally. So I’ve opened a currency index charts and wanted to know how and if they correlate to Btc/usd pair. Here is what I’ve found out:

 

btcindexes

 

1, From cca a half of 2013 there seems to appear a clear anticorrelation between Btc/usd and Usd index (the black line) or putting it other way Bitcoin hates the US dollar. That’s hardly any new information as it’s expected, though until 2013 both moved in a similar way.

 

The main reason why the split had happened in my view is that Bitcoin started to behave as a „standard“ financial instrument as more and more speculators/investors rushed into trading and using traditional „risk on vs. risk off“ aproach. So what that all means? Because both hate each other they keep selves at some distance, when they are too far it means approaching move is going to happen sooner or later with high probability.

 

On the other hand when they are both too close to each other you can expect an explosive move either as a bounce off or a cross over. Both currencies now stand in a quite far distance so clearly Bitcoin’s rise and the dollar’s fall is in the cards and it’s just a question of time.

 

2, The closest correlation appears to be unsurprisingly between Bitcoin and commodity currencies, especially the Australian and Canadian dollar (the brown and green line). There is a fair distance right now between them so will Bitcoin fall or Aud/Cad rise? The Aussie and the Loonie do not look like they are hitting a bottom right in the moment.

 

3, And the final observation: Look at that pink line, it is the Japanese yen. It seems every time Bitcoin is falling down in a free fall yen serves as a support barrier.

 

Just my 0.5 cent, do not make any exorbitant conclusions out of it. These are only some charts and statistics of the past.

Trading Week 29

Nzd/jpy buy 82.81 Stop-loss 82.45 Profit Take 84.45; 85.50
Eur/aud buy 1.5080 SL 1.5044 PT 1.5275
Gbp/jpy buy 190.83 SL 190.47 PT 191.55; 193.33

 

DAX:   buy 11405 SL 11374 PT 11505; 11630
sell 11143 SL 11175 PT 11070; 11000; 10860

 

Oil:   sell 51.93 SL 52.29 PT 50.65; 50.00; 48.00
buy 54.10 SL 53.78 PT 55.20

 

Btc/usd:  buy 316.50 SL 291.50 PT 330; 380; 400;
sell 291.50 SL 304 PT 285; 280; 276;