ETH followed!

Time to cash in profits

Powell coming up in a few min
https://www.youtube.com/watch?v=Eig-NOwTpbo

Powell speech recap

As planned, Federal Reserve Chairman J Powell announced changes to the Fed's monetary policy in his speech at Jackson Hole today. The first 20 minutes were mostly small talk and history lessons so I won't go into that.

A few minutes before 9:30 NYC Powell stated that the Fed recognizes the value in "average inflation target" and will adopt that as monetary approach for the foreseeable future with a target set at 2%. The market anticipated this approach of "relaxed inflation" and the 2% target so it was priced in for the short term.

The first important note is that Powell did not set any boundaries for how high or low inflation can go before the FOMC wants to take actions. The new policy is deliberately vague and unformalized which means inflation can rise above or below 2% for a period of time without the immediate need for them to take actions. This allows for a more healthy development in the economy and impact of employment rates. They will be able to keep economic stimulus in place for longer periods of time because the deviation from the average target can be compensated at a later stage.

Additionally Powell mentioned a shift in how employment rates are assessed with a (quote) more "broad-based and inclusive goal". This means the FOMC will look more at the low-income labour force instead of only at the aggregate unemployment rate.

What to expect from here? The unemployment rates are still elevated due to the pandemic and keep inflation rates pinned down. This pushes CBs to continue accommodative monetary policies and the average inflation target means they will be more free to do so.


- Personal interpretation and impact on the market
As stated this is what the market expected, nothing more and nothing less. When expectations are met but the hype is high there often follows a short term sell-off. The fake-out during the speech was a classic retail trap event to lure in some unknowing breakout traders thinking something special happened when it didn't.

On the longer term this allows the Fed (and other CBs will likely follow) to implement accommodative policies more easily because there is no longer a strict bound. They just want to meet the average target on the longer term and won't directly interfere with the market on each fluctuation. Overall a healthier policy for the markets and still bullish Gold and equities for the longer run.

Do note that this relaxed inflation works both ways. In case of another liquidity crisis and Dollar run the Fed may be more reluctant to jump in and will let it run its course for a bit, leading to potentially violent swings.

Setups coming in a few minutes. Pin the channel to the top and unmute it to get instant updates

https://www.tradingview.com/x/WV3bL9gR/

BTCUSDT

The simple EMA strategy discussed eariker on this channel played the magic. No fancy TA, simple short above 21 ema and short below.

A rather ambitious short with a very high RR opened yesterday following the pump from Powell's speech. This might take a few days but worth holding on.

You're welcome mashers!

https://www.tradingview.com/x/f8GKLK3t/

EOSUSDT

Everything is right in front of you. Assuming you picked up all of the last 7 trades, with just spot positions, the biggest win a +31.33% and the biggest loss? -5.29%.
6/7 managed to grab profits.

Summing it up,
Total PnL in 7 trades : 59.51% ( check the math yourself)

That's PXI for you.

hashedplutus.com is where you need to go. Now!

https://www.tradingview.com/x/nvxTwsWz/

BTCUSDT

Playing between the lines. The 4h plotted out a nice long on PXI and the close above 21 EMA confirmed the move. Small scalp to play for interest traders. Now the price is peaking around so I have set limits over the mentioned levels.

https://www.tradingview.com/x/DWkV9QyK/

$BATUSD
PXI users are already in the long position and also managed to pick up the massive short last week. BAT in general looks bullish here. Testing the 0.382 level and breaking above the 0.5 can send this all the way up. Bear in mind it's a higher TF here do it can take a few days to achieve all targets.

KuCoin halts Algorand ALGO wallets

Nothing major nor important, but better to know than freeze your funds

https://www.tradingview.com/x/FOFOERbV/

Moving according to the plan. I'm tightening stops on this and taking half profit here.

https://www.tradingview.com/x/2xAsxGsf/

Peaked at 10%. Now PXI is about to close here in a nice profit.
Great pickup!

$ZIL

We have seen some nice volatility from Ziliqa here. The price is moving in a down trend channel with a huge volatility and huge bearish pressure. We might see further push toward the white region which for me is a strong area of support. At this level, if we see any sign of bounces, there will be a potential upside rally to test prior swing high.

$ALGO

I'm seeing this type of structure when I use the body to body connecting method. The bullish falling wedge could be the A wave structure during this correction moves. If the price can breaks out of the upper line of this bullish falling wedge , we might see an upside moves to the golden pocket region. Strong area of support as the wick fishing is at the white region.

$LEND

Lend here is entering its consolidation pattern with the representation of the descending triangle is in play. The price however is trending inside this descending triangle . If we see a break out toward the upside, there will be an upside moves toward the interim swing high. But, breaks below this descending triangle , a further downside push toward the $0.51 range.

Let's make on thing clear. If you want hourly updates, this isn't the best channel for you. I might go on over 30 hours without a post because I don't see a good move in sight. If you can't handle that I'll be happy to show you the door. Only my most loyal followers know that it's better to stay out of choppy waters than drown

Another Bitcoiner Claims He Lost $430,000 in Electrum Wallet Scam. A year-old exploit in outdated Electrum wallets keeps claiming unsuspecting victims, taking their Bitcoin.

Things get exciting when people get greedy

Looks like we got it right again.💪🏻

I have noticed a trend in funding rates and price movement of assets. BAL currently has a great negative and is worth longing. Take a shot at it.

Entry below $32

Target $40+