Buy Bitcoin Here/The Seven Day Scope: Snipers Only

“What matters most is how well you walk through the fire.” Charles Bukowski

May 03, 2024

I can be pretty persistent (annoying) when I want to learn something. When I was 12, I was attempting to understand how to be a good bike rider, I would bother the living shit out of people to gain knowledge from them. A rider named Jason Suchan was always nice enough to answer my questions even though sometimes it was at 2-3am. It is important to remember the things these people taught us and more importantly the person who was a professional and would take the time to talk to an annoying kid.

As I got older, I could still be persistent (still annoying) about learning things. Learning from floor traders was one of the most exciting things in my opinion. They traded commodities, currencies, equities and bonds. I wanted to understand how to trade every piece of the macro landscape. They had answers.

One thing they taught me was the idea of “hunting for stops”.

Source: Forex Trader

Trying to buy the bottom is a losing game. What you can do is buy something as it gets above a certain level. Above 60k for BTCUSD.

The short term trade is to buy it here or lower and target the old highs above 70k for a short term trade.

Trend traders-Our trailing stop loss is now at 56980 from our initial entry at 20598.

Position trading signal-No exit signal yet either.

Traders who were heavily short on the Japanese yen have faced a short term huge one day gain higher in the USDJPY (purple) rally. This could shake out some shorts so it can resume its downward spiral.

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Japan was seen as a global success story. Its remarkable postwar recovery and subsequent economic boom made it the world's second-largest economy by the 1980s, admired for the growth, efficiency, and discipline of its multinational corporations. The close alignment between the government and big businesses seemed like an unbeatable combination, leading to aggressive expansion and investments worldwide. Similar to current worries about China, there were concerns back then about Japan surpassing the United States as the leading global economic powerhouse. This is funny to think about today.

Loose monetary policies and excessive borrowing fueled a huge bubble in both the stock market and real estate sectors, which collapsed in 1990, plunging Japan into a long-lasting economic downturn. Despite three decades passing, Japan hasn't fully recovered, raising the question of why. The continuous bailouts of failing firms by the government have contributed to prolonging Japan's crisis.

Coming to a country near you…

We just talked about this situation 20 minutes ago-https://www.youtube.com/live/CWs_VP1vej0?si=0WPeoS9ofzEH0KKy

If you look around the globe you will see many areas are just starting to move. EEM emerging markets index is one of them.

Obviously we keep beating this one to death. China looks like a winner.

We are also starting to see solid inflows in to this market.

Stress is finally falling off of the equity market.

Something I talked about last week-I mentioned that I wanted to see a higher low and a gap out of it. Here we are today with a solid gap. I am still bullish here. I know I sound crazy but price rules. Opinions don’t.