The rand is the official currency of South Africa. It is subdivided into 100 cents.
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- 2021 roadmap for BitcoinThe week that lies ahead though is usually the 'Santa rally' week, so perhaps our caution and maybe even slight bearishness might again be off the mark. Nonetheless there are some good trading setups out there. Furthermore, we thought that this week we would share our 2021 roadmap for Bitcoin. Next year, we think, is going to be wild!
- The mighty Dollar fights backFresh new stimulus cheques in mail and record high options trading volumes. The market is a very confusing place right now to be honest. Well, maybe not actually. It's fairly obvious that stimulus money is finding its way to extremely speculative trading instruments (which includes Bitcoin) and that the greed ruling markets at the moment is firmly cemented in place. Even with all this additional money in the system diluting its value, the mighty Dollar is fighting back and strengthening.
- Technical trade ideasThis week I am keeping things a little less 'opinion' and focusing just on technical trade ideas. Well, trying to keep opinion out of it at least and just following what the chart says. So let's get into it.
- The trend is strong with this oneThe U.S. market is closed on Monday for Presidents' Day, which means that our market will likely be rather quiet at the start of the week. Overall though, the bullish trend is strong and has been for some time. I rang some alarm bells last week, although it seems that I was wrong. This doesn't mean that we should all rush out and put on a thousand new long positions. Patience, caution, always.
- A dose of patience neededThe fast paced world out there always tries to get us to take action immediately. There is a sense of urgency that is ever pressing. You have to buy this useless trinked right now! You have to act now to make money on the stock market! Cryptocurrencies are exploding and you must act immediately lest you want to 'enjoy staying poor'. This is all garbage. The reality is that there is a lot of patience needed if you want to make any sustainable, long-term progress. The same is true with trading. The patience needed to wait for the right trades, at the right levels is something that almost never talked about. So although there are a few decent setups this week, there are a few markets on which we have to respect the patience needed and wait for a more clear setup.