Alright traders, let's look at the charts because my screen is an absolute mess this morning and I am way too caffeinated. Was reviewing some setups while sipping my second cold brew about twenty mins ago, and honestly, the market structure across multiple asset classes is getting genuinely wild. We need to talk about what is happening on these timeframes right now before fomo completely kicks in and everyone gets rekt chasing green candles.
First off, let's address the elephant in the room regarding the THORChain RUNE price action. In case you missed it amid all the chaos, RUNE just pulled this massive 13 percent jump following that insane Binance record 6.3 billion hack news. It is wild how the market reacts to these headline shocks, but structurally speaking, look at the order book depth and the cross-chain volume surging. North Korean hackers have historically used THORChain to move funds stolen from places like Bybit and Bitget, which always sparks massive debate about protocol intervention and decentralization pressure, but purely from a chart perspective, that liquidity influx sent the momentum indicators straight vertical. If you were DCAing down near the lows like I was during the summer chop, you are finally seeing some breathing room, but do not chase blindly up here without waiting for a proper retest of the breakout level.
Speaking of macro volatility, look at what happened with Gold XAUUSD recently. Back on October 21, 2026, those Elliott Wave forecasts absolutely nailed the downside move when price was floating around 4125. The bearish scenario played out to absolute perfection as Gold slid all the way down toward the 3980 region before finally finding some buyers and staging a corrective recovery. Capturing over 1460 points lower is no joke if you were positioned correctly on that wave count. It just goes to show why respecting larger degree impulsive structures saves your account from getting liquidated when the macro tide shifts.
Meanwhile, if we pivot over to forex land, the EURGBP chart is giving me massive continuation vibes. That pair just cleanly broke through the support zone sitting right between 0.8360, which originally stopped wave 3 earlier this month, and that critical support trendline of the daily down channel stretching all the way back from June. Once that daily support gave way, selling pressure accelerated instantly. We are looking at a very clean path of least resistance likely dragging price all the way down to the 0.8300 major psychological level. I already scaled into a short position on the retest of the broken baseline, using a tight stop just above the channel boundary because if this thing fakeouts, I want out fast.
Are you guys playing the RUNE momentum wave here or staying far away from cross-chain tokens right now? Let me know your levels below.
First off, let's address the elephant in the room regarding the THORChain RUNE price action. In case you missed it amid all the chaos, RUNE just pulled this massive 13 percent jump following that insane Binance record 6.3 billion hack news. It is wild how the market reacts to these headline shocks, but structurally speaking, look at the order book depth and the cross-chain volume surging. North Korean hackers have historically used THORChain to move funds stolen from places like Bybit and Bitget, which always sparks massive debate about protocol intervention and decentralization pressure, but purely from a chart perspective, that liquidity influx sent the momentum indicators straight vertical. If you were DCAing down near the lows like I was during the summer chop, you are finally seeing some breathing room, but do not chase blindly up here without waiting for a proper retest of the breakout level.
Speaking of macro volatility, look at what happened with Gold XAUUSD recently. Back on October 21, 2026, those Elliott Wave forecasts absolutely nailed the downside move when price was floating around 4125. The bearish scenario played out to absolute perfection as Gold slid all the way down toward the 3980 region before finally finding some buyers and staging a corrective recovery. Capturing over 1460 points lower is no joke if you were positioned correctly on that wave count. It just goes to show why respecting larger degree impulsive structures saves your account from getting liquidated when the macro tide shifts.
Meanwhile, if we pivot over to forex land, the EURGBP chart is giving me massive continuation vibes. That pair just cleanly broke through the support zone sitting right between 0.8360, which originally stopped wave 3 earlier this month, and that critical support trendline of the daily down channel stretching all the way back from June. Once that daily support gave way, selling pressure accelerated instantly. We are looking at a very clean path of least resistance likely dragging price all the way down to the 0.8300 major psychological level. I already scaled into a short position on the retest of the broken baseline, using a tight stop just above the channel boundary because if this thing fakeouts, I want out fast.
Are you guys playing the RUNE momentum wave here or staying far away from cross-chain tokens right now? Let me know your levels below.
