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Investment Recommendations April 4th

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S&P 500: Short-Term Sell

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S&P 500 Futures, 4-Hour Chart Analysis

The index rolled over yesterday as the MACD suggested, and now the momentum indicator is clearly bearish on the 4-hour chart. The 2332 level and the 2319 support are obvious targets for this wave, and the test of the longer-term 2308 support level is also possible in the coming days.

Long-term short positions might also be considered here, with the recent swing-high around 2368 providing a good stop-loss opportunity. In a bullish scenario, a recovery above the 2351-2355 zone could set-up a test of the all-time highs near the 2400 level. Bulls should consider placing the stop-loss order around 2330.

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Gold: Short-Term Buy (Update)

Gold, 4-Hour Chart Analysis

Gold continues to act strong above the short-term support level near $1240, and it reached are trading target at $1260 once again this morning. The precious metal is facing key resistance in this area, but a significant breakout is still in the cards, and a push towards 1300 is possible.

Traders who want to hold their long positions (or at least a part of it) in anticipation of further upside are advised to push their stop-loss level higher, as a potential failed break-out could lead to a sharp correction in gold. The $1244 level seems to be a good choice for a stop, but a broader stop around the $1238-$1240 zone also makes sense.

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Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.7 stars on average, based on 101 rated postsTrader and financial analyst, with 10 years of experience in the field. An expert in technical analysis and risk management, but also an avid practitioner of value investment and passive strategies, with a passion towards anything that is connected to the market.




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Trade Recommendation: Simple Token

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The Simple Token/Bitcoin (OST/BTC) market exhausted its bullishness on January 11, 2018 when it failed to close above 0.00009 resistance. While the pair attempted to breach that resistance level on January 12 and 13, bears kept them at bay. Finally on January 14, the market broke below 0.000064 support, and that sealed the downtrend.

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Although the OST/BTC pair bounced and went as high as 0.0000695 on January 20, bears have extended their territory to 0.000064. As the rally was met with selling pressure, it gradually declined until it went as low as 0.00002692 on February 6. This dip is your opportunity to enter near a firm support level.  

Technical analysis show that the Simple Token/Bitcoin pair is respecting critical support at 0.000027. When the market touched this level on February 6, bulls came to defend it, and sent it as high as 0.00004990 with heavy volume. The market has retreated since, but volume has been thin for the last six trading days. This indicates that sellers are losing interest to dump positions at this level.

The strategy is to buy as close to 0.000025 as possible. Once bulls successfully retests this support level, the market will likely hit our target of 0.000064. The process may take about a month.

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Daily Chart of Simple Token/Bitcoin on Binance

As of this writing, the Simple Token/Bitcoin pair is trading at 0.00002707 on Binance.

 

Disclaimer: The writer owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.2 stars on average, based on 59 rated postsKiril is a financial professional with 4+ years of experience in financial writing, analysis and product ownership. He has passed all three CFA exams on first attempt and has a bachelor's degree with a specialty in finance. Kiril’s current focus is on cryptocurrencies and ETFs, as he does his own crypto research and is the subject matter expert at ETFdb.com. He also has his personal website, InvestorAcademy.org where he teaches people about the basics of investing. His ultimate goal is to help people with limited knowledge of finance and investments to create investment portfolios easily, and in line with their unique circumstances.




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Trade Recommendation: Bitcoin Gold

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The Bitcoin Gold/Bitcoin (BTG/BTC) market lost its bullish momentum on November 21, 2017 when it generated a lower high of 0.065. As market participants noticed that the pair has ran out of steam, a selling frenzy was triggered. On December 5, the pair broke below support of 0.025.

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The BTG/BTC pair nosedived as selling pressure increased. However, the market needed only three days after going below 0.025 to bottom out at 0.011551 on December 8. Having lost over 82% of its value in about two weeks, the market quickly rallied. Bottom pickers pushed the price to as high as 0.029 on December 20. The rapid increase inspired a round of profit taking, which forced the market down to support of 0.0115.

Technical analysis show that the Bitcoin Gold/Bitcoin pair is consolidating while trading between the range of 0.0115 – 0.025. During this period, participants accumulated positions at an optimal price point, which is usually at the bottom of the downtrend. The ones who buy the bottom are likely the same people selling the top. As the range has been determined, you can join these participants to generate profitable trades.

The strategy is to buy as close to 0.0115 as possible and sell as close to 0.025 resistance. This process may take less than a month. You can deploy the same play again and again until the market takes out 0.025 resistance.

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Daily Chart of Bitcoin Gold/Bitcoin on Binance

As of this writing, the Bitcoin Gold/Bitcoin pair is trading at 0.01183 on Binance.

 

 

Disclaimer: The writer owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.2 stars on average, based on 59 rated postsKiril is a financial professional with 4+ years of experience in financial writing, analysis and product ownership. He has passed all three CFA exams on first attempt and has a bachelor's degree with a specialty in finance. Kiril’s current focus is on cryptocurrencies and ETFs, as he does his own crypto research and is the subject matter expert at ETFdb.com. He also has his personal website, InvestorAcademy.org where he teaches people about the basics of investing. His ultimate goal is to help people with limited knowledge of finance and investments to create investment portfolios easily, and in line with their unique circumstances.




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Trade Recommendation: EURAUD

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The bias has turned to the downside for the short term with the price trading below the Daily Pivot Range (blue dots), as well as the 3 Day Rolling Pivot Range (RPR, green dots). These levels provide the near term key resistance range.

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With the Daily Pivot Moving Averages (red,yellow, white lines) turning downward this is further confirmation of the bearish bias. We need to see further confirmation with the price trading below the current swing low of 1.56518.

The action to take is to place a sell stop entry order to enter the market short as the price breaks below the recent low. Place the stop loss just above the swing high level at the Daily Pivot Range low.

Note: If triggered, look for the trade to play out over a period of 24-36 hours and if no significant move after 3 hours, exit the trade.

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Entry Price: 1.5651
Stop Loss: 1.5697
Profit Targets: Grab some quick profits at the First profit target 1.5610. Second profit target is 1.5556. Once first profit target is reached, bring stop loss to breakeven, then trail a stop loss on remaining position 15-20 pips behind to safeguard profits or until second profit target is hit.

 

Disclaimer: Disclaimer: The writer has no positions in the forex markets but does engage in short-term trading of forex and futures.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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3.9 stars on average, based on 18 rated postsI am the founder of VirtuesTrading.com, where traders can learn to use my Virtues Trading System. Formerly a Commodity Trading Advisor, I got my start in the Energy and Precious Metals Options & Futures pits of the New York Mercantile Exchange. I operate on the premise of efficient markets, the management of risk through the analyzation of price action and technical indicators. I have a BA in International Relations from the University of Southern California.




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