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Investment Recommendations May 22nd

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GOLD: Long-Term Buy (Update)

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Gold Futures, 4-Hour Chart Analysis

Gold is trading in a short-term consolidation pattern after hitting the $1260 last week. The precious metal held up well amid the rebound in risk assets, as the political fears regarding Trump’s position continue to fuel demand for safe-have assets.

The metal faces multiple resistance levels, at $1260, at $1275, and near $1285 before a re-test of $1300 zone. The short-term rising trend is intact, with strong support at $1240. Short-term traders might consider raising the stop level to $1225, but our recommendation remains the $1206 level.

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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 99 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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  1. ajburge

    May 22, 2017 at 5:56 pm

    Hi,

    Would you suggest adding physical gold as a long-term diversified investment? Or just buy on trading sites?

    Thanks,

    Adam

    • Mate Cser

      May 22, 2017 at 9:25 pm

      Hi,

      Great question! Physical is always the safer option, especially in a full fledged meltdown.Paper gold might trade on a discount in such times,and counterparty risk could be a real threat. It’s a good idea to keep at least a part of your holdings in physical, with keeping the issue of liquidity in mind. Up to 10% of your savings could be great as an insurance policy.

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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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Trade Recommendation: PotCoin

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The PotCoin/Bitcoin (POT/BTC) market exhausted its bullishness on July 25, 2017 when it created a lower high of 0.000037. The market unravelled on July 27 when it broke support of 0.0000385. Since then, it created a series of lower highs and lower lows until it bottomed out at 0.00001027 on November 2.

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The market rallied after finding its bottom, and went as high as 0.00003999 on December 1. At this point, however, the pair was in overbought territory, and that forced bottom pickers to dump their positions. Faced with heavy selling pressure, the market went as low as 0.00001594 on December 7. Sensing a lower high was in place, bulls rushed in, and bought positions which pushed the market up to 0.00003849 on December 31. Unfortunately for buyers at this level, bears defended the resistance level, and sent the market down to 0.000016 support.  

Technical analysis show that the PotCoin/Bitcoin pair is currently consolidating while locked in a wide range between 0.000016 and 0.0000385. As of this writing, the market is well on its way to 0.000016 support. We can use the existing range to generate profitable trades.

The strategy is to buy the support and sell the resistance. Buy as close to 0.000016 support as possible. Sell as close to 0.0000385 as possible. Once bulls successfully defend 0.000016, the market will most likely restart its climb to the resistance level of 0.0000385. The process may take about a month.

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Daily Chart of PotCoin/Bitcoin on Poloniex

As of this writing, the PotCoin/Bitcoin pair is trading at 0.00001646 on Poloniex.

 

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: BitcoinPlus

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The BitcoinPlus/Bitcoin (XBC/BTC) market lost all bullishness on July 3, 2017 when it generated a lower high of 0.06965. Things went from bad to worse when the pair broke support of 0.05 on July 7. From that point on, it created a series of lower highs and lower lows until it established a bottom at 0.00395018 on November 5.

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Having lost over 94% of its value, the market quickly rallied as soon as it bottomed out. It went as high as 0.01993227 on November 12. The pair flashed overbought readings at this level, and that signalled bottom pickers to take profits. As selling commenced, the market went as low as 0.004113 on December 8. With a lower high in place, the market bounced and reached 0.01255 on January 12, 2018. The more than 200% growth in about a month inspired profit taking which forced the market to pull back.

Technical analysis show that the BitcoinPlus/Bitcoin pair is creating a bullish reversal pattern that is near its breakout point. The two consecutive higher lows are bullish in nature. This suggests that participants are willing to buy positions at a higher price point when the market dips. In addition, Bollinger bands are contracting. This means that bid and ask prices are about to meet with a bullish bias. The contraction may inspire a massive rally.  

The strategy is to buy as close to 0.0072 as possible. When the market breaks above 0.008, it will likely explode to our target of 0.02. The process may take about a month.

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Daily Chart of BitcoinPlus/Bitcoin on Poloniex

As of this writing, the BitcoinPlus/Bitcoin pair is trading at 0.00743219 on Poloniex.

 

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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