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Trade Recommendation: AirSwap

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The AirSwap/Bitcoin pair (AST/BTC) ignited its bull run on January 3, 2018 when it took out resistance 0.00004. It attracted breakout players who pushed the price to as high as 0.00014765 on January 10. In one week, the market grew by almost 270%. Those who bought the breakout took profits.

As the market succumbed to heavy selling pressure, AST/BTC plunged to 0.00006118 on January 16. Bottom pickers bought the dip, but they were only able to inspire a rally that’s good for a lower high of 0.00013514 on January 27. Since then, the market has been creating lower highs and lower lows until recent price action.

Technical analysis reveal that AirSwap/Bitcoin may have bottomed out at around 0.000025 support on March 11. Volume suddenly surged on March 13 and March 14, which lifted the price to 0.000049 on March 14. Even though the market dipped to 0.0000265 on March 18, the pair once again rallied, indicating a higher low is in place.   

The strategy is to buy as close to 0.000032 as possible. If AST/BTC manages to stay above this level, it will likely gather momentum to take out 0.00004 resistance, and reach our target of 0.000053. The process may take less than a month.

Daily Chart of AirSwap/Bitcoin on Binance

As of this writing, the AirSwap/Bitcoin pair is trading at 0.00003482 on Binance.

Summary of Strategy

Buy: As close to 0.000032 as possible.

Target: 0.000053

Stop:  0.00003

 

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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3.7 stars on average, based on 182 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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  1. hdmarketing

    April 16, 2018 at 1:57 am

    Target reached today!

    • Kiril Nikolaev

      April 16, 2018 at 2:27 am

      Tell that to the people who rated my article 2 stars 🙂

      • hdmarketing

        April 16, 2018 at 2:59 am

        LOL! I just rated in return. 5 stars of course.
        I’m a newbie in crypto and I sold 30% at target, that pays more than my subscription for one month 😉

        Any advice as which targets to fix for the remaining AST ?

        • Kiril Nikolaev

          April 16, 2018 at 3:44 am

          Unfortunately I don’t have another target for AST at this time. To be honest, I like to hodl all my cryptos. The best thing I can tell you is find cryptocurrencies you really like and study them. Once you find a few good ones, like bitcoin, ethereum and monero hold them for the long term. Short term trade with only a small portion of your portfolio and do research. These trade recommendations need to be looked at as just one piece of the puzzle in your overall crypto analysis.

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Trade Recommendation: USD/MXN

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The US Dollar/Mexican Peso pair (USD/MXN) began its uptrend in December 2014 when it took out resistance of 14. This triggered the cup and handle pattern on the monthly chart. The price action attracted breakout players who helped push the pair to as high as 22.04012 in January 2017. In about two years, the US Dollar grew by over 57% against the Mexican Dollar.

At this price level, the pair was in extreme overbought territory. Those who bought the breakout used it as an opportunity to take profits. As USD/MXN succumbed to selling pressure, it dropped to as low as 17.45165 in July 2017. The pair has been flashing bullish signals since. This could be your chance to buy the breakout.

Technical analysis reveal that USD/MXN has taken out resistance of 19.88. This activated the large cup and handle reversal pattern on the daily chart. The breakout was affirmed by a rally to 20.96038 on June 15, 2018. However, the pair has been pulling back since. This is an opportunity to buy the confirmation of the breakout.

The strategy is to buy as close to 19.88 as possible. If bulls hold on to the support, they will confirm the breakout and may attract the momentum needed to move to our target of 22.04.

The process may take three months.

Daily  Chart of US Dollar/Mexican Peso on OANDA


As of this writing, the US Dollar/Mexican Peso pair (USD/MXN) is trading at 20.017 on OANDA.

Summary of Strategy

Buy: As close to 19.88 as possible.

Target: 22.04

Stop: Close below 19.50.

 

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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3.7 stars on average, based on 182 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: Cardano/Ethereum

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The Cardano/Ethereum (ADA/ETH) pair appeared to have broken out of an inverse head and shoulders reversal pattern on April 28, 2018 when it went above resistance of 0.0005. Unfortunately for breakout players, the market was not yet ready to launch a bull run. Those who bought the bottom used the breakout as an opportunity to take heavy profits.

In addition, a bearish divergence was spotted on the daily RSI. This was a sign of underlying weakness. As a result, ADA/ETH broke 0.0005 support on May 3. The price action trapped those who bought the breakout. This sparked a selling frenzy that saw the pair generate 20 red candles in 25 days.

While the ADA/ETH looks bearish right now, it appears that the bottom is in sight.

Technical analysis show that ADA/ETH is well on its way down to support of 0.00027. We believe bulls will be able to defend it for several reasons.

First, the market is in extreme oversold territory so we can expect a selling relief soon. Also, 0.00027 is the pair’s strongest support level. Bulls are bound to preserve it to keep the market stable. Lastly, the 4-day, 8-day, and 21-day moving averages are detached from the daily candle’s body. This indicates that the move down is not sustainable.

The strategy is to buy as close to 0.00027 as possible. If bulls hold on to the support, the market will most likely bounce to our target of 0.00035. We’ll revisit the trade once the target is hit.

The process may take a month.

Daily Chart of ADA/ETH on Binance

As of this writing, the Cardano/Ethereum pair is trading at 0.00028619 on Binance.

Summary of Strategy

Buy: As close to 0.00027 as possible.

Target: 0.00035

Stop: 0.00026

 

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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3.7 stars on average, based on 182 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: Short SGD/JPY

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The Singapore Dollar/Japanese Yen Pair began to look bearish in December 2015 when it generated a lower high of 88.372. Things went from bad to worse when the pair broke support of 82.70 in February 2016. This triggered the large head and shoulders reversal pattern on the weekly chart.

The breakout ignited a selling frenzy that saw the pair drop to as low as 72.371 in June 2016. In about seven months, the Singapore Dollar lost over 18% of its value against the Japanese Yen.

At this price level, the target of the head and shoulders pattern was already achieved. SGD/JPY then went into base-building mode until November 2016 when volume and price surged. This ignited a rally that pushed the pair above 82.70 resistance in September 2017. However, it appears that the pair is not yet ready to start a bull run.

Technical analysis reveal that SGD/JPY is creating a head and shoulders reversal pattern on the weekly chart. This view comes after the pair generated a lower high of 83.014 in May 2018. The price action serves as a confirmation that the 82.70 resistance is still intact. More importantly, it trapped bulls who bought the breakout. Breach of 79.80 support should start a waterfall event that would drive the market down to our target.

The strategy is to short SGD/JPY when it breaks below 79.80. Once the market is below this level, participants will cut their losses which may send the pair to our target of 74.

The process may take three months.

Weekly Chart of Singapore Dollar/Japanese Yen on OANDA

As of this writing, the Singapore Dollar/Japanese Yen pair (SGD/JPY) is trading at 80.965 on OANDA.

Summary of Strategy

Buy: Short the market when it moves below 79.80.

Target: 74

Stop: Move above 81 after the breakout.

 

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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3.7 stars on average, based on 182 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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