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Trade Recommendation: Crude Oil

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The market is going to move upward. We can see a price reversal from the support zone formed by the uptrend line and 52.00 support level. DMI confirms range market conditions and for opening long trades it’s better to have an additional signal. Such signal can be a breakout above the previous high. It will give us an additional confirmation of further upward movement. Pending orders for buy should be placed at 52.60 level. Stop orders must be at 51.85 level. Profit targets are 54.00 and 55.00 levels. Don’t risk more than 3% from your deposit in this trade.

Market: Crude Oil (WTI)
Buy: 52.60
Stop: 51.85
Profit Targets: 54.00 and 55.00

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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3.3 stars on average, based on 44 rated postsDmitriy Lavrov is a professional trader, technical analyst and money manager with 10 years trading experience. The main covered markets are Forex, Commodity, Cryptocurrency. Provides personal education for those who are interested in profitable trading. Entries in TOP 10 among TradingView authors.




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Trade Recommendation: EOS

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Our February 11, 2019 EOS trade recommendation hit both targets. The first target was achieved on February 18 when the market climbed to as high as 0.0009. The second target was hit on the next day as the price rallied to 0.0009567. Those who followed the trade recommendation grew their investments by over 28% in about a week.

If you failed to ride this wave up, don’t worry because EOS is just starting to move. It broke out of accumulation range on February 8 when it breached resistance of 0.00073. The breakout was followed by a strong rally that propelled this altcoin to as high as 0.000996 on February 20. This rally was pushed by significantly heavy volume, which affirms our position that this coin has turned bullish.

However, the market is showing signs of short-term exhaustion. Those who want to long EOS can do so when it retraces.

Technical analysis shows that EOS/BTC is likely to correct down to support of 0.000888. We have this view because this crypto is flashing overheated signals. It is trading in extreme overbought territory on the daily RSI. Also, volume has been decreasing, which points to buyer exhaustion.

Nevertheless, EOS remains bullish. If bulls defend 0.000888, it will flip the former resistance into support. In addition, we just saw a golden cross between the 50-day moving average and the 100-day moving average. On top of that, the 50-day MA is enroute to cross above the 200-day MA. These are signs that EOS is on its way to a healthy uptrend.

The strategy is to buy on dips as close to 0.000888 as possible. As long as EOS trades above this level, bulls will likely gather the momentum to climb to our target of 0.0013.

The process may take less than a month.

Daily Chart of EOS/Bitcoin on Binance

As of this writing, the EOS/Bitcoin pair is trading at 0.0009662 on Binance.

Summary of Strategy

Buy: As close to 0.000888 as possible.

Target: 0.0013

Stop: 0.00085

 

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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3.9 stars on average, based on 332 rated postsKiril is a CFA Charterholder and financial professional with 5+ 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 funds, as he does his own crypto research and is a Product Manager at Mitre Media. 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

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Cardano (ADA/USD) is a market that looks ready to flex its muscles. The market appears to have established a bear market low of $0.025601 on December 7, 2018. At that point, Cardano was showing signs of reversal. The daily candle on that day had a long wick below its body to show the presence of buyers. Also, the daily RSI was flashing a bullish divergence as the market traded in oversold territory.

Under these conditions, Cardano generated a strong rally. It climbed as high as $0.074 on January 8, 2019. Although the market has been pulling back since, this gives us a chance to buy the dip.

Technical analysis shows that ADA/USD is creating a bullish higher low setup of $0.042. This price area used to be Cardano’s immediate resistance as the market struggled to breach this level from January 27 to February 17, 2019. On February 18, the market took out this resistance with heavy volume. We believe that Cardano’s next move is to flip this resistance into support.

In addition, the rally on February 18 coincided with a golden cross on the daily chart. On that day, the 50-day moving average crossed above the 100-day moving average. This is a signal that the market is turning bullish.

The strategy is to buy as close to $0.042 as possible. If bulls can stay above this level, they will likely generate a rally to our targets of $0.0535 and $0.067.

The process may take less than a month.

Daily Chart of Cardano/US Dollar on Kraken

As of this writing, the Cardano/US Dollar pair is trading at $0.45049 on Kraken.

Summary of Strategy

Buy: As close to $0.042 as possible.

Targets: $0.0535 and $0.067.

Stop: $0.40

 

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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3.9 stars on average, based on 332 rated postsKiril is a CFA Charterholder and financial professional with 5+ 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 funds, as he does his own crypto research and is a Product Manager at Mitre Media. 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: Waves

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One of the most important things that has kept our losses minimal during this bear market is that we never allow the fear of missing out influence our trading decisions. When we see an altcoin that we have no positions in rally, we do not immediately jump on the bandwagon. That’s how a lot of new retail traders lose their capital. Instead, we wait for a significant pullback and signs of consolidation. This is exactly our approach to trading Waves (WAVES/BTC).

Waves was among the first to decouple from Bitcoin’s trend. From the low of 0.0002336 on November 21, 2018, it skyrocketed to as high as 0.001209 on December 19. That’s an increase of over 400% in less than a month. From that point, the market has been correcting. After two months of consolidation, we’re convinced that Waves is due for a rally.

Technical analysis reveal that Waves/Bitcoin is trying to carve a short-term bottom of 0.0007. This view comes after the market refused to breach this level after four attempts in less than two months. While others may argue that the support is now weak due to multiple touches, we believe that this is a case of accumulation rather than demand drying out. Volume supports this assumption.

First, we can see that volume has significantly decreased since December 19, 2018. This tells us that sellers are losing ammunition. Also, volume is thin whenever Waves touches support of 0.0007. This indicates that many participants are not interested in selling at these levels. Thus, it is likely that the market maker attempts to keep the price low and shake out as many participants as possible.

The strategy is to buy as close to 0.0007 support as possible. If bulls continue to preserve the support, they will likely attract the momentum they need to move to our targets of 0.00087 and 0.001047.

The process may take less than a month.

Daily Chart of Waves/Bitcoin on Binance

As of this writing, the Waves/Bitcoin pair is trading at 0.0007152 on Binance.

Summary of Strategy

Buy: As close to 0.0007 as possible.

Targets: 0.00087 and 0.001047.

Stop: 0.000675

 

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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3.9 stars on average, based on 332 rated postsKiril is a CFA Charterholder and financial professional with 5+ 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 funds, as he does his own crypto research and is a Product Manager at Mitre Media. 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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