Connect with us

Recommendations

Trade Recommendation: Ethereum

Published

on

The Ethereum/US Dollar pair (ETH/USD) launched its bull run on November 23, 2017 when it broke out of $400 resistance. With a solid base between $200 – $400, the market skyrocketed to as high as $1,419.96 on January 13, 2018. In less than two months, the pair grew by almost 255%. Those who bought the breakout and followed the trend were happy to take profits.   

// -- Discuss and ask questions in our community on Workplace.

Faced with heavy selling pressure, the market dropped to $757 on January 17. Bottom pickers bought the dip but the rally they inspired could only carry the market to $1,224 on January 28. The lower high was a clear signal that the bull run was over. Market participants responded by taking profits or cutting their losses. As a result, the market created a series of lower highs and lower lows until recent price action.  

Technical analysis show that Ethereum/US Dollar appears to be bottoming out at $400 support. This comes after the pair may have capitulated on March 18 when it printed over 375% of its average daily volume. In addition, volume also spiked on March 29 and March 30 when the pair went below $400 support. This suggests that bulls are coming out to buy the support.

The strategy is to buy as close to $400 as possible. If bulls defend the support, they will create a base before moving to our target of $620. Sell immediately once target is hit because the pair will most likely range trade to repair its technical damage. The process may take a month.

// -- Become a yearly Platinum Member and save 69 USD and get access to our secret group on Workplace. Click here to change your current membership -- //

Daily Chart of ETH/USD on Coinbase

As of this writing, the Ethereum/US Dollar pair is trading at $421.44 on Coinbase.

Summary of Strategy

Buy: As close to $400 as possible.

Target: $620

Stop: $360

 

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.

Rate this post:

Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way.
4 votes, average: 3.50 out of 54 votes, average: 3.50 out of 54 votes, average: 3.50 out of 54 votes, average: 3.50 out of 54 votes, average: 3.50 out of 5 (4 votes, average: 3.50 out of 5)
You need to be a registered member to rate this.
Loading...

3.6 stars on average, based on 145 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.




Feedback or Requests?

12 Comments

12 Comments

  1. dopezone

    April 11, 2018 at 4:18 pm

    I allways wonder. You advice to buy @ $400. It’s now about $420-430. Do you advice here to wait for it to go lower? Or is this the right time to buy?

  2. Kiril Nikolaev

    April 11, 2018 at 4:35 pm

    Good question. I would say it’s up to the investor’s discretion. Essentially trying to buy as close to 400 as possible will depend on your risk tolerance and personal circumstances. If you’re really risk averse then buying at no more than just a bit over 400 would be appropriate. If you’re less risk averse then buying at 420 may work for you, knowing that you’re taking a higher risk.

  3. jasharma

    April 11, 2018 at 9:22 pm

    Hellp Kiril, I always follow your advice before investing. But I am confused how long should I hold it? I have bought WAVES yesterday but it still hasnt reached the expected value yet. Can you please advice how to go about in this kind of situation?

    • Kiril Nikolaev

      April 11, 2018 at 9:45 pm

      I usually write in what time frame I think the asset will reach the target. In this one I believe I left it out, but when range trading it’s usually a fairly short period of time. In this case I think Waves will hit the target in less than a month. Keep in mind, these recommendations are just my opinion of what I think may happen based purely on technical analysis.

  4. jasharma

    April 11, 2018 at 9:49 pm

    Your recommedations have always helped me take right decision. Would be great if you post how long we should HODL a particular coin. On my personal front it helps people like me a lot!

    Thanks again Kiril for guidance!

    • Kiril Nikolaev

      April 11, 2018 at 9:56 pm

      Personally I HODL all my coins. I do not day trade with cryptos. By definition, HODL is when you’re holding your cryptos for a long time and riding through the day to day volatility and not selling. I’ll consider writing some long term trade recommendations based on fundamental analysis instead of purely technicals. Thanks for the idea.

      • fermera_dany

        April 12, 2018 at 10:55 am

        “I’ll consider writing some long term trade recommendations based on fundamental analysis instead of purely technicals”

        Now that would be really great. I managed one such portfolio, which is 4 MO old now and I consider hodling it for a long time.

        I would be very interested to see your top 5-10 picks to hold for the next few years.

        Cheers

  5. jasharma

    April 11, 2018 at 9:58 pm

    Also can you guide us in Short trading?

    • Kiril Nikolaev

      April 11, 2018 at 10:02 pm

      That’s more risky than buying cryptos, even in today’s market environment. Might consider it very rarely

  6. jasharma

    April 11, 2018 at 10:03 pm

    Thanks for the advice. even I will avoid it.

  7. jasharma

    April 11, 2018 at 10:04 pm

    Just last query? How long should ETH HODL? can this hike happen this month?

    • dopezone

      April 12, 2018 at 8:28 am

      He said so in his post:
      “The strategy is to buy as close to $400 as possible. If bulls defend the support, they will create a base before moving to our target of $620. Sell immediately once target is hit because the pair will most likely range trade to repair its technical damage. The process may take a month.”

You must be logged in to post a comment Login

Leave a Reply

Recommendations

Trade Recommendation: NEM

Published

on

This trade recommendation is setting up quickly and requires prompt attention

// -- Discuss and ask questions in our community on Workplace.

The overall market has a nice uptrend and there is key support with the Daily Pivot Range for today’s session. In addition, the Daily Pivot Moving Averages are turned up in parallel.

The 3 Day and 6 Day Rolling Pivot Range as well as the Weekly Pivot Range and Monthly Pivot Range are set below the current price which is also very supportive.

The action to take is to place a buy order to enter the market long if the market trades at or above the ‘A’ up line for 15 consecutive minutes or longer. This will confirm the market wants to move higher. Use your short term or 1-5 minute charts to verify the time requirement. Place the stop loss at the Opening Range low.

// -- Become a yearly Platinum Member and save 69 USD and get access to our secret group on Workplace. Click here to change your current membership -- //

This is a good risk reward ratio within a high probability setup with a lot of support.

Entry Price: 0.00004710
Stop Loss: 0.00004630
Profit Targets: First profit target 0.00004875. Second profit target 0.00004970. Once price reaches the first profit target raise the stop loss to breakeven. Then if the market follows through to higher levels manage the trade by trailing a stop loss 0.00000050 points behind until second profit target is reached or stopped out.

Disclaimer: The writer owns Litecoin, 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.

Rate this post:

Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way.
1 vote, average: 5.00 out of 51 vote, average: 5.00 out of 51 vote, average: 5.00 out of 51 vote, average: 5.00 out of 51 vote, average: 5.00 out of 5 (1 votes, average: 5.00 out of 5)
You need to be a registered member to rate this.
Loading...

3.8 stars on average, based on 41 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.




Feedback or Requests?

Continue Reading

Recommendations

Trade Recommendation: Stellar

Published

on

This trade recommendation is setting up quickly and requires prompt attention

// -- Discuss and ask questions in our community on Workplace.

The overall market has a nice uptrend and there is key support with the Daily Pivot Range for today’s session. In addition, the Daily Pivot Moving Averages are turned up in parallel.

The 3 Day and 6 Day Rolling Pivot Range as well as the Weekly Pivot Range and Monthly Pivot Range are set below the current price which is also very supportive.

The action to take is to place a buy order to enter the market long if the market trades at or above the ‘A’ up line for 15 consecutive minutes or longer. This will confirm the market wants to move higher. Use your short term or 1-5 minute charts to verify the time requirement. Place the stop loss at the Opening Range low.

// -- Become a yearly Platinum Member and save 69 USD and get access to our secret group on Workplace. Click here to change your current membership -- //

This is a good risk reward ratio within a high probability setup with a lot of support.

Entry Price: 0.396500
Stop Loss: 0.36500
Profit Targets: First profit target 0.487500. Second profit target 0.582100. Once price reaches the first profit target raise the stop loss to breakeven. Then if the market follows through to higher levels manage the trade by trailing a stop loss 0.025000 points behind until second profit target is reached or stopped out.

Disclaimer: The writer owns Litecoin, 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.

Rate this post:

Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way.
2 votes, average: 5.00 out of 52 votes, average: 5.00 out of 52 votes, average: 5.00 out of 52 votes, average: 5.00 out of 52 votes, average: 5.00 out of 5 (2 votes, average: 5.00 out of 5)
You need to be a registered member to rate this.
Loading...

3.8 stars on average, based on 41 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.




Feedback or Requests?

Continue Reading

Recommendations

Trade Recommendation: EUR/ZAR

Published

on

The Euro/South African Rand pair (EUR/ZAR) launched its uptrend in July 2013 when it breached resistance of 13. With a solid base between 8.70 – 13.00, the market soared to as high as 18.91174 in January 2016. In two and half years, the Euro grew by over 45% against the South African Rand. Those who bought the breakout and followed the trend started to take profits. After all, 18 was the target of the rounding bottom reversal pattern on the monthly chart that was triggered when the pair took out resistance of 13.

// -- Discuss and ask questions in our community on Workplace.

Faced with heavy selling pressure, EUR/ZAR fell to 13.37818 in March 2017. The higher low inspired a rally that lifted the market to 17.06768 in November 2017. Unfortunately for buyers at that level, the pair could no longer sustain its ascent. It then resumed its drop but interestingly, it appears to be carving another higher low.

Technical analysis reveal that the EUR/ZAR pair is creating a large symmetrical triangle pattern on the monthly chart. This comes after the market generated another higher low of 14.17454 in February 2018. As long as the pair respects the trendline, it has a very good chance of breaking out of the continuation pattern and mount a significant rally.

The strategy is to buy as close to 14.35 as possible. If bulls continue to move according to the trendline, the market will likely contract before exploding upward to our target of 20.00. The process may take more than a year.

// -- Become a yearly Platinum Member and save 69 USD and get access to our secret group on Workplace. Click here to change your current membership -- //

Monthly Chart of EUR/ZAR on OANDA

As of this writing, the EUR/ZAR pair is trading at 14.78268 on OANDA.

Summary of Strategy

Buy: As close to 14.35 as possible.

Target: 20

Stop: 14.17454

 

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.

Rate this post:

Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way.
0 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 5 (0 votes, average: 0.00 out of 5)
You need to be a registered member to rate this.
Loading...

3.6 stars on average, based on 145 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.




Feedback or Requests?

Continue Reading

Recent Comments

Recent Posts

A part of CCN

Hacked.com is Neutral and Unbiased

Hacked.com and its team members have pledged to reject any form of advertisement or sponsorships from 3rd parties. We will always be neutral and we strive towards a fully unbiased view on all topics. Whenever an author has a conflicting interest, that should be clearly stated in the post itself with a disclaimer. If you suspect that one of our team members are biased, please notify me immediately at jonas.borchgrevink(at)hacked.com.

Trending