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Trade Recommendation: EUR/RUB

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The Euro/Russian Ruble pair (EUR/RUB) supercharged its uptrend in December 2013 when it took out resistance of 45. The market had a strong base below 45 that it went parabolic after the breakout, catapulting the pair to as high as 97.907 in December 2014. In one year, the Euro grew by 54% against the Russian Ruble.

At this price, the market was in extreme overbought territory. Trend followers and breakout traders took profits and drove the market down to 52.417 in April 2015. Bulls stepped in to bottom fish, which inspired a rally that helped lift the market to 93.69 in January 2016.

Sensing that a lower high was in place, market participants started to dump positions to limit their exposure and protect their capital. EUR/RUB plunged as it generated a series of lower highs until it bottomed out at 59.4435 in April 2017. The pair has been rallying since and it may be ready to start another bull run.

Technical analysis show that the Euro/Russian Ruble pair has broken out of a symmetrical triangle pattern on the monthly chart when it went above 75 on April 10, 2018. This comes after the pair generated a higher low of 59.4435 last year. In addition, the pair is far from overbought territory. While bears are working hard to regain control of the market, bulls have a lot of room to operate.

The strategy is to buy on dips as close to 75 as possible. As long as bulls are above this level, they may have the momentum to take the pair to our initial target of 95.

The process may take less than a year.

Monthly Chart of EUR/RUB

As of this writing, the EUR/RUB pair is trading at 76.363.

Summary of Strategy

Buy: Buy on dips as close to 75 as possible.

Target: 95

Stop: 73

 

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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3.6 stars on average, based on 224 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: Ethereum

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Just like many cryptocurrencies, Ethereum (ETH/USD) is having a terrible month. Investor outlook turned bleak on August 14, 2018 when the market plummeted to $249.93. At that point, Ethereum was down over 80% from its all-time high of $1,424.30. Just as Ethereum started to look hopeless, bottom pickers emerged.

Technical analysis show that ETH/USD is at the apex of a large falling wedge on the daily and weekly charts. The drop to $249.93 was seen as a buying opportunity since bulls came in droves. You can see this in the recent volume surge. We haven’t seen this volume since May.

The increase in demand pushed the market above $285 support. This is critical as $285 is the staging ground of the rally that saw the cryptocurrency skyrocket to $1,424.30. This tells us that ETH/USD may be badly beaten but it is not yet broken.  With the market above $285 again, bulls can use it to gather momentum and break out of the falling wedge.

The strategy is to buy the breakout at $325 as long as the market volume of 380,000 Ethereum is met. Those who bought the bottom might take profits at $325. ETH/USD needs buyers to absorb the selling pressure.

Once ETH/USD takes out $325, it can climb to our target of $520. Sell immediately.

The process may take less than a month.

Daily Chart of Ethereum/US Dollar on Bitfinex

As of this writing, the ETH/USD pair is trading at $304.22 on Bitfinex.

Summary of Strategy

Buy: Breakout at $325 with volume of 380,000 Ethereum.

Target: $525

Stop: $300 after the breakout.

 

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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3.6 stars on average, based on 224 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

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Bitcoin (BTC/USD) has been on a freefall since July 24, 2018 when its dead cat bounce came to an abrupt end at a price level of $8,496.96. The “smart money” used the rally to dump positions. Even support of $7,400 could not halt the skid. By August 14, BTC was trading below $6,000 and gloom and doom forecasts of a drop to $4,000 once again dominated the conversation.

Just as the calls to short the largest cryptocurrency were becoming louder, the market rallied to $6,628.50 on August 15, obliterating many short positions in the process. It’s not easy to trade Bitcoin, but if you look closer, you can see that there’s a method to the madness. 

Technical analysis show that BTC/USD is about to break out of an inverse head and shoulders pattern on the hourly chart. This is the same pattern that Bitcoin used to spark a rally on July 18, 2018. If you’re looking for a reversal, this pattern should be your primary candidate.

The strategy is to buy the breakout at $6,600 as long as the market generates volume of 500 Bitcoin units on the hourly chart. So far, the $6,600 resistance is proving to be one tough nut to crack. Bitcoin needs heavy volume to help push the price above the resistance.

Once BTC/USD takes out $6.600, it can quickly climb to our target of $7,400. Sell immediately. This might be another pump and dump rally.

The process may take less than a month.

Hourly Chart of Bitcoin/US Dollar on Bitstamp

As of this writing, the BTC/USD pair is trading at $6,351.01 on Bitstamp.

Summary of Strategy

Buy: Breakout at $6,600 with volume of 500 BTC.

Target: $7,400

Stop: $6,500 after the breakout.

 

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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3.6 stars on average, based on 224 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: TRON/Ethereum

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After days of heavy selling, the cryptomarkets are starting to show signs of life. It appears that bears are running out of ammunition just as many altcoins are about to hit long-term support levels. One of those altcoins is TRON/Ethereum (TRX/ETH).

Technical analysis show that TRX/ETH is at the tail end of its corrective period. The falling wedge on the daily chart is about to touch the apex. At the same time, TRX/ETH is hovering above a trendline that’s been keeping the pair’s long-term uptrend alive. We expect demand to surge as the price comes close to this support. Add that to the narrowing trading range and we have the ideal conditions to spark a rally.

Adding fuel to the fire is the daily RSI where we can see a bullish divergence. More importantly, the RSI seems to be creating a broadening wedge pattern. If the support holds, then the next stop of the RSI might be close to oversold territory. This tells us that bulls are brewing a powerful rally.

The strategy is to buy the breakout at 0.000072 after the pair prints volume of more than 110 million TRON units. Even though bears are exhausted, they will do their best to keep market control. TRX/ETH needs buyers to absorb the selling pressure.

Once breakout is complete, the ensuing rally would likely take the pair to our target of 0.0001.

The process may take less than one month.

Daily Chart of TRON/Ethereum on Binance

As of this writing, the TRON/Ethereum pair is trading at 0.00007136 on Binance.

Summary of Strategy

Buy: Breakout at 0.000072 with volume of 110 million TRON units.

Target: 0.0001

Stop:  0.00007 after breakout.

 

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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3.6 stars on average, based on 224 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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