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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.

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.

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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3.7 stars on average, based on 78 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: 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 331 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: Stellar

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We removed Stellar (XLM/BTC) from our watch list when it failed to hold 0.000026 on January 28, 2019. At that point, we knew that a move below this level will likely result in panic selling. That’s because 0.000026 stood as the market’s 2018 support. Stellar has managed to stay above this level for the whole of 2018. Thus, the move below it on January 28, 2019 ignited massive selling.

To stop the bleeding, Stellar needed to generate heavy volume on the daily chart. This would indicate that a big buyer has stepped in to absorb the selling pressure. We suspect that this happened yesterday, February 19.

Technical analysis shows that XLM/BTC is attempting to carve a durable support at 0.000021. This view comes after Stellar printed heavy volume yesterday when the market touched 0.000021. On February 19, the volume skyrocketed to 142.652 million XLM units when the daily trading average was about 60.614 million XLM units. The last time Stellar generated this type of volume was five months ago. This was an indication that a large player has stepped in.

In addition, XLM is trading near oversold conditions. With the market being so badly beaten over the last couple of months, it is due for a relief rally at the very least.

The strategy is to buy as close to 0.000021 as possible. If bulls can stay above this level, they will likely generate a rally to our targets of 0.000026 and 0.00003.

The process may take a month.

Daily Chart of Stellar/Bitcoin on Binance

As of this writing, the Stellar/Bitcoin pair is trading at 0.00002288 on Binance.

Summary of Strategy

Buy: As close to 0.000021 as possible.

Targets: 0.000026 and 0.00003.

Stop: 0.00002

 

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 331 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: EOS

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EOS (EOS/USD) is a market that looks primed to explode.

It established a short-term bottom of $1.55 on December 7, 2018. At that point, the market lost over 93% from its 2018 high of $23.029 on April 29. While this crypto looked dreadful when it recorded its 2018 low on December 7, volume on that day was significantly heavy. This told us that the smart money was accumulating positions in bulk while stopping the bleeding at the same time.

With buyers emerging, EOS entered an accumulation period as it range traded between $1.75 and $3 for over two months. This period ended yesterday when the price decided to trend higher.

Technical analysis shows that EOS took out resistance of $3 on February 18, 2019. This triggered the breakout from range accumulation, which may have likely signalled that the bottom is in. Also, the breakout looks valid. Yesterday, the coin printed volume that’s over 300% of its daily average. This tells us that sentiment has likely shifted from bearish to bullish.

Yesterday’s move, however, pushed EOS to overbought territory. Also, the 200-day moving average is acting as a resistance. These signals indicate that this altcoin is due for a pullback. We’ll take this chance to buy on dips.

The strategy is to buy on the retest of $3. If bulls can stay above this support, they’ll likely gather the momentum to rally to our range midpoint of $4. Take that out and the next target is $5.

The process may take less than a month.

Daily Chart of EOS/US Dollar on Bitfinex

As of this writing, the EOS/US Dollar pair is trading at $3.7441 on Bitfinex.

Summary of Strategy

Buy: As close to $3 as possible.

Targets: $4 and $5.

Stop: $2.88

 

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 331 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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