Connect with us

Recommendations

Trade Recommendation: EURUSD

Published

on

This trade recommendation is setting up quickly and requires prompt attention

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

The bias remains to the upside for the short term with the price trading above the Daily Pivot Range (blue dots), therefore this level is key support.

The 14 Day Pivot Moving Average (red) is turning up, and crossing the 30 Day Pivot Moving Average (yellow) and this is bullish.

The price action is setting up for a retest of the recent swing high of 1.24531. However, the price will have to penetrate and hold above the 3 Day Rolling Pivot Range (RPR, green and yellow dots).

// -- Become a yearly Platinum Member and save 69 USD. Click here to change your current membership -- //

The action to take is to place a buy order to enter the market long if the market closes above the 3 Day RPR on a 60 minute chart. Place the stop loss a pip below the Daily Pivot Range low and the profit target stated below.

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: 1.2454
Stop Loss: 123.80
Profit Targets: Profit target 1.2525. Once market breaks out and reaches 1.2485 bring stop loss to break even, then trail stop loss 20 pips behind as price goes above 1.2485, until profit target is reached.

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.

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...

4 stars on average, based on 57 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?

Recommendations

Trade Recommendation: Zcash

Published

on

This trade recommendation is setting up quickly and requires prompt attention

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

Zcash (ZECUSDT) has bounced off the Monthly Pivot Range high. This is significant, longer term support and is a great area to look at going long the market. On the Hourly chart you can see a very encouraging sign in the Hammer candle a few hours ago, that is part of the double bottom formation from the last couple days.

The Daily Pivot Range is in the way for the moment and we will want to see the price move beyond this level to confirm a buy position. The Monthly Pivot is usually an extremely reliable level to lean against. However, we will take the more conservative approach and await a confirmed move of strength to the upside before we enter long.

The action to take is to place a buy order to enter the market long if the market trades at or above the previous swing high level of 283.00. Place the stop loss below the Hammer candle low which is also below the Monthly Pivot Range high support. See the profit targets below.

// -- Become a yearly Platinum Member and save 69 USD. Click here to change your current membership -- //

Entry Price: 283.50
Stop Loss: 267.00

Profit Targets: First profit target 298.00. Second profit target 317.00.

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.
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...

4 stars on average, based on 57 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: AUD/INR

Published

on

The Australian Dollar/Indian Rupee pair (AUD/INR) ignited its bull run in September 2010 when it breached resistance of 42. This activated the cup and handle reversal pattern on the weekly chart. The breakout attracted trend followers and breakout buyers. The increased buying activity sparked a run that saw the market climb to 62.419 in September 2013. In three years, the Australian Dollar grew by over 48% against the Indian Rupee.

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

At this price point, the market flashed bearish signals. A bearish divergence was spotted on the weekly RSI. Also, bulls failed to close above 60.00 on the weekly and monthly charts. This indicated that bulls were exhausted. Those who understood these signals took profits.

The heavy selling pressure drove the pair down to support of 54 in January 2014. While AUD/INR managed to bounce, it could only go as high as 57.553 in August 2014. The lower high killed the market’s bullish momentum. This triggered a selling frenzy that activated the head and shoulders pattern on the weekly chart. As a result, the market plummeted to 45.847 in October 2015.

The pair has been rallying since. This could be your chance to buy the breakout.

// -- Become a yearly Platinum Member and save 69 USD. Click here to change your current membership -- //

Technical analysis show that AUD/INR is looking to take out resistance of 51.60. This comes after the pair generated a series of higher lows with the most recent one at 48.388 in December 2017. The breakout would trigger the huge ascending triangle pattern on the weekly chart.

The strategy is to buy the breakout at 51.60. As long as bulls stay above 51.00, they have all the momentum they need to climb to our target of 57.60.

The process may take more than six months.

Monthly Chart of AUD/INR

As of this writing, the Australian Dollar/Indian Rupee pair is trading at 51.215.

Summary of Strategy

Buy: Breakout at 51.60.

Target: 57.60

Stop: Close below 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.

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...

3.7 stars on average, based on 169 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

Recommendations

Trade Recommendation: Gifto

Published

on

The Gifto/Bitcoin pair (GTO/BTC) started to look bullish on January 3, 2018 when it took out resistance of 0.000025. This activated the small rounding bottom pattern on the daily chart. Also, the breakout attracted a lot of momentum that skyrocketed the pair to 0.00007499 on January 12. In a little over a week, the pair rose by almost 200% in value.

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

At this price level, the market flashed bearish signals. First, the market was extremely overbought. Also, a bearish divergence can be spotted on the RSI. Plus, the market has grown so fast in a short time frame. Savvy traders who bought the breakout saw these signals, so they took profits.

The heavy selling drove the market back down to support of 0.000028 on February 2. From there, GTO/BTC rallied back to 0.00007 resistance on February 15. Once again, the pair succumbed to selling pressure as it dropped to the 23.6% Fibonacci level on March 7. While the pair broke the support of 0.000028 on March 29, bulls came to the rescue and pushed the market close to 0.00007 resistance on May 3.

Technical analysis reveals that GTO/BTC is locked in wide range between 0.000028 – 0.00007. Bulls come out when the market hovers around the 23.8% Fibonacci level. On the other end, bears flex their muscles at the 78.6% Fibonacci level. We’ll follow their lead to generate a profitable trade.

// -- Become a yearly Platinum Member and save 69 USD. Click here to change your current membership -- //

The strategy is to bottom fish the market and buy as close to 0.000028 as possible. If bulls preserve this support, the pair will likely move back to resistance of 0.00007. However, it would be best to start taking profits at the 78.6% Fibonacci level or 0.000058. Charts show that bulls have a hard time going above this price area.

The process may take a month.

Daily Chart of Gifto/Bitcoin on Binance

As of this writing, the Gifto/Bitcoin pair is trading at 0.00003418 on Binance.

Summary of Strategy

Buy: As close to 0.000028 as possible.

Target: 0.000058

Stop:  0.000026

 

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.
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...

3.7 stars on average, based on 169 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