Connect with us

Recommendations

Trade Recommendation: Expanse

Published

on

The Expanse/Bitcoin (EXP/BTC) market lost all bullishness on January 20, 2018 when it generated a lower high of 0.0005369. Bears took complete control of the market 10 days later when the market broke the 0.0004 support level. While the market did bounce and reach as high as 0.00043384 on February 4, the rally was not strong enough to reclaim 0.0004. On the same day, the market closed at 0.00034183, validating the downtrend.

Bears continued their rampage as they extended their reach to 0.0003. Bulls tried to defend the support level but the selling pressure was just too immense. On February 20, the market finally closed below 0.0003, which triggered another round of selling. While the breakdown might cause others to panic, this could be a good opportunity to buy positions.

Technical analysis show that the Expanse/Bitcoin market is well on its way to support of 0.0002. That level is the target of the head and shoulders reversal pattern that was triggered on January 30. The break below 0.0003 support affirms this view. In addition, the market would lose over 66% of its value if it touches 0.002. At that point, many participants would most likely be in a depressed state. That’s a good place to start picking up positions.   

The strategy is to buy as close to 0.002 as possible. If bulls successfully defend this level, the pair will likely bounce and reach our target of 0.004. The process may take a month.

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

Take note: the market is still in a downtrend. We’re just playing the bounce.

Daily Chart of Expanse/Bitcoin on Poloniex

As of this writing, the Expanse/Bitcoin pair is trading at 0.00027006 on Poloniex.

Summary of Strategy

Buy: As close to 0.0002 as possible.

Target: 0.0004

Stop:  0.000183

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.
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 179 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?

Recommendations

Trade Recommendation: Litecoin

Published

on

Litecoin is looking good with near term and mid term Pivot Ranges below our current price level at the opening of the new session. We call this the Pivot Stack, when Pivots are grouped together, this is a sign of consolidation in price as an important level of support & resistance. Notice also the previous Pivots grouped together in the previous session. The price moved through all of these levels with significant strength or like a “hot knife through butter”. When this happens it is a sign the market has real strength behind it and could have a lot more left in the move.

The Daily Pivot Moving Averages are also turning bullishly upward.

The action to take is to buy if the price trades at or above the ‘A’ up line for at least 15 consecutive minutes. Place the stop loss below the Pivot Stack and the swing low, and the profit targets as stated.

If the trade signal is not triggered by end of the session, cancel the orders.

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

Entry Price: 99.69
Stop Loss: 92.80
Profit Targets: First profit target 108.20 . Second profit target 112.30. Once price reaches first profit target bring stop loss to breakeven (entry point).

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...

3.9 stars on average, based on 74 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: GBP/AUD

Published

on

The British Pound/Australian Dollar pair (GBP/AUD) looked extremely bearish in August 2009 when it broke below support of 2.00. This triggered a waterfall event that saw the pair plummet to 1.43818 in March 2013. In about three and a half years, the British Pound lost 28% of its value against the Australian Dollar.

With a bottom in place, GBP/AUD began to rally. It took out resistance of 1.78 in November 2013. This triggered the rounding bottom reversal pattern on the weekly and monthly charts. The breakout pushed the pair to as high as 2.24049 in August 2015.

At this price level, the pair has already achieved the target of the rounding bottom pattern. This inspired a selling frenzy that drove the pair down to 1.53222 in October 2016 as bottom pickers and breakout players took profits. GBP/AUD has been rallying since. This could be your chance to buy the confirmation of a breakout.

Technical analysis reveal that the British Pound/Australian Dollar pair has taken out resistance of 1.78 in March 2018. This triggered the inverse head and shoulders continuation pattern on the weekly chart. The rally to 1.85086 in March affirms the breakout. However, the market has pulled back. This opens the chance to buy the breakout.

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

The strategy is to buy as close to 1.775 as possible. As long as the market stays above this level, it will attract more momentum to push it to our target of 1.98.

The process may take three months.

Weekly Chart of British Pound/Australian Dollar on OANDA

As of this writing, the British Pound/Australian Dollar pair (GBP/AUD) is trading at 1.77848 on OANDA.

Summary of Strategy

Buy: As close to 1.775 as possible.

Target: 1.98

Stop: Close below 1.74.

 

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 179 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: Modum

Published

on

The Modum/Bitcoin pair (MOD/BTC) attempted to breakout from the inverse head and shoulders formation on May 4, 2018. Our April 15, 2018 trade recommendation banked on this breakout. Unfortunately, the pair only generated about half of the required 1.5 million Modum volume. As a result, bears were able to hold on to the resistance  

A false breakout usually inspires a selling frenzy as it sends the message that bulls are not yet ready to take over. This is why it is important to look at the volume when attempting to trade pattern breakouts. Heavy volume takes out sellers and inspires more buyers.

With lower than required volume, MOD/BTC plummeted. It went as low as 0.0001354 on May 26 before bulls rushed in to keep the pair stable. The price action may have signalled a tradable bottom.

Technical analysis show that Modum/Bitcoin is respecting support of 0.000175. This view comes after the pair has managed to stay above this level for about a week now. More importantly, we can see that MOD/BTC hovers above RSI support of 30. This hints that the pair is gathering momentum for a possible bounce. Lastly, the 4-day, 8-day, and 21-day moving averages are reversing their direction.

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

The strategy is to buy the breakout as close to 0.000175 support as possible. If bulls continue to stay above this price point, they will attract more buyers who can help push the pair to our target of 0.00025.

The process may take less than a month.

Daily Chart of MOD/BTC on Binance

As of this writing, the Modum/Bitcoin pair is trading at 0.0001847 on Binance.

Summary of Strategy

Buy: As close to 0.000175 as possible.

Target: 0.00025

Stop: 0.000166

 

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 179 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

12 of 15 Seats Available

Learn more here.

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