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Trade Recommendation: GBPJPY

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The price bounces from the support zone formed by the uptrend line and 148.00 support level. RSI confirms price reversal. MACD is going to support upward movement and DMI allows opening long trades. We have buy opportunity. Pending order can be placed above the previous high at 149.50 level. Stop orders should be below the local swing low at 147.80 level. Profit target are 152.70 and 159.80 levels. Don’t risk more than 3% from your deposit in this trade.

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Market: GBPJPY
Buy: 149.50
Stop: 147.80
Profit Targets: 152.70 and 159.80

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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3.2 stars on average, based on 44 rated postsDmitriy Lavrov is a professional trader, technical analyst and money manager with 10 years trading experience. The main covered markets are Forex, Commodity, Cryptocurrency. Provides personal education for those who are interested in profitable trading. Entries in TOP 10 among TradingView authors.




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  1. discotristo

    October 20, 2017 at 6:27 pm

    Thanks for that 🙂

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Trade Recommendation: Intact Financial

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Technical Overview

  • Since double-bottoming in 2008 and 2009 at $26 (violet horizontal trendline in Figure 1), Intact Financial (IFC.TO) has enjoyed a four-fold increase. During the 2013, 2016 and 2018 corrections, the stock found support at a long-term trendline (support – green trendline; retests – green arrows).

Figure 1. IFC.TO Weekly Chart

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  • Zooming in, after topping in November’17, IFC completed a H&S pattern (tops – yellow ellipses, neckline – yellow trendline in Figure 2).
  • In January, March, April, and May, all up-moves halted at a well-defined short-term resistance (red trendline). Yesterday (May 25), the stock managed to break and close above the resistance.
  • Today, the stock closed in positive territory, whereas the Financial sector (TTFS.TO) declined by over 0.5%.
  • The $95 level had served as support on multiple occasions in 2018 (purple horizontal trendline and arrows).

Figure 2. IFC.TO Daily Chart

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Implications

  • The bounce off of the long-term support and the break above the short-term resistance are considered constructive.
  • The stock is expected to find support in the $95 – $96.50 range during pullbacks (i.e. at the red and purple trendlines).
  • The downward target from the H&S pattern was nearly met during the May decline (target – $92.25 – white vertical trendline in Figure 2, May 9 low – $92.65 – last purple arrow).

Outlook

  • Short-term bullish as long as the stock remains above $95
  • Long-term bullish as long as the stock remains above its long-term support (green trendline in Figure 1).

 Trade Recommendation

  • Buy the stock at current levels ($97.50 at EOD on May 24).
  • Target: Half at $101 (the January low which served as resistance in March – second red arrow). Other half at $108 (origin of the late 2017 decline).
  • Stop: Half upon a close below $95. Other half upon a close below the long-term support (currently at approximately $93.50).

Disclosure: No position yet but may initiate at any time. Will likely recommend the stock to my clients as a potential play within the financial sector.

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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4.8 stars on average, based on 12 rated postsPublished author of technical research. In his work on price “gaps”, published in the 2018 International Federation of Technical Analysts’ Annual Journal, he developed a new technical tool for analyzing and trading the “gap” phenomenon – the “K-Divergence” (http://ifta.org/public/files/journal/d_ifta_journal_18). Besides obtaining a Master in Financial Technical Analysis, he has completed a BBA and an MBA from the Schulich School of Business in Toronto and has completed all exams for the CFA, CMT and CFTe designations. Currently, providing research to investment management and financial advisory firms. http://www.linkedin.com/in/konstantindimov




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Trade Recommendation: Silver/CAD

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The Silver/Canadian Dollar pair (XAG/CAD) launched its uptrend in August 2010 when it took out resistance of 20.00. This triggered the cup and handle reversal pattern on the monthly chart. The breakout attracted so much momentum that the pair quickly became parabolic on the monthly chart. Powered by its supercharged velocity, Silver/CAD went as high as 47.411 in April 2011. In eight months, silver grew by over 137% against the Canadian Dollar.

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At this price point, the pair was in extreme overbought territory. Those who followed the trend and bought the breakout saw this as a sign to take profits.

As sellers dominated the market, it plunged to 31.3155 in May 2011. After seeing that the market respected the 61.8% Fibonacci level, bottom pickers entered the buying scene. They ignited a rally which sent Silver/CAD to 43.79802 in August 2011.

Sensing that a lower high in place, market participants dumped positions to protect their capital. The pair generated a series of lower highs and lower lows until it found the bottom at 16.40549 in December 2014. The good news for buyers at this level is that the market has been working hard since to restart another bull run.

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Technical analysis show that the Silver/Canadian Dollar pair is creating a symmetrical triangle pattern on the weekly chart. This comes after it generated a bullish higher low setup at 19.58902 in July 2017. In addition, the Bollinger bands are contracting. With a bullish bias, the market may explode to our target after it breaks out from its narrow range.

The strategy is to buy at current market level. As long as bulls defend support of 21, they have all the momentum they need to climb to our target of 26.

The process may take more than three months.

Weekly Chart of Silver/CAD on OANDA

As of this writing, the Silver/Canadian Dollar pair is trading at 21.45562 on OANDA.

Summary of Strategy

Buy: Buy at current market price of 21.45562.

Target: 26

Stop: Close below 21.

 

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 168 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: WaBi

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The WaBi/Bitcoin pair (WABI/BTC) started its uptrend on December 31, 2017 when it took out resistance of 0.00016. This triggered the small cup and handle reversal pattern on the daily chart. The breakout attracted so much momentum that it went parabolic and skyrocketed to 0.00040733 on January 10, 2018. In less than two weeks, WABI/BTC rose by almost 155%.

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At this price level, the market flashed bearish signals. First, it was in extreme overbought territory. In addition, the daily candle on January 10 was a shooting star indicating the presence of sellers above 0.00034. Those who bought the breakout saw this as an opportunity to take profits.

As the market succumbed to selling pressure, it plummeted to 0.0001822 on January 16. While bottom fishers bought the dip, the rally they sparked was only good for a lower high of 0.0003248 on January 20. With a lower high in place, WABI/BTC nosedived until it found the bottom at 0.00007511 on March 18.

The pair has been consolidating since. This could be your opportunity to buy the market near its bottom.

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Technical analysis reveals that WaBi/Bitcoin is in sideways consolidation. It is trading in a wide range between 0.00008 and 0.00016. We hold this view because any chance of a bullish higher low setup was erased on May 22 when the pair broke 0.0001 support. Below 0.0001, the next firm support is 0.00008.

The strategy is to bottom fish the market and buy as close to 0.00008 as possible. If bulls preserve this support, they will inspire a rally back to resistance of 0.00016.

The process may take a month.

Daily Chart of WaBi/Bitcoin on Binance

As of this writing, the WaBi/Bitcoin pair is trading at 0.000099 on Binance.

Summary of Strategy

Buy: As close to 0.00008 as possible.

Target: 0.00016

Stop:  0.000075

 

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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3.7 stars on average, based on 168 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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