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Trade Recommendation: USDJPY

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The market moves between 113.20 and 112.00 levels and now the price is at the support level. On the daily chart MACD gives a signal that we should expect further downward movement. On the 4H time frame we also get bearish signals from MACD and DMI. It’s sell opportunity and we can trade based on a breakout signal. Pending orders for sell should be placed below the support level at 111.95 and stop orders at 112.90 level. The main profit target is 11.00 support level. Don’t risk more than 3% from your deposit in this trade.

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Market: USDJPY
Sell: 111.95
Stop: 112.90
Profit Targets: 110.20

 

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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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Trade Recommendation: NZD/HKD

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The New Zealand Dollar/Hong Kong Dollar pair ignited its bull run on May 2009 when it took out resistance of 4.50. With a solid base below 4.50, the pair sustained a long uptrend that propelled it to as high as 6.89126 in August 2011. In just over two years, the New Zealand Dollar rose by 53% against the Hong Kong Dollar. Those who followed the trend started to take profits.

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As the market succumbed to selling pressure, it dropped to 5.7469 in November 2011. The pair worked hard to stay above 5.80 support while creating a series of higher lows to keep its uptrend alive. With all that effort, however, the market could only generate a lower high of 6.84868 in July 2014.

The price action was a signal that bulls were exhausted. Participants began to dump their positions to preserve their capital gains. The heavy selling pressure forced the pair to snap 5.80 support in May 2015. From that point, the market posted consecutive red candles on the monthly chart until it found the bottom at 4.71929 in August 2015. NZD/HKD has been rallying since, and it appears primed to start another uptrend.

Technical analysis show that the New Zealand Dollar/Hong Kong Dollar pair is poised to take out resistance of 5.80 and trigger the large cup and handle reversal pattern on the weekly chart. Looking at the RSI, the pair is far from overbought territory. It has a lot of room complete the breakout and stay above 5.80.

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The strategy is to buy the breakout at 5.80. If bulls complete the breakout, they will likely create a base and may crawl to our target of 6.75. The process may take a year.

Weekly Chart of NZD/HKD on OANDA

As of this writing, the NZD/HKD pair is trading at 5.65688.

Summary of Strategy

Buy: Breakout at 5.80.

Target: 6.75

Stop: 5.65 after the breakout.

 

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 149 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: QTUM

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QTUM could be ready for a quantum leap to the upside. On the QTUMBTC daily chart we see the price has surpassed and closed above the Monthly Pivot Range high, this is a significant event in that it demonstrates the bias has shifted from the many weeks of bearishness, to one of bullishness.

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The 14 Day Pivot Moving Average (red line) has crossed the yellow 30 Day Pivot MA and the white 50 Day Pivot MA so this is clearly bullish . There are no other key Pivot levels that are in the way of a long term move up.

The action to take is to place a buy order to enter the market long. The support level near term should be the Monthly Pivot high but look for longer term support all the way down to the Monthly Pivot low. This is a long term trade so be patient by placing your stop loss far enough away to avoid getting prematurely stopped out.

This is a good risk reward ratio within a high probability setup with a lot of support.

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Entry Price: 22.00
Stop Loss: 19.90
Profit Targets: First profit target 27.88. Second profit target 34.90. Once price reaches 25.50 raise the stop loss to breakeven. Then if the market follows through to higher levels manage the trade by trailing a stop loss 2.00 points behind until second profit target is reached or stopped out.

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.

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3.8 stars on average, based on 44 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: DASH

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DASH is ready to make a longer term dash to the upside again. On the daily chart we see the price has surpassed and is about to close above the Monthly Pivot Range high, this is a significant event in that it demonstrates the bias has shifted from the many weeks of bearishness, to one of bullishness.

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Also considering the 14 Day Pivot Moving Average (red line) has crossed the yellow 30 Day Pivot MA this is clearly bullish . There are no other key Pivot levels that are in the way of a long term move up.

The action to take is to place a buy order to enter the market long. The support level near term should be the Monthly Pivot high but look for longer term support all the way down to the Monthly Pivot low. This is a long term trade so be patient by placing your stop loss far enough away to avoid getting prematurely stopped out.

Entry Price: 462.50
Stop Loss: 359.00
Profit Targets: First profit target 615.00. Second profit target is 710.00. Once the market reaches 510.00 bring the stop loss to breakeven (entry level); then manage the trade further by using a trailing stop loss 50.00 points behind as the market runs higher.

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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.

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2 votes, average: 4.50 out of 52 votes, average: 4.50 out of 52 votes, average: 4.50 out of 52 votes, average: 4.50 out of 52 votes, average: 4.50 out of 5 (2 votes, average: 4.50 out of 5)
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3.8 stars on average, based on 44 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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