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Trade Recommendation: GBPUSD

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The trading idea is based on a trend reversal. The price bounced from 1.34500 resistance level. RSI confirmed price reversal. The bearish divergence gives a solid trend reversal signal. MACD histogram supports downward movement. DMI allows opening short trades. The higher time frame also looks bearish and it gives us an additional signal for sell. We can place pending orders below the uptrend line at 1.34200 level. Stop orders must be placed at 1.34600 level. Profit targets should be 1.33500 and 1.33000 support levels. Don’t risk more than 3% from your deposit in this trade.

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Market: GBPUSD
Sell: 1.34200
Stop: 1.34600
Profit Targets: 1.33500 and 1.33000

Disclaimer: The analyst does not have investments in GBPUSD.

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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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Trade Recommendation: Bela

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Bela’s bullish run came to a screeching halt less than a week after the Bela/Bitcoin pair generated an all-time high of 0.00018 on April 8. The market registered a lower high of 0.00016405 on April 14. Since then, Bela tumbled as it struggled to defend key levels such as 0.00007 and 0.00004.

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The market finally established support at 0.000009 on December 7. From Bela’s all-time high, the market lost 95% of its value in about eight months. While that’s an astronomical loss in value, it gives new investors an opportunity to buy the bottom, which limits risks and offers significant rewards.

Technical analysis reveal that 0.000009 is the bottom, as the market was able to generate a true bounce at this level. The pair went from 0.000009 to 0.00003975 in about a month – a 341.67% increase in value. With such a rapid climb, it’s only healthy for the market to retreat. This is a good opportunity for you to enter, and buy cheap.

The strategy is to buy as close to 0.000025 support as possible. The pullback is only temporary. Once the selling is over, the market will attempt to breach resistance at 0.00004. Take out that level and we have a target of 0.00007.   

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Daily Chart of Bela/Bitcoin on Poloniex

As of this writing, the Bela/Bitcoin pair is trading at 0.00002716 on Poloniex.

 

 

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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Trade Recommendation: Stellar

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The price is at 0.50 support level. The reversal candlestick pattern gives a signal that the price can bounce from this support. RSI drops to the oversold zone and it can support the possible price reversal. The double bottom chart pattern also tells us about a trend reversal. MACD and DMI confirm further downward movement. Presently, we have weak signals for opening long positions. If you can take high risk, the current price is very good for buying. Entry level is 0.52 with stop orders at 0.40 level. Profit targets are 0.70 and 0.90 resistance levels. If you would like to get more solid signals confirming the price reversal and further upward movement, it’s better to wait for a breakout above the downtrend line and as additional signal, a breakout above the high of the double bottom pattern. Don’t forget that the markets are not stable now and they can drop lower. Stellar can reach the next support at 0.30 level. That’s why using stop-loss orders and proper risk management is strong recommended.

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Market: STRUSDT
Buy: 0.52
Stop: 0.40
Profit Targets: 0.70 and 0.90

The trading signal is based on Poloniex chart.
Disclaimer: The analyst does not have investments in Stellar.

// -- Become a yearly Platinum Member and save 69 USD and get access to our secret group on Workplace. Click here to change your current membership -- //
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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Trade Recommendation: Ethereum Classic

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The daily chart gives us a bullish signal. If we look at the 4H chart, we can see a fail attempt to break SMA100 and the strong resistance level. The market formed a new swing high which can be used for placing pending orders for buy. If the price can move above this level, we’ll get a trend reversal signal and a new buy opportunity. Long trades will be opened in the same direction as the main movement on the higher time frame. Entry level is 0.035300 with stop orders at 0.029500 level. Profit targets are 0.042000 for short term and 0.050000 for long term trades. If you don’t use leverage, trading volume for this trade is up to 10% from your deposit.

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Market: ETCETH
Buy: 0.035300
Stop: 0.029500
Profit Targets: 0.042000 and 0.050000

The trading signal is based on Poloniex chart.
Disclaimer: The analyst does not have investments in Ethereum Classic.

// -- Become a yearly Platinum Member and save 69 USD and get access to our secret group on Workplace. Click here to change your current membership -- //
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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