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Trade Recommendation: Litecoin

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This is a short term trade. The trading idea is based on a breakout above the resistance zone formed by SMA100 and 200.00 resistance level. If the price breaks this zone, we’ll get a signal confirming further upward movement. Entry level should be at 202.00 with stop orders at 182.00 level. Profit targets are 220.00 and 240.00 resistance levels. If the price breaks the uptrend line and buy orders are not activated, you should delete them and wait for new trading opportunities. If you don’t use leverage, trading volume for this trade is up to 10% from your deposit.

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Market: LTCUSDT
Buy: 202.00
Stop: 182.00
Profit Targets: 220.00 and 240.00

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

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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: Lisk

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This is a longer term buy trade. LSKBTC is in a nice uptrend coming off the recent 10 day retracement of the bounce from the bear market since February. The market seems to have more left in this move to the upside.

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Expect strong resistance at the Monthly Pivot Range high. However, once we can get above this level, this could be a good buy trade for the longer term. Be patient, as it may take many days for the market to be convicted to go higher off the Monthly Pivot high resistance.

Another good sign is the Daily Pivot Moving Averages are flattening out which is a good indication the momentum is preparing to shift direction.

So, the action to take is to buy when the market closes above the Monthly Pivot Range high on the Daily chart. We should be confident in the support level of the Monthly Pivot Range low which would be a good place for the stop loss.

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Entry Price: 0.0013684
Stop Loss: 0.0012386
Profit Targets: First profit target 0.0015675. Second profit target 0.0019400. Once price reaches the first profit target raise the stop loss to breakeven. Then if the market follows through to higher levels manage the trade by trailing a stop loss .0000750 points behind until second profit target is reached or stopped out.

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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4 stars on average, based on 56 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: DKK/INR

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The Danish Krone/Indian Rupee pair (DKK/INR) started its uptrend in April 2011 when it took out resistance of 8.50. This triggered the cup and handle reversal pattern on the daily chart. The breakout attracted trend followers and momentum traders. They helped push the pair to as high as 12.3755 in August 2013. In two years, the Danish Krone rose by over 45% against the India Rupee.

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At this price level, the pair was in extreme overbought territory. Those who followed the trend took it as a signal to take profits. The selling drove the pair to 11.0592 in October 2013. While bottom pickers bought the dip, they could only attract enough momentum to rally to 11.6284 in January 2014.

The lower high killed the market’s bullish sentiment. The pair then broke support of 10.40 in December 2014. The break below the support triggered a selling frenzy as it activated the rounding top reversal pattern on the weekly chart. As a result, DKK/INR nosedived to as low as 8.8039 in April 2015.

At this price point, the target of the rounding top pattern has been hit. This attracted bottom pickers and the buying activity they inspired has enabled the market to rally. In fact, DKK/INR has managed to jumpstart another bull run.

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Technical analysis show that the Danish Krone/Indian Rupee pair has taken out resistance of 10.40 in January 2018. This triggered the double bottom reversal pattern on the weekly chart. The breakout has lifted the pair to as high as 10.9716 in April 2018. However, the market has been correcting since. This is your chance to buy near the breakout point.

The strategy is to buy as close to 10.40 as possible. As long as bulls preserve this level, they have all the momentum they need to climb to our target of 11.60.

The process may take more than six months.

Weekly Chart of DKK/INR

As of this writing, the Danish Krone/Indian Rupee pair is trading at 10.7465.

Summary of Strategy

Buy: Buy on dip as close to 10.40 as possible.

Target: 11.60

Stop: 10.20

 

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 167 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: WAVES/BTC

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Our April 10, 2018 trade recommendation for the Waves/Bitcoin pair (WAVES/BTC) achieved its target on April 28 when it went as high as 0.00073. Those who followed the trade recommendation grew their investments by over 37% in two weeks.

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While we expected the pair to range trade, WAVES/BTC is showing signs of strength by overshooting our target and climbing as high as 0.0008996 on April 29. In addition, it appears to be creating a bullish higher low set up around the 38.2% Fibonacci level.

Interestingly, this pullback is happening with decreasing volume. This tells us that those who bought the bottom are not dumping all of their positions. This is positive news because constricting supply increases demand. Under these conditions, we can expect the market to surge in the next few days.

Technical analysis show that Waves/Bitcoin is positioning to take out resistance of 0.0008. This would trigger the inverse head and shoulders reversal pattern on the daily chart.

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To complete the breakout, the pair must generate at least 3.1 million units of Waves in volume. Those who bought the higher low are likely to take some profits at the resistance. The market needs buyers to absorb the selling pressure.

The strategy is to buy the breakout at 0.0008 as long as the volume requirement is met. Once bulls complete the breakout, the pair may explode to our target of 0.0011. The process can take a month.

Daily Chart of WAVES/BTC on Binance

As of this writing, the Waves/Bitcoin pair is trading at 0.0007206 on Binance.

Summary of Strategy

Buy: Breakout at 0.0008 as long as the volume is 3.1 million units of Waves.

Target: 0.0011

Stop: 0.00075 after the breakout.

 

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 167 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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