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Trade Recommendation: Monero

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This trading idea is based on a possible price reversal from the support level. RSI is at the oversold zone and it confirms the price reversal. MACD histogram supports upward movement. We should be ready to entry the market if it moves higher. Pending orders for buy can be placed at 331.00 level with stop orders at 285.00 level. Profit targets are 400.00 and 480.00 resistance levels. Based on the daily chart, the market has free space below the current price for further downward movement. Use stop orders and small trade volume. If you don’t use leverage, trading volume for this trade is up to 5% from your deposit.

Market: XMRUSDT
Buy: 331.00
Stop: 285.00
Profit Targets: 400.00 and 480.00

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

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. ggonzaga

    December 31, 2017 at 4:04 pm

    So the stop order at 285.00 USD means that the order will only start when the price of XMR/USDT goes down to 285.00, and will buy in when it goes back up to 331.00 USD?

  2. spacemanG

    December 31, 2017 at 5:47 pm

    no the stop protects you agains losses – put a limit orderer on for 331 – then a stop on 285 once the but kicks in on 331 – then cash out once you hit the profit target

  3. tk24a

    January 1, 2018 at 5:43 pm

    Same thing.
    Google “stop loss order” and you will gain an understanding of what’s happening.
    (No point someone giving you specific instructions to do something that you have no understanding of).

    Cheers,
    T

    • ggonzaga

      January 1, 2018 at 8:24 pm

      Thanks for the reply. I did some digging.
      So basically in this case, you buy at 331.00 and then hope to go all the way to the profit targets. But the stop loss order is set at 285.00 so that if the price goes down instead of up, the coin will be put on a sell order when it hits 285.00 USD to sell on the next available price (is this accurate or does it only apply to stocks?). However, a stop-limit order, unlike a stop-loss order, would open a sell order at 285.00 but only sell at a specified number that the coin has to hit after reaching the 285.00. I understand now. So the stop in this trade recommendation pretty much states that the risk of the price dropping instead of increasing is there, and it’s better off to lose 14% of your investment (if my math is right) by placing a stop-loss order at 285.00 than for it to drop way below the stop. Is this correct?

      Also, can’t a stop-loss order be used in other scenarios?
      For example:
      1. If I want to buy XMR when it hits 331.00 and it’s below that, can’t I just place a stop-limit order to open a buy order at 330.00 and the limit at 331.00?
      2. If I want to cash out my XMR when it hits 400.00 and it’s above the 331.00 that I hypothetically purchased it at, can’t I just place a stop-limit order to open a sell order at 399.00 and the limit at 400.00 which is the profit target?

      Or would those two scenarios be what you would just use a limit order for, which from my understanding is an order to buy/sell at a certain price? In that case, what’s the benefit of a stop-limit order to protect you from losses if you can just place a limit order to sell at 285.00?

      Thanks
      Happy New Year!

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Trade Recommendation: GBP/NZD

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The British Pound/New Zealand Dollar pair (GBP/NZD) has been in a downtrend since May 2009 when it broke below support of 2.60. This triggered the double top reversal pattern on the monthly chart. The breakout from the bearish pattern inspired a selling frenzy. The pair then generated a series of lower highs and lower lows until it showed some signs of stability at 1.62266 in October 2016. In over seven years, the British Pound lost more than 60% of its value against the New Zealand Dollar.

At this price level, GBP/NZD flashed reversal signals. First, the monthly candle was a hammer. This suggested the presence of buyers below 1.70. Second, the pair was in extreme oversold conditions on the weekly chart. Lastly, there was an exponential increase in volume when the pair dropped to this level.

With the pair showing bullish signs, more and more bottom pickers entered the buying scene. GBP/NZD rallied to as high as 1.89631 in May 2017. While bears managed to resist the advance, bulls eventually claimed the territory.

Technical analysis reveal that the British Pound/New Zealand Dollar pair has taken out resistance of 1.90. This triggered the cup and handle reversal structure on the weekly chart. The breakout was affirmed by a strong rally to 1.98396 in December 2017. The market has been consolidating since. This is your chance to buy the breakout.

The strategy is to buy as close to 1.90 as possible. As long as bulls stay above this support, they have all the momentum they need to rally to our target of 2.10.

The process may take more than three months.

Weekly Chart of British Pound/New Zealand Dollar on OANDA

As of this writing, the British Pound/New Zealand Dollar pair (GBP/NZD) is trading at 1.91059 on OANDA.

Summary of Strategy

Buy: As close to 1.90 as possible.

Target: 2.10

Stop: Close below 1.89.

 

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 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.




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Trade Recommendation: district0x

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Our April 14, 2018 trade recommendation for the district0x/Bitcoin (DNT/BTC) pair hit the target on April 22 when it went as high as 0.00002304. Those who followed the trade recommendation grew their investments by at least 50% in about a week.

The trade recommendation also emphasized to sell immediately once the target is hit. It was evident that the pair was not yet ready to launch another bull run. As predicted, DNT/BTC broke below 0.00001 support on May 21. This triggered a waterfall event that saw the pair drop to as low as 0.0000058 on June 13. The good news is the pair appears to be ready for a bounce.

Technical analysis reveal that district0x/Bitcoin may be bottoming out at 0.000006 support. This view comes after the pair broke below this level on June 13 but bulls swooped in to take back the support. Also, a long hidden bullish divergence can be seen on the daily chart. This indicates underlying strength. Lastly, the pair is still near oversold conditions.

The strategy is to buy as close to 0.000006 support as possible. If bulls can carve a bottom here, they will attract the momentum they need to move to our target of 0.00001.

The process may take less than a month.

Daily Chart of district0x/Bitcoin on Binance

As of this writing, the district0x/Bitcoin pair is trading at 0.00000635 on Binance.

Summary of Strategy

Buy: As close to 0.000006 as possible.

Target: 0.00001

Stop: 0.0000058

 

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 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.




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Trade Recommendation: Litecoin

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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.

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.

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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.




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