Trade Recommendation: NXT | Hacked: Hacking Finance
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Analysis

Trade Recommendation: NXT

Posted on .

Trade Recommendation: NXT

Introduction

This article was posted on Monday, 10:36, UTC.

Based on the 4H chart of NXT we see that market moves upward in the borders of the ascending channel. After reaching 0.180000 level, the price reversed and dropped to a support level. We can spot a good reversal zone formed by the trend line of the ascending channel and 0.125000 support level. If the market reaches this zone and bounces, it will be a good buy signal based on a reversal. But also we can entry the market based on a breakout signal.

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We have a bullish candle which should be used for placing pending orders for buy above the high. This variant will be better for entry because RSI already reversed in the oversold zone. It tells us that the market can start upward movement without reaching the trend line. In order to catch this price movement, we should trade based on the breakout signal and if the market drops to the reversal zone, we’ll just add some volume for our long positions. If you don’t use leverage, recommended trading volume for this trade is up to 3% from your deposit.

Buy: 0.142400
Stop: 0.119000
Profit Targets: 0.180000

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The trading signal is based on Poloniex chart.

Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



Feedback or Requests?

Dmitriy Lavrov

Dmitriy Lavrov

Dmitriy 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.

Comments
  • user

    AUTHOR Iulian

    Posted on 11:17 am August 7, 2017.

    What platform would you recommend for trading NXT ?

  • user

    AUTHOR gasdoc55

    Posted on 4:46 pm August 7, 2017.

    The price of NXT got pumped up to .18 leading up to the start of the IGNIS ICO. Since the ICO has thus far been a huge bust many holders have cried foul and run to the exchanges to offload their NXT. I almost offloaded my own for the same reason, but then I had the forethought to do the opposite of what everyone else was doing. I agree with you that NXT should take a bounce back up once everyone takes note of the fact that the ICO is still underway for a few months and they need their NXT back to get in.

  • user

    AUTHOR martijn7martijn

    Posted on 6:18 pm August 7, 2017.

    Why would you only put in 3% of your deposit when you don’t use leverage? Why not 10% or 20%? And why would you put in morge percentage when you actually use leverage? I look forward to your reply!

    • user

      AUTHOR martijn7martijn

      Posted on 6:19 pm August 7, 2017.

      more*

    • user

      AUTHOR Dmitriy Lavrov

      Posted on 8:11 pm August 7, 2017.

      Because we have many trading signals for different markets where we should invest 3-5% from deposits. If you trade only one market and without leverage – yes, you can invest 10-20% for 1 trade.

  • user

    AUTHOR martijn7martijn

    Posted on 10:05 pm August 7, 2017.

    Thank you very much for your fast answer Dmitriy. Currently I am considering to start trading in the bitcoin and several other altcoins. It takes a lot of time to analyse 15 different cryptocurrencies a day so I was thinking about splitting my deposit in 5 to 10 cryptocurrencies with a good entry zone and switching from currency to currency in about 7 days when the profit targets have been reached or nearly have been reached. Do you think this is a good stragegy of trading and investing? Or do you think that I should abroaden my view to gold, silver and copper and also invest in such markets? Or should I pick more cryptocurrencies or less to trade with? I’m really new in this sort of stuff so I would really like some advise from a professional like you 🙂 I will look forward to your reply again!

  • user

    AUTHOR Domtranslator

    Posted on 11:28 pm August 7, 2017.

    Hey Dmitry,

    Many thanks for this! In your previous post about NXT, you’ve mentioned ,18 and ,20 as profit targets. I see ,20 is not mentioned here – do you believe this is unlikely to move any further than ,18? If so, why?

  • View Comments (8) ...
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