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Trade Recommendation: NZDJPY

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Japan, US stocks

The price diverges with MACD and RSI and it gives us a trend reversal signal. RSI confirms price reversal from 77.60 support level. MACD lines support upward movement. DMI allows opening long trades. Pending orders for buy should be placed at 78.35 level. Stop orders must be ar 77.50 level. The main profit target is 79.30 level. The other part of long positions can be closed at 81.00 level. Don’t risk more than 3% from your deposit in this trade.

Market: NZDJPY
Buy: 78.35
Stop: 77.50
Profit Targets: 79.30 and 81.00

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 Comment

1 Comment

  1. Taruntrikha

    November 8, 2017 at 5:23 am

    Hi
    Just became a member recently. Where can I get access to the daily trade recomendations. All these articles available are one week old. If we follow them the period would have most likely passed. Need to get the latest recomendations on a daily basis. Thanks
    Tarun

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Trade Recommendation: Litecoin/Ethereum

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The Litecoin/Ethereum pair (LTC/ETH) confirmed its bearishness on April 7, 2018 when it failed to take out resistance of 0.30. This was a clear signal to market participants that the market is not yet ready to launch a bull run. The false break of the resistance triggered many stop losses. This sparked a bear run that saw the pair drop to 0.1682 on July 9.

The good news is LTC/ETH has quietly rallied and seems to be stepping out of bear country.

Technical analysis show that Litecoin/Ethereum has broken out of a large descending triangle pattern on the daily chart. This structure usually has a bearish bias. However, the preservation of the 0.166 support and the breach of the resistance that has stood for seven months tell us that the market is bullish.

In addition, technical indicators are showing bullish signals. The 4-day, 8-day, and 21-day moving averages acted as resistances during the recently concluded bear run. Currently, the moving averages are below the daily candle’s body and are acting as immediate support levels.

Furthermore, the daily MACD is flashing a bullish divergence and a bullish cross. This suggests that the market is gaining strength.

The strategy is to buy as close to 0.18 as possible. If bulls get to stay above this level, they are likely to inspire a rally to our initial target of 0.25. Take that out and the next target is 0.30.

The process may take more than a month.

Daily Chart of Litecoin/Ethereum on Bitfinex

As of this writing, the LTC/ETH pair is trading at 0.18316916 on Bitfinex.

Summary of Strategy

Buy: As close to 0.18 as possible.

Target: 0.25 first and then 0.30.

Stop: 0.175

 

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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3.6 stars on average, based on 201 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: ICON

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The ICON/Bitcoin pair (ICX/BTC) has looked bearish since February 3, 2018 when it took out support of 0.0006. This triggered the double top pattern on the daily chart. The breakout forced those who bought above 0.00006 to cut their losses. This started a bear run that has driven the market to as low as 0.0002041 on July 12.

The good news is the market appears to show signs of reversal. We have technicals to support our claim.

Technical analysis show that ICON/Bitcoin is on the verge of breaking out of a large falling wedge pattern. The pair has a bullish bias for the following reasons.

First, all notable support and resistance levels are converging at key support of 0.00021. Bulls have preserved this level since the second half of December 2017. Technical indicators show that they are likely to defend it again.

We have the daily RSI respecting support of 28. Even though it has yet to break out of the resistance, the fact that it is near oversold levels tells us that a breach of the resistance is very likely.

In addition, the daily MACD is showing a bullish cross. This suggests that the market is starting to show signs of strength.

The strategy is to buy as close to 0.00021 support as possible. If the market manages to stay above this level, bulls will inspire a rally to our initial target of 0.00036. Take that out and the market can climb to 0.00045.

The process may take more than a month.

Daily Chart of ICON/Bitcoin on Binance


As of this writing, the ICX/BTC pair is trading at 0.0002167 on Binance.

Summary of Strategy

Buy: As close to 0.00021 as possible.

Target: 0.00036 first and then 0.00045.

Stop: 0.0002

 

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.

Rate this post:

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3.6 stars on average, based on 201 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: TRON

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TRON/Bitcoin (TRX/BTC) looked bearish on June 1, 2018 when it took out support of 0.000008. This activated the double top pattern on the daily chart. The price action triggered numerous stop losses. Consequently, the pair plummeted to as low as 0.00000509 on July 10.

While the pair shed over 36% of its value in a month, it appears that the market is bound for a strong rally. This can be very profitable. We have technicals to support our view.

Technical analysis show that TRON/Bitcoin has broken out of a falling wedge pattern on the daily chart. This breakout is accompanied by multiple bullish signals.

First, we can see the daily RSI break out from its month long resistance that has kept the market bearish. This hints that TRX/BTC is gaining momentum. To affirm that view, we can see a bullish cross on the daily MACD.

Furthermore, the 4-day, 8-day, and 21-day moving averages are reversing their direction. All of these are happening while the Bollinger Bands are contracting. With 0.000005 support holding, we can expect an upward price movement very soon.

The strategy is to buy as close to 0.000005 as possible. As long as bulls hold this support, they have all the momentum they need to climb to our initial target of 0.000007.

The process can take more than a month.

Daily Chart of TRON/Bitcoin on Binance

As of this writing, the TRON/Bitcoin pair is trading at 0.00000548 on Binance.

Summary of Strategy

Buy: As close to 0.000005 as possible.

Target: 0.000007

Stop: 0.00000485

 

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.

Rate this post:

Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way.
1 vote, average: 1.00 out of 51 vote, average: 1.00 out of 51 vote, average: 1.00 out of 51 vote, average: 1.00 out of 51 vote, average: 1.00 out of 5 (1 votes, average: 1.00 out of 5)
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3.6 stars on average, based on 201 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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