Connect with us

Recommendations

Trade Recommendation: Request Network/Ethereum

Published

on

Based on its chart, the Request Network/Ethereum (REQ/ETH) pair appeared to have an initial coin offering price of 0.0012. Unfortunately for participants who bought the ICO the market closed at 0.00016986 on its first day of trading; October 27, 2017. That’s an astounding 85.85% loss in one day!

// -- Discuss and ask questions in our community on Workplace.

After losing so much of its value, the market consolidated and established support of 0.000115 on November 2. It came back to life on December 13 after breaching resistance of 0.0003. The momentum of the breakout was so strong that the pair went as high as 0.00119798 on January 1, 2018. As the market has grown by over 941%, bottom pickers and breakout buyers exploited the opportunity to take profits. Consequently, the market significantly pulled back, but this can be your opportunity to enter at an early stage of a possible bull run.    

Technical analysis show that Request Network/Ethereum is currently creating a bullish higher low setup at 0.0003 support. It seems that bulls intend to defend this level, which can be seen historically when the volume spikes at the 0.0003 price level. In addition, volume has been thin for the last eight trading days. This suggests that sellers are running out of ammo.

The strategy is to buy as close to 0.0003 support as possible. If the market respects the higher low, it will likely head to our target of 0.0012. This may take a month.

// -- Become a yearly Platinum Member and save 69 USD. Click here to change your current membership -- //

Daily Chart of Request Network/Ethereum on Binance

As of this writing, the Request Network/Ethereum pair is trading at 0.000334 on Binance.

Summary of Strategy

Buy: As close to 0.0003 as possible.

Target: 0.0012

Stop:  0.00027

 

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.
2 votes, average: 4.00 out of 52 votes, average: 4.00 out of 52 votes, average: 4.00 out of 52 votes, average: 4.00 out of 52 votes, average: 4.00 out of 5 (2 votes, average: 4.00 out of 5)
You need to be a registered member to rate this.
Loading...

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.




Feedback or Requests?

Recommendations

Trade Recommendation: VeChain

Published

on

Vechain is continuing to hold support at the Daily Pivot Range with the short term bias to the buy side. VENBTC does have some serious resistance nearby at the Monthly Pivot Range low which will have to be overcome if this trade setup will pan out and follow through to our profit targets.

// -- Discuss and ask questions in our community on Workplace.

Fortunately we have the ‘A’ up line in close proximity that will give us the confirmation necessary to take a long position above this Monthly Pivot resistance. There is plenty of support nearby at the Weekly Pivot Range and 6 Day Rolling Pivot Range.

The Daily Pivot Moving Averages are also looking good with a bullish direction 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 Weekly Pivot Range low and the profit targets as stated.

// -- Become a yearly Platinum Member and save 69 USD. Click here to change your current membership -- //

If the trade signal is not triggered by end of the session, cancel the orders.

Entry Price: 0.0004777
Stop Loss: 0.0004600
Profit Targets: First profit target 0.0004960. Second profit target 0.0005030. 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.

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.
0 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 5 (0 votes, average: 0.00 out of 5)
You need to be a registered member to rate this.
Loading...

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.




Feedback or Requests?

Continue Reading

Recommendations

Trade Recommendation: Binance Coin

Published

on

The bias has shifted to the buy side with the price staying steady and now pushing off the support of the Daily Pivot Range. BNBBTC looks like it could set up to go higher if it can show price confirmation above the ‘A’ up line. The recent swing high is a good price level to be above for the confirmation, which is where the ‘A’  up line is currently.

// -- Discuss and ask questions in our community on Workplace.

The Daily Pivot Moving Averages are also turned up in sync which is a bullish sign.

So 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 swing low which is also below the Weekly Pivot Range high. Cancel this signal, if not triggered, at end of the session.

Entry Price: 0.0026453
Stop Loss: 0.0023380
Profit Targets: First profit target 0.0030950. Second profit target 0.0031700. Once price reaches first profit target bring stop loss to breakeven (entry point).

// -- Become a yearly Platinum Member and save 69 USD. Click here to change your current membership -- //

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.

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.
0 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 5 (0 votes, average: 0.00 out of 5)
You need to be a registered member to rate this.
Loading...

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.




Feedback or Requests?

Continue Reading

Recommendations

Trade Recommendation: Gold/SGD

Published

on

The Gold/Singapore Dollar pair (XAU/SGD) started its downtrend in February 2013 when it broke below support of 2,000. This triggered the rounding top reversal pattern on the monthly chart. The breakdown generated a series of lower highs and lower lows until the pair bottomed out at 1,467.196 in November 2014. In almost two years, Gold lost over 26% of its value against the Singapore Dollar.

// -- Discuss and ask questions in our community on Workplace.

At this price point, XAU/SGD flashed reversal signals. First, a bullish divergence was spotted on the monthly RSI. Next, the 4-day, 8-day, and 21-day moving averages were all detached from the monthly candle. These indicators suggested that the pair was due for a strong rally.

In July 2016, XAU/SGD climbed as high as 1,860.728. While bears managed to repel the advance, bulls responded by generating a higher low of 1,622.070 in December 2016. The pair has been flashing bullish signals since. This could be your chance to buy the next higher low.

Technical analysis reveal that the Gold/Singapore Dollar pair is creating a large symmetrical triangle pattern on the monthly chart. This view comes after it posted a lower high of 1,786.484 in April 2018. It is currently in the midst of an E-wave, which is usually the last leg down. If the market manages to stay above the 1,700 support, another higher low would be in place and that should confirm the pattern.

// -- Become a yearly Platinum Member and save 69 USD. Click here to change your current membership -- //

The strategy is to buy as close to 1,700 as possible. As long as bulls stay above this level, they will attract the momentum required to breakout of the triangle formation and ascend to our target of 2,000.

The process may take more than six months.

Monthly Chart of Gold/Singapore Dollar on OANDA

As of this writing, the Gold/Singapore Dollar pair (XAU/SGD) is trading at 1,729.109 on OANDA.

Summary of Strategy

Buy: As close to 1,700 as possible.

Target: 2,000

Stop: Close below 1,673.

 

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.
0 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 5 (0 votes, average: 0.00 out of 5)
You need to be a registered member to rate this.
Loading...

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.




Feedback or Requests?

Continue Reading

12 of 15 Seats Available

Learn more here.

Recent Comments

Recent Posts

A part of CCN

Hacked.com is Neutral and Unbiased

Hacked.com and its team members have pledged to reject any form of advertisement or sponsorships from 3rd parties. We will always be neutral and we strive towards a fully unbiased view on all topics. Whenever an author has a conflicting interest, that should be clearly stated in the post itself with a disclaimer. If you suspect that one of our team members are biased, please notify me immediately at jonas.borchgrevink(at)hacked.com.

Trending