Connect with us

Recommendations

Trade Recommendation: USDJPY

Published

on

This trade recommendation is setting up quickly and requires prompt attention.

The bias remains to the upside for the short term with the price trading above the Daily Pivot Range (blue dots), therefore this level is key support.

With this bias to the upside our ‘A’ up value line is our first entry point for the day.

The 14 Day Pivot Moving Average (red) is turning up, and crossing the 30 Day Pivot Moving Average (yellow) and this is bullish.

The action to take is to enter and go long if the price trades at or above 109.27 for at least 15 minutes. Use a shorter term chart like 5 minutes to confirm this. Once, this rule has been met use discretion to get as close to 109.27 as possible. Sometimes the price may rally quickly from this level so be careful not to buy on a spike, so if the price has moved to far, look for a retracement for a better entry.

Place the stop loss at the Opening Range low of 109.088 and the profit targets as stated below.

Note: If triggered, look for the trade to play out over a period of 24-36 hours and if no significant move after 3 hours, exit the trade.

Entry Price: 109.27
Stop Loss: 109.088
Profit Targets: First profit target 109.69. Once first profit target is reached, bring stop loss to breakeven, then trail a stop loss on remaining position 15-20 pips behind to safeguard profits.

Disclaimer: The writer has no positions in the forex markets but does engage in short-term trading of forex and futures.

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.
4 votes, average: 3.75 out of 54 votes, average: 3.75 out of 54 votes, average: 3.75 out of 54 votes, average: 3.75 out of 54 votes, average: 3.75 out of 5 (4 votes, average: 3.75 out of 5)
You need to be a registered member to rate this.
Loading...

3.7 stars on average, based on 78 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?

Recommendations

Trade Recommendation: Bitcoin

Published

on

Bitcoin (BTC/USD) has been on a freefall since July 24, 2018 when its dead cat bounce came to an abrupt end at a price level of $8,496.96. The “smart money” used the rally to dump positions. Even support of $7,400 could not halt the skid. By August 14, BTC was trading below $6,000 and gloom and doom forecasts of a drop to $4,000 once again dominated the conversation.

Just as the calls to short the largest cryptocurrency were becoming louder, the market rallied to $6,628.50 on August 15, obliterating many short positions in the process. It’s not easy to trade Bitcoin, but if you look closer, you can see that there’s a method to the madness. 

Technical analysis show that BTC/USD is about to break out of an inverse head and shoulders pattern on the hourly chart. This is the same pattern that Bitcoin used to spark a rally on July 18, 2018. If you’re looking for a reversal, this pattern should be your primary candidate.

The strategy is to buy the breakout at $6,600 as long as the market generates volume of 500 Bitcoin units on the hourly chart. So far, the $6,600 resistance is proving to be one tough nut to crack. Bitcoin needs heavy volume to help push the price above the resistance.

Once BTC/USD takes out $6.600, it can quickly climb to our target of $7,400. Sell immediately. This might be another pump and dump rally.

The process may take less than a month.

Hourly Chart of Bitcoin/US Dollar on Bitstamp

As of this writing, the BTC/USD pair is trading at $6,351.01 on Bitstamp.

Summary of Strategy

Buy: Breakout at $6,600 with volume of 500 BTC.

Target: $7,400

Stop: $6,500 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.

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: 3.50 out of 52 votes, average: 3.50 out of 52 votes, average: 3.50 out of 52 votes, average: 3.50 out of 52 votes, average: 3.50 out of 5 (2 votes, average: 3.50 out of 5)
You need to be a registered member to rate this.
Loading...

3.6 stars on average, based on 224 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

Recommendations

Trade Recommendation: TRON/Ethereum

Published

on

After days of heavy selling, the cryptomarkets are starting to show signs of life. It appears that bears are running out of ammunition just as many altcoins are about to hit long-term support levels. One of those altcoins is TRON/Ethereum (TRX/ETH).

Technical analysis show that TRX/ETH is at the tail end of its corrective period. The falling wedge on the daily chart is about to touch the apex. At the same time, TRX/ETH is hovering above a trendline that’s been keeping the pair’s long-term uptrend alive. We expect demand to surge as the price comes close to this support. Add that to the narrowing trading range and we have the ideal conditions to spark a rally.

Adding fuel to the fire is the daily RSI where we can see a bullish divergence. More importantly, the RSI seems to be creating a broadening wedge pattern. If the support holds, then the next stop of the RSI might be close to oversold territory. This tells us that bulls are brewing a powerful rally.

The strategy is to buy the breakout at 0.000072 after the pair prints volume of more than 110 million TRON units. Even though bears are exhausted, they will do their best to keep market control. TRX/ETH needs buyers to absorb the selling pressure.

Once breakout is complete, the ensuing rally would likely take the pair to our target of 0.0001.

The process may take less than one month.

Daily Chart of TRON/Ethereum on Binance

As of this writing, the TRON/Ethereum pair is trading at 0.00007136 on Binance.

Summary of Strategy

Buy: Breakout at 0.000072 with volume of 110 million TRON units.

Target: 0.0001

Stop:  0.00007 after 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.

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...

3.6 stars on average, based on 224 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

Recommendations

Trade Recommendation: Lisk

Published

on

Lisk/Bitcoin (LSK/BTC) has been brutally clobbered this year. The pair lost around 90% of its value from the high of 0.003398 on February 10, 2018. The good news is that bulls have had it. They are taking no more. Recent price action shows their conviction.

Technical analysis reveal that LSK/BTC has broken out of a long falling wedge pattern on the daily chart. The breakout looks convincing because of the reasons below.

First, the pair generated above average volume in the last four days. This is a good sign that bulls are buying the market. In fact, the last time LSK/BTC printed such heavy volume was back in April 2018.

On top of that, LSK/BTC has also broken out of a falling wedge on the daily RSI. The breakout looks legitimate as it was a sharp rally rather than a quick peek. In addition, we see a large bullish divergence on the MACD as well as a bullish cross.  All these signals indicate that LSK/BTC has returned from the dead.

The strategy is to buy the retest of the breakout as close to 0.00048 as possible. If bulls defend this level, it is very likely that there will be a quick rally to our initial target of 0.0007. We’ll revisit the trade once the target is hit.

The process may take less than a month.

Daily Chart of Lisk/Bitcoin on Poloniex

As of this writing, the Lisk/Bitcoin pair is trading at 0.00052094 on Poloniex.

Summary of Strategy

Buy: Buy as close to 0.00048 as possible.

Target: 0.0007

Stop: 0.00046

 

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.
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...

3.6 stars on average, based on 224 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

5 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