Connect with us

Recommendations

Trade Recommendations Update, June 9th

Published

on

Gold: Long-Term Buy (Update)

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

Gold, 4-Hour Chart Analysis

Gold got hit hard yesterday afternoon, just before the hearing of ex-FBI Director Comey (some would say in a slightly suspicious way) after a strong period that carried the commodity just below the $1300 level. Gold got close to our initial long-term target, and it remains on long-term buy signal despite the current correction. Short-term traders might exit their positions and take profits now (our entry point was $1229), as gold penetrated the prior swing low and it’s possibly entering a consolidation period. The stop-loss for our long-term trade remains at $1244.

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...

4.5 stars on average, based on 228 rated postsTrader and financial analyst, with 10 years of experience in the field. An expert in technical analysis and risk management, but also an avid practitioner of value investment and passive strategies, with a passion towards anything that is connected to the market.




Feedback or Requests?

Recommendations

Trade Recommendation: NZD/HKD

Published

on

The New Zealand Dollar/Hong Kong Dollar pair ignited its bull run on May 2009 when it took out resistance of 4.50. With a solid base below 4.50, the pair sustained a long uptrend that propelled it to as high as 6.89126 in August 2011. In just over two years, the New Zealand Dollar rose by 53% against the Hong Kong Dollar. Those who followed the trend started to take profits.

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

As the market succumbed to selling pressure, it dropped to 5.7469 in November 2011. The pair worked hard to stay above 5.80 support while creating a series of higher lows to keep its uptrend alive. With all that effort, however, the market could only generate a lower high of 6.84868 in July 2014.

The price action was a signal that bulls were exhausted. Participants began to dump their positions to preserve their capital gains. The heavy selling pressure forced the pair to snap 5.80 support in May 2015. From that point, the market posted consecutive red candles on the monthly chart until it found the bottom at 4.71929 in August 2015. NZD/HKD has been rallying since, and it appears primed to start another uptrend.

Technical analysis show that the New Zealand Dollar/Hong Kong Dollar pair is poised to take out resistance of 5.80 and trigger the large cup and handle reversal pattern on the weekly chart. Looking at the RSI, the pair is far from overbought territory. It has a lot of room complete the breakout and stay above 5.80.

// -- Become a yearly Platinum Member and save 69 USD and get access to our secret group on Workplace. Click here to change your current membership -- //

The strategy is to buy the breakout at 5.80. If bulls complete the breakout, they will likely create a base and may crawl to our target of 6.75. The process may take a year.

Weekly Chart of NZD/HKD on OANDA

As of this writing, the NZD/HKD pair is trading at 5.65688.

Summary of Strategy

Buy: Breakout at 5.80.

Target: 6.75

Stop: 5.65 after the breakout.

 

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 149 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: QTUM

Published

on

QTUM could be ready for a quantum leap to the upside. On the QTUMBTC daily chart we see the price has surpassed and closed above the Monthly Pivot Range high, this is a significant event in that it demonstrates the bias has shifted from the many weeks of bearishness, to one of bullishness.

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

The 14 Day Pivot Moving Average (red line) has crossed the yellow 30 Day Pivot MA and the white 50 Day Pivot MA so this is clearly bullish . There are no other key Pivot levels that are in the way of a long term move up.

The action to take is to place a buy order to enter the market long. The support level near term should be the Monthly Pivot high but look for longer term support all the way down to the Monthly Pivot low. This is a long term trade so be patient by placing your stop loss far enough away to avoid getting prematurely stopped out.

This is a good risk reward ratio within a high probability setup with a lot of support.

// -- Become a yearly Platinum Member and save 69 USD and get access to our secret group on Workplace. Click here to change your current membership -- //

Entry Price: 22.00
Stop Loss: 19.90
Profit Targets: First profit target 27.88. Second profit target 34.90. Once price reaches 25.50 raise the stop loss to breakeven. Then if the market follows through to higher levels manage the trade by trailing a stop loss 2.00 points behind until second profit target is reached or stopped out.

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.
1 vote, average: 5.00 out of 51 vote, average: 5.00 out of 51 vote, average: 5.00 out of 51 vote, average: 5.00 out of 51 vote, average: 5.00 out of 5 (1 votes, average: 5.00 out of 5)
You need to be a registered member to rate this.
Loading...

3.8 stars on average, based on 44 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: DASH

Published

on

DASH is ready to make a longer term dash to the upside again. On the daily chart we see the price has surpassed and is about to close above the Monthly Pivot Range high, this is a significant event in that it demonstrates the bias has shifted from the many weeks of bearishness, to one of bullishness.

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

Also considering the 14 Day Pivot Moving Average (red line) has crossed the yellow 30 Day Pivot MA this is clearly bullish . There are no other key Pivot levels that are in the way of a long term move up.

The action to take is to place a buy order to enter the market long. The support level near term should be the Monthly Pivot high but look for longer term support all the way down to the Monthly Pivot low. This is a long term trade so be patient by placing your stop loss far enough away to avoid getting prematurely stopped out.

Entry Price: 462.50
Stop Loss: 359.00
Profit Targets: First profit target 615.00. Second profit target is 710.00. Once the market reaches 510.00 bring the stop loss to breakeven (entry level); then manage the trade further by using a trailing stop loss 50.00 points behind as the market runs higher.

// -- Become a yearly Platinum Member and save 69 USD and get access to our secret group on Workplace. 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.
2 votes, average: 4.50 out of 52 votes, average: 4.50 out of 52 votes, average: 4.50 out of 52 votes, average: 4.50 out of 52 votes, average: 4.50 out of 5 (2 votes, average: 4.50 out of 5)
You need to be a registered member to rate this.
Loading...

3.8 stars on average, based on 44 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

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