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Friday, June 22, 2018

Edenville – a false bullish breakout


Edenville stock (LSE:EDL) has experienced what can best be called a false breakout.. The major bias is bearish, and thus, the current bullish breakout could end up being a temporary rally in the context of a downtrend.

Price is above the EMA 11 but it is yet to close above it. Should price close below it, the recent bearish bias on the market will be confirmed. Should price close below it, it would harbinger a clean bullish signal.


The Williams’ % Range period 20 is shooting upwards, but it is not yet in the overbought region.
 The probability of the Williams” % Range period 20 going back into the oversold region is very high.

The outlook on Edenville remains bearish. The market would soon go southwards again, following the ongoing false bullish breakout.


Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

Trading realities: Trading realities

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Greatland Gold Soars!


Greatland Gold shares (LSE:GGP) are currently soaring, following a frustrating and boring period of trendlessness (January – June 2018). Price soars, thus ending the long-term ranging movement.

The ADX period 14 is above the level 40, showing a very strong momentum. The DM+ is above the DM-, meaning that bulls reign.

The MACD default parameters has its signal lines and histogram above the zero lines. That shows a Bullish Confirmation Pattern in the market. Things are supposed to keep on going northwards.

A “buy” signal has already been generated in the market, and this could just be the beginning of a long-term bullish journey, which ends the recent frustrating base that has been formed in the market.

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

Trading realities: Trading realities 
  

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Thursday, June 21, 2018

Litecoin (LTC) Daily Price Forecast – June 21


LTC/USD Medium-term Trend: Ranging


Resistance Levels: $100, $102, $104
Support Levels:$96, $94, $92
Yesterday, June 20, price of Litecoin was in a sideways trend but closed trading at a price of $97.60. Price reached the top of the upper band of the Bollinger Bands and it fell. Bollinger Bands acts as a resistance  and a support in the market. Meanwhile, the MACD line and the signal line are neither above nor below the zero line indicating a neutral signal.

Also, price of the cryptoasset is neither above nor below the 12-day EMA and the 26-day EMA indicating that the market is ranging. The relative strength index period 14 is level 50 indicates that price of Litecoin is in the range bound zone. The price of a cryptoasset is likely to continue its range bound movement between the levels of $100 and $90.

LTC/USD Short-term Trend: Bullish

On the 1-hour chart, the price of Litecoin rose and reached the upper band of the Bollinger Bands. Bollinger Bands acted as a resistance to the price and it fell. Nevertheless, MACD line and the signal line are above the zero line indicating a buy signal. Also, price of Litecoin is above the 12-day EMA and the 26-day EMA indicating that the bullish trend is ongoing.

The views and opinions expressed here do not reflect that of BitcoinExhangeGuide.com and do not constitute financial advice. Always do your own research.


Monday, June 18, 2018

Ethereum (ETH) Daily Price Forecast – June 18

ETH/USD Medium-term Trend: Bearish

Resistance Levels : $500, $505, $510
Support Levels: $485, $480, $475
Price of ETH/USD pair was also in a bearish trend. The asset was trading at $520.92 and later fell the low of $460.78. From the 4-hour chart, price touched the lower Bollinger band and also at the second low. This gives the asset a buy signal. Nevertheless, the MACD line and the signal line are neither above nor below the zero line indicating a neutral signal.
In addition, the 12-day EMA and the 26-day EMA are neither below nor above the price of the asset indicating a neutral signal. However, from the price action, the asset had been in a range bound movement.Meanwhile, the relative strength index period 14 is level 45 indicates that price is in the range bound zone.


ETH/USD Short-term Trend: Bearish

On the 1-hour chart, price of Ethereum is in a bearish trend. The MACD line and the signal line are below the zero line indicating a sell signal. In addition, the 12-day EMA and the 26-day EMA are above the price of the asset which indicates that the bearish trend is ongoing.


The views and opinions expressed here do not reflect that of BitcoinExhangeGuide.com and do not constitute financial advice. Always do your own research.
Source: www.bitcoinexchangeguide.com        

Saturday, June 16, 2018

Weekly Trading Forecasts for Major Pairs (June 11 - 15, 2018)


Here’s the market outlook for the week:


EURUSD
Dominant bias: Bearish
The market began the current strong bearish movement in April. This month (especially from early June), price consolidated till June 14, before the large pullback we are currently witnessing. The large pullback has put more emphasis on the dominant bearish bias; thus price is expected to go further southwards this week, reaching the support lines at 1.1600 (an easy target), 1.1550 and 1.1500.



USDCHF
Dominant bias: Bearish
This pair is bearish in the long-term, but bullish in the short-term. It is somewhat weird that both USDCHF and EURUSD have been bearish for some time, but the situation seems about to change. On June 14, there was a sudden bullish breakout, which was strong enough to bring about a short-term bullish signal. There is a possibility that price could keep on going northwards this week, reaching the resistance levels at 1.0000 (an important level), 1.0050 and 1.0100. However, an exceptionally strong buying pressure would be needed for the resistance level at 1.0100 to be reached.


GBPUSD
Dominant bias: Bearish
In the first week of June, Cable consolidated in the context of a downtrend. The same thing happened last week…. before the bearish movement that occurred on Thursday, which points to bears’ supremacy. The weakness in the market is currently visible and since the outlook on GBP pairs is bearish for this month, further southwards movement is expected, which would enable price to reach the accumulation territories at 1.3250, 1.3200 and 1.3150.

USDJPY
Dominant bias: Bullish
USDJPY managed to go upwards last week, and it was able to close above the demand level at 110.50 on Friday. There is a Bullish Confirmation Pattern in the market, which points to the possibility of price going towards the supply levels at 111.00, 111.50 and 112.00. Nonetheless, the further northwards the market goes, the greater the potential of a strong pullback, which can happen before the end of the week.  


EURJPY
Dominant bias: Bearish   
The pullback that occurred on April 14 points to the fact that bears are still a force to reckon with. The major bias on the market is bearish, and since EUR is currently weak, price is supposed to continue moving downwards. The outlook on JPY is bearish for this week – another factor that may contribute to continuous weakness in the market. The next targets are the demand zones at 128.00, 127.50 and 127.00.

GBPJPY
Dominant bias: Bullish  
This trading instrument simply moved in a range last week. Price ranged between the supply zone at 148.00 and the demand zone at 146.00. This week, either the supply zone or the demand zone would be breached forcefully as price assumes a strong, directional movement. The most likely direction is bearish (which may invalidate the extant bullish bias), and that may enable price to reach the demand zones at 146.50, 146.00 and 145.50.

This forecast is concluded with the quote below:

“Regardless of time frame and date, a chart is a chart. The only thing that really changes over the years is how you manage what you see. As long as human beings trade a market, human emotional reaction to the movement of price will cause certain patterns to form.” – Joe Ross


  

  

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Friday, June 15, 2018

The major reasons why suicide traders don’t use stop loss?


Note: This article shows why the use of stop loss is 100% mandatory, despite what suicide traders (who call themselves professionals may say). This article comes from someone with over 60 years of experience in various financial markets.




Would you ever think of jumping out of an airplane without a parachute? Of course not, but that's what some people do when they trade the markets. They are very willing to put their money on the line, but they don't have much to protect them from a major disaster. Placing a stop, for example, can prevent you from allowing a small loss to turn into a big one, but many traders avoid placing stops. Why do some traders take risks by not placing stops? It can be difficult to know where to place a stop. If you fail to account for volatility, you will get stopped out too soon. Other people are afraid to place stops. Placing a stop requires you to consider the worst-case scenario, and to many, it's difficult to consider failure. It's easier to deny the potential problem, and to pretend it will not possibly happen. Many experts, however, suggest placing stops. They know that nothing is certain when trading the markets. They view protective stops as a kind of insurance policy that prevents a catastrophic loss.

One seasoned trader I talked to, says "I never take a trade without knowing my stop. When I take a trade, I'm pretty convinced it's something worthwhile. I've already figured out my stop. I've accepted the (potential) loss before I ever clicked the button or made the call. So if it starts going against me, I don't feel a flood of emotions." For that trader, stops not only protect him from losses, but they help him control his emotions. Stops give him a feeling of security, and allow him to feel calm and relaxed.

Experienced traders may use stops all the time, but even the most experienced traders have difficulty following them. For example, one trader I know, admits, "I've blown stops and it's painful. The weird thing is that money does not seem to be driving it. Afterwards, I sit and try to analyze the incident. I certainly knew better. I believe trading is something of a self-journey. It involves learning about your character, your self-control, and your ego."

Still another trader also admits he blows his stops: "Sure. That happens all the time. There's nothing I can do about it. That's one of challenges that continue to engross me. Do you hold them or do you fold them? If you fold a long position and prices go up, you get angry because you made a mistake. If you hold a long position and prices go down, you become angry again. Nevertheless, you have to stay focused on what's going on and learn from the experience and try to apply it to the future. You're going to take your lumps in the market."

Even though stops are difficult to set and difficult to keep at times, they are an essential component of risk management. Losses are commonplace in trading. As hard as it is to focus on losses, they are impossible to avoid. Rather than avoid thinking of the worst-case scenario, face it head on. Figure out what could go wrong and where you can place a stop to protect you from a huge financial loss. In the long run, you'll find you will limit losses and trade more profitably.

Author: Joe Ross
Source: TradingEducators.com


The note below ends this piece.

“So, what is a trader to do?  Well, one of the things to do is to re-evaluate the way you envision the markets and your relationship to loss.  What you want to develop is an I don’t care attitude regarding your trading.  You must look at the markets as being exactly what they are, totally unpredictable.  No matter how good a level looks, it is not a foregone conclusion that any particular outcome is definite.  What we look for is the high probability trade. There are times when the probability may get very close to 100%, but no matter how close it gets it can never be 100%.  This means that whenever you enter a trade you must embrace it as a possibility for loss. When you do this, it detaches you from the loss potential because you are prepared for it.

Of course, you already have begun this process whether you realize it or not.  You have put in a hard stop! This is imperative. The stop’s first and main job is to protect your capital.  If your capital is gone you cannot trade, so it follows that this is the most important part of your trading; and, of course it is derived from an appropriate risk calculation.” – Dr. Woody Johnson (Source: TradingAcademy.com)


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Thursday, June 14, 2018

Bitcoin (BTC) Daily Price Forecast – June 14


BTC/USD Medium-term Trend: Bearish

Resistance Levels: $6,600, $6,700, $6,800
Support levels: $6,300, $6,200, $6,100
Yesterday, June 13, price of Bitcoin is still in a downtrend. There are indications that price of Bitcoin might fall and reach the lows of $6,000 or $6,500. The asset fell to the low of $6,225.04 as at yesterday. Today, price of  Bitcoin is making some bullish movement, and the price has appreciated to the high of $6,406.32. Now from the MACD indicator, the MACD line and the signal line are below the zero line indicating that the price is still falling.

The 12-day EMA and the 26-day EMA are above the price bars of Bitcoin indicating that bearish trend is still ongoing. Meanwhile, the relative index period 14 is level 33 indicates that the market is oversold suggesting bulls to take control of the market.

BTC/USD Short-term Trend: Bearish

On the hourly chart, price of Bitcoin is still in a downtrend. From the chart, the MACD line and the signal line are still below the zero line indicating a sell signal. The 12-day EMA and 26-day EMA are neither above nor below the price bars of the asset indicating a neutral signal. The moving averages are at par with the price bars.

The views and opinions expressed here do not reflect that of BitcoinExhangeGuide.com and do not constitute financial advice. Always do your own research.

Monday, June 11, 2018

Litecoin (LTC) Daily Price Forecast – June 11


LTC/USD Medium-term Trend: Ranging

Resistance: $108, $109, $110
Support:$106, $105, $104
Last week, price of Litecoin was also in a ranging market. Price of the asset was fluctuating between the levels of $119 and $123. However, it was suggested that if the asset fell to its previous low at $115, traders should initiate long trades. Litecoin is presently trading at $107.75 as at the time of writing.

However, from the 4-hour chart , the asset has fallen to the low of $104.75 . This was the previous low of the asset, and price has commenced a bullish movement. Meanwhile, the MACD line and the signal line are below the zero line indicating a sell signal . Also, 12-day EMA and 26-day EMA are above the price of the asset indicating that the bearish trend is ongoing.

LTC/USD Short-term Trend: Bearish

On the 1-hour chart, price of Litecoin is in a bearish trend. Price of the asset has fallen to the low of $102.77 but has commenced a bullish movement. The MACD line and the signal line are deep below the zero line indicating a sell signal. If the bearish pressure continued the support levels would be breached.

The views and opinions expressed here do not reflect that of BitcoinExhangeGuide.com and do not constitute financial advice. Always do your own research.

Daily analysis of major pairs for June 11, 2018


Daily analysis of USD/CHF for June 11, 2018


USD/CHF
This is a weak market, for the USD/CHF has been caught in a slow and gradual bearish movement since May 10 (over 230 pips). It is possible that the market would continue going further downwards (albeit slowly), especially when EURUSD gains a lot of stamina. This is because the EUR/USD and the USD/CHF are negatively correlated.

There is a Bearish Confirmation Pattern in the market. The support levels at 0.9800 (which has previously been tested), 0.9750 and 0.9700, would be reached soon, and that might bring about a strong Bearish Confirmation Pattern in the market.




Daily analysis of USD/JPY for June 11, 2018

USD/JPY
The USD/JPY is bullish in the long-term, but neutral in the short-term. In the last two weeks, price has generally oscillated between the demand level at 108.50 and the supply level at 110.50. As long as price continues to oscillate between those demand and supply levels, the short-term bias would be neutral.

Mixed signals will be witnessed on certain JPY pairs this week (and thus the USD/JPY). A break above the supply level at 110.50 will result in confirmation of the existing long-term bullish outlook while a break below the demand level at 108.50 will result in a clean bearish outlook.


Daily analysis of EUR/JPY for June 11, 2018

EUR/JPY
The bias on this currency trading instrument has just turned bullish.  Since May 30, price has rallied by 500 pips, reaching the supply zone at 130.00, before the current bearish correction (which happened on June 8).  A sideways movement throughout this week will bring about a neutral bias on the market.

A test of the demand zone at 127.50 will threaten the new bullish bias on the market; while a movement towards the supply zones at 129.50, 130.00 and 130.50 will strengthen it. There will be a measure of volatility in the market this week.


Performed by Azeez Mustapha,
Analytical expert
InstaForex Companies Group

                                                                                                                    


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Sunday, June 10, 2018

Weekly Trading Forecasts for Major Pairs (June 11 - 15, 2018)


Here’s the market outlook for the week:


EURUSD
Dominant bias: Bearish
This pair is bearish in the long-term, and bullish in a very short-term. Since May 30, price has been making a measure of bullish attempt (save the correction that was witnessed on Friday). A movement above the resistance lines at 1.1850, 1.1900 and 1.1950 will bring about a long-term bullish outlook on the market. On the other hand, a movement below the support lines at 1.1650, 1.1600 and 1.1550, will cancel the short-term bullishness in the market, while strengthening the major bearish outlook.




USDCHF
Dominant bias: Bearish
The market has been caught in a slow and gradual bearish movement since May 10 (over 230 pips). It is possible that the market would continue going further downwards (albeit slowly), especially when EURUSD gains a lot of stamina. The support levels at 0.9800 (which has previously been tested), 0.9750 and 0.9700, would be reached soon, and that might bring about a strong Bearish Confirmation Pattern in the market.


GBPUSD
Dominant bias: Bearish
Although there is currently a bearish trend in the market, price made faint effort to go upwards last week. It is much more likely that the faint bullish effort will eventually translate into a significant rally this week, because the outlook on GBP pairs is bullish. The distribution territories at 1.3450, 1.3500 and 1.3550 would be reached. This will eventually invalidate the bearish bias on the market, as everything turns bullish.

USDJPY
Dominant bias: Bullish
This trading instrument is bullish in the long-term, but neutral in the short-term. In the last two weeks, price has generally oscillated between the demand level at 108.50 and the supply level at 110.50. As long as price continues to oscillate between those demand and supply levels, the short-term bias would be neutral. A break above the supply level at 110.50 will result in confirmation of the existing long-term bullish outlook while a break below the demand level at 108.50 will result in a clean bearish outlook.


EURJPY
Dominant bias: Bullish    
The bias on the EURJPY has just turned bullish.  Since May 30, price has rallied by 500 pips, reaching the supply zone at 130.00, before the current bearish correction (which happened on June 8). A test of the demand zone at 127.50 will threaten the new bullish bias on the market; while a movement towards the supply zones at 129.50, 130.00 and 130.50 will strengthen it. There will be a measure of volatility in the market this week.


GBPJPY
Dominant bias: Bullish  
Although a bearish correction was experienced on Thursday and Friday, the bias on the market remains bullish.  A sideways movement throughout this week will bring about a neutral bias on the market. A drop of 150 – 200 pips will result in a bearish signal, while a movement towards the supply zones at 147.50, 148.00 and 148.50, will save the ongoing bullish outlook on the market. It is much more likely that bulls would be able to hold out this week.

This forecast is concluded with the quote below:

“Once you know how to trade, no-one and nothing can sweep aside your skill. It’s something you can do no matter how old you are. As long as you have a dream in your heart that you yearn for, the sun never has to set on your identity as a ‘trader’.” – Louise Bedford



  

  

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