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Thursday, November 29, 2018

Litecoin (LTC) Daily Price Forecast – November 29


LTC/USD Medium-term Trend: Bullish

Resistance Levels: $66, $68, $70
Support Levels: $25, $23, $21

Yesterday, November 28, the price of Litecoin was in a bullish trend. The price of Litecoin is now above the 12-day EMA and the 26-day indicating that price is rising. The digital currency has broken the $35 price level and it is fluctuating at that level. Nevertheless, if the $35 price level holds traders should initiate long trades above that price level.

Also, a stop loss order should be placed below the $35 price level. Meanwhile, the price of Litecoin is above the 12-day EMA and the 26-day EMA indicating that price is in the bullish trend zone. Also, the MACD line and the signal line are above the zero line which indicates a buy  signal.


LTC/USD Short-term Trend: Bullish


On the 1-hour chart, the crypto's price is in a bullish trend. The digital currency is making a series of higher highs and higher lows. Meanwhile, the crypto's price is above the 12-day EMA and the 26-day EMA indicating that price is in the bullish trend zone. Also, the MACD line and the signal line are above the zero line which indicates a buy signal. 


Traders are to ride on the bullish trend as long the uptrend last. They should allow the market to take them out of trading.



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




Sunday, November 25, 2018

Ethereum (ETH) Daily Price Forecast – November 26


ETH/USD Medium-term Trend: Bearish

Resistance Levels: $240, $250, $280
Support Levels: $100, $90, $80

Last week the price of Ethereum was in a bearish trend. The digital currency was below the 12-day EMA and the 26-day EMA which indicated that price was going to fall. On November 19, the crypto's price was resisted by the 12-day EMA and price fell in a downward trend.

The digital currency fell to the low of $107.57 but the crypto's price was still within the bearish trend zone. Today, price is making a bullish movement from its low but may face resistance at the 12-day EMA. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal.

Price is likely to remain bearish as long as the crypto is below the 12-day EMA and the 26-day EMA.


ETH/USD Short-term Trend: Ranging


On the 1-hour chart, the crypto's price is in a sideways trend. On November 25, the digital currency fell to the low of $103.58 and commenced a bullish movement. The bullish candlestick broke the 12-day EMA and the 26-day EMA indicating that price is rising. The 12-day EMA now provides support for the digital currency.

If price breaks the 26-day EMA and remains above it, the crypto is likely to rise. But if it fell below the 26-day EMA, the crypto is likely to continue its downtrend trend.



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

There is no magic in trading



THERE IS NO MAGIC

“Your trading methodology has to make sense for you even if it’s the opposite of what makes sense for other people. Choices made in developing your approach to trading should suit you personally to minimize internal conflict. Only then will you have the confidence to remain true to its development and its execution during tough times. The long-term advantage of developing your own system from scratch (rather than trading someone else’s system) assures you of high compatibility with your beliefs, personality, edges, and objectives. That compatibility becomes one of your sustainable edges. As Curtis Faith of Turtle fame noted: “It’s not about the system, it’s about the trader’s ability to execute the system.” – (Source: VanTharp.com)


LB and I have just wrapped up the final in our series on full time trading. For the most part they have been enjoyable except for one twat who complained that it was unprofessional of LB to not present when she was suffering from severe laryngitis. Presenting for the first time in years is an interesting thing as the expectations of those you present to also change over time.

This particular series could be summarised as all the mistakes I have made in trading and the solutions I have found such as they are. One of the things I have learnt over the past few decades is that there is no magic. Trading is a grinding profession where your central tenet is not to go broke waiting for the next big move. I think in part some attendees were waiting for the magic.



That point in the seminar where you do a grand reveal of your magic strategy that never has a losing trade which means you can quit your job tomorrow and start trading full time with nothing other than a credit card because CFD providers will now in their wisdom allow you to fund your account with credit and earn frequent flyer points.

Regrettably the field of investing has been tainted by endless shonks who have polluted the thinking of people before they even set foot in the market. Before writing this piece, I Googled trading bitcoin for a living and got 35,900,000 returns. Certainly not all of them relate to trading bitcoin or any other crypto full time but if even 10% do then then that’s a staggering 3.5 million  sites promising people that they can give up their day job and start trading overnight.

The central theme of these sorts of sites and it is not limited to cryptos is that you can trade full time with very limited capital. And you can do this because you will never have a losing trade. Your equity curve will be a linear trajectory that soars from the bottom left hand corner of the chart to infinity without ever breaking stride. I can understand why this sort of thing has permeated the thinking of new traders.

Whilst this sounds seductive it ignores many of the key realities of trading the foremost of which is that trading does not produce linear returns. We encounter a feature of equity curves called drawdown. All trading systems generate drawdowns – in a very general sense if you are a trend following you expect to have a drawdown of between 15% to 25% once per year. As an example, consider the equity curve below.

This is the equity curve of Dunn Capital a money manager that uses trend following as its basic tool. You see decades of outperformance punctuated by drawdowns. There is an inviolate relationship between performance and drawdown, if you are swinging fr the fences you need to expect to be struck out a lot. Irrespective of the trading system drawdown is a fact of life for traders – it can only be avoided by not trading. If someone tells you that their equity curve never draws down, then they are a liar. It really is that simple.

The implication for those seeking to trade full time is that your first drawdown will coincide with your move to full time trading. This is a natural feature of systems, they cut their losses and then let their profits run. There is a timing dislocation between these two events that results in the account value immediately slipping. The problem is that this occurs at a time when you are most economically and emotionally vulnerable, it is also a problem because most new traders are undercapitalised. They simply don’t have enough money because they have not thought their transitions through and they may or may not have been infected by the thinking that you can give up your day job and earn 100k a year on a bank of 50k. It is at this point in a seminar that I can see how people begin to sag because it begins to dawn on them that they need much more than think to survive as a trader.

However, I think they are missing the bigger picture since the move to full time trading does not have to be an all-in proposition. The move can occur gradually over time as your capital grows and you acquire more skill. And along the way your life begins to change in small but incremental amounts. You may even reach a point where you stop believe in magic and start believing in your own ability to slowly and inexorably change your own life.

Author: Chris Tate


I end this piece with the quotes below:

“Just coming back from vacation where we’ve been doing a lot of hiking in the mountains, here’s an analogy. You’re standing on a peak of a mountain looking at an even higher peak. But to get there you first have to go down that small valley…no way around it!

It's the same in trading, so as long as the size of the drawdown is within your expectations, you can and should relax when you’re in a drawdown. It's just a necessity you have to endure to get those profits. So understanding and accepting Drawdowns as part of this business will make your life as a trader much easier!” – Marco Meyer (Source: Tradingeducators.com)

“Having said that drawdowns are still making me uncomfortable. I don't like them at all and each time I'm in a big one I'm having the same doubts and troubles most of you probably have too. But knowing that actually nothing is wrong helps a lot to make it through these times. Without that knowledge and understanding, you not only have the doubts but you allow them to win over, follow them and then probably stop trading at the worst time possible.” – Marco Meyer (Source: Tradingeducators.com)


www.tallinex.com wants you to make money from the markets



Thursday, November 22, 2018

Bitcoin (BTC) Daily Price Forecast – November 22


BTC/USD Medium-term Trend: Ranging

Resistance Levels: $6,800, $6,900, $7,000
Support levels: $4,500, $4,400, $4,300

Yesterday, November 21, the price of Bitcoin was in a sideways trend. On November 20, the digital currency fell to its low at $4,534.90 and commenced a range bound movement above that price level. The price above $4,500 has been sustained in the last three days. The appearance of Doji and spinning tops candlesticks describe the indecision of buyers and sellers at this price level.

Meanwhile, the price of Bitcoin is below the 12-day EMA and the 26-day EMA indicating that price is in the bearish trend zone. The MACD line and the signal line are below the zero line which indicates a sell signal. From the price action, if price is resisted by the EMAs then the crypto's price  is likely to fall. On the other hand, if price breaks the EMAs, the crypto's price is likely to rise.


BTC/USD Short-term Trend: Ranging


On the 1-hour chart, the price of Bitcoin is in a sideways trend. The price of the digital currency broke the 12-day EMA and the 26-day EMA as price moves to the bullish trend zone. The crypto's price now fluctuates below and above the EMAs. Price is presently below the exponential moving averages.


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

Wednesday, November 21, 2018

Eurasian Mining shoots skywards


Eurasian Mining stock (LSE:EUA) has shot skyward, following a recent protracted ranging phase, which essentially became a base.

The bullish breakout was so strong that it has generated a clean “buy” signal. The ADX period 14 is above the level 40, meaning that the momentum in the market is heavy. The DM+ is far above the DM-, signifying that bulls are currently dominating bears.


MACD default parameters, has its signal lines and histogram above the zero line. There is a Bullish Confirmation Pattern in the market, and price is supposed to continue going heavily upwards.

EUA stock may reach the demand levels at 1.00, 1.50 and 2.00 within the next several months.



Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

Trading realities: Trading realities    
  

Buy and sell Perfect Money/Payeer/Epay; get funded quickly: www.ituglobalfx.com.ng

Transense Technologies – a bullish signal appears


Transense shares (LSE:TRT) have been bullish for some weeks. The bullishness started around September and the market has become particularly strong at the moment.

Price has gone far above the EMA 21, and the William’s % Range period 20 is far into the overbought region. The bullish momentum is currently strong, and price is supposed to continue going upwards in spite of occasional pullbacks (a normal thing).

Short trades are not logical in this market, unless things become bearish, which may take a long time. Right now, long positions are sensible.


Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

Trading realities: Trading realities 
  

Buy and sell Perfect Money/Payeer/Epay; get funded quickly: www.ituglobalfx.com.ng

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Sunday, November 18, 2018

Litecoin (LTC) Long Term Price Forecast


LTC/USD Long-term Trend: Bearish

Resistance Levels: $60, $70, $80
Support levels: $40, $30, $20

The LTC/USD pair was in a bearish trend in the first two weeks of November 2018. The crypto has an opening balance of $50.13 but price reached a low of $42.80 as at the time of writing. The digital currency faced resistance at the upper price level of $60 but was resisted at $56.86. The price fell and broke the 12-day EMA and the 26-day EMA which resulted in the bearish trend zone.

While in the bearish trend zone, Litecoin had a bearish breakout that made the crypto to fall to the low of $42.80. Price of Litecoin has broken the lower level of price range. The digital currency has also reached the oversold region of the market. Meanwhile, the price of Litecoin is below the 12-day EMA and the 26-day EMA which indicates that a bearish trend is ongoing. The MACD line and the signal line are below the zero line which indicates a sell signal.


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

Thursday, November 15, 2018

Ethereum (ETH) Daily Price Forecast – November 15


ETH/USD Medium-term Trend: Bearish

Resistance Levels: $240, $260, $280
Support Levels: $170, $160, $150

Yesterday, November 14, the price of Ethereum was in a bearish trend. Price was fluctuating at the $210 price level before the bearish breakout. The crypto's price was resisted by the 12-day EMA and it is approaching the $180 price level. The digital currency has reached its oversold region, therefore traders should look out for buy setups so as to initiate long trades.

This will enable traders to earn partial profits as the crypto's price commences its bullish trend. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. The crypto’s price is below the 12-day EMA and the 26-day EMA which indicate that price is in the bearish trend zone.


ETH/USD Short-term Trend: Bearish


On the 1-hour chart, the crypto’s price is in a bearish trend. The crypto's price fell to the low of $182.05 and price is ranging at that price level. The crypto’s price is now below the 12-day EMA and the 26-day EMA which indicates that price is in the bearish trend zone. The MACD line and the signal line are below the zero line which indicates a sell signal.


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

Monday, November 12, 2018

Weekly Trading Forecasts for Major Pairs (November 12 - 16, 2018)


Here’s the market outlook for the week:


EURUSD
Dominant bias: Bearish
EURUSD has become particularly bearish since last week (the bearishness has been in place since August 2018). On November 7, another phase of a bearish movement was begun and price has really become weak. There are support lines 1.1250, 1.1200 and 1.1150, which would tend to impeded further bearish journey. The outlook for this week is bearish, and thus long trades are not currently recommended.

USDCHF
Dominant bias: Bullish
This pair is currently doing exactly the opposite of what EURUSD is doing. The trend is bullish and the bullishness has been in place for a long time. On Wednesday, there was a new lease of bullish breakout, which has made the market skyrocket by nearly 150 pips. The bullish trend is still in place as there is a high probability that price will continue going upwards this week, reaching the resistance levels at 1.0100, 1.0150 and 1.0200. It is highly unlikely that price will be able to stay above the resistance level at 1.0200, even if it breaks it to the upside.



GBPUSD
Dominant bias: Bearish  
The situation surrounding the Cable is currently dicey. The long-term trend is bearish and the short-term trend is bullish. However, the current selling pressure is undermining the short-term bullish signal in the market. Since last week Wednesday, the market has lost well over 320 pips, and another loss of at least, 300 pips, will result in a stronger Bearish Confirmation Pattern in the market. .  

USDJPY
Dominant bias: Bullish
There is an undisputable Bullish Confirmation Pattern on this currency trading instrument. In the long run, price has gained over 900 pips since March 2018, plus the current bullish breakout has occurred since October 29. Some other JPY pairs are currently trending downwards, but USDJPY remains strong, thanks to the strength in Greenback. The current strength should remain in place, otherwise, a massive bearish movement could begin.

EURJPY
Dominant bias: Bearish
This cross is bearish in the short-term, but neutral in the long-term. In the long run, the market is quite choppy; whereas there has been a slow and steady bearish movement in the shorter timeframe. The recent bullish signal that was generated (especially last week), has been threatened by the ongoing southwards movement in the market. The further the price moves downwards, the more convincing the weakness in the market.

GBPJPY
Dominant bias: Bearish
The market is a kind of bullish in the short-term; but the situation in the market is precarious as the trend remains undecided in the long-term, and the bull is almost giving way to the bear’s pressure. Since Friday, GBPJOY has lost 320 pips, now getting close to the demand zones at 145.00. The demand zone could be breached to the downside, which may render the recent “buy” signal in the market useless; otherwise, the “buy” signal will be saved.

This forecast is concluded with the quote below:


“Money is made as a by-product of following a sound trading plan, and adhering to the principles of money management.” – Louise Bedford



  








Sunday, November 11, 2018

Bitcoin (BTC) Long Term Price Forecast


BTC/USD Long-term Trend: Ranging
Resistance levels: $7,200, $7,400, $7,600
Support levels: $6,400, $6,200, $6,000

The price of Bitcoin was range bound in the first week of November 2018. In retrospect, the digital currency was ranging above the $6,400 price level all through the month of October 2018. The major bearish event is that on October 11, the bears went deep into the $6,200 price level. While on October 15, the bulls had a price spike that reached the high of $7,600  but price pulled back to the low of $6,500.

That was why we had a price ranging above the $6,400 price level. On November 7, the price reached a high of $6,565.66 but was resisted. The digital currency was in a downward trend after the resistance at $6,600 price level. The digital currency is likely to fall because price is in the bearish trend zone. 

Meanwhile, the price of Bitcoin is below the 12-day EMA and the 26-day EMA which indicates that a bearish trend is ongoing. The MACD line and the signal line are below the zero line which indicates a sell signal.


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

Thursday, November 8, 2018

Litecoin (LTC) Daily Price Forecast – November 8


LTC/USD Medium-term Trend: Bearish

Resistance Levels: $66, $68, $70
Support Levels: $50, $48, $46

Yesterday, November 7, the price of Litecoin was in a bearish trend. The crypto’s price reached the high of $56.43 and was resisted by the bears. The price of Litecoin faces resistance at the upper price level of $60. The price fall has resulted in the breaking of the 12-day EMA and the 26-day EMA indicating that price is likely to continue its fall.

As the digital currency is range bound between the levels of $50 and $65, the price will find support at the lower level of price range. Traders are to exit their long trades as the crypto’s price is in the bearish trend zone. 
Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. In addition, the price of Litecoin is below 12-day EMA and the 26-day EMA which indicates that price is in the bearish trend zone.

LTC/USD Short-term Trend: Bearish


On the 1-hour chart, LTC price is in a bearish trend. The crypto’s price is below the 12-day EMA and the 26-day EMA indicating price is in the bearish trend zone. The MACD line and the signal line are below the zero line which indicates a buy signal.



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