AUDCHF LongMy favorite setup this week is on AUDCHF even though it looks like 1D is forming a head and shoulders pattern
but the 4h is still looking bullish which interests me the most, and the confluences line up pretty nice; and those would be:
1- S/R aka break and retest
2- 38.2 Fib retracement
3- 1H Trendline
4- 4H 50Ema
The trigger to getting me in the trade would be the break of the 15M trendline or the close above 1H 20EMA
Followingtrend
ETH USDT : Buy Trade setup @ 2225Welcome to today's trade setup as a part of "Aglogains - Daily Trade series".
As we have seen yesterday, after breaking the previous highs at 2185 - 2200 levels, there was an explosive move to the upside on ETH yesterday, reaching almost 2400 - 2430 levels.
We have seen the market take a breather after this rally by seeing a slight sell-off causing a pullback to the previous highs that were broken.
My trade setup takes advantage of this key resistance turned support level to look for trading opportunities.
On the 3Hr chart, we see a double bottom forming followed by a bullish candle confirming our entry condition.
Entry - 2225
SL - 2083 (142 points)
TP - 2423 (198 points)
Risk to Reward - 1 : 1.4
Will keep you posted on the progress.
Litecoin may breakout soon.Fundamental overview:
currently the whole market except of some alt's is in a sideways/upwards trend while BTC is moving sideways for months.
On the following Analysis I will combine serveral strategies to give you a clear proof for my prediction.
Technical Overview:
In the coming days, we expect that the price will raise, this is due to the cup & handle pattern you can see on the 4h chart.
With the pattern litecoin experienced a breakdown following by a breakout.
All explainations are visible in the image.
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
XRP/USD NO NEED TO RUSHAnalysis: Right now patience is the key on the market, there is no need for huge spikes to the upside. A constantly growing trend will do the job if a lot of people are interested of buying. A lot of analyst posting about 50/50 chances about the price to go up or down, it's always the case, but we need to be 1 step ahead before the price action. If you wait until you see a huge price rise, you miss the low risk-reward opportunities from buying now safely with a stop loss of 1.10$, and you will start buying at 1.6 or even higher to catch the rise and you will have a nonsense risk reward ratio on the trade. As I shared my chart about my last long position you can see that I entered at the bottom of the correction from 1.2$, so our stop loss is at 1.10 in case of a sudden flash crash. I am not speaking about targets right now until we will go higher than the previous high. If it takes a lot of time to get to that top again, it will offers us higher price targets as well.
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Stock to consider in my portfolioThis stock had been steadily moving bullishly throughout the year with little influence by economic condition. The sudden drop in Dec 2018 did not even budge this stock. For a long hold, this stock is a good addition to the portfolio considering the underlying business is to offer quick consumable goods to consumers at the gas station.
Downside is that it offers low quarterly dividend.
This stock is most ideal for quick swing trade and long hold.
AUDJPY 4H LongA long opportunity has presented itself on the 4H timeframe of AUDJPY.
It meets all the rules for my strategy:
Trend: it is with the trend (shown by trendline and 100 EMA)
Value: it is at strong previous resistance
Trigger: Hammer formation
Risk: 1%
Reward:2.6%
Targets: Take targets at previous structure
Stops: underneath previous structure with some room to move
Anyone wishing to contact me with any Q's about my strategy can find me here: matthewhogantrading@yahoo.com