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EUR/USD Daily Chart Analysis For Week of May 10, 2024Technical Analysis and Outlook: During this week's trading session, the Eurodollar fluctuated around our significant Mean resistance level of 1.080. There are projections that the currency may experience an upward surge and complete the Inner Currency Rally of 1.084 before undergoing a downward transition to the Mean Support level mark of 1.074 and possibly further down to designated targets. However, it is also possible that the Eurodollar might go down to hit the Mean Support level of 1.074 from its current position.
by TradeSelecter
DCA - is for those who do not like to be nervousIn the fast-paced and often volatile world of cryptocurrency, finding best investment strategy can be a daunting task. While many traders seek quick gains through active trading, a more prudent and less stressful approach exists: Dollar-Cost Averaging (DCA). What is DCA? DCA is an investment strategy that involves investing a fixed amount of money into a particular asset at regular intervals, regardless of the asset's price. This approach aims to reduce the impact of market volatility on investment returns by averaging out the purchase price over time. Why is DCA the Sleep-Well Strategy? DCA offers several advantages that make it an ideal strategy for investors seeking long-term growth and peace of mind: Emotional Discipline: DCA eliminates the emotional decision-making that often plagues traders. By investing consistently, regardless of price fluctuations, you avoid the urge to buy high and sell low. Reduced Risk: DCA averages out the purchase price, reducing the overall impact of market volatility. You may buy some coins at higher prices, but you'll also benefit from lower prices, evening out your investment cost. Long-Term Focus: DCA encourages a long-term investment mindset, discouraging impulsive decisions based on short-term price movements. It's about building wealth gradually and consistently over time. DCA vs. Trading: DCA stands in stark contrast to active trading, which involves buying and selling assets frequently to capitalize on short-term price movements. While active trading may appeal to experienced traders with high-risk tolerance, it often leads to emotional decision-making and can be time-consuming and stressful. DCA: A Proven Strategy with Remarkable Returns To illustrate the effectiveness of DCA, let's examine the returns of some prominent cryptocurrencies over the past few years, assuming a monthly DCA investment of $100: Bitcoin (BTC): Investing $100 monthly in BTC since January 2019 would have yielded a staggering 112% return, with a total investment of $12,000 growing to $25,440. Ethereum (ETH): A DCA approach for ETH since January 2019 would have resulted in an impressive 770% return. Solana (SOL): DCA into SOL since January 2021 would have generated a remarkable 304% return Fetch.ai (FET): Investing $100 monthly in FET since January 2019 would have yielded an exceptional 776% return Understanding the Coins: Technology and Applications Bitcoin (BTC): The world's first and most popular cryptocurrency, Bitcoin is a decentralized digital currency that enables peer-to-peer transactions without intermediaries. Ethereum (ETH): A decentralized blockchain platform, Ethereum supports a wide range of applications, including smart contracts, decentralized finance (DeFi), and non-fungible tokens (NFTs). Solana (SOL): A high-performance blockchain known for its scalability and speed, Solana aims to provide a faster and more efficient alternative to Ethereum. Fetch.ai (FET): An AI-powered decentralized platform, Fetch.ai facilitates the development of autonomous agents for various applications, including open marketplaces and data monetization. Conclusion: DCA is a powerful investment strategy that allows individuals to build wealth in cryptocurrency while minimizing risk and emotional stress. By consistently investing fixed amounts, regardless of market fluctuations, DCA investors can reap significant rewards over the long term. Embrace DCA, sleep well, and let your investments grow steadily towards a brighter financial future.
Education
by Yaroslav_Krasko
Let’s Compare INVESTING, TRADING and GAMBLING Hey traders, In this post, we will compare investing, trading and gambling . 📈 Investing Investing is the act of putting money in a financial market with the expectations of a long-term positive return. The investing decisions are usually made using fundamental analysis. The main goal of an investor is to predict the long-term market trends and benefit on them. Professional investing also involves assets allocation and diversification aimed to hedge potential risks. 💱 Trading Trading is the process of selling and buying financial instruments expecting a short-term (occasionally, mid-term) profit. The trading decisions are usually based on technical and fundamentals analysis. The goal of a trader is to predict local price fluctuations and catch them. Professional trading implies strict, rule-based actions following a trading plan. 🎰 Gambling Gambling is the act of betting on a specific event with the expectations of winning some value. Being completely luck-based, gambling usually involves get rich quick schemes and pursuit of easy money. What differs professional trading and investing from gambling is the fact that professional trading / investing involves objective analysis and strict planning, while gambling remains purely intuition based. Unfortunately, most of the market participants pretend that they trade and invest professionally while acting as gamblers in fact. Remember that long-term, consistent profits can be achieved only with the plan. Your intuition may bring some short-term profits, but in a long-run it will most likely lead you to a bankruptcy.
OANDA:XAUUSDEducation
by VasilyTrader
4
EUR/USD Daily Chart Analysis For Week of May 3, 2024Technical Analysis and Outlook: The Eurodollar experienced significant volatility during this week's trading session, with an upward movement that surpassed our Mean Resistance level at 1.075. As a result, a new resistance mark has been established at 1.080. However, it is projected that the currency will experience a downward transition to the Mean Support level mark of 1.066. It will dip further to retest the previously completed Inner Currency Dip at 1.060. Furthermore, the currency is anticipated to continue its downward trajectory, reaching our next Inner Currency Dip level at 1.054.
by TradeSelecter
Xiaomi (1810): From Double Bottom to Skyrocket!At Xiaomi HKEX:1810 , unlike Alibaba, all financial data is in Hong Kong Dollars (HKD) since we are examining the stock on the Hong Kong Exchange. We observed a double bottom formation at 8.28 HKD for Wave II, which also coincides with the bottom edge of our Volume Node. From there, we've seen a significant rise, over 100%, in a relatively short period, with the low occurring at the end of 2022. Currently, we are in a range that has historically moved through very quickly, known as a Low Volume Node. We may either bounce back down from here or break swiftly upwards to around 21 HKD. Given that we are in Wave III, we anticipate surpassing the peak of Wave I significantly, targeting levels above 36 HKD. Now, let's take a closer look into our long-term perspective on the chart. Upon closely analyzing Xiaomi on the 4-hour chart, we note a commendable 33% rise from our entry for Wave ((ii)). Congratulations to all who participated in this trade. However, we've developed a bearish divergence on the RSI, indicating a potential decline to form Wave (ii), which should fall between the 50% and 100% levels. We've marked a significantly broad zone since we anticipate substantial upside potential, at least up to 36 HKD, which alone represents a at least 144% increase. It wouldn't make sense to rigidly exclude any scenarios, given our past observations of double bottoms forming for Wave 2. The most probable range for this correction, in our view, is between the 50% and 78.6% Fibonacci retracement levels. However, we cannot dismiss the possibility of reaching the full 100%. There is a Low-Volume Node between the 50% and 78.6% levels, suggesting that if we cannot hold the first Fib levels, we might quickly drop lower—another reason for our broad stop-loss.
HKEX:1810
by freeguy_by_wmc
Bitcoin Pump July 2022The Fibonacci resistance level comparisons since the All-Time-High (purple) and the previous high (green) show a correlation to the main resistance at $29k USD. I am expecting a pump to at least ~$25k USD, which is the lowest fibonnaci resistance level since the beginning of March (previous high). I estimate the pump can happen from the 4th to 8th of July 2022, if we should see a RSI bullish rejection breakout (which seems very likely now). This is not financial or investment advice.
Long
by GoldArti
1
WOO (WOO): Critical Moment -Will we Breakout or Breakdown?On the weekly chart of WOOUSDT, it appears that we are likely at the conclusion of Wave 4 or very close to it. This is inferred from the slight intrusion of Wave 4 into the level of Wave 1. In the volatile cryptocurrency market, such a minor breach is not considered a true break of the Wave 1 level for us, which is acceptable as long as it doesn’t lead to further declines. Currently, we are above the last assumed level of Wave 4 at $0.23. We now anticipate a robust rise to the range of $0.65 to $0.88, where the overarching Wave 5 is expected to find it’s end. On the daily chart, we face some complexity, but it allows us to examine the situation more closely. Since completing Wave 3 and the downward correction to Wave 4—with a three-part structure downward and the formation of a trend channel—we can continue with the assumption that until we break out of this trend channel upward, we won't see a contrary upward movement. There are two scenarios here: our primary scenario anticipates a breakout upwards, followed by a retest where we would enter to continue the upward trajectory. On the other hand, it's also possible that we could move lower to the Point of Control around 17 cents, where we might place long positions. However, this would invalidate our structure according to Elliott Wave Theory, requiring us to consider a different structure. Unless that happens, we remain optimistic about a potential upward breakout.
Long
by freeguy_by_wmc
EURUSDHello everyone and welcome to the weekly TOP-DOWN analysis. The week was not the most active in terms of position accumulation, but at the same time, it was quite informative. 1D - The daily timeframe continues to be in a short context. The first problematic zone was completely covered, but we did not receive the expected reaction and continued the long movement, overlapping the FVG. The main problematic zone is the FVG formed on April 10 during the news. I believe that after partially overlapping it, we will continue the short movement towards the lower targets.
Short
by yes_pls_max