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Tradeoftheday

OMG long opportunityOmg, omg, omg. I like this chart. I don't know much about OmiseGO as I'm trading mostly charts and not names. Chart is having good looking rounded bottom here so it might be nice investment opportunity as well a trade that I'm setting up. I don't recommend investing in any Alt before doing some serious Fundamental Analysis on the coin you want to invest in. So do some deeper research if you like a coin. You really don't want your coin to get delisted from a big exchange few months after your buy it. Most of the time it falls down like a stone before you even notice it. Believe me. I've done it many times :D Here is the plan for the trade --> I'm waiting for the price to break the resistance line and stay above. Most of the time they turn into support lines ones they are broken and I expect at least one retest after it. So I'll put stop loss below this line and try to get even tighter stop than on the chart. For long term hold I would set looser stop loss - below 0.00030700. You can increase/decrease the risk by moving stop. Or with the size of your position. You can choose what is the most likely reward. Overall 1:7 risk/reward ratio as presented on the chart seems reasonable. This is in case you sell everything on second target. So this set up only needs to work one out of seven times to make long term profit. __________________________________________________________________________________ If you've found something interesting here you can like this idea or smash the follow button! Other ways to support my work if you choose to: --> Sign up on Binance with my Referral Link: www.binance.com --> Sign up on BitMEX and get 10% discount on all fees for 6 months after you sign up using this Affiliate Link: www.bitmex.com The supporters will get all the help you need to learn how to use different trading platforms AND understand risk management in trading via Private Messages, Discord, Skype... I'm sure most of the best traders will agree that risk management is the single most important subject you need to understand very well when it comes to trading or investing. Without this you can easily blow off your account. You can also make a donation on one of my addresses: BTC: 12qe5buhPQTAEnqmMYBNafymePd9BAgqJT ETH: 0x134c60f13c48fe1ea48b10f980a2c68070f1bf82 LTC: LTuRNgXDU2ojj7DseX4GRhQcFyJzXo82mn But again - you can instead start on Test Account and make a goal to be at least break even after 50, 100 maybe even 200 trades. Or at least for some months. Here is one example: testnet.bitmex.com Let me know if there is any specific subject you would like to discuss!
Long
by Metiu
Simple BTC tradeAre you a bull or a bear? It doesn't matter much here to be honest. This one isn't hard. The resistance and support areas for BTC are obvious. Are you a bull and you think BTC is going back to 20k and than 50k or maybe up to 250k? Maybe someday it will... But even if BTC found it's bottom and we are now in uptrend it's just very unlikely for the price to sky rocket through 6k. So why not short it? After it bounces from the resistance the only support at the moment lies down at ~4250 area. It's really not much else in between. No man's land. At least for now. I expect price will stay between in 4.2-6k area for quite some time as well. It's hard to imagine that BTC will switch from bear to bull mode so smooth (even if some alts suggest so). So we should get some retests of lower level(s). Some ugly red bars to get rid of all of panic sellers.There will be plenty of them. Than you can go long. As a trade or even more as long term hold if you want. Are you a bear? Just short it. Take some profit at support and hold some if you think we will see new btc bottom. Short again if it comes back to resistance at 5850. You must be wondering what if price slices through resistance. Well guess what --> You are risking around 4% to gain 25%. This trade needs to work only one time out of 7. So if you think there is like 20%+ chance price will bounce of the resistance at around 5850 than this trade is printing money on the long run. Even if you got stopped out more often than not. This is why you have stop loss! _______________________________________________________________________________________________________________________________________________________________________________________________________________________ If you've learned something new by reading this you can choose to support my work! --> Sign up on Binance with my Refferral link: www.binance.com --> Sign up on BitMEX and get 10% discount on all fees for 6 months after you sign up using this affiliate link: www.bitmex.com The supporters will get all the help you need to learn how to use different trading platforms AND understand risk management in trading. So now your account can be safe. Do you know why you should always use Stop Limit instead of Stop Market on BitMEX if you don't want to wake up someday with an empty account? You can also choose to just simply donate to one of my addresses: BTC: 12qe5buhPQTAEnqmMYBNafymePd9BAgqJT ETH: 0x134c60f13c48fe1ea48b10f980a2c68070f1bf82 LTC: LTuRNgXDU2ojj7DseX4GRhQcFyJzXo82mn I always suggest trading on demo accounts at least until you have decent sample size of trades without losing money.
BITMEX:BTCUSD.PShort
by Metiu
4
Mid LT Bullish Outlook EURNZDHello guys, A very nice LT channel has been formed, remember a channel has to be "envisioned" which represents the best fit for the price movements. Therefore, drawing chart patters is quite an art. Conservative set up: -A higher high has been formed, almost a higher low, we want to wait the breakout of that higher high to be sure the trend has reversed. It is a very conservative approached. -Stop Loss 65 pips -Take Profit 220 pips -Even if conservative, a nice 3:1 risk-reward. Aggressive but "loss conservative" set up: - A consolidation has been formed and that might be the higher low. Plus, it is in proximity of an important support zone. A buy stop order can be placed on the break out of that consolidation. -Stop Loss 65 pips -Take Profit 400 pips - A more aggressive set up, but the risk-reward is way better --> 6:1 RR ;) Notice that it might take some time, around 1-2 weeks to reach target, since volatility is quite low, around 50 pips on average according to ATR. Remember always risk no more than 1% of your capital per position. Be patient, stay calm but trade like a shark! Cheers, Sebastiano
Long
by Sebatrader1
2
Trade of the day. Breakout Downwards likely on EURUSD. A few things to notice about this chart. 1. Price bounces down from 100 MA. Before November it was bouncing above from it. This line is key. 2. MACD shows price doesn't have a direction and has been consolidating since December. When the market decides EUR is going up or down, large orders will be placed in that direction. 3. There have been a serious of breaks downwards from upward trending lines indicating a downwards bias for about a year now. With EU presenting further QE, there is huge pressure to push the EUR lower and this is likely to continue. 4. Bollinger Band the tightest its been for years. A huge move is coming. It could go either way, but see point 3. 5. Price is dropping to converging supports in both upwards trend support and long-term horizontal support. Monday will be big. A spike down and we are likely to see the price possibly go to parity. It is possible that we have a few more days of consolidation however I still favour downwards bias.
Short
by maccabean
2