[FOREX TIP] GBPJPY Price Action Analysis – 6th July 2018

GBPJPY has been Bullish on the H4 chart. The price has been going upward by maintaining an up trending Trend line. Today’s first H4 candle came out as a Pinbar. The current candle went down to the Support level and it seems like that it would end up being a Bullish H4 candle. If that really happens and we get an H4 Bullish Engulfing Candle here, then an H1 breakout towards the upside would offer us a long entry. Let us have a look at the summary of the trade…

GBPJPY Price Action Analysis – 6th July 2018

See the upward movement of the price on the H4 chart. After having a correction, the price seems to have been maintaining that up trending channel. The level of 146.065 has been the Support so far. If this level produces an H4 Bullish Engulfing Candle, and we get an H1 breakout at the level of 146.838. Then the price would reach the level of 147.835. Let us have a look at the summary of the trade…

• Buy Stop Order: 146.838
• Stop Loss: 146.065
• Take Profit: 147.835
• Validity: 72 hours
• Whenever possible, move the stop loss to the entry price and whenever you want, you can take profit anytime as long as you feel comfortable

If we look at the price movement on this chart, we see that the first Bullish wave was strong towards the upside. Then, the price has been going to towards the upside, but the movement has been slow. It is called Bullish Divergence. The trend is still Bullish as long as that up trending Trend line is maintained. However, this is a sign that the trend might end up soon.

GBPJPY Price Action Analysis – 6th July 2018

The post GBPJPY Price Action Analysis – 6th July 2018 appeared first on Advanced Forex Strategies.

from Advanced Forex Strategies

CryptoCurrency News: India's Ruling Party Accused of Involvement in 'Mega Bitcoin Scam'

The largest political party in India is accusing the ruling Bharatiya Janta Party (BJP) of being involved in a bitcoin scam to launder money.

via CoinDesk

CryptoCurrency News: PoWx: The New Effort to Change Bitcoin (And Who's Backing It)

Technologists unveiled a foundation dedicated to rewriting bitcoin's underlying tech, giving the long-controversial idea new wings.

via CoinDesk

CryptoCurrency News: The EU's Biggest ETF Firm Expands Into Crypto Products

Europe's largest trader of exchange-traded funds(ETF) is entering the crypto world.

via CoinDesk

CryptoCurrency News: Bittrex and Invest.com Partner on New Crypto Trading Platform

Bittrex and invest.com announced that they will partner to launch a cryptocurrency trading platform under the invest.com brand name.

via CoinDesk

CryptoCurrency News: Block.one Appoints Former Jefferies Asia CEO to Lead VC Arm

Block.one, the company behind the EOS blockchain, has just hired a former Jefferies Group LLC executive to lead its $1 billion venture capital arm.

via CoinDesk

CryptoCurrency News: IBM Wants to Track 'Collaborative Coding' Milestones on a Blockchain

A new patent application from IBM suggests that the tech giant is eyeing blockchain as a way to chart programmer contributions for projects.

via CoinDesk

CryptoCurrency News: Romania Drafts Bill to Regulate Cryptocurrencies

Romania has drafted an emergency ordinance to regulate cryptocurrency issuing.

via CoinDesk

CryptoCurrency News: Another Ripple Lawsuit Claims XRP Is A Security

A third investor in three months is suing Ripple on grounds that the XRP cryptocurrency is a security issued by the firms. 

via CoinDesk

CryptoCurrency News: Up 50%: Ethos Rallies Big After Crypto Wallet Launch

A token seeking to power an ecosystem of applications is consolidating gains after a bout of big news this week.

via CoinDesk

CryptoCurrency News: BIS Chief to Crypto Coders: 'Stop Trying to Create Money'

Agustín Carstens, general manager of the Bank for International Settlements, made strong comments again on cryptocurrency.

via CoinDesk

CryptoCurrency News: Bitcoin Rally Hits a Speed Breaker at $6,750

Bitcoin's short-term bull market has paused at the key technical resistance of $6,750.

via CoinDesk

CryptoCurrency News: Thailand SEC Reveals Date for Enacting ICO Licensing Rule

After a months-long process that saw public hearings and legislative debates, Thailand regulators said a rule on ICOs will take effect this month.

via CoinDesk

CryptoCurrency News: Summer Blues or Crypto Moon? Take CoinDesk's State of Blockchain Survey

This past quarter saw price declines, hacks, regulatory clarity, and many more.

via CoinDesk

[FOREX TIP] EURUSD Price Action Analysis – 5th July 2018

EURUSD has been on a range on the Daily and the H4 chart. Today’s price action seems that the price is having a correction towards the downside. There is a level, which has the potential to be a strong level of Support. If that really happens and we get an H4 Bullish Engulfing Candle from that level, then an H1 breakout at yesterday’s higher high would be the signal to go long on the pair today. Let us have a look at the H4 EURUSD chart.

EURUSD Price Action Analysis – 5th July 2018

As we see that the price has been ranging. The level of 1.16810 seems to be the level of Resistance here and the level of 1.16425 might be the level of Support today. If the level of 1.16425 becomes the Support and it produces an H4 Bullish Engulfing Candle, then we should wait for an H1 breakout at the level of 1.16810 to take the long entry. Let us have a look at the summary of the trade…

• Buy Stop Order: 1.16810
• Stop loss: 1.16425
• Take Profit: 1.17430
• Validity: 72 hours
• Whenever possible, move the stop loss to the entry price and whenever you want, you can take profit anytime as long as you feel comfortable

If the price starts trending from bit up than the potential Support level, then the price might not go all the way. That is why it would be best if the price comes to the level that we have marked here and starts going towards the upwards. The breakout should look like a strong breakout too since this is a very strong level of Resistance. There is a saying “The stronger the Support/Resistance, the harder the breakout is.”

EURUSD Price Action Analysis – 5th July 2018

 

The post EURUSD Price Action Analysis – 5th July 2018 appeared first on Advanced Forex Strategies.

from Advanced Forex Strategies

CryptoCurrency News: Crypto Exchanges Are Already Adapting to India's Bank Account Ban

As the Indian Supreme Court declined to end the Reserve Bank of India's crypto curb, exchanges in India are taking different actions.

via CoinDesk