a-ads

Thursday, July 19, 2018

[FOREX TIP] EURNZD Price Action Analysis – 20th July 2018

EURNZD has been in a range on the H4 chart for a long time. The price is at a strong level of Resistance. Moreover, it seems that the H4 chart has been trying to produce an H4 Bearish candle right from that Resistance level. If that happens and we get another H4 Bearish candle right after the Engulfing Candle, then selling the pair would get us some green pips. Let us have a look at the H4 EURNZD chart.

EURNZD Price Action Analysis – 20th July 2018

EURNZD Price Action Analysis – 20th July 2018

The level of 1.72985 is the level of Resistance here. See how the price reacted to it earlier. If the current H4 candle comes out as an H4 Bearish Candle and the next H4 candle as another Bearish candle, then the price would head towards the level of 1.70000 with a good pace. Let us have a look at the summary of the trade…

  • Sell Stop Order: 172571
  • Stop loss: 1.72985
  • Take profit: 1.70000
  • 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

In this chart setup, we have to wait for two H4 Bearish Candles. First one has to be an H4 Bearish Engulfing Candle and the second one has to be another Bearish candle (preferably a smaller one than the first one). We usually wait for a breakout to take our entry on an established trend. However, it is also possible to take entry at the beginning of a trend too. If things go accordingly, then a trend can be spotted early. There are three things to remember to be able to do that.

  1. Strong Support/Resistance to be spotted
  2. Engulfing Bullish/Bearish candle
  3. The second candle continues towards the trend (but a little smaller one than the first one)

EURNZD Price Action Analysis – 20th July 2018

The post EURNZD Price Action Analysis – 20th July 2018 appeared first on Advanced Forex Strategies.



from Advanced Forex Strategies

CryptoCurrency News: A Japanese Telecom Giant Wants to Use Blockchain to Store Contracts



Nippon Telegraph and Telephone is looking to invent a new contract agreements system based on blockchain technology.

via CoinDesk

CryptoCurrency News: Credit Rating Firm Backs $8 Million Fundraise for Crypto Alternative



A blockchain startup has raised $8 million in a seed funding round with a mission to develop a protocol to serve the unbanked.

via CoinDesk

CryptoCurrency News: Congressman's Call for Crypto Ban Sparks Social Uproar



In the span of a few hours, it became Crypto Twitter vs U.S. Representative Brad Sherman.

via CoinDesk

CryptoCurrency News: Barclays Seeks Twin Blockchain Patents for Banking Services



Barclays Bank proposed using blockchain to make various banking processes more efficient in a pair of patent applications.

via CoinDesk

CryptoCurrency News: It Took Just A Day for Tron's Founder to Win His Own Blockchain's Election



After announcing his candidacy just one day ago, Tron founder Justin Sun has already been elected to run a node in the network.

via CoinDesk

CryptoCurrency News: Malta Stock Exchange Inks Deals to Build Security Token Exchanges



A new arm of the Malta Stock Exchange is partnering with Neufund to launch a stock exchange for tokenized securities and crypto assets.

via CoinDesk

CryptoCurrency News: Ethereum Scaling Solution Raiden Releases Last Testnet Before Launch



The team behind the Raiden, which creates payment channels to help ethereum scale, has launched the final testnet before the tech goes live.

via CoinDesk

CryptoCurrency News: Report: Blockchain Spending to Hit Nearly $12 Billion By 2022



Spending on blockchain solutions is forecasted to increase annually at a growth rate of close to 75 percent through 2022, according to a new report.

via CoinDesk

CryptoCurrency News: Ex-Trump Advisor Steve Bannon Is Making a Cryptocurrency



Steve Bannon, former chief strategist to President Donald Trump, confirmed Wednesday that he is working on a cryptocurrency of his own.

via CoinDesk

CryptoCurrency News: US Consumer Finance Watchdog Opens Regulatory Sandbox to Blockchain



The CFPB is launching a regulatory sandbox to encourage innovation in new tech such as blockchain, acting head Mick Mulvaney announced Wednesday.

via CoinDesk

CryptoCurrency News: Ethereum's Most Heated Tech Debate Is Proving It's Far From Over



A resurgence of debate surrounding fund recovery on the ethereum network shows the topic is still as divisive as ever.

via CoinDesk

CryptoCurrency News: Vietnam Inches Closer to Suspending Imports of Cryptocurrency Miners



The country's central bank has agreed to a proposed suspension of cryptocurrency miner imports, a local new source reported on Thursday.

via CoinDesk

CryptoCurrency News: Bitcoin Price Prepares to Test $8K After Bull Breather



Bitcoin's price pullback is seen yielding a more sustainable rally to $8,000, according to technical studies.

via CoinDesk

CryptoCurrency News: All 'Big Four' Auditors to Trial Blockchain Platform for Financial Reporting



The world's four biggest auditing firms will join 20 banks to trial a blockchain service for validating public companies' financial reports.

via CoinDesk

CryptoCurrency News: Stablecoins Will Do More Than Just Reduce Crypto Price Volatility



Stablecoins will play an important role bridging traditional markets with the programmable financial tools enabled by crypto, argues Abra's CEO.

via CoinDesk

[FOREX TIP] GBPUSD Price Action Analysis – 19th July 2018

GBPUSD produced a huge Bearish H4 candle day before yesterday. The pair has been Bearish since then. Yesterday’s Daily candle came out as a Bearish candle too. Today’s first H4 candle was a Bullish corrective candle. Then, the next one came out as a Doji candle. The current candle seems to be Bearish again. If that ends up being a Bearish Engulfing Candle and we get an H1 breakout at yesterday’s lower low, then selling the pair would get us some green pips. Let us have a look at the H4 GBPUSD chart.

GBPUSD Price Action Analysis – 19th July 2018

GBPUSD Price Action Analysis – 19th July 2018

First, have a look at that huge H4 Bearish candle. That has set the Bearish tone on the H4-GBPUSD chart. Now have a look at the current H4 candle. If it ends like that, then we would have to wait for an H1 candle to make a breakout at the level of 1.30075 to take the short entry. Let us have a look at the summary of the trade…

  • Sell Stop Order: 1.30075
  • Stop Loss: 1.30820
  • Take Profit: 1.28900
  • 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

As we see that the range of movement is quite big here. This is what happens when a pair is on a strong trend. Eventually, this brings a better reward. With an entry, we have to pay spread from 3 to 12 Pips. If the range of movement is tiny, it gets tough to make a good profit after paying the spread. On the other hand, Spread does not bother us that much when the movement is big like this. Thus, try to choose a chart that has a good range of movement.

GBPUSD Price Action Analysis – 19th July 2018

The post GBPUSD Price Action Analysis – 19th July 2018 appeared first on Advanced Forex Strategies.



from Advanced Forex Strategies

CryptoCurrency News: Government-Backed Blockchain Trade Platform Launches in Singapore



A digital services firm owned by a Singapore government agency and a major port operator has launched a blockchain platform for cross-border trade.

via CoinDesk

bitcoin faucet

Popular Posts