Noob Currency Trader: 08/09/18

Thursday, August 9, 2018

CryptoCurrency News: World Bank Taps Australia's CommBank to Issue Its First Blockchain Bond

The Commonwealth Bank of Australia has been chosen by the World Bank Group to help issue a bond on a blockchain.

via CoinDesk

[FOREX TIP] NZDJPY Price Action Analysis – 10th August 2018

NZDJPY took a huge Bearish move on the H4 chart yesterday. All the intraday time frames are with Bear at the moment. Today’s first H4 candle came out as a Bearish candle. The current candle seems to be a corrective candle so far. If the current candle ends up being an Inside bar and later we get a downside breakout at today’s lower low, then the price would head towards the South by offering us a short entry. Let us have a look at the H4 NZDJPY chart.

NZDJPY Price Action Analysis – 10th August 2018

Look how the pair moved yesterday. Then today’s H4 Bearish Engulfing candle. This means the trend and today’s price action both are Bearish. The current candle has to close within the first candle. If it really does, then an H1 breakout at the level of 73.070 would lead the price to go towards the level of 72.315. Let us have a look at the summary of the trade…

Sell Stop Order: 73.070
Stop Loss: 73.535
Take Profit: 72.315
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

This is the first week of August. Most of the pairs looked good in this week considering the first week of the month. As we expected that the first three months of the last quarter would be good for the market since it would have more liquidity. It seems that the big boys have come back in the market again. This is what we the retail traders love to see. Let us hope that it keeps going like this to finish this year.

NZDJPY Price Action Analysis – 10th August 2018

The post NZDJPY Price Action Analysis – 10th August 2018 appeared first on Advanced Forex Strategies.

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CryptoCurrency News: Bitcoin's Open Secret: Lightning Is Making Better Online Payments Possible

An influx of lightning apps are mostly silly, but they demo a serious point: the tech enables bitcoin to compete with traditional payment rails.

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CryptoCurrency News: Bulls Get Relief as Bitcoin Price Beats $6.5K Resistance

Bitcoin's price rose above $6,500 today, offering some respite for the badly battered bulls.

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CryptoCurrency News: Google Search Can Predict Bitcoin Price Increases, Study Finds

A study published by the National Bureau of Economic Research suggests that cryptocurrency markets do not behave like traditional financial ones.

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CryptoCurrency News: Overstock Blockchain Spin-Off Raises $134 Million – With $370 Million More Committed

Overstock.com subsidiary tZero raised $134 million in its security token offering, the company said Thursday.

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CryptoCurrency News: Binance Offers First Look At Planned Decentralized Crypto Exchange

Cryptocurrency exchange Binance unveiled the platform's first look at its upcoming decentralized exchange (DEX) on Thursday.

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CryptoCurrency News: Ethereum Classic Is Down 30% Since Its Listing on Coinbase

The price of Ethereum Classic (ETC) is down more than 30 percent after going live on the Coinbase exchange just two days ago.

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CryptoCurrency News: Attacker Installs Crypto Mining Malware on Over 170,000 Devices

Coinhive was installed on more than 170,000 devices in Brazil last month.

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CryptoCurrency News: Wikipedia Competitor Everipedia's Blockchain Is Now Live

Blockchain-based Wikipedia competitor Everipedia launched its mainnet on Thursday, based on the EOS network.

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CryptoCurrency News: Blockchain Research Institute Report Calls for Crypto Regulation Clarity

Recently, BRI published a report authored by Tapscott recounting the takeaways from a roundtable discussion held in May on cryptocurrency regulation.

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CryptoCurrency News: Court Sides With Crypto Exchange Despite Allegation It Violated China Ban

A Chinese cryptocurrency trader who was sent bitcoin in error must repay an exchange even if it broke domestic rules, a Beijing court has ruled.

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CryptoCurrency News: Microsoft Rolls Out 'Proof-of-Authority' Ethereum Consensus on Azure

Microsoft has rolled out an additional consensus mechanism for clients building ethereum-based apps on Azure that does away with mining.

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CryptoCurrency News: 94 Companies Join IBM and Maersk's Blockchain Supply Chain

TradeLens has attracted a wide variety of entities ranging from port operators and customs authorities to logistics companies and even rival carriers.

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CryptoCurrency News: Bitcoin Price Looks to Defend $6K as Sell-Off Slows

Bitcoin could defend the support at $6,000 as the cryptocurrency is closing on oversold conditions as per the technical charts.

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CryptoCurrency News: GMO's Cryptocurrency Business Made $2.3 Million Profit in Q2

After a net loss reported in Q1, the Japanese IT giant says it made an 11 percent profit through its crypto business this last quarter.

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CryptoCurrency News: Barclays Is Pitting Blockchains Against Each Other (For a Cause)

The bank's DerivHack event will attempt to suss out which of the major enterprise DLT platforms works best for derivatives life cycle smart contracts.

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[FOREX TIP] Gold Price Action Analysis – 9th August 2018

GOLD is at a very critical point. After being Bearish for a long time on the Daily and on the H4 chart, it has had some correction. The price is right at the Resistance of a Down trending Trend line. If the price produces an H4 Bearish Engulfing Candle and later we get an H1 breakout towards the South, then it would be rewarding to go short on Gold today. Let us have a look at the H4 GOLD chart.

Gold Price Action Analysis – 9th August 2018

The price had a rejection from the level of 1215.30. This is a Dynamic Resistance. It is the level of a Double Top as well as the Resistance of that down trending Trend line. If the price produces an H4 Bearish Engulfing Candle right from that level and we get an H1 breakout at the level of 1205.95, then the price would head towards the level of 1190.75 without having that many pauses. Let us have a look at the summary of the trade…

Sell Stop Order: 1205.95
Stop Loss: 1215.30
Take Profit: 1190.75
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 price is at a Dynamic level since it has two levels of Resistances. We are waiting for a downside breakout since the overall trend is Bearish. However, it could make a breakout towards the upside as well. Then, we should only look to go long on Gold in coming days. One thing for sure that Gold is to make a decision and that will be done soon.