Noob Currency Trader: 05/01/20

Friday, May 1, 2020

CryptoCurrency News: Bitfinex, Tether Seek Subpoenas Across US in Hunt for Missing $800M

Bitfinex and Tether’s parent company wants to question employees of at least three U.S. banks about Crypto Capital – Bitfinex’s payment processor – accounts and holdings in an effort to recover more than $800 million.

via CoinDesk

CryptoCurrency News: Bitcoin Miners Usually Create 6 Blocks per Hour. They Just Banged Out 16

In a significant deviation from the norm, bitcoin miners just produced 16 blocks in 63 minutes.

via CoinDesk

CryptoCurrency News: Blockfolio Quietly Patches Years-Old Security Hole That Exposed Source Code

The security vulnerability, which appeared in older versions of its application, could have allowed a bad actor to steal closed source code and possibly inject their own code into Blockfolio’s Github repository and, from there, into the app itself.

via CoinDesk

CryptoCurrency News: Market Wrap: May Opens With Equities Lower While Bitcoin Steady at $8.7K

Traditional markets continue to get whalloped on terrible economic numbers while bitcoin holds ground ahead of the halving.

via CoinDesk

CryptoCurrency News: Interest in Gold-Backed Token Trading Grows Amid Supply Disruptions

On Thursday, hourly trading volume in Tether Gold climbed to over $13 million, up from roughly $1 million the day before.

via CoinDesk

CryptoCurrency News: Why the Dollar Has Never Been Stronger or More Set Up to Fail

With trillions in money printing, the dollar should be getting weaker. Instead, it’s stronger than ever. What gives? The first of a four-part microseries on the battle for the future of money.

via CoinDesk

CryptoCurrency News: What We Can Learn From Telegram’s Token Troubles

Telegram's success blinded investors to the risks inherent in building blockchains and raising a token sale.

via CoinDesk

CryptoCurrency News: Blockchain Bites: Bitcoin Whales and American Buyers May Be Driving This Rally

Amid this market rally, Bitcoin wallet startups report an uptick in users and profits. Get the latest bite-sized news here.

via CoinDesk

CryptoCurrency News: Money Reimagined: COVID-19’s Lessons in Innovation

Though its impacts are deadly, the coronavirus is a product of an advanced innovation ecosystem. We can learn from its ability to mutate and adapt.

via CoinDesk

CryptoCurrency News: Bitcoin News Roundup for May 1, 2020

Bitcoin beats the markets while wallet demand rises. It's CoinDesk's Markets Daily podcast.

via CoinDesk

CryptoCurrency News: American Buyers Are Fueling Bitcoin’s Rally, Data Suggests

Spot and futures markets reflect the strong bullish sentiment of American investors.

via CoinDesk

CryptoCurrency News: Overstock Wants to Trade Traditional Stocks on tZERO Crypto App

tZERO Crypto wants to become the first platform approved to trade crypto, digital securities and traditional stocks on a single app.

via CoinDesk

CryptoCurrency News: First Mover: Tezos Led Crypto Market With Twice Bitcoin’s Gains in April

Tezos is outstripping the usual crypto leaders on the outside track, possibly down to an increase in the number of exchanges offering staking as a service.

via CoinDesk

CryptoCurrency News: Bitcoin Rises Back to $8.8K Even as Futures on U.S. Stocks Drop

While bitcoin is rising so far on Friday, the price rally looks overstretched and gains may be transient.

via CoinDesk

CryptoCurrency News: Argo Blockchain Sees Revenues Soar 11x After Mining 1,300 Bitcoin in 2019

Bitcoin mining firm Argo Blockchain said an 11-fold increase in revenues shows pivoting away from mining-as-a-service was a good move for the company.

via CoinDesk

CryptoCurrency News: Why Crypto Exchange OKCoin Jumped Through Hoops to Get Licensed in Japan

While Japan is known for its retail market, crypto exchange OKCoin believes the country’s strict licensing regime will attract institutional investors.

via CoinDesk

[FOREX TIP] Trend Scalper Indicator for MT4 | Free Download

Auto Channel Indicator is a neat indicator that is designed to help you draw reliable trading channels so that you can easily identify solid trading range on various Forex pairs across different timeframes. Channel is one of the more reliable trading tools, which is widely used by financial traders all over the world. in their trading regardless of whether they are price action or indicator traders. Channel can be used as guidance for support and resistance.

Since support/resistance is the most basic thing of trading, financial traders cannot ignore it. Once we can draw a channel in the right way, it gets easy for us to take a trading decision. However, it needs practice, experience, and time to draw a Channel on the chart.

Auto Channel Indicator for MT4

We are happy to share with you an indicator that is made for MT4, The Auto Channel Indicator which draws the channel by itself. It spots out at least two higher highs and one lower low to draw an ascending channel.

The channel is drawn on two higher highs and one lower low. The upper band is the level of resistance and the lower level is the level of support. The line in between is the median line. In an ascending channel, the buyers are to look for a bullish reversal candle at the level of support to go long.

Look at the last candle on this chart. It comes out as a strong bullish reversal candle, the buyers may trigger a long entry right after the candle closes by setting stop loss below the level of the channel’s support (lower band).

Auto Channel Indicator for MT4

Simple Entry and Exit Rules that you can follow…

Exit: Traders take the exit once the price reaches the upper band.

In a bearish market, sellers to take entry upon a bearish reversal candle at the level of resistance (upper band).

Exit: The sellers are to take an exit once the price reaches the lower band.

A trader may consider buying at the level of support in a descending channel or a seller may sell in an ascending channel too. This may not offer a lucrative risk-reward all the time. If it does, then there is no harm in buying on a descending channel or selling in an ascending channel.

If you like this strategy, then you have to check out one of our most favorite reversal strategy, The Powerful Super Forex Launcher.

Recommended Time Frames

Technically speaking, you can use this MT4 indicator for all time frames. However, the shorter the time frame, you will see more fluctuation and possibly more whipsaw which may cause small losses that can eat up your portfolio quickly. We recommend that you use higher time frames like the H4 for better consistency.

Click Here for Your Free Download of Auto-Channel-Indicator.ex4 file

Watch this video on How to trade Channels…

FREE Download

Visit our Free MT4 Indicator Download page.

We hope you have enjoyed this post as much as we have created this strategy post for you.

Good luck and thank you for your readership.

The post Trend Scalper Indicator for MT4 | Free Download appeared first on Advanced Forex Strategies.

from Advanced Forex Strategies

[FOREX TIP] GBP/JPY Daily Price Forecast – 1st May 2020

GBP/JPY Daily Price Forecast – 1st May 2020

This trade idea was generated by our powerful Elite Swing Trader System on an H4 time frame.