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Category Archives for "Market Analysis"

Mar 11

BTCUSD WEEKLY UPDATE | 3/10/2019

By Margin Hero | Market Analysis

Bears Coming to Play?

I hate to be the bearer of bad news, but I think Bitcoin will be running out of steam and we will see bearish continuation in the next few weeks. I currently exited all long with an average of $4065. BTC may make another upwards thrust to test the 200MA on the daily ($4900); however, the risk to reward just isn’t there since I am anticipating a BIG MOVE downwards.

Don’t Worry, Be Happy!

Don’t get mad at me with being bearish, look at this as an opportunity to buy more at a great discounted price. The target I see is right around $2730-$2840. Keep in mind we can wick down to $1800 depending on how volatile the drop is.

I DO NOT have any bids placed as I want to see confirmation of support before buying back my stack.

My Pans With Crypto:

So how do I plan to play BTC? I am waiting for confirmation of rejection, and then I will open a small short position.

Trade safe out there, and remember, the bottom is near!

Mar 11

EURUSD WEEKLY UPDATE | 3/10/2019

By Margin Hero | Market Analysis

SUMMARY FROM LAST WEEK

We had one hell of a ride last week. Hope some of you got in on that call where we shorted EURUSD from 1.14070 all the way down to 1.12086. It was a perfect 10R:R, and nearly a 200 pip gain!

CURRENT THOUGHTS

So what’s next for EURUSD? Well, I am seeing a potential stop sweep where we push down towards 1.117. I have longs stacked around there to play a quick bounce, and this next push down should give us the bullish divergence we want to see.

HIGH RISK DISCLAIMER:

Remember, this is high risk and is against the current bearish trend. This is only recommended for more experienced traders who have quick fingers and can get out fast when directions change.

The position I plan to take will be a lot smaller since it is a counter trend trade, and I am only risking 1% of my overall account value.

If you decide to play this week, keep your stop tight and keep moving it up as price tip-toes up to our take profit

PROFIT TARGETS:

If everything goes according to plan, I am anticipating a bounce toward 1.13279 (.618 Fib), which should be an easy 50 pip gain for this week.

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