EURCHF - At All Time Lows!EURCHF is back down to all time lows. I'm not just waiting for a bullish breakout to the upside to go long with this pair.
Alltimelows
Notable Pause in Price Action At an 88.6% RetraceThere is not much of a pattern here we are basically trading at all time lows but we are at a point where it can only literally lose all of it's value if it goes lower and a stop loss while fairly wide can be easily applied and justified when thinking of the potential reward. I believe that if it holds these lows that it will retrace back up to the 88.6% retrace from high to low and the return on such a trade would greatly outweigh the wide potential risks so long as one is prepared to potentially lose 42% of what they decide to put down on this trade here in anticipation of a potential gain that could be in the thousands of percentage points.
I did impossible: found a coin that hasn't pumped yet.I consider myself more like a long term investor but here I see a clear short-term trade that can be made. You can buy now or wait for the confirmation above $23. SL is at $20.6. Sell as much you wish in the clear resistance areas. I personally plan to sell most of it at $70.
DGB... A Security?Will the SEC's decision on a Bitcoin ETF put the breaks on the bear market? If we see an ETF, will this kick start the next bull run??? Will DGB be classed as a security??
This will be one to remember which ever way this goes.
Bullish on DGB...
2017 predictions on Crosses - GBP/NZDFX:GBPNZD
This one is has been in a free fall ever since the Brexit vote. It has broken every possible support and is trading at all time lows.
For the next year I really don’t see anything good for pound so I am only looking for a downside continuation, the only question is where to sell...
One possibility is the former channel support as the new resistance which has served as such plenty of of times these past 7 years. So if the test coincides with with a test of falling trendline (green) around 1.8300-1.8400, I would say it’s probably the best entry we can get 2017.
I would of course prefer a deeper retracement. A break of the trendline to test the former rising trendline (red) as the new resistance and then try to short the pair around the psychological 2.0000 level, but as I said, at least at the moment, I really don’t see it happening in 2017.
As far as the targets go - when you are creating new all time lows the best strategy is to simply use a trailing stop and ride it as long as you can, cause you'll never know how far can it actually go. I mean - it can drop to 1.5000 maybe 1.2500, but just as well it can start some kind of prolonged consolidation period at these lows right here and never really slip below that 1.6700 level.
Just look at the EUR/USD for the past two years. Even when the fundamental differences between the two currencies grew exponentially, it was just sitting there in the consolidation mode, ranging between the support and resistance.
So yeah! This could be a great opportunity, but its important to keep your expectations in check.
For full 2017 predictions on crosses click here
