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Day Trading or Swing Trading, Which is Preferable?

 

Day trading or swing trading? I find that to be a very loaded question.

 

New traders are always curious to know which trading style is preferable. Although both trading styles have their distinct advantages and disadvantages, the important thing to find out is which of the two best suits your personality.

 

In this article, we are going to have a quick look at the trading methods and what they entail.

 

Day Trading:

 

Day trading involves opening and closing multiple trades within a single trading day. In this trading method, traders have to stay glued to their screens for hours on end, monitoring trend developments, and executing multiple trades. Most day traders do nothing else with their time but trade the markets.

 

One downside of this is that it always causes “burnout” in many traders after a few weeks or months. Keeping up with the demands of day trading can be very taxing and this leads to the burnouts seen in many day traders.

 

Day trading also requires traders to have sharp reflexes in dealing with the financial markets. Since day trading involves opening and closing multiple trades in a relatively short period, traders need to be quick at making the most of the little period and grab as many profits as possible. This can only be achieved if the traders have quick market reflexes. An extreme kind of day trading is ‘Scalping’ which involves executing and closing several dozens to hundreds of mini trades within a single day. The precision and speed of these traders in action can be thrilling to watch.

 

That said, older populations (40>) may not be able to keep up with this trading style as many people in that age group have a short attention span and lack quick/witty reflexes. Also, this age group might find it very difficult to sit for long hours glued to their screens.

 

On a brighter note, one of the major benefits of day trading is that you don’t get to be worried about “overnight” occurrences that could stop you from your trade positions since no trade is allowed to stay open beyond a day. This means that risk exposure is greatly diminished.

 

Swing Trading:

 

Swing trading generally involves opening and holding trade positions anywhere from 2 days to a few weeks. Swing traders, unlike day traders, leave trades overnight meaning that there is greater risk exposure. However, this risk exposure opens up the possibility for significantly larger profit opportunities compared to day trading. Seems like a fair trade-off doesn’t it?

 

Also, swing trading allows traders significantly less “screen time” as they can place trades and practically not monitor the progress for days. Many swing traders monitor the markets for as little as 30 minutes a day to determine what their next possible move could be.

 

Furthermore, swing trading lets traders ride profit trends for a longer period.

 

Finally, the preferable trading style depends greatly on your personality. So, spend some time exploring both methods and discover which suits you best.

 

Source: https://learn2.trade 

 

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BATTLE STYLES IN THE WAR ROOM

Trading is a highly competitive human endeavor, but it is also highly rewarding. The financial markets can adeptly be compared to a battlefield; therefore a trading room can be likened to “a war room,” where you engage the markets. Victorious soldiers of the financial markets are those who make average gains that are bigger than average losses. These are successful traders

Yes, the key is that, we make average profits whose total is more than the total of average losses. That is the ultimate secret – make more money than you lose.

No matter the trading methodology/strategy/system you use, they will fall into any of the 5 categories listed below.

Battle styles – trading styles

SCALPING
This is a trading style that makes you take advantage of small movements in price. Once your position turns into profit, you exit the market immediately. Traders who employ this style usually cut their trades once they gain anything from a few to several pips. They stay in the markets for only a few to several minutes in most cases; and they rarely stay in the market for more than a few hours at most. If a speculator makes 10 USD per clean pip, and they gather around 3 to 5 pips per trade, you can imagine how much they will make if they do 10 trades per day.

INTRADAY TRADING
Intraday means “within the day.” So intraday trading is a style of trading that makes you enter the market and get out within the same day. It is also called DAY TRADIING. Doing this, you open a position and close it within a few hours and 24 hours maximum. As long as you open trades and close them within a day, you’re an intraday trader or a day trader. Intraday trading enables you to possibly catch from tens of pips to hundreds of pips in a day, depending on the condition of the market.
istockphoto-157562003-170667a.jpgSWING TRADING
This is a trading style where a financial instrument is traded within one day to several weeks. A swing trade can remain open for over one day to a few days; or from a few days to several weeks. When you open a trade in a day and you don’t close it within the same day, then you become a swing trader. Capitalizing on the market ‘swings,’ means you want to potentially reap from tens of pips to thousands of pips within days or weeks.

POSITION TRADING
Position trading is a regular trading method in which you open a trade and leave it for a minimum of one month. The trade(s) can remain open for a few to several months or a few years. This kind of stance enables patient market players to make as much gains as possible from a protracted bias, whether bullish or bearish. Transitory noises in the markets are thus disregarded. A position trader that went long on AUDUSD in late March 2020 and held it till the end of July 2020, would have made a clean profit of at least 1,450 pips (roughly 14,500 USD if using standard lots).

INVESTING
It is simply a style where you allocate money to some financial instruments with the hope of returns in future. An investment may last from a few years to decades, even centuries. If you invested in Nasdaq 100 (NDX) in 2003 and held it till now (year 2020), you would have gained approximately 1,000,000 points (yes, one million points), and this seems like the beginning. You know what a gain of a mere 100 points looks like in terms of US dollar, if you use 1.0 lots. The best way to make colossal gains from shares, indices, precious metals, cryptos etc, is to hold them forever, irrespective of noises, bearish corrections and pullbacks along the way. After all, no investment is worthwhile unless it appears in your will (to be acquired eventually by your dependents and/or beneficiaries).

Source: https://learn2.trade 

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GOLD TO END NEXT WEEK WITH A BANG

Gold (XAU/USD) jumped to a fresh all-time high, around the $1,984 level in the early European session, before retreating lower.

Following yesterday’s profit-taking-triggered slide to the $1,940 area, the yellow metal was quick to bounce back and is set to end the week in a grand style. The bull run marked the tenth consecutive bullish session in the past eleven days and was mainly bolstered by the dominant bearish sentiment surrounding the US dollar.

Worries over the dwindling prospects for an economic recovery amid the Coronavirus saga continued to exert strong bearish pressure on the USD. This worry was reignited following the release of the US Q2 GDP report yesterday, which indicated that the economy contracted by a record 32.9% annualized pace. This coupled with the political tussle over the next round of stimulus measures further weakened the USD and bolstered the dollar-denominated commodity.

This comes on the heels of the dovish FOMC comments earlier this week coupled with the prevailing drop in the US Treasury bond yields, which further strengthened gold’s bullishness.

Moving on, market participants will be looking at the US economic docket—which features the Core PCE Price Index, Personal Income/Spending data, Chicago PMI, and Revised Michigan Consumer Sentiment—for clues to trading opportunities today.

IMG_8366.png XAUUSD – Hourly Chart

Gold (XAU) Value Forecast — July 31

XAU/USD Major Bias: Bullish

Supply Levels: $1,983, $1,990, and $2,000

Demand Levels: $1,970, $1,960, and $1,940

Gold has been progressing with our projections so far and is nearing the $2,000 target more and more. Immediate support can be found at the $1,970 level, however, further retrace will be strongly supported by the $1960 region, which happens to be a confluence of a support line and our ascending trendline.

At this level, gold needs a bounce from one of these support lines to send it once again on its journey to the $2,000 level, but first, we need to clear the $1,983 resistance.

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GBPJPY REGAINS TRACTION AND MOVED TO HIGHS AT 139.00 LEVEL

GBPJPY Price Analysis – August 5

The GBPJPY regains traction upward despite being taken aback by a withdrawal near the level of 139.00 and rapidly retreated in the early North American session around 45 pips. The GBP buyers have largely shaken off fears about the second wave of coronavirus infections and anxiety of a no-deal Brexit.

Key Levels
Resistance Levels: 144.95, 141.24, 139.74
Support Levels: 136.62, 131.75, 129.29
GBPJPY-Daily-August-5.pngGBPJPY Long term Trend: Ranging
Given the factors impacting it, the GBPJPY cross failed to make it through the 139.00 level, requiring investors sufficient vigilance to soften their bullish bias. That makes it safe to wait for some follow-through intensity beyond last Friday’s peak, around the 139.20 level, to validate any bullish bias in the medium to long term.

The GBPJPY cross may then target to break monthly swing high resistance near the region of 139.74 in June and intensify the traction towards the main psychological mark of 140.00. Resolute breach of 147.95 level, nevertheless, may affect the possibility of bullish long-term reversal. Validation of the emphasis would then be shifted to the resistance level 156.59.
GBPJPY-4-Hour-August-5.pngGBPJPY Short term Trend: Bullish
At this level, the intraday bias in GBPJPY stays neutral. Yet more increase is in view as long as the support level switched to 136.62 resistance level persists. On the upside, a solid breach of 139.74 levels may restore the entire increase from 123.99 to 135.76 levels from 129.29 at 141.24 levels.

Additionally, to extend the consolidation trend from 139.74 level, a breach of 136.62 levels may turn intraday bias back to the downside. Nonetheless, if the price continues to exit with a bullish continuation trend beyond the level of 138.68 then continuation to the horizontal support at the level of 139.20 is probable.

 

Source: https://learn2.trade 

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AUD/JPY ATTEMPTS TO RESUME UPTREND BUT FACES REJECTION AT LEVEL 77.00

Key Resistance Levels: 74.00, 76.00, 78.00
Key Support Levels: 58.00, 60.00, 62.00

AUD/JPY Price Long-term Trend: Ranging
The AUD/JPY pair is on a sideways trend. The pair fluctuates between level 73.00 and 77.00. The price tested the resistance line in July but was repelled. It fell to level 75.00 and resumed a fresh uptrend. This has been the market scenario. The pair is yet to trend,.

AUDJPY-Learn2trade.png AUD/JPY – Daily Chart

Daily Chart Indicators Reading:
The 21-day SMA and the 50-day SMA are sloping horizontally indicating the sideways move. The pair has fallen to level 60 of the Relative Strength Index period 14. The price is in the uptrend zone but above the centerline 50.

AUD/JPY Medium-term Trend: Ranging
On the 4-hour chart, the pair is fluctuating and consolidating above level 74.00. In July, the price rose to level 76.50 but fell back to level 75. AUD/JPY has since resumed a sideways. In August, the pair tested the resistance and price fell to level 75.00.

4-hour Chart Indicators Reading
The AUD/JPY pair is currently below 80% range of the daily stochastic. It indicates a bearish momentum. The price action is indicating a bullish signal. The SMAs are sloping sideways move indicating the sideways trend.

AUDJPY-Learn2trade4-Hour.png AUD/JPY – Daily Chart

General Outlook for AUD/JPY
The AUD/JPY pair is currently fluctuating between levels 73 and 77. Since June, the market has continued to fluctuate between the price range. The key levels of the price range are yet to be broken.

 

Source: https://learn2.trade 

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USD/CAD FACES REJECTION AT LEVEL 1.3350, MAY REACH THE LOW OF 1.3200

Key Resistance Levels: 1.4200, 1.4400, 1.4600
Key Support Levels: 1.3400, 1.3200, 1.3000

USD/CAD Price Long-term Trend: Bearish
The Loonie is in a downward move. The price is retesting the resistance line of the descending channel. A downward move will follow if price faces rejection at the resistance level. The pair is trading at level 1.3290 at the time of writing.

USDCAD-Learn2trade-1.png USD/CAD – Daily Chart

Daily Chart Indicators Reading:
The 50-day SMA and the 21-day SMA are sloping downward indicating that the market is falling. The Loonie has fallen to level 38 of the Relative Strength Index. The pair is approaching the oversold region of the market. The price is in a bearish momentum.


USD/CAD Medium-term Trend: Bearish
On the 4-hour chart, the pair is in a bearish trend. The Loonie is falling after facing rejection at level 1.3350. A green candle body tested the 0.786 Fibonacci retracement level. The Loonie will fall and reach a low of 1.272 Fibonacci extension level or level 1.3200 price level. At that level, the market will reverse and return to level 0.786 retracement level where it originated.

USDCAD-Learn2trade-4-Hour-1.png USD/CAD – 4 Hour Chart

4-hour Chart Indicators Reading
Presently, the SMAs are slowing downward indicating that the market is falling. The Loonie is below 40% range of the daily stochastic. It indicates that the market is in a bearish momentum. The Loonie is approaching the oversold region.

General Outlook for USD/CAD
The USD/CAD pair is falling. According to the Fibonacci tool, the market will fall and reach a low of 1.3200. At that low, price will resume an upward move. However, the reversal will not be immediate.

Source: https://learn2.trade 

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HOW DO I CONTROL MY TRADING RISK?

RISK CONTROL TECHNIQUES IN TRADING

Risk is ever present in trading, just as it is in other areas of life. The good news is that the risk inherent in trading can be controlled effectively, thus enabling you to be permanently triumphant.

No-one on earth can trade repeatedly without any loss, no matter the trading strategy adopted. If you had a speculative method that could not lose a single trade, all the money in the world would eventually go to you, and that would be completely unfair. If there was no possibilities of losses in the market, then the market would not exist at all.

For you to make money in the markets, you need to be smarter than many other traders, and employing effective risk control methods will also give you a huge edge over other traders.

For every good strategy, there are periods of losses and there are periods of winnings. There would be a period when everything you touch in the market will become gold; whereas there are periods when the market will let you know that you are not hot, even if you think you are. What can you then do?

stock-market-collapse-913107__340.jpgRISK CONTROL METHODS

Small Lot Sizes:
Risk as small as possible per trade. Go for small, but consistent profits, not home runs. Betting big pays richly if you win, but what happens if you lose. There is no 100% guarantee that your next trade will be a winner, and you do not want to lose big, in case you are wrong. The trick is to lose as small as possible during a losing streak and gain as much as possible during a winning streak (good risk to reward ratio). Small losses are easy to recover: big losses are not. So make sure you do not have large losses in the first place. With an account balance of 1000 USD or less, I use 0.01 lots. With an account balance of $20,000, a position size of 0.2 lots would be used. This is conservative, but it has worked well for me.

Stop Loss:
In case a trade is not going your way, this is an order that takes you out of the market at a predetermined price level. A stop loss should not be too wide, so that normal market fluctuations will take you out of the market prematurely. A stop loss should not be also too wide, so that there would not be a painful loss in case price decides to go protractedly against you. An optimal stop is thus better (not too wide and not too close to the current price). Some traders hate stop loss because one can sometimes be taken out of the market and then see price going in one’s direction. Nonetheless, there would be times when stops will save your capital from total ruin, some market may go decidedly against you and will not come back to your entry level again (not in your lifetime). So stops are your life insurance ploicy. Get stopped out at a small loss and look for next opportunities.

Take Profit:
That is the target you set for your trade – a stop put in place to take you out of the market once price reaches a certain level in your favor. Even when you are not online and your trading platform is closed, Take Profit will close your profit for you once price reaches your targeted level. The downside, is that price may sometimes reverse before it reaches your target; or price may continue going in your direction once it has taken you out, albeit with a profit.

Breakeven Stop:
This is a tool that helps you remove the risk on a trade. Let us say you place a “sell” trade on Gold (XAUUSD) at 2060.06, and place your Stop Loss at 2085.00, and Gold begins to trend downwards, now trading at 1950.63. You will then adjust your Stop Loss to 2060.06, which is your entry price. That is breakeven stop. You have removed the risk of loss on that trade, and the worst that can happen is for you to be stopped out with no profit and no loss, in case the market reverses against you. If the market does not reverse, you will then enjoy your risk-free trade!

businessman-3042273__340.jpgTrailing Stop:
A trailing stop can be defined as a modification of your Stop Loss that can be set at a defined percentage or pips amount away from the market price. In June and July 2020, USDCHF dropped by over 500 pips. If I entered the market at 0.9607,and price later moved to 0.9360 (over 240 pips), I might want to lock some of the profits while riding the bearish trend further. Therefore I would set a trailing stop of 80 pips or 110 pips. Should the market continue moving in my favor, I would make more gains, as more of the profits are locked, until my target is hit or I close the trade myself. In case of a reversal against me, I would be taken out of the market, but some of the profits would be salvaged as well.

Staying Aside:
Another great way to control your risk and reduce drawdowns is to know when to be in the market and when not to be in the market. There are months of the year when trend following works and there are months when it does not work. There are times when mean-reversion trading works and there are times when it does not work. Recognize when your system is temporarily out of sync with the markets, and stay out of the market. Know when you are supposed to be in the market, and when you are not supposed to open trades. This comes only with years of experience.

Conclusively, there are no perfect risk control tools, for each tool has its pros and cons. But when you employ the risk control measures explained above, you will enjoy everlasting success in the markets. Sure, there would be occasional, transitory setbacks, but it would be easier for you to recover them eventually and surge ahead with more profits.

It is not easy to be green… May your trades be green.
 

Source: https://learn2.trade/ 

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ETHEREUM PRICE ANALYSIS:ETH FACES REJECTION, MAY REVISIT $400 SUPPORT LEVEL

Key Highlights
Ethereum faces rejection at $440, may continue selling presure
Ethereum has the chance of reaching its target price of $480

Ethereum ( ETH) Current Statistics
The current price: $412.58
Market Capitalization: $46,308,157,897
Trading Volume: $12,328,754,634
Major supply zones: $280, $320, $360
Major demand zones: $160, $140, $100

Ethereum (ETH) Price Analysis August 19, 2020
Ethereum is on a downward move as it faces rejection at the $440 overhead resistance. Buyers have thrice attempted to break the $440 resistance but to no avail. Each time ETH faces rejection at the $440 resistance; price will fall to $420 support and resumes a fresh uptrend.

ETH-Learn2trade-4.png ETH/USD – Daily Chart

The price has continued its downward move. After falling to the $420 support, it retested the $430 resistance and continued selling pressure. Ethereum risks falling to the low of $375 if price continues its fall. On the upside, a break above $440 will propel price to reach a high of $480.

 

ETH Technical Indicators Reading
Sellers have pushed price below the support line of the ascending channel. The implication is that price may continue its downward move. However, if price breaks below the EMAs, the selling pressure will continue downward.

ETH-Learn2trade4-Hours-4.png ETH/USD – 4 Hour Chart

Conclusion
Ethereum is falling after facing rejection at the $440 resistance. It is unclear to which level price will fall and resume the uptrend. According to the Fibonacci tool, in the August 5 uptrend, a retracement candle body tested the 78.6% Fibonacci retracement level. It indicates that price will reach 1.272 extension level and reverse. If it reverses, it will return to the 78.6% retracement level where it originated.

Source: https://learn2.trade 

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NEW PATTERN SUGGESTS THAT BITCOIN COULD CRUMBLE TO THE $10,000 LEVEL IF BULLS DON’T ”SAVE THE DAY”

Bitcoin (BTC) and the rest of the cryptocurrency market have been swept by intense volatility in today’s session, with the benchmark cryptocurrency plunging below the key $12k support.

This drop saw BTC drop as far as $11,600 before bulls stepped in to prevent further declines.

Many analysts believe that this sharp decline has disrupted Bitcoin’s price action in the near-term. A bearish divergence has now emerged on Bitcoin’s ‘Renko’ chart, confirming the fresh BTC weakness. Worth mentioning is that the last time this pattern emerged, the cryptocurrency fell by $1,300.

If history repeats itself, which it usually does, Bitcoin could see a further extension of this correction. One analyst points out that if the crypto failed to bounce off its current level, we could see $10k again.

IMG_8413.png BTC – Hourly Chart

Key Levels To Watch

At press time, Bitcoin is trading at $11,770, roughly 1.6% down from its previous high.

As projected in our last analysis, the benchmark cryptocurrency dropped to $11,600 before finding a strong bounce from that area. After this, the crypto appeared to enter a consolidation range just like the one it was in before we broke the $12k mark.

Bulls are now tasked with reclaiming dominance above $12k again or risk handing over control to bears.

On the hourly chart, we can see that BTC needs to get back on top of the prevailing trendline and continue on that trajectory. Our MACD indicator shows that we are now heading into oversold conditions, making a bullish comeback more feasible.

If the $11,600 support caves, Bitcoin could head towards the $11,200-000 region fairly quickly. A further decline from that level should be strongly supported by the $10,800-500 pivot zone (colored in purple).

On the flip side, a good recovery from this level would send Bitcoin back into the $12,000’s and higher.

Total market capital: $365.6 billion

Bitcoin market capital: $217 billion

Bitcoin dominance: 59.4%

Source: https://learn2.trade 

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WHAT EXACTLY IS DEFI? ALL YOU NEED TO KNOW

Decentralized Finance (DeFi) is the fusion of traditional banking services with decentralized technologies like blockchain. DeFi may also be called Open Finance due to its inclusive format. It is important to note that the DeFi community is committed to creating alternatives to every financial service currently available. These services include items such as savings and checking accounts, loans, asset trading, insurance, and more.

Decentralized Finance (DeFi) Significance
DeFi continues to play an important role in the development of the financial sector for many reasons. First, DeFi expands the functionality and availability of money. Since all you need to participate in the DeFi sector is a smartphone, there is huge potential for the expansion of the global economy. Consequently, analysts consider this sector to be one of the most important ones in the crypto space at present.
download-7-4.pngThis commitment to developing the DeFi ecosystem is easy to understand. It is important to note that DeFi is the fastest growing sector in the blockchain. According to the latest reports, DEFI tokens consistently outperform their peers. Besides, since this time represents the beginning of this stage of integration, the market now has a unique opportunity to see an entirely new heyday of the industry.

Decentralized Applications (dApps)
DeFi relies heavily on Dapps. To understand the power of DeFi, you need to understand the concept of Dapps. Dapps are programs designed to run on decentralized networks. These networks can be blockchains, Tor networks, or distributed ledger technologies (DLT). A key component of these protocols is their decentralized nature. There are no central bodies, corporations, or agencies that oversee and approve the business functions of these applications.

Dapps require very little human intervention. Instead, these platforms integrate advanced smart contracts to optimize their business systems. Smart contracts are pre-programmed protocols that run when you receive cryptocurrency to your address. It’s important to note that smart contracts can perform a wide variety of tasks, from client approval to making payments.

In Conclusion
As the main systems of our society transform decentralization, the demand for DeFi Dapps will increase in the future. These next-generation applications continue to remarkably disrupt existing business systems.

Source: https://learn2.trade 

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WHAT IS THE MOST IMPORTANT THING IN TRADING?

Let us face it, the basic reason why people trade is to make profits. Our main goal is to engage the financial markets and end up making money by doing so.

Sadly, many traders are too obsessed with making money that they tend to ignore safety of their trading capital. They think of how much they can make per day, per week or per month, without thinking about how they can keep their capital safe in worst-case scenarios.

Yes, worst-case scenarios do happen, and ironically, they are the best-case scenarios for certain traders. These are some recent examples of such scenarios.

stock-2463798__340.jpgSubprime mortgage crisis of 2007 – 2010
Flash crash of May 2010
Major earthquake and subsequent nuclear fallout in Japan, 2011
Unprecedented volatility in CHF pairs, 2015
Unusual, transitory accelerated bear markets of 2020, which was followed by strong bullish rage. 2020
And the list can continue.

Each of these scenarios resulted in colossal gains for some traders as well as massive losses for some. It is known that the market has symmetry; when you go in one direction and make money, those who go in your opposite direction will see negativity in their positions. For instance, when the unprecedented volatility happened on all CHF pairs in 2015 (the reasons behind that are beyond the scope of this short article), I know a trader who just funded his account with 1000 USD that week and the capital went kaput. I also know another female trader who was having less than 30,000 USD in her account, only for her to wake up and see over 800,000 USD equity in her account!

That brings us to the most crucial thing, I know traders who survived these scenarios or even made huge gains from them. The reason is because they took the safety of their funds seriously.

When you have money in your account, you can trade and expect gains. However, if the money is gone, what would you use to make additional speculation? Nothing. The only option you will have is to fund the account again, so that you can resume trading.

Profit and risk

woman-2320581__340.jpgI do not have a guarantee that the next trade will win, or lose. There is no guarantee that worst-case scenarios cannot happen anytime, which may have effects on my trading capital. What someone calls a bad scenario may be a good scenario for you. What brings losses to others is what bring profits to you.

But I have assurance that once I take the safety of my account seriously and I apply prudent risk control techniques to my trading, bad scenarios cannot have adverse effects on me, and good scenarios will always bring satisfactory results.

If I plan to gain 500 USD on a single day, having only 2000 USD in my account, would I want to think of what could happen, should the market move against me? Would I want to accept 25% loss on a single trade? If I cannot accept 25% loss on that trade, then I need to reduce the amount at stake significantly further.

In reality I risk 2% or less on each trade.

The safety of your account is the primary thing: profits are only secondary. Preserve your account with risk management and profits will come naturally. Just ensure that you survive in the markets for the longer-term and you will have testimonies to share. You will have profits to show as a result of your victory.

No matter how good or skilled or experienced we are, we cannot avoid occasional losses, and that is what makes trading interesting as well as challenging. The aim of every triumphant trader is thus to have losses that are smaller than profits. If I make a total losses of 3500 USD in a month, and I also make a total profits of 8000 USD in the same month, then that is a profitable month for me.

Really, if you keep your money safe in the face of the vagaries of the market, you will eventually end up being richer than you currently are.

NB: Watch out for an article that reveals the single most important factor that will guarantee consistent profits, coming soon.

Source: https://learn2.trade/ 

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SILVER PRICE: XAGUSD BULLS RE-ATTEMPTS RESISTANCE AT $28.15 LEVEL

 

XAGUSD Price Analysis – September 2

Silver price increases past the $28.15 hurdle, up 0.45 percent on a day, during Wednesday’s session. The white metal leaps forward to the sixth month of gains also since it swung off in April. While the recent weakening risk-tone bias might contest the initial trajectories of the bullion, wide US dollar vulnerability and risk-safety chase retain the metal investors steady.

Key Levels
Resistance Levels: $30.00, $29.50, $28.15
Support Levels: $27.15, $26.50, $25.00
XAGUSD-Daily-Sept-2.pngXAGUSD Long term Trend: Bullish
Considering the sustained break of the $28.15 resistance level, the August 18 high near $28.50 level and $29.00 round-figures are on the bulls’ radars ahead of the previous month’s peak near $29.85 level. Meanwhile, the MA 13 level of $27.37 questions the short-term sellers.

If at all the bears manage to sneak in around the $27.15 level, the August 25 low near $26.50 level and August 12 bottom close to $23.25 level could regain market attention. Meanwhile, the $28.00 mark and MA 13 near $27.37 level may offer immediate supports to the metal ahead of an ascending trend line from March 19 in the event of a bear market.
XAGUSD-4-Hour-Sept-2.jpgXAGUSD Short term Trend: Ranging
Looking at the 4-hour chart, the price looks to be heading to test the resistance at $28.15 level. A break of this level could mean that the recent high of $29.85 level might be the target for the bulls.

If this fails then the $26.20 level may stay as big thorn in the side for the bears as it is a very stubborn support zone. The indicators are staying in the positive zone at the moment as the MA 5 and MA 13 exhibit intact upside traction. The Relative Strength Index is beyond its 50 midlines with more space for a move higher.

Source: https://learn2.trade 

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GOLD PRICE ANALYSIS — SEPTEMBER 2

Gold (XAU/USD) traded through yesterday’s North American session with a mild negative bias and was last spotted trading around the $1970 level.

The mild negative bias from yesterday continued into the European session on Wednesday after extending its overnight correction slide from its two-week highs. The bearishness was induced by a combination of factors.

A better-than-expected US ISM Manufacturing PMI data released on Tuesday rescued the US dollar (DXY) from its recent bearish journey, which in turn weighed heavily on the dollar-denominated commodity.

The dollar index was further strengthened by a decent pickup in the US Treasury bond yields. This, coupled with the growing risk appetite thwarted demand for the precious metal. However, plans by the Fed to keep interest rates lower for longer helped the non-yielding commodity from increased decline.

Gold’s price has now fallen closer to its weekly low which makes it advisable to wait for more downside extension before placing aggressive bets.

Moving on, market participants will be looking at the US economic docket today—which features the US ADP report—for clues. Meanwhile, the market’s focus remains on the incoming NFP data release scheduled for Friday.

IMG_8484.png XAUUSD – 4-Hour Chart

Gold (XAU) Value Forecast — September 2

XAU/USD Major Bias: Sideways

Supply Levels: $1977, $1983, and $2000

Demand Levels: $1940, $1923, and $1909

Gold has fallen back into our $1983 – $1960 pivot zone after it failed to take the $2000 yesterday when it recorded a high of $1992. The commodity looks like it is going to make another attempt at the $2000 target but might fail to break out of the current pivot zone as a result of the prevailing global risk sentiment.

That said, XAU/USD will likely remain in a consolidation range in the coming days with the $1940 support being a key level that could trigger a sell-off.

Source: https://learn2.trade 

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EUR/GBP RESUMES UPTREND, MAY BREAK ABOVE LEVEL 0.9250

Key Resistance Levels: 0.9200, 0.9400, 0.9600
Key Support Levels: 0.8800, 0.8600, 0.8400

EUR/GBP Price Long-term Trend: Bullish
The EUR/GBP pair is on an upward move since September 3. The price has broken level 0.9150 and reached a high of level 0.9250. The price reached the overbought region. Sellers may emerge to push prices downward. In the trend market, an overbought condition may not hold.

EURGBP-Learn2trade-3.png EUR/GBP – Daily Chart

Daily Chart Indicators Reading:
The 50-day and 21-day SMAs are sloping upward indicating the uptrend. The pair is at level 71 of the Relative Strength Index period 14. This indicates that price has reached the overbought region.

EUR/GBP Medium-term Trend: Bullish
On the 4-hour chart, the EUR/GBP pair is in an uptrend. The price is breaking the resistance at level 0.9250. A break above level 0.9250 will mean a further upward move.

EURGBP-Learn2trade-4-Hour-3.png EUR/GBP – 4 Hour Chart

4-hour Chart Indicators Reading
The 50-day SMA and 21-day SMA are sloping upward. It indicates the present uptrend. The pair is above the 80% range of the daily stochastic. It is in the overbought region of the market. The pair is now in a strong bullish momentum.

General Outlook for EUR/GBP
The EUR/GBP pair is now in an upward move. The pair is likely to move up as the current resistance at 0.9250 has been broken.

Source: https://learn2.trade 

                 

 

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USDCHF SUSTAINS SELLING BIAS TOWARDS SUB 0.9100 LEVEL AS THE US DOLLAR STAYS UNDER PRESSURE

USDCHF Price Analysis – September 11

USDCHF drops beneath 0.9100 level, down 0.25% on a day, during the European session on Friday. The USDCHF pair sustains selling bias falling sharply for the third day in a row. The Swiss franc holds onto recent strength after the ECB meeting as the US dollar stays under pressure.

Key Levels
Resistance Levels: 0.9902, 0.9467, 0.9200
Support Levels: 0.9050, 0.8845, 0.8639
USDCHF-Daily-Sept-11.pngUSDCHF Long term Trend: Bearish
As seen on the daily, USDCHF extended weakness below the moving average 5 and 13 while sellers are likely to keep the reins and target a retracement level of 0.9075 level during the immediate declines.

The 0.9050 area is the immediate support, and a break lower would expose the 0.8998 level that registers as the multi-year low. On the upside, now 0.9116 level is the immediate resistance followed by 0.9181 and 0.9200 levels.
USDCHF-4-Hour-Sept-11.pngUSDCHF Short term Trend: Ranging
Intraday bias in USDCHF stays slightly on the downside for validating the 0.8998 thresholds. A dip may restart a larger downtrend. Even so, the 0.9200 level break may revive the turnaround from 0.9902 to 0.8998 at 0.9321 levels to 38.2 percent retracement.

Continuous selling underneath the 100% forecast of 1.0342 to 0.9181 from 1.0231 at 0.9075 levels sets the stage for a forecast of 138.2 percent at 0.8639 levels. To be the first sign of short-term bottoming, a breach of the 0.9370 resistance level is required on the upside.

 

Source: https://learn2.trade 

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CHAINLINK (LINK) PRICE ANALYSIS: LINK CONTINUES ITS BEARISH PATTERN, MAY DROP TO $4 LOW

Key Highlights
LINK price making a series of lower highs and lower lows
The market may fall to $4 low if the support at $9.50 is breached

Chainlink (LINK) Current Statistics
The current price: $11.01
Market Capitalization: $3,853,295,393
Trading Volume: $1,244,310,906
Major supply zones: $18.00, $20.00,$22.00
Major demand zones: $8.00, $6.00, $4.00

Chainlink (LINK) Price Analysis September 18, 2020
Since August 15, LINK price has been making a series of lower highs and lower lows. This explains that the coin is in a downtrend. It will continue to fall except the bearish pattern is interrupted. Today, LINK is trading at $11 at the time of writing.

On the upside, if buyers push LINK above the $14 high, the coin will resume upside momentum. However, if buyers fail to sustain the upward move, the downtrend will continue. On the downside, the market is falling to the lower lows.
LINK-Learn2trade-5.png LINK/USD – Daily Chart

Chainlink Technical Indicators Reading
LINK is now in a descending channel. The coin will resume uptrend if price breaks and closes above the resistance line of the descending channel. In the same vein, the crypto will further decline, if price breaks below the support line of the descending channel. Meanwhile, the price action is indicating a bearish signal.

LINK-Learn2trade.png2-Chart.png LINK/USD = Daily Chart

Conclusion
On September 5, the coin has earlier fallen to the $9.50 low before making an upward correction. On September 5 downtrend, the retraced green candle body tested the 61.8 % Fibonacci retracement level. This implies that the market will fall to the 1.618 Fibonacci retracement level. That is a low of $4.

Source: https://learn2.trade 

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IS THERE ANYTHING GOOD ABOUT LOSS?

 

We trade to make profits, and therefore we hate losses and like profits. However, when we put losses in proper perspective, we would see it as occasional blessings in disguise. Losses can be a good thing if they make you evolve into a better and more effective trader. You will then be able to trade with peace of mind, knowing full well that risk is under control and you will gradually move ahead regardless of any temporary setbacks (loss trades) along the way.

The notes below are taken from comments of Joe Ross’ clients, who are traders themselves. Joe Ross has been trading for more than 60 years, and he is the founder of Trading Educators, Inc.

Please read and get enlightened. May your pips be green!
stock-exchange-broker-5119778__340-1.jpgWHAT EXPERIENCED TRADERS THINK ABOUT LOSS
“The reason they lose is due to sloppy trading habits. Traders lack discipline and self-control. That is what is so upsetting. We look at our trades and know we shouldn’t be in them, or we should be getting out, but we don’t. When we lose, we know we have only ourselves to blame. It’s as if the market is holding up a mirror of our trading behavior. I discovered by keeping a log of my trades and analyzing my losses, the majority of them come from my impulsive behavior and lack of self-control.”

“Overcoming oneself, impatience, greed, and insecurity are the biggest problems. That’s why, with almost every losing trade, it’s such a big deal. We end up saying to ourselves, ‘Oh no! Here I go again not sticking to my trading plan’ yet again! Our compulsive reactions are much like the smoker who can’t quit, or a dieter, who has that one last chocolate ……”

“Trading quietly, patiently, and detached would make most traders profitable, myself included. Thanks again for focusing on the real issues in trading.”

“What you wrote about losses, is an issue every trader has to come to terms with. I have an additional thought I’d like to pass on to those who might be interested. I know from doing some self-searching that what I discovered affects me.

“First of all, the money traded has a value; I worked hard for my money. Because I worked hard for them, they have a ‘sweat’ value, and a ‘time’ value. It might be only a USD 100 loss, but it has value. Secondly, and I’m not certain how best to explain this, but the risk of loss factor has an emotional component related to the results of previous trades.”

“My angle is slightly different from what Joe wrote, due to the inability to expect a profit. I mean that Joe and others trade with the knowledge they are right 60% or 80% or whatever it might be, so it is more easily possible for them to trade with positive expectations. Unless they’re screwing up their process, it is a numbers game, so make another trade. I’m not at that point of confidence which is perhaps necessary. I don’t know if the question was really asking for an answer, and I don’t offer my response as my excuse. The value in Joe’s writing is his providing evidence that there is possibly a more detached view separate from the specific outcome of any one trade, or even a small group of trades. I recall this discussion in one of his books. (Some trading things need constant reminding.) This perspective can assist with getting on with the next trade when it appears, with a better expectation that is not related to the previous trade’s result.”

How should you feel about losses? I once read somewhere that you are supposed to love losses. Does that make sense to you? It doesn’t to me.

The worst aspect of losing is that it tends to create pessimism. Traders should feel bad when they lose only if they fought the market trend, or violated their own trading strategies. The best traders have a healthy ‘so what, big deal!’ attitude that maintains a sense of humor about losses. There is no reason to feel bad about losses if the trading discipline was correctly used. On the other hand, there is no reason to learn to love them either.”

“Analyze losses, learn from them, and then let them go; move on, that’s the best thing to do.

Understanding man’s relationship to time is one of life’s most important challenges. When man becomes free of time’s constraints, he lives life to the fullest and achieves goals on his own terms. Pessimism traps traders in the past, destroys their present, and robs them of the future. Imagine a world without time where the thought of death is not a finality of existence. If profits were not the reason for your work-related behavior, then who are you? Where are you and what are you doing? Who shares this existence with you? In the philosophical sense, man creates himself and his existence when he takes responsibility for his actions and his time. Think how various individuals create order, structure and discipline in their lives. How will you allow a trading loss today affect your life five years from today?

Thinking the wrong way can become self-fulfilling. The trouble with self-fulfillment is that many people have a self-destructive streak. Accident-prone drivers keep destroying their cars, and self-destructive traders keep destroying their accounts. Markets offer unlimited opportunities for self-sabotage, as well as for self-fulfillment. Acting out your internal conflicts in the marketplace is a very expensive proposition.
money-case-163495_960_720.jpgTraders who are not at peace with themselves often try to fulfill their contradictory wishes in the market. If you do not know where you are going, you will wind up somewhere you never wanted to be.

Every business has losses. I cannot think of any that don’t. Shoplifting, embezzlement, internal pilferage, lawsuits, bad debts, spoilage, etc., I’m sure you can think of even more. You name it and businesses have one or more of the many ways to experience losses. Most businesses expect and accept such losses as part of doing business. Why, then, is it such a big deal when you have a loss in trading? If you know the answer to that, please let me know.

The way I handle a loss is this: I examine it, make every attempt to learn from it, and ascertain whether I had the loss by straying from my trading plan. If I have strayed, I reinforce my resolve to stick with my plan. If I have not strayed, then I learn from it what I can, and shrug it off as a cost of business. It is not an expense, it is a cost, and if you don’t know the difference, you need to take a course or read a book on the basics of accounting.”

Source: https://learn2.trade 

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ETHEREUM (ETH) PRICE ANALYSIS: BATTLES THE RESISTANCE AT $390, EYES THE HIGH AT $420

Key Highlights
Ethereum has a fresh target price of $420
The coin is still battling the resistance at $390

Ethereum (ETH) Current Statistics
The current price: $381.78
Market Capitalization: $43,016,171,550
Trading Volume: $12,067,100,125
Major supply zones: $280, $320, $360
Major demand zones: $160, $140, $100

Ethereum (ETH) Price Analysis September 20, 2020
From the rejection at the $390 resistance, Ether is falling to the previous low at $378. Each time the market falls it will retrace to the low of $378 and $381. ETH will rise again to retest the $390 resistance. The coin is rising and it has reached $381 at the writing. The crypto has resumed an upward move as it found support above $380. On the downside, if price has retraced and broken below $350, the selling pressure would have persisted.

ETH-Learn2trade-6.png ETH/USD – Daily Chart

ETH Technical Indicators Reading
The price has earlier broken above the resistance line of the ascending channel. This assures that the rise of the coin will continue. Another aspect is that price has remained above the EMAs. This also indicates that the coin is rising.

ETH-Learn2trade.png-2-Chart.png ETH/USD – 4 Hour Chart

Conclusion
From the price action on the 4-hour chart, Ethereum is likely to rise if the current resistance is breached. On September 17, the coin was in an upward move. It was resisted at $390 but the last retraced candle tested the 61.8% Fibonacci retracement level. This indicates that the market will rise and reach a high of 1.618 Fibonacci extension level or $420 high.

Source: https://learn2.trade 

                 

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BITCOIN STRENGTHENS CORRELATION WITH STOCK MARKET

Over recent days, Bitcoin (BTC) has been forging a strong correlation to the equities market once again and it has been observed that this occurs usually when global uncertainty is rife.

Currently, investors are wracked with fears over the dwindling prospects of second domestic stimulus measures in the US, coupled with the weaning possibility of a sharp economic recovery.

Also, the upcoming US presidential elections are adding to the growing uncertainty surrounding the markets. These fears will likely remain unsolved in the near-term, making further choppiness in the equities market very possible.

That said, Bitcoin will likely get caught up in the mix, giving its correlation to the stock market.

Meanwhile, an On-Chain analyst has said that he expects the Bitcoin-Equities correlation to fade in the coming months. He explained that subsequent sharp declines in equities will eventually stop pulling Bitcoin lower as the crypto reaches its lowest technically possible levels.

IMG_8532.png BTCUSD – 4-Hour Chart

Key BTC Levels to Watch

At press time, Bitcoin trades at $10,511, about 0.8% increase in the day. However, it remains trapped in its weekly consolidation range.

Last week, bulls attempted to pull the benchmark cryptocurrency out of its downward spiral and ended up taking the price to highs of $11,200. The rejection from that level was decisive and sharp, causing Bitcoin to fall to the level it currently trades at.

Meanwhile, the equities market was able to post a modest recovery today, which, as an extension, has given Bitcoin a reprieve for the near-term.

Still, the absence of any significant positive development around the US stimulus program or the pandemic-induced economic crisis may continue to burden the cryptocurrency market from rising in the near-term.

Total market capital: $333.6 billion

Bitcoin market capital: $194 billion

Bitcoin dominance: 58%

 

 

Source: https://learn2.trade 

                 

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    • BITCOIN STRENGTHENS CORRELATION WITH STOCK MARKET Over recent days, Bitcoin (BTC) has been forging a strong correlation to the equities market once again and it has been observed that this occurs usually when global uncertainty is rife. Currently, investors are wracked with fears over the dwindling prospects of second domestic stimulus measures in the US, coupled with the weaning possibility of a sharp economic recovery. Also, the upcoming US presidential elections are adding to the growing uncertainty surrounding the markets. These fears will likely remain unsolved in the near-term, making further choppiness in the equities market very possible. That said, Bitcoin will likely get caught up in the mix, giving its correlation to the stock market. Meanwhile, an On-Chain analyst has said that he expects the Bitcoin-Equities correlation to fade in the coming months. He explained that subsequent sharp declines in equities will eventually stop pulling Bitcoin lower as the crypto reaches its lowest technically possible levels. BTCUSD – 4-Hour Chart Key BTC Levels to Watch At press time, Bitcoin trades at $10,511, about 0.8% increase in the day. However, it remains trapped in its weekly consolidation range. Last week, bulls attempted to pull the benchmark cryptocurrency out of its downward spiral and ended up taking the price to highs of $11,200. The rejection from that level was decisive and sharp, causing Bitcoin to fall to the level it currently trades at. Meanwhile, the equities market was able to post a modest recovery today, which, as an extension, has given Bitcoin a reprieve for the near-term. Still, the absence of any significant positive development around the US stimulus program or the pandemic-induced economic crisis may continue to burden the cryptocurrency market from rising in the near-term. Total market capital: $333.6 billion Bitcoin market capital: $194 billion Bitcoin dominance: 58%     Source: https://learn2.trade                   
    • ETHEREUM (ETH) PRICE ANALYSIS: BATTLES THE RESISTANCE AT $390, EYES THE HIGH AT $420 Key Highlights Ethereum has a fresh target price of $420 The coin is still battling the resistance at $390 Ethereum (ETH) Current Statistics The current price: $381.78 Market Capitalization: $43,016,171,550 Trading Volume: $12,067,100,125 Major supply zones: $280, $320, $360 Major demand zones: $160, $140, $100 Ethereum (ETH) Price Analysis September 20, 2020 From the rejection at the $390 resistance, Ether is falling to the previous low at $378. Each time the market falls it will retrace to the low of $378 and $381. ETH will rise again to retest the $390 resistance. The coin is rising and it has reached $381 at the writing. The crypto has resumed an upward move as it found support above $380. On the downside, if price has retraced and broken below $350, the selling pressure would have persisted. ETH/USD – Daily Chart ETH Technical Indicators Reading The price has earlier broken above the resistance line of the ascending channel. This assures that the rise of the coin will continue. Another aspect is that price has remained above the EMAs. This also indicates that the coin is rising. ETH/USD – 4 Hour Chart Conclusion From the price action on the 4-hour chart, Ethereum is likely to rise if the current resistance is breached. On September 17, the coin was in an upward move. It was resisted at $390 but the last retraced candle tested the 61.8% Fibonacci retracement level. This indicates that the market will rise and reach a high of 1.618 Fibonacci extension level or $420 high. Source: https://learn2.trade                   
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