Oil Intraday Analysis and Trading Plan For February 12, 2024
Happy Monday once again.
Going forward, I will be including Oil on my analyses. I forgot to mention in my XRP analysis earlier that there will be a major economic news due on Tuesday, it’s the US Inflation data report.
I will be expecting markets to have wild trading volatility before and after the news.
Not so long ago, I made some decent short call for Oil.
Checking Oil’s high timeframe candles first:
Yearly Candle: Green Spinning Top
Monthly Candle: Long Legged Semi Doji
Weekly Candle: Previous close is a Large Green Body and current is a developing Small Green Spinning Top
Daily Candle: Previous close is a Green Semi Doji and current is a developing Small Green Spinning Top
Seeing these big timeframes, the $100 mark has become a clear psychological level since my previous analysis and it surprises me a lot that Oil has failed to re-test the 3-digit price. Well almost during September 2023 highs at least.
It’s already 2024 post-Covid (pandemic) era. Global markets have recovered and moved on. I think gone are the days of over $100 Oil price but I am not saying it’s impossible.
With OPEC doing an amazing job in controlling world’s Oil supply consistently, I think too that there will be no problem with running supplies both in the short and long run. There is a balanced Oil ecosystem I should say.
Let’s dig in to my trade plan for Oil now that I have a different trading method/strategy compared last time.
We have an obvious long term swing high and low points since March 2022 to May 2023. I am interested to see that the $80 mark has been acting as resistance for 3 months.
US dollar DXY index and US Oil charts are inversely inversely proportional to each other. The recent Greenback’s February 5th peak is the Oil’s dip. Whatever the outcome of the inflation figures this Tuesday will greatly impact Oil’s price short term.
I want to short Oil for possible intraday highs even if there’s a bullish 4H FVG that’s been pretty holding right now. I will set the buyback order (stop loss) based on external swing highs last January 31 CoCH. Taking profit on potential Order blocks just in case the newly formed bullish 4H FVG is broken with a 3 risk:reward score.
Trading involves risks.
Let’s see how this new Oil analysis goes.
Good luck!
XRP Intraday Analysis and Trading Plan For February 12, 2024
Happy Monday.
To start this week’s analyses, I will be updating my insights on the XRPUSD.
In yesterday’s rally, XRP bulls has managed to breach inside both 1-Day and 1-Week FVG territories as the new Weekly Swing High but failed to close above the $0.54-0.55 weekly resistance levels.
At time of writing, price is trading back to a nearby weekly supply and demand $0.51-0.52 zones that could be key levels on the upcoming moves.
I am concerned for a potential moderate to heavy correction for XRP once Bitcoin confirms a double weekly top which coincides the yearly $49K local high resistance. However, XRP might show some strength according to XRPBTC chart which is too oversold already and bounds for a strong reversal to the upside.
Re-assessing XRP’s high timeframe candlesticks:
**Yearly Candle: Still a Red Spinning Top**
**Monthly Candle: Still a Green Spinning Top**
**Weekly Candle: Previous close is a Medium Green Spinning Top and current is Small Red Spinning Top**
**Daily Candle: Previous close is a Green Long Upper Shadow**
Overall, there are equal strengths both in the buyers and sellers. Price will continue ranging respecting resistances to be sold and supports to be bought.
However, the said $0.51-0.52 zones are crucial and must hold if XRP wants to recover higher this year! Cannot allow to go back to the yearly lows at $0.48 levels which sellers can completely overrun and control the momentum to go lower.
I am now 1 win and 2 losses for XRPUSD based on the last 3 plans.
So for my trade plan today that can be extended this week will be a buy order at the intraday’s swing low with a stop loss at mid $0.50 and take profit at mid $0.54. A conventional 1.67 risk to reward score.
As long as the 4H FVG keeps where XRPUSD right now, there will be probable upside retracements targeting the latest weekly swing high.
Always remember that trading involves risks and apply strict risk management on your trades.
Have a wonderful week ahead. Good luck!
Scientific Evidences of the LORD Jesus's death and resurrection.
Scientific Evidences of the LORD Jesus's death and resurrection.
The Shroud of Turin - used to wrap and cover the LORD's body
https://youtu.be/DNMmj67Ywhc
The Sudarium of Oviedo - used to wrap and cover the LORD's head https://youtu.be/dNy65pKZS34
Click the hyperlink texts above to play the video.
John 20:29 NIV
Then Jesus told him, “Because you have seen me, you have believed; blessed are those who have not seen and yet have believed.”
To the LORD Almighty God be the glory!
The Lord Almighty God Gave Me 2 Terrifying Dreams!
I have 2 dreams in the last 2 days, since Thursday and Friday nights. October 13 and 14 respectively.
The LORD reveals Himself through dreams and visions according to the bible.
And in my dreams, the LORD hid my mind that I am already saved and has relationship with Him so I can feel all the terrors! Which the LORD explained afterward why He hid it.
Joel 2:28 NIV
*"And afterward, I will pour out my Spirit on all people. Your sons and daughters will prophesy, your old men will dream dreams, your young men will see visions."*
Daniel 4:5 NIV
*"I had a dream that made me afraid. As I was lying in bed, the images and visions that passed through my mind terrified me."*
And the LORD hid my mind that I am already saved and has relationship with Him when I'm dreaming so I can fell the terrors!
**The first dream:**
People I saw in my dream have lovely/beautiful appearances but when I saw them in the mirror, their true forms were revealed, ugly and deformed. Full of evil and malice.
So the LORD revealed that their spirits are dead because of unholy living and sin-thriving lives.
**The second dream:**
The second dream is far scarier and demonic. I ask the LORD mightily for the courage to share it publicly even it is too bizarre and can be misinterpreted! I want to obey Him completely for His glory!
A woman is having sexual intentions with me in a bed, not my wife and I don't know this woman! In Jesus name!!!
There is a spirit of lust in my eyes and sexual spirit that need to be broken.
Demonic spirit in form of a succubus that tries to bring back my sinful body which this body longs to sin!
Deprive the body from sin and live in Spirit guided by the HOLY Spirit!
Galatians 5:24-25 NIV
*24 "Those who belong to Christ Jesus have crucified the flesh with its passions and desires."*
*25 "Since we live by the Spirit, let us walk in step with the Spirit."*
I suffered ejaculation, bear with me these inconvenient words!
Upon waking up, I cried and I immediately ask forgiveness to the LORD and the HOLY Spirit immediately hugged me and said you are saved already, the reason of these dreams is to tell people to turn back from sinning, go back to the cross and live in Spirit.
Thank You LORD! All glory, praises, worship and adoration in the whole universe and existence belong only to You!
Blessed are those who read this article.
**If you are an unbeliever and have read this article, accept the LORD Jesus now and REPENT!**
**If you are a believer like me but at the same time living in sin, the LORD Jesus is willing to break every demonic chains of your life! REPENT and allow the HOLY Spirit and give a complete surrender!**
**STOP LIVING AND LOVING SIN FOR GOD IS HOLY!**
2 Corinthians 13:5 NIV
"*Examine yourselves to see whether you are in the faith; test yourselves. Do you not realize that Christ Jesus is in you—unless, of course, you fail the test?"*
Luke 13:3 NIV
*"I tell you, no! But unless you repent, you too will all perish."*
May the Holiness of the God the Father, the grace and love of the Son, and truth and guidance by the HOLY Spirit be with you!
Amen!
Words are Powerful
**My Jehovah Nissi! The LORD is my banner and my refuge! The source of my strength!**
I love to share my everyday God-inspired words to enlighten our spirits! We cannot live on bread alone, we need His words to feed our spirits too!
Ephesians 4:26 (GNT)
*“If you become angry, do not let your anger lead you into sin, and do not stay angry all day.”*
*Image courtesy of* *timesofindia.indiatimes.com* https://timesofindia.indiatimes.com/
Sin thrives in an angry heart. Anger is not of God. Being angry is not a direct sin but it will lead you to sinning if we not control it.
As a follower of Christ, this will test us! If we do not listen to the HOLY Spirit’s warning and conviction, we will burst into anger through words!
Words are painful if spoken badly yet comforting if good.
Words are a double-edged sword and once we are angry, it can do harm to the people around us.
Worst, once Satan fully take holds of us through our anger, actions follow! We can harm physically afterwards. God forbid!
It’s okay to be angry but do not sin. Seek strength from the LORD Jesus for we are His already.
Listen to the HOLY Spirit’s conviction! Amen!
Listen from Desperation Band:
Pleasing to You
https://youtu.be/cSfRtnp_L5c
Have a peaceful Thursday!
May the LORD Almighty God bless you more in Jesus name!
Apostle Paul as a Tentmaker
**My Jehovah Nissi! The LORD is my banner and my refuge! The source of my strength!**
I love to share my everyday God-inspired words to enlighten our spirits! We cannot live on bread alone, we need His words to feed our spirits too!
Acts 18:1-4 (NIV)
*1 After this, Paul left Athens and went to Corinth.*
*2 There he met a Jew named Aquila, a native of Pontus, who had recently come from Italy with his wife Priscilla, because Claudius had ordered all Jews to leave Rome. Paul went to see them,*
*3 and because he was a tentmaker as they were, he stayed and worked with them.*
*4 Every Sabbath he reasoned in the synagogue, trying to persuade Jews and Greeks.*
*Image courtesy of* *apkpure.com* https://apkpure.com/
The world we live in is fast-paced. Everyone is extremely busy with each own works and responsibilities.
Today’s scripture portraits the Apostle Paul as a tentmaker. We all know that since his encounter with the LORD Jesus, his life totally changed from Saul to Paul. From Christian persecutor to a lover of souls.
No matter how busy he was during his lifetime, he always have time for God and ministry. He loved God with all his heart and soul till his very last breath.
This verse truly reminding us present age generation of Christ’s followers to prioritize Him and God’s works specially now that we are living in crisis!
Even the LORD Jesus Himself was a carpenter before He started doing God the Father’s mission given unto Him.
It is not wrong to work and earn money. We all do have a family to feed on and it’s our responsibility but always put God first in everything we do.
At times work becomes challenging, allow the Holy Spirit to convict our troubled hearts for the LORD God is our Jehovah Shalom, our peace both our tired earthly bodies and weary souls!
From the moment we wake up till we close our eyes in the evening, we thank and glory God! Amen.
Seek God while still He can be found!
Listen from Hillsong:
Oceans Will Part
https://youtu.be/PBG-wam3FpA
Have a peaceful Wednesday!
May the LORD Almighty God bless you more in Jesus name!
READ THIS if you're an XRP believer!
Do not forget that XRP is the only crypto/alt that have reached number 1 rank in terms of total market cap long ago!
Hello good evening, my name is Ken aka rafaelken1989.
I been following XRP's price, charts, news and fundamentals since 2019.
Not only I trade it to stack more bags but I also check regularly its supply figures, news related information, fundamentals, market sentiments and more.
Tonight while writing this article, I thank **readcash** first specially its sponsors for being so good to me including all the writers and readers! In behalf of all users, I thank you big time! :-) https://read.cash/
Allow me to share XRP's recent fundamental developments and some overall technical analysis.
Let me start with its chart:
*Courtesy of* *https://www.dailyfx.com/*
I think or at least seeing a trending development in XRP's price action!
Based on my crazy wild trading system that I use in crypto and Forex markets, XRP might perform either of the following Elliot wave trajectories: https://www.investopedia.com/terms/e/elliottwavetheory.asp
Ascending Triangle
Symmetrical Triangle
Falling Wedge
All these 3 patterns are probable for bullish outcomes! We'll soon found out.
There's no guarantee but that's what I'm seeing for now.
Market sentiments are going positive over time too.
*Source:* *https://www.newsnow.co.uk/h/?search=XRP&lang=en&searchheadlines=1*
Check out my tweet:
https://twitter.com/rafaelken1989/status/1572189168251580416
I think personally that the Ripple VS US SEC lawsuit will finally have a conclusion!
Only time will tell. So to all XRP loves, extend your already extending patience!
Good things come to those who wait!
Meanwhile, let me layout XRP's supply tracker and the XRPL decentralization meter.
Full details on this here:
https://twitter.com/rafaelken1989/status/1572179711345979392
I already put all details as possible through the image above. As a summary, XRP's running supply or the ones current in circulation has increased by another 22M coins recently!
Worry not because this will not affect its price that much, okay? ;-)
My last part will be sharing XRP's decentralization meter.
I think the Ripple company has continued to keep its promise to make the XRPL network/ledger more decentralize over time! This will make the XRP eco-system healthy for the long-term good!
Remember or take note that I did my own deep researches to get these figures with the objective of sharing unto all my fellow XRP loves but I am fully aware that they are subject for correction! Please comment down below if you spot something wrong. I will greatly appreciate it.
Last of the last, be careful those trying to short XRP now because there will be sudden volume spikes out of nowhere. XRP is trending as I said earlier. Volatility is just around the corner and be aware too that trading the cryptocurrency markets involves risk!
Also, keep an eye on XRP's major crypto pairs:
XRPBTC
XRPETH
XRPBNB
Specially the XRPBTC pair!
How I wish for the 4th one, XRPADA! Yes I do!
You can follow me for more XRP updates including other cryptos and Forex markets through my social accounts:
Twitter: https://twitter.com/rafaelken1989 - MAIN
Facebook: https://www.facebook.com/rafaelken1989/
Linkedin: https://www.linkedin.com/in/ken-aguilar-460411138/
Parler: https://parler.com/rafaelken1989
Subscribe to my YouTube Channel if you like:
https://www.youtube.com/channel/UCFQWMCe8dPTIzQKULdxenyQ
My small personal website:
https://rafaelken1989.wordpress.com/
Thanks a lot for reading my article from first to the finished line.
To the LORD Almighty God be the glory!
God bless you in Jesus name.
Being Humble Is a Hard Thing to Do
**My Jehovah Nissi! The LORD is my banner and my refuge! The source of my strength!**
I love to share my everyday God-inspired words to enlighten our spirits! We cannot live on bread alone, we need His words to feed our spirits too!
2 Chronicles 7:14 (KJB)
*"If my people, which are called by my name, shall humble themselves, and pray, and seek my face, and turn from their wicked ways; then will I hear from heaven, and will forgive their sin, and will heal their land."*
*Image courtesy of* *nitter.net* https://nitter.net/
No one is above God. We are all subject in His dominion, as above so here here below.
One cannot be equal with God, we are under His mercy and grace.
We need to acknowledge Him in our lives that we cannot do anything without Him.
Being humble is a hard thing to do specially during these times where pride and ego matter.
However, as followers of Christ, we must be humble and be more like Him for God exalts the meek, hear their prayers, forgives sins, and bless them across all areas of life!
There are certain situations that may challenge our ego and pride but remember we are already living for Christ and not for ourselves! We must exercise humility and ask the strength from Him to do so.
Every time we became full of ourselves, just ask forgiveness, repent and always remember what the LORD Jesus has done that we may enjoy the fruits of His works! Amen!
Listen from Jamie Rivera:
Heal Our Land
https://www.youtube.com/watch?v=-r0_zVDdTjU
Have a wonderful Tuesday!
May the LORD Almighty God bless you more in Jesus name!
My Verse of the Day – September 19, 2022
**The LORD is my banner! The source of my strength!**
My everyday God-inspired words to enlighten our spirits! We cannot live on bread alone, we need His words to feed our spirits too!
John 6:54 (GNT)
*“Those who eat my flesh and drink my blood have eternal life, and I will raise them to life on the last day.”*
*Image courtesy of* *unwsp.edu* https://unwsp.edu/blog/having-healthy-gender-identity-conversations/
The LORD’s verse given unto me today can be both literal and spiritual meaning.
All we have to know is that there is no other means of salvation but only through the precious blood of Jesus that we can apply in almost aspects of our lives.
You’re struggling with sin like I do? Apply the blood of Jesus and repent!
You’re asking protection? Ask the LORD’s Jesus blood to cover you!
You’re seeking God with all your heart and soul? His precious blood is our ticket through faith!
Even the vilest of sinners can be cleaned through His blood! Amen!
Listen from Gaither Vocal Band:
Yes, I Know
https://www.youtube.com/watch?v=CqLxtfkMILA
Have an enlighten Monday!
May the LORD Almighty God bless you more in Jesus name!
Trading is Hard – There is No Real Secret Sauce!
*Image credits of* *thebalancemoney.com* https://www.thebalancemoney.com/why-it-is-so-hard-to-make-consistent-money-day-trading-1031238
After some experience I gathered in trading the markets for three to four years now. I think there's really no secret sauce to be a profitable or successful trader because I believe, the ones that we can see in the YouTube are just too good to be true or for me fairy tales. But for me, also the real success for a profitable trader is the risk management part and I've been for a long time. I really believe that I've got decent or sufficient, at least for me, sufficient experiences with my trades. With my endless TAs (Technical Analyses).
I've been selecting, been trying or have tried a lot of strategies before and finally I was able to cut them down and focus for this and master this strategy that I'm going to use in the spot trading, crypto futures trading and the forex marginal trades.
One of the strategies are, we need to wait for the patterns and the Elliot waves to play out, we need to wait for the volatility because this, for me, is the best I need to say it in this way, we need to wait for the volatility because volatility is what the chances of making money, that is the chances that I have observed. Because if we cannot wait, we certainly buy the breakeven parts or the breakeven prices and chances are it's hard to make money in this way. So, we need to carefully locate the Fibs. Trade at all cost, trade near the Fib levels and we need to use the indicators. We do not rely the indicators, there's no guarantee but at least we need them, indicators as the confluences support what we can see, especially the volatility metrics. And we need to really wait for the patterns in the Elliott waves.
We need to focus on a time frame for our trade. For example, if we want to trade on the 4R, we need the 4R only. Although we need to see the patterns to play out first. Indicators, I repeat, are not to be relied on but we need to use them as confluences to support our risk management. Also we need to place the proper stop loss, we need to see the previous ranges, a lot of things, I'm trying to make this my strategy I'm using right now, very simple, but it cannot turn out to be a simple one as I expected.
So we need to at least follow the guidelines, at least we have guidelines to use. Okay. Also, we need to really check the long-term part, the weight of a trading instrument’s structures, the mid-term and the short-term and we need to be disciplined on the risk management part. We need to throw all the emotions away. We need to be really made up our minds. Once we take the trade, that trade then that's it.
So I guess I'm done discussing while using the strategies. I know while making trades, along the way there will be some changes, improvements that will help solidify the strategies that I'm using. So that's it for now. God bless.
My Verse of the Day - September 18, 2022
**The LORD is my banner! The source of my strength!**
My everyday God-inspired words to enlighten our spirits! We cannot live on bread alone, we need His words to feed our spirits too!
Hebrews 10:25 (GNT)
*“Let us not give up the habit of meeting together, as some are doing. Instead, let us encourage one another all the more, since you see that the Day of the Lord is coming nearer.”*
*Image courtesy of* *miniercc.org* https://www.miniercc.org/
Early followers of the LORD Jesus were full of zeal, passionate and fervent. Even at times of Roman persecutions, their faith and love unto the LORD provided strength and courage to keep the fellowship alive.
As a follower of Christ in this present age, fellowship starts within our own family at home and continue to be in fellowship with other brothers and sisters for we are all part of the Church of the LORD whom He redeemed by His own precious blood.
Keep the fire alive whether we are in our own households or with the others.
Listen from Victory Band:
Hangtud May Kinabuhi
https://www.youtube.com/watch?v=bJzFXF__smM
Have a blessed and restful Sunday!
May the LORD Almighty God bless you more in Jesus name!
EOSUSD Bull Trap Incoming?
EOSUSD has a strong recovery since its June lows below a dollar that lead to nice comeback at least re-testing its former FVG (fair value gap) price last May's peak at almost $2.
Such peat doubled EOS' value.
Price corrected afterwards to as low as $1.30-1.35 at the end of August and it continued to be the observed demand in September.
With its 4-hour 50-moving average hints an incoming bear and death crosses, I need to evaluate EOSUSD potential price trajectory.
All I can see right now is that the $1.30-1.35 price range still wants to act as the immediate relief and the fact that EOSUSD came from a very good rally, I think that it the 4-hour MAs will set-up some bull trapping first before the relief range breaks down.
I will short EOS at my speculated bull trap then exit at its 61.80% retracement area.
In case my TA goes off direction, stop loss is placed at $1.82.
This short trade plan gives me a risk:reward score of 3.
We'll see what happens next. Soon.
Original article written by me:
https://www.finlogix.com/analysis/20220917/eosusd-bull-trap-incoming
DOTUSD Latest Bear Pennant Part of its 4H Megaphone Structure
Polkadota has an interesting price structure that has starting to develop since August 2022.
It has a megaphone structure (expanding triangle pattern) which usually very volatile in nature.
This type of structure usually ends in trend continuation and we can see the DOTUSD came from a nasty down trend and probable re-occurrence once its latest local bear pennant PoD (point of decision) arrives.
I will put a short order once price starts to break-down outside the pennant and take some profit at the next lower low chance of its wide megaphone structure. Sell stop once price gets back inside the pennant range then that's being bullish?
This short trade has a flat 1 RR score.
Original article written by me:
https://www.finlogix.com/analysis/20220917/dotusd-latest-bear-pennant-part-of-its-4h-megaphone-structure
Chainlink Awaits Break-out Towards 161.80% Fib Extension
I like the LINKUSD's 4-hour price structure right now!
It seems bullish pressures keep building up.
I think it's better for me to wait and buy the break-out on $8.55 mark while putting a long cover at $8.31 to be safe.
Once $8.55 hits it will trigger a market reaction and squeezing shorts down low with strong bids alignment.
Exiting my long position at the 161.80% fib extension level ($9.10) will be a good try!
This will be a risky yet ambitious trade plan with a risk:reward score of 2.292.
Original article written by me:
https://www.finlogix.com/analysis/20220917/chainlink-awaits-break-out-towards-16180-fib-extension
LTCUSD Remains Under Selling Pressure
Litecoin remains under selling pressure although having an overall good mid-term consolidation phase since it found footing from its monthly lows last June.
Thankfully, the LTCUSD's fresh swing high last week gives more upswing hopes.
Its 4-hour RSI indicator still below the 50 neutral level hence short-term price fall-offs can occur again back to as low as the 50% fib retracements from the June lows to last week's highs. I want to make a long entry in that level.
Should price holds in that level, it will be good to sell on the next upper 38.20% retracement.
Otherwise, further sell-offs can pave way towards September 7 lows. That will be my buy stoppage.
Risk/Return score of 3.446.
Also this trading plan can drag more time so patience will be the key.
Original article written by me:
https://www.finlogix.com/analysis/20220917/ltcusd-remains-under-selling-pressure
BCHUSD Expanding Triangle with Consistent Flat Lows
Bitcoin cash is showing a consistent demand region for 4th consecutive day.
Its current 4H structure seems having an expanding triangle with that demand region as flat low.
Any sudden price break down below that level will will change its pattern to a complete expanding triangle with both highering highs and lowering lows suggesting wide price volatility.
I based my stop loss in that scenario.
Entry will be observed on the next re-test and hoping prices bounces back up again to further validate BCHUSD's current 4H wave behavior!
Upon success on the long entry, it is wise to take profit on the next higher high.
Personally, I love BCH's price structure now! Simple, easy and straight-forward!
Original article written by me:
https://www.finlogix.com/analysis/20220917/bchusd-expanding-triangle-with-consistent-flat-lows
XLMUSD Targets Newly Formed Equal Highs
XLMUSD is trading in a new range since September 13 strong move down.
I am looking at its newly formed equal highs thanks to Friday's good break-out move from the previous lower range consolidation.
I think it will be the short-term bulls' immediate rally target.
Just need to re-test $0.1050 sub-levels one last time as long covers on the double top rejection earlier, will be a good entry point.
In case price breaks down below the blue line I've drawn, I put stop loss at $0.1029.
Obvious immediate take profit target is a re-test on the newly formed equal highs.
This trade plan scores a 1.667 RR.
Original article written by me:
https://www.finlogix.com/analysis/20220917/xlmusd-targets-newly-formed-equal-highs
ETH’s Merge aka 2.0 Got Disrespected by Its Bearish H&S!
I rarely make Ethereum TAs but for the sake of respect, I have to include it in my crypto short-term trading plans today. I show respect to this crypto but not a fan, personally. No offense!
Speaking of respect, ETHUSD is finding that magic word yet. The successful merging aka "ETH version 2.0" means nothing when I have a clear view of its 4H charts.
I think the Ethereum's price action now is highly affected by this considerable bearish Head and Shoulders pattern size! Still a long way to go for some big price movements to be seen on the 2nd largest cryptocurrency according to market cap.
I will remain bearish for the ETHUSD until that left shoulder's demand levels be back-tested then price gear reversal happens.
This TA might become mid to long-term analysis based on that claim.
Anyways, for this happen, need huge amount of volatility. Until so, I remain bearish.
Long entry will be good on S1's retest other wise putting stop loss at $1,285 mark upon freefalling back to ETH's previous range is decent risk.
Taking profit on $1,500 will give a risk:reward score of 1.867 for this trading plan.
Original article written by me:
https://www.finlogix.com/analysis/20220917/eths-merge-aka-20-got-disrespected-by-its-bearish-hs
Fresh BTCUSD Symmetrical Triangle
I can see a latest symmetrical triangle development on Bitcoin after 2 good higher lows last September 7 and 16 as our support range. Meanwhile, September 14 and today (17th) formed the lower highs as our resistance range.
These local price movements has formed the said pattern.
I think if BTCUSD's price pulls back to $19,701, that can be a good long position.
Any sharp move down below the higher lows will trigger re-test on September lows. That's our stop loss basis and a quick take profiting on the symmetrical triangle's mini-breakout targeting the 61.80% fib retracement from recent September 7 bottom.
This will be a narrow trade plan with an RR score of 0.641 only.
Original article written by me:
https://www.finlogix.com/analysis/20220917/fresh-btcusd-symmetrical-triangle
XRPUSD's Recent 11% Gains Targets 2 FVGs
XRPUSD has taken its bears by surprise after finding trust-worthy acceptance just a little bit below the crucial 78.60% fib retracement from the previous local high at $0.36+.
Yesterday's 11% gain has created a momentum for the bulls looking a re-test on FVG (fair value gap) levels that formed last August 18's BiS (break-in support) and the strong short squeezing moves on August 26 confirming a total rejection. That's the bulls' 1st FVG target at $0.37. Friday's daily candle close above $0.35 which is a good sign.
Should price falls back momentarily again, at least a good long position at $0.3433 mark where bulls reposition themselves.
Stop loss at will on the $0.3311 mark.
2nd FVG target for the bulls will be $0.3871 as the max target of this plan. Taking profit on the 1st FVG level is reasonable.
This trade plan can drag more time and has a realized 3.59 risk:reward ratio.
Original article written by me:
https://www.finlogix.com/analysis/20220917/xrpusds-recent-11-gains-targets-2-fvgs
My Verse of the Day – September 17, 2022
**The LORD is my banner! The source of my strength!**
My everyday God-inspired words to enlighten our spirits! We cannot live on bread alone, we need His words to feed our spirits too!
Proverbs 5:15-19 (GNT)
*15 Be faithful to your own wife and give your love to her alone.*
*16 Children that you have by other women will do you no good.*
*17 Your children should grow up to help you, not strangers.*
*18 So be happy with your wife and find your joy with the woman you married –*
*19 pretty and graceful as a deer. Let her charms keep you happy; let her surround you with her love.*
*Image courtesy of* *focusonthefamily.com* https://www.focusonthefamily.com/
The LORD has reminded me this morning to remain faithful and always love my wife together with our children as much as His Son love us, His church.
This is a very personal message for me and the LORD Almighty God wants to remind me to my core to love, care and protect my family.
Thank you LORD for this wonderful life you have granted me!
I have a home, a wife, children and most importantly, You oh LORD!
A life in full abundance. Amen!
Listen from Paul Baloche:
Open The Eyes Of My Heart
https://www.youtube.com/watch?v=ViBNqNukgzE
Have a blessed Saturday!
May the LORD Almighty God bless you more in Jesus name!
Trading Cup 2022 Trader Spotlight – One Trading Instrument That Made Up 93% Of Total Returns
In last week’s Trading Cup 2020 Trader Spotlight, we featured **Peizhi Zhang’s staggering July 2022 1500% gains** where he showed his ability to locate support and resistance levels, his timely **revenge trading** skill, proper use of leverage to his advantage, and his manual trading style. https://news.tradingcup.com/en/news/trader-spotlight-staggering-1500-percent-gains https://acy.com/en/market-news/education/my-top-5-trading-mistakes-you-must-avoid-125815
In today’s blog, we highlight another trader named **De Jia Li** who made 1,507% returns for the month of October 2021 starting with a $500 account balance only. Both traders have low starting capital and similar gains. https://www.tradingcup.com/en/performers/1/170813
We will uncover his chosen trading instruments, stats, trading style and strategy that help him achieved a successful October 1,507% returns. Plus, we will discuss in details the specific trading instrument he used that covered 35% of all his trades yet made up 93% of his entire October 2021 returns.
Before we continue, the Trading Cup leaderboard updates regularly so you can see the results of the top 10 competing traders. Our statistics section also showcases their key trading metrics to give you an insight into their trading strategies.
You can check out the live stats through the Trading Cup homepage.
Before we reveal the successful trading instrument De Jia Li utilised, let’s layout first his statistics.
**He performed a total of 293 trades across different trading instruments including:**
**China50** https://acy.com/en/market/china50
**Silver** https://acy.com/en/market/xagusd
**Oil** https://acy.com/en/market/wti
**Dow Jones** https://acy.com/en/market/dj30
**Gold** https://acy.com/en/market/xauusd
For the month of October, De Jia has traded these 5 selected instruments only as his choice. Note that 35% of these are coming from the Silver trades. That is the obvious clue in this blog’s title which comprises 93% of his entire October 2021 gains.
How did he managed to amassed this very precise Silver trades?
**Drawdowns**
Let’s have a breakdown on his drawdowns. In **short-term trading**, drawdowns matter a lot. https://acy.com/en/market-news/education/mt4-setup-daily-routine-indicators-111323
We divided his drawdowns into 3 major levels.
The first 53 trades has a peak of $5,848.86 PnL (Profit and Loss Equity) this is where the first major drawdown level occurred where he bottomed at $1,822.32 resulting a 68.84% drawdown.
The next 42 trades peaked at $8,723.76 then pulled back at $7,754.46 resulting a 11.11% drawdown only. Somehow he made a good turn-around on his second major drawdown! A drawdown level within 10-20% range is considered a decent risk management.
As his October trading activity comes to a closure, his next 60 trades peaked at $10,090.11 down to his final PnL of $8,037.41 resulting 20.34% drawdown. Again within the 10-20% range!
Special note also that during his last 152 trades were held above 8,000 level which we can say he managed to preserve his profits.
He has an overall average of 33.43% for the entire month of October 2021 trading activity.
Compared to our **last week’s highlighted trader**, De Jia Li has a more natural equity curve but that doesn’t mean his the inferior trader between the two. At the end of my article, we will lay-out in depth one of his Silver trades to show his own trading strategy and skills. https://news.tradingcup.com/en/news/trader-spotlight-staggering-1500-percent-gains
**His monthly key trading statistics:**
**Total Trades: 293**
**Break-even trades: 6 (A trade result that is within the -1/+1 PnL value range can be considered as a break-even)**
**Loss trades: 154**
**Won trades: 133**
**Win rate: 45.39%**
**Average gain on wins: $173.28**
**Average loss on losses: -$100.70**
**Biggest Win: $970.94 (China50)**
**Biggest Loss: -$741 (China50)**
**Trade Direction: 214 Buys/Longs & 79 Sells/Shorts (73% of all his traders are buys/longs)**
**Best Performing Instrument: Silver ($7,490.08 PnL comprises 93% of realized October returns)**
**Worst Performing Instrument: Gold (-$408.20 PnL)**
**Quickest Trade: 1 minute (China50)**
**Longest Trade: 6 days and 11 hours (China50)**
**Average Trading Volume: 0.94 Lot Size**
**Smallest Trading Volume: 0.10 Lot Size**
**Largest Trading Volume: 5.01 Lot Size (China50)**
Based on the stats gathered, he traded for 3 weeks in the month of October 2021. He manually closed both his 228 winning and 27 losing trade positions thus making a total of 255 overridden trades. Only 38 trades went according to his initial trade plan. We can see here that he’s more of a conservative type of a trader applying strict management skills. He surely paid more attention to his risk management after the he suffered a terrible 68.84% drawdown making sure his returns are well retained. He went greedy over the China50 trades with the largest trading volume of 5.01 lot size scoring him a $970.94 gain as well as hitting him hard with the same leverage cost him -$741 loss! It is very important to understand the risks involved in **leverage trading**. Out of that experience, 44% of his trades were focussed on Silver from mid to final part of his October trading journey with an average volume of 0.80 per trade only thus he found footing and started to pile gains for his account. We can clearly see the results of his adjustments on his second and final drawdown levels and by doing so, making the Silver as his best performing instrument. He also more of a day trader type and not using algorithmic trading systems or **EAs**. Overall, he didn’t allow his **emotions** to lose control over his trading decisions. https://acy.com/cs/market-news/education/trading-on-leverage-the-key-dos-donts-105341 https://acy.com/en/market-news/education/expert-advisors-benefits-forex https://acy.com/en/market-news/education/psychology-of-trading-tutorial-for-emotional-control
**Let’s have a look at some of his notable Silver trades:**
**XAGUSD** 15-minute chart via **ACY MT4** https://acy.com/en/market/xagusd/ https://acy.com/en/platforms/mt4
Remember that I pointed out earlier that 73% of all his traders are buys/longs. On this day, 12th October, he started with just 1 long position then added another as soon as Silver price fell. He keep adding buy positions making 11 in total then markets moved to his favour resulting $3,544 upon his exit. Note that some of these positions were closed that day and the next day but all ended well in profits.
**XAGUSD** 15-minute chart via **ACY MT4** https://acy.com/en/market/xagusd/ https://acy.com/en/platforms/mt4
The following day, 13th October, he went long again with 8 bold positions. Five of these were added as soon as price gets near to his targets summing up a total of $1,181 gains for the day.
**XAGUSD** 15-minute chart via **ACY MT4** https://acy.com/en/market/xagusd/ https://acy.com/en/platforms/mt4
Last example that happened on 14th October, again he opened 2 initial longs then added 3 more when price getting closer to his take profit levels. All successfully closed out garnering $1,554.
**As a conclusion in this week’s trader spotlight:**
**Drawdown Management**
His **trading strategy** revolved around Silver applying excellent drawdown management skills even he has only a 45.39% win rate. https://acy.com/pt/market-news/education/top-three-strategies-to-enter-the-market
**Batch Trading**
Strength in numbers. He utilised bulk trading orders at different prices as part of his successful trading strategy manifested on Silver trades. He understands both the rewards and risks offered in batch trading.
**Price Positioning Strategy**
When the price getting nearer to his exit targets, he’s adding more to support his initial positions hence increasing chances of closing them out successfully. Such advanced trading skills!
Congratulations to De Jia Li for a successful trading result in October 2021!
If you are a trader or a fund manager, showcase your trading skills by joining the **Trading Cup 2022 competition**! https://www.tradingcup.com/en/mmr
Every week, we scout for the next spotlight trader so stay tuned in our **blog** and **social** **accounts**. https://news.tradingcup.com/en/news/trader-spotlight-staggering-1500-percent-gains https://twitter.com/trading_cup https://www.facebook.com/thetradingcup/
Trading involves risk.
Original article source written by me:
https://news.tradingcup.com/en/news/trader-spotlight-one-trading-instrument-made-93-percent-returns
My Verse of the Day – September 16, 2022
**The LORD is my banner! The source of my strength!**
My everyday God-inspired words to enlighten our spirits! We cannot live on bread alone, we need His words to feed our spirits too!
Luke 3:23 New International Version (NIV)
*23*
*Now Jesus himself was about thirty years old when he began his ministry. He was the son, so it was thought, of Joseph, the son of Heli,*
*Image courtesy of* *pinimg.com* https://www.pinterest.ph/
While I worship the LORD this morning, the Holy Spirit took over me and gave me a vision about the time the LORD Jesus in in His dying moments, saying ‘It is done’, then the veil at the temple was torn apart.
He started His ministry during His prime years at the age of 30.
He is the God incarnate possessing the highest physical and spiritual standards.
He lived the perfect life. Spotless and blameless like the perfect lamb for sin offering and He offered Himself as the ultimate sacrifice for the humanity be reconciled with God the Father.
He is the only way!
Listen from Michael W Smith:
Above All
https://www.youtube.com/watch?v=Q7EPZV56PuA
Have a blessed Friday!
May the LORD Almighty God bless you more in Jesus name!
USDCAD Inverted Hourly Fish Hook
My Thursday intraday trading plan will be on Greenback VS Loonie.
USDCAD is facing some real issue with its 9-week resistance.
Overnight, markets are saved by the bell after a negative PPI figure result. I'm speculating negative Thursday results for both US Core and Retail Sales too.
After watching the excellent technical video analysis with a clear USDCAD point of view from ACY Securities Senior Market Strategist & Trading Mentor, Duncan Cooper, it further supports my short plan today.
Watch the video below:
https://youtu.be/ZVsgbLBiPBM
I think it's good to buy the Loonie pair for today entering through its intraday rally attempts dissecting near the hourly lowering highs that is part of the inverted Fish hook's head.
Largest stop loss placed at 1.32100 but can have smaller stops once price go up in exact opposite direction supporting a break-out of the hourly inverted Fish hook instead of a reversal.
Taking profit on the 50% retracement for 87 pips move down but can exit early getting some 40 pips from the main TP target.
Original article written by me:
https://www.finlogix.com/analysis/20220915/usdcad-inverted-hourly-fish-hook
My Verse of the Day – September 15, 2022
**The LORD is my banner! The source of my strength!**
My everyday God-inspired words to enlighten our spirits! We cannot live on bread alone, we need His words to feed our spirits too!
Daniel 2:27-28 New International Version (NIV)
*27 Daniel replied,*
*“No wise man, enchanter, magician or diviner can explain to the king the mystery he has asked about,”*
*28 but there is a God in heaven who reveals mysteries. He has shown King Nebuchadnezzar what will happen in days to come. Your dream and the visions that passed through your mind as you were lying in bed are these:*
*Image courtesy of* *wallup.net* https://wallup.net/
When Daniel and his friends faced the execution decree by king Nebuchadnezzar, they prayed hard asking the LORD Almighty God’s help to rescue them from the dreadful fate. And the LORD didn’t failed to show mercy and love unto them. He opened Daniel’s mind and granted him wisdom that led him and his friends even the unbelievers’ deliverance from death.
As followers of Christ, our strength and wisdom must always come from Him. We cannot save ourselves. We cannot trust our own understanding in trying to resolve life’s challenges. The LORD Almighty God is all-powerful and all-knowing! He will grant us the strength and wisdom if we truly worship and seek Him with all of our heart and soul. He is reliable and trust-worthy. Amen!
Listen from Martin Smith:
Waiting Here For You
https://www.youtube.com/watch?v=-8d80ok40TQ
Have a wonderful Thursday!
May the LORD Almighty God bless you more in Jesus name!
My Verse of the Day – September 14, 2022
**The LORD is my banner! The source of my strength!**
My everyday God-inspired words to enlighten our spirits! We cannot live on bread alone, we need His words to feed our spirits too!
Job 1:20-22 New International Version (NIV)
*20 At this, Job got up and tore his robe and shaved his head. Then he fell to the ground in worship*
*21 and said:*
*“Naked I came from my mother’s womb,*
*and naked I will depart.*
*The Lord gave and the Lord has taken away;*
*may the name of the Lord be praised.”*
*22 “In all this, Job did not sin by charging God with wrongdoing.”*
*Image courtesy of* *pinterest* https://www.pinterest.ph/
Job faced the realities of life, normal people cannot withstand such sufferings but instead of cursing God, he praise the LORD Almighty God even more!
As followers of Christ, whatever circumstances in our lives may be, good times, prosperity and success or bad times, pain and suffering, always point focus to Him. Praise the LORD!
Listen from Hillsong:
From the Inside Out
https://youtu.be/i-9mUDbGsEk
Have a wonderful Wednesday!
May the LORD Almighty God bless you more in Jesus name!
Original article:
https://rafaelken1989.wordpress.com/2022/09/14/my-verse-of-the-day-september-14-2022/
USDJPY's Latest Shorts Squeezing
Just like I have said yesterday, the USDJPY is truly the DXY index strength meter!
After a positive US CPI data result, the Forex markets entered into a wild volatility squeezing the shorts across 2 USDJPY price levels.
Bulls are targeting the 145 area so that's my stop loss for today's trade plan.
Even so, I still want to short this level as it's a strong 24-year supply. Should the USDJPY's latest Bull flag consolidates, that's where I want to enter through the 78.60% Fib level. I cannot risk to short any prices above it.
A break-down from this Fib level will challenge yesterday's low and I adjust to take profit some pips above it.
This is a very risky trade as USD Bulls sending a very clear message across the entire financial markets.
Original article written by me:
https://www.finlogix.com/analysis/20220914/usdjpys-latest-shorts-squeezing
USDJPY Hourly Symmetrical Triangle Intraday Target
Last week, we saw a very impressive bullish rally that almost hit a 145 USDJPY 24-year high!
September candle looking like already exhausted as well. With weaker Euro in the past week and slowly recovering from the hawkish Greenback, the USDJPY major FX pair may be the main DXY strength meter and in sense, can be the directional factor for other rival currencies. We also saw heavy corrections on volatile pairs like USDCAD and USDCHF last week.
My plan for today is to short the USDJPY bull's 4th hourly rally attempts that is part of the lowering high channels since the said monthly attempt. I'm planting a short bomb in the 143.40-50 range.
If successful, this will confirm further down sliding move back to previous key resistance levels acting immediate supports. I'm aiming an intraday 39 pips scalp trade when the longs are getting squeezed.
However, if bulls make a strong break-out move nullifying the developing hourly symmetrical triangle, will put a wide sell stop at 144.01. Just in case this TA goes in opposite direction.
This is a very risky scalp trade with a 1 RR score only.
Original article written by me:
https://www.finlogix.com/analysis/20220913/usdjpy-hourly-symmetrical-triangle-intraday-target
XRPUSD Consolidating Bull Flag
XRP has consolidated well over the weekend since attaining $0.36 high.
Its 4H chart suggesting a Flag and Pole pattern after an aggressive rising channels hit $0.36 peak then consolidation phase followed up forming the flag formation.
I'm looking for an intraday long trade setup with a risk:reward score of 2.106.
My entry will be above 2 immediate fib supports targeting FVG resistance $0.37.
Wanting to make an entry before XRP's next PoD comes in.
Original article written by me:
https://www.finlogix.com/analysis/20220912/xrpusd-consolidating-bull-flag
GBPUSD's Developing Ascending Triangle
After GBPUSD printed a fresh 30-month low last September 7, it may have reached its bottom supported by that day's long lower shadow candle close.
Clearly, I missed a good long position from last night's delicious pullback on the 1.1450-60 support range.
However, I am seeing a developing ascending triangle formation with an immediate resistance found in the 1.1610-20 range.
Today's target is to open a short position on that area with a risk:reward score of 1.731 as I see some minor or quick profit takings by the overnight dips' longs.
I place some defensive stop loss in case today's candle will decide for more pumping as the Pound has some market sentiments with the recent passing of Queen Elizabeth II.
Also, the US dollar index (DXY) is experiencing weekly pullbacks.
Original article written by me:
https://www.finlogix.com/analysis/20220909/gbpusds-developing-ascending-triangle
@rafaelken1989
