In this technical analysis I will walk you through BCH/USD and how you can earn 22% by using this fantastic trade opportunity.
We've seen that BCH is in a parallel channel with no clear indication of trend. This means that the price is oscillating nicely between a resistance and support. Since the price is now at the lower part of this channel, we can go in with a long trade towards the upper part of the channel.
Based on the chart you can see that any buy opportunity around $270 will be a good entry, and any sell opportunity around $340 will be a fantastic exit.
Make sure to put your limit orders slightly away from those levels, for instance an entry around $275 and an exit around $330. This maximizes your chances of being hit.
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- Trading Guru
-------------------------------------------------------------- Disclaimer! This post does not provide financial advice. It is for educational purposes only!
thank you for a nice idea, i very like BCH but it is very Wildly currency ...lol.
Trading-Guru
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@StarsBit, 🙏 Thanks StarsBit. Hahaha, well put. Very wildly! But from a traders point of view I like this a lot, lots of movements, lots of volatility, many trading opportunities!
CcStars
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@Trading-Guru, Yes ofcourse, you are absolutely right, if you ride on the wave properly, everything will be great!
Trading-Guru
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@StarsBit, That's what I'm here for! The price is retracing further, keeping a close eye on this trade set-up now! Getting close to the buy zone
G0124
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Plus a golden cross formed on the 1d. I honestly expect it to be pumped higher than 340. Holding till 470-500.
Trading-Guru
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@G0124, I didn't see the golden cross yet! Do you have a link to a screenshot perhaps? Makes for a more constructive discussion, perhaps others can also learn from it :)
Trading-Guru
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I will be posting more of these regularly, so follow me to find out about great trading opportunities
Trading-Guru
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I would also like to remind you that I make all of this available completely for free. If you like my work, you can help me out greatly by giving me a thumbs up on this idea
Trading-Guru
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How would you have charted this? Feel free to post a link to your own idea here as well
Trading-Guru
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I’m curious to hear your thoughts! Let’s make use of the fantastic tradingview community and give each other feedback.