- Fibonacci possible BITCOIN target
- #OPINIONLEADER# BITCOIN $77,400 target?. It takes a brave man to predict where BTC is headed other than up. I've traded FX since 2005 and I'm on safe ground because I have history on my side. My charts go back to before I started trading and this means I can look at history. There is no history looking at a BTC/USD chart and as a result I don't trade BTC. This is not the only reason. The volatility of BTC make it a dangerous (and expensive) pair to trade. Wide spreads of $80!!! You're down $80 the minute you hit the BUY or SELL button. My advice would always be stick to FX if you are a trader. However - that's if you are trading. If you have cash sat about doing nothing then buying BTC makes sense. When ex Goldman Sachs fund managers are predicting that BTC will hit $1m per coin in less than 5 years you need to listen. "The price of bitcoin could hit $1 million in five years, up from about $11,000 now, thanks to an "enormous wall of money," a former Goldman Sachs hedge-fund chief said in a recent interview". "Raoul Pal, who has allocated more than 50% of his capital to bitcoin, said a wave of institutional funds would adopt the digital currency as they realize the economy will take a long time to recover from the COVID-19 pandemic". This interview was in October of 2020 so if , as the article states Raoul Pal put half his capital into BTC when it was $11,000 then he's 5x wealthier just 6 months later. Although BTC has no history its still possible to predict where the price might be headed in the mid term. If BTC/USD is behaving to Fibonacci principles then its possible a full chart extension of the Fibonacci could take the price to $77,420. There is no doubt that this the golden age for financial investment. Take the opportunities presented by cryptocurrency investment. Check out my website for advice on my cryptocurrency recommendations.
For several sessions EUR/JPY has traded in a narrow 120 pip range as it seeks direction. The chart structure on the Daily time frame looks BEARISH with a target of 131.68 (now 136.96) where the 200 EMA sits. To the north the recent high was 139.96 but this looks unlikely to be approached before we s
Every week I shall post 3 trades on a Monday. These will either be trades that I'm looking at as possible trading opportunities or trades I have taken and I believe are worth considering. In this video I explain why I am SHORT USD/JPY and I look at potential trade setups on GBPJPY and EURCHF. If you
#OPINIONLEADER# #forexmarket# This is the 4th in a series of videos on how to set up MT4 with the indicators I use a professional FX trader. All the indicators are available on my YouTube channel. Just subscribe, like and leave your email address in the comments and I w
I am often asked some basic questions about MT4 and the best way to set it up. Of course there is no best way and one of the features of MT4 is its flexibility and multiple ways it can be set up. I'm going to post a series of videos on setting up MT4 including some basic practises which I believe ar
#OPINIONLEADER# BITCOIN looks to be squeezed between support and resistance and may track sideways for a while before we see a break out one way or another. Last week saw BITCOIN plummet 9000 points which should have suprised no-one and this is why I don't trade BTC because of this vo
#OPINIONLEADER# Many traders do not close losing trades in the belief that the trade will turn in their favour and will frquently close a winning trade for fear of missing out on profit. In this video, another trade in my FX Challenge to trade a live £250 to £1000, I look at why you s
The RKD £1000 FX Challenge - trading a live Oanda account from £250 to £1000 - every trade posted.500 pips on EURAUD (missed!)
#OPINIONLEADER# I have set myself a challenge. I have been asked many times how much do you need to open and trade an FX account. I always give the same advice. If you are a novice or inexperienced trader or indeed a losing trader then DO NOT OPEN AN ACCOUNT WITH $5000 OR £5000 BECAUS
This is another in the series of videos I am posting on my £1000 FX challenge. This is my attempt to trade £250 to £1000. Every trade I take will be recorded and posted to my website and to Google Sheets. In this video I explain how my RKD Disciplindicator identified a 500 pip Fibonacci trade.