STEEMUSD trade ideas
STEEMUSD1Dthis resistence is been so strong to break, so steem/usd is going to fall again to the support so we can wait a rebound till 1.4
entry:0.93
SL:0.80
TP: 0.5 FIB LVL
have a good day and a good trade!
STEEM DOLLARS AT PARITY - POSSIBLE BULLISH SIGN Today we can see on the daily chart the steemians currency, the steem dollar, reaching an important psychological level that has served as support on past occasions.
If we see this daily chart, we can realize that for the 2 months the price of the steem dollar has been ranging between 1.50 and 0.80, creating important signals at this levels. Today, the price is reaching the parity level and we might see some important signals that might give us a clue that the steem dollar is on the way up.
This signals are:
1-Price reaching the parity level at 1.00
2-1.00 or parity level being reached three times in the last two months, going up on the three times almost to the 1.50 mark.
3-200 Moving average acting as an important sign of mobile support and being respected for the last 5 moths.
4-Last 6 candles being bearish in a consecutive way, giving for this reason a strong argument to a bullish candle for the next days.
My advice would be:
1-Waiting until confirmation of at least one bullish candle with a strong sign to enter,for the risk takers, and one bullish candle followed by another confirmation candle for the most conservative ones.
2-Stop Loss below 0.80 to create a good space for the currency to breath before going up.
3-Take profit at 1.50 to take profits is a good amount but being aware of the channel and resistance at the 1.50 level, if you put your stop loss at 0.80 you have a good 1 / 2.33 risk reward ratio.
If you have any doubts, comments or suggestions, I am here to serve and help.
God Bless Us All.
Short position. Target $1.15The direction of the support and resistance lines show the continuation of the decline with gradual stabilization. The expected level is $1.15 at the current Bollinger Bands center. The next level is defined by support at $0.98. That's when it's going to be worth buying. Now the price is at the upper Bollinger Bands border and Stochastic RSI is in the overbought area. These are the signalss to sell now.
