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TrendFollower

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Everything posted by TrendFollower

  1. When looking at Ripple, it seems it has been trying to hold the uptrend line. As Oilfxpro would say, "Buy the dips". To me it looks like there is buying at around the $1.50 level. By my calculations the Fibonacci retracement levels are around $1.76 and $1.40 which are the 50% and 61.8% of the recent rally from $0.22 to $3.31. I still cannot see any reason to go long just yet but it is $2.00 at time of writing so I will be getting very interested if I see $2.15 - $2.20.
  2. I think Ether has performed admirably during all the media shenanigans in relation to the ban in South Korea. For me this demonstrated that the holders of Ether are not selling. This is very encouraging. It seems that buyers started buying in at around the 38.2 percent Fibonacci retracement levels during the latest rally from around $600.00 to $1300 levels. For me the long term trend is strong and the time of writing I get the impression by looking at the charts that Ether is looking to make new highs and certainly test the previous high. If it does then it could mean the start of the next leg up. I really do see Ether trying to hit $2,000.00 in 2018.
  3. Bitcoin broke below the 50 day SMA on 11th January 2018 and if you look then it has been struggling to climb above it. What is positive for Bitcoin in my opinion is that it managed to hold on to the critical support level between the trend line of the symmetrical triangle and the neckline of the head an shoulders pattern. I am actually encouraged that Bitcoin is still trading at time of writing around the $14000 levels. There is a lot of negativity in the media about Bitcoin and Cryptocurrencies in general. This may be due to a lack of knowledge and understanding of what is currently happening. I see the current prices as very positive going forwards.
  4. James, I have noticed that this question just keeps on appearing in relation to cryptocurrencies. There are two options. One is for IG to simply just offer them 24-7 with no closure. The other option is for IG to consider if it could make this information more easily accessible to its potential new cryptocurrency clients. I would like to make a suggestion. When you click on 'Cryptocurrency' on the left hand side of the screen there is space on the right of Cryptocurrency. Could the opening times not simply be stated there?
  5. James (IG Community Manager) has encouraged us all to share trade ideas with each other within the IG Community. I am merely presenting my views, opinions and thoughts. We absolutely cannot say what will definately happen going forwards but we do know exactly what has happened in the past. I accept past performance does not necessarily guarantee what will happen in the future. However it can offer us the ability to make predictions and that is all they are. Those who are very good at mathematics and statisitics can then try and work out probabilities and odds of a trade working in your favour based on trends and historical price behaviour and studying patters. Do you have any ideas of a particular way to trade Ripple to ensure you minimise your losses and maximise your profits? I right now would not be even looking at a long position on Ripple until it breaches the $215.00 area and is approaching the $220.00 area. What would you suggest as a possible trading strategy on Ripple? Do you have any ideas on how to trade Ripple successfully now?
  6. I am looking at Ripple very closely. I think traders should embrace any correction which we have just witnessed in Ripple. It is a very healthy sign and in my opinion an important part of a bullish trend. I therefore welcome corrections and I certainly do not fear them. I am normally more fearful when corrections do not occur in bullish trends. I think my views come with experience. Momentum can be a key factor when trading cryptocurrencies. For those who are interested, MACD, is a momentum indicator that used the crossing of a single line in order to determine whether bullish or bearish momentum is influencing the trading action in a cryptocurrency. In my opinion without strong momentum a sustained move in either the long or short direction just cannot occur. A couple of days ago a bearish MACD cross was generated. This to me suggests that bearish momentum was influencing the price action in Ripple. I think prices will continue to correct until there is a bullish MACD cross. That may be a good time to consider changing from a short position to a long position so that you make profits regardless of whether the price is going up or down. I know Caseynotes and others use Fibonacci retracement numbers. These are a very popular technical took to help you identify counter-trend price objectives. In theory when Ripple's price stages a correction within a bullish trend, the price will correct around the 50%-62% of the move that preceded it, before the bullish trend reasserts itself. So based on this I would not be surprised to see Ripple drop to around the $1.40 level or even possibly lower. I think once this correction has concluded then Ripple will go on to test its all time high and possibly make new highs as long as positive news is released with regards to partnerships, uses and new applications.
  7. Sorry I did not see your post before. I have also noticed the strong bullish trend in Cotton. You may want to have a look at my posts.
  8. This is another example of 'Market Noise'. In my opinion the media is biased and extremely dangerous. https://cointelegraph.com/news/official-no-cryptocurrency-trading-ban-in-south-korea-government-says
  9. Ether is currently trading below its 20 day moving average. However it is still trading above its 50 and 100 day moving averages. Tomorrow will be interesting.
  10. Well Cotton hit $82.74 today. The trend is strong and bullish and if you look back at my posts this was coming. From a fundamental perspective, the US has reported strong data for actual Cotton shipments as well as export sales. This is on the eve of a key report which is due tomorrow. Also there is speculative money flowing in Cotton and this combined with demand has led to this recent rally. Tomorrow will be interesting with the USDA report. Apparently stocks have been tighter in India than USDA have reported but all will be clear tomorrow. It is worth watching the price action of Cotton tomorrow to see how it performs.
  11. I want to bring your attention to the 4th Fibonacci extension level at around $1.92. For me the sellers are in the driving seat. A simple Fibonacci correction tool shows that prices are at the 78.6% level and that’s close to an 80% correction from last week’s highs. This should be a concern for any potential buyers who are looking to go long. I think day traders should wait patiently on the sidelines until a clear trend reversal appears but bearing in mind that last week’s bull candlestick was 98% above the upper BB. This correction was inevitable and if I want to go long then I would need to see prices closing above the 61.8% Fibonacci level at around $2.24.
  12. Well Ripple is around $175 at time of writing. Clear trend reversal and downtrend in play. On balance of probability I would choose to short Ripple as the odds for a short trade being successful would be better than a long trade right now. Lots of people do not realise that as none of us can predict the future then our trades will merely reflect our assumptions. It is all about probabilities and the odds being in your favour. Charts will help us make a decision but they cannot tell us precisely what will happen next. Charts are based on historical price behaviour but the success of our trades is dependant on future price behaviour. Ripple is looking ugly at the moment. I have heard people on the IG Community talk about going long but I would seriously urge caution and wait for confirmation of a trend reversal before doing so.
  13. Ether hit $1389.00 and there is now clearly strong momentum. No doubt the media will be reporting on Ether's rise and how it is outperforming Bitcoin, etc. At this rate this will go past $2000.00 and be looking towards $3000.00 if not a lot higher. If the same aggression and assertiveness is shown in Ether's price action then this could go higher than what anyone is expecting. Bitcoin is a prime example of how something went from around $1000.00 to around $19000 within 12 months. I mentioned $5000.00 in an earlier post but if the same speculative money moves from the likes of Ripple and other alt coins as well as from Bitcoin then Ether could be on its way to experiencing a monster move upwards.
  14. I just thought I would share with the IG Community the share price performance with 1 year returns from my blockchain related investments. I have provided links to evidence the actual share price performance in relation to the past 12 months. Disclosure: My returns are not quiet as high as below but are certainly not far off as I did not invest at the start of the year in 2017. Coinsillium Group Limited - 1,296.36 % https://www.bloomberg.com/quote/COIN:PZ Kryptonite 1 PLC - 1,478.95 % https://www.bloomberg.com/quote/KR1:PZ Vela Technologies PLC - 690.32 % https://www.bloomberg.com/quote/VELA:LN Blue Star Capital PLC - 209.09% (This is my worst performer)!!! https://www.bloomberg.com/quote/BLU:LN I have no doubt that people who invested before me would possibly have even larger returns. I think 2018 will be an excellent year for blockchain investments. It is currently in vogue. It has momentum and media interest. It has assisted in delivering stellar gains in cryptocurrencies. It is apparently being labeled as the most important technological revolution since the Internet. As more and more people become aware of potential blockchain investments and more money comes into play then I anticipate the returns by the end of the year to be some of the best around in 2018. However, this is only my personal opinion. One could argue that the smart money may already have entered and is now looking for an exit. However, I think the journey for blockchain has only just began and is now hotting up. This should see a larger flow of capital into this specific area. It is better to participate in the race rather than just watch it if blockchain investments perform like I expect them to in 2018. Just ride the trends and if they last a year or two then so be it. Remember to exit and take profits when the trend reverses. Think about adding to your positions on any dips.
  15. Dimon's latest comments with backtracking ingredients were embarrassing for someone who is the CEO of one of the largest financial institutions in the world, JP Morgan. Another example of 'market noise' through articles published via media. This was on the same day that Kodak told the world that it was creating a cryptocurrency utilising blockchain technology. This has certainly 'captured' the imagination of investors as the shares in Kodak increased around 44%. More and more companies are embracing blockchain technology which is the technology underpinning cryptocurrencies. Cryptocurrencies are only one part of what blockchain can do and there are much more uses which will be presented over the coming days, weeks and months. For those investors out there, it may be worth considering introducing blockchain investments into your portfolio to really supercharge your portfolio performance.
  16. I agree with Servian's comments. A simple indicator to inform IG clients would represent good customer service.
  17. Rimmy2000, If you are looking for gains then have a look at the following companies. Coinsillium, Kryptonite 1 PLC and Vela Technologies. Disclosure: I hold positions in all three of them. I know your title was in relation to large caps and the first two companies I have mentioned have market caps around £20m and Vela has a market cap around the £10m but remember as they say elephants do not gallop! If it is returns you are looking for then there are only a few shares that will be able to exceed the returns these three companies have achieved in the past 12 months.
  18. United18, The chart for Ripple short term is not looking good. However, the smart money right now would be shorting it. In terms of trend reversal, the price action is not currently supporting such a move. For me the positive price appreciation has stopped for the moment at least. Right now the crucial point is whether Ripple is in a high-level consolidation. For those new traders what I mean by this is whether Ripple is in a basing pattern after such a monumental rally. Now this could just as easily lead to the all time high recently created or it could be a much larger correction currently occurring. Since around the middle of December, I think there has been two shortish consolidation periods result in a break to new all time highs. If the current price behaviour is similar then Ripple could break out at any time. For me a breakout above around 3.31 would confirm the high level consolidation scenario whilst it falling below around 2.15 would demonstrate that a more bigger fall was occurring. I think the 38000% price increase is just staggering and surely logic would dictate Ripple needs a break. However, in my opinion any breakout to new highs could find a lot more buying, especially with the media interest. I would just advise not to pay too much attention to the media and focus purely on the price action. I am keeping an eye on Ripple to see if a more larger pullback happens.
  19. From a purely trend following perspective, Dogecoin, has performed remarkably. I am sure most traders and investors mainly participate to make as much profit as possible. Trading Dogecoin would have achieved that. I have learnt over the years never to get to sentimental or emotionally attached to any trade or investment. It is purely a vehicle in which to try and achieve the greatest level of profits. At times it does not matter when investing in a company what it does or what its balance sheet looks like. There are times when you simply trade/invest with the trend. Disclosure: I have not traded or invested in Dogecoin. I barely have enough time with the main crypto's net alone doggy. However, from a mental perspective, the valuation and price performance of Dogecoin in crazy and purely based on speculation and nothing else. It just shows that even dog poo can achieve the smell of success!
  20. Have you considered spread betting Amazon on the IG platform? I just checked at 0.1 per point the margin required is around £623.59.
  21. At 5:32 am just now Ether was not longable. This is when potentially the next leg of the move may have commenced. This must be frustrating. As a trend follower, I like to add to my position and pyramid upwards as the price increases. IG does not allow this on crypto trading.
  22. Yes, I first noticed Bitcoin Gold on the IG App on my mobile yesterday. Just checked again and it is def. up and running. IG is very slowly building up a tradable crypto portfolio!
  23. For me from a risk management perspective that is an extremely risky strategy. Remember, Ripple, went up 38000% last year. Therefore any correction could easily be in the thousands of percent! I would not want to even consider a long position when the there is a downward trend in play. I would wait for signs that the trend has reversed before taking a long position. Then you can always add on any dips along the way. This then on the balance of probability attempts the chances of the trade to be successful more in your favour through no guarantee. If Ripple became 'longable' and you opened a long position. Then it went down further and you kept on adding long positions then you could just be maximising your losses instead of profits. These are just my personal thoughts.
  24. If you look back at my post at the end of November 2017 then I had highlighted some shares in the Blockchain space which I suggested people look at its share price performance. Well it is now January 2018 and the returns are staggering. I have multi bagged on 1, 2 and 3 and 4 is in profit. I do not have a position in 5 as it in my opinion it is junk but the returns are still impressive. I would encourage you all to look the companies and see the share price performance for yourselves. I invest and trade to make as much profit as I can. I generally do not touch FTSE 100 companies unless after a credit crunch, recession, financial crisis, etc. As they say, elephants do not gallop. I tend to stick to small caps and more specifically micro and nano caps. Coinsillium and Kryptonite 1 PLC are listed on the UK NEX Exchange. Vela Technologies and Blue Star Capital on AIM. I think Blue Star Capital is the weakest of the four plus there are 1.2 billion shares in issue. Also it is a play on SatoshiPay which has selected the Stellar platform and has a 31% stake in it.
  25. Though it was not my question, thank you James for a prompt response. I am sure your answer is reassuring to many.
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