First of all I would like to thank everyone for their support may we make lots of cash for 2018 as a team!
One of our followers asked for an opinion on PPCUSD , noting he had been in it for 2 years and wondered if it still had life in it. I need to start by saying it’s a long time to hold something not going up and he may need to look at his strategy.
The chart itself has all kinds of things to like, I can see definite signs of life. We have seen a nice move up from November to mid-January (First Orange Arrow up) and has then retraced (Orange Arrow down). If you are new to my posts, retracements are a sign of health, we love them and this one looks good.
The retracement has come to an end on an area of confluence between 3 factors. We have the Black line being support at 2.6848, the 78.6 Fib Retracement (Overlaid blue line) and our favourite 200ema ( The Green line). It’s a nice area and should always have been targeted for bounce.
The market obliged with a large decisive (closing at the top) buying bar and price had edged up first. It would be a possible buy for me right now if it wasn’t for the 20 and then 50 just above. The 20 is next resistance and doesn’t offer enough profits for a Target 1.
What I would ideally like is a pullback preferable to the 200ema (still the green line), and then a buying bar on a shorter time frame (4H or H), and I will buy the top of that bar once its closed with targets at 20 , 50 and then the red lines. It could be another big winner if it gets some momentum.
If you are going to make dollars your decisions are going to have to make sense. I think a lot of people are listening to all the experts, analysis and tips on Crypto. For me there are only two types of opinions. Those that are just talk (who cares they have no impact) and ones that lead to trading decisions. These ones effect price and are seen on charts. So instead of listening to all that stuff, watch your charts and learn to understand them. They will tell you all you need to know.
Feel free to follow me I will be earning some very nice profits this year and would love it if you all make money with me.
Watch us for a new trade update