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► 02 Sep 2019 – 📈 Weekly Trading Analysis 💸
Bitcoin has broken through the wedge formation that we established last week. This is a bearish indicator which means that we could test previous support levels such as $8,000 which is close to the 200 MA.
If the market falls through the $8,000 level then we could see other levels such as $6,000. Could the whales be driving the market down and making the most in the futures market?
Litecoin has also broken below the channel that we saw last week. Could we now see LTC testing previous lows such as $50? On the Fibonacci, this confirms that we could see a fall to the 78 FIB of $48.
Great trade on the GBP of 90 pips where we indicated a potential entry for a short position. As the market hit the general trendline is reversed. Be careful as you trade GBP into the week given the volatility from Brexit.
Euro continues on its downtrend and is testing lows that we have not seen for the entire year. The trendline is strong and is likely to continue in its downtrend.
Arb Trader Ali takes a look at this and much more.
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► Warning!! ⚡️
Trading Forex & Cryptocurrency is very risky. Make sure that you practice adequate risk management to protect your account.
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► Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome. Past performance does not indicate future results. Open CDPs at your own risk!
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