✍️ Weekly Trade Plan & Recap 31st Mar - 5th Apr
Market analysis for Ripple, Binance Coin, Bitcoin, Hedera Hashgraph, Dollar Index, Euro, Gold, Silver, Copper, WTI Oil, S&P 500, Russell 2000 and Nasdaq.
Last Week
It was a quiet week with just one new trade added to our open positions on Thursday. That was Binance Coin (BNB/USDT).
Here’s the trade idea on the 4 hour chart. The stop is placed below the triangle at 495 with a first target of 669 which is the November 2021 high. After that, we’ll see if it can break the all-time high of 691.
As of the time of writing (Saturday morning), BNB has made some progress out of the triangle, so we’ll see how that one goes!
Another long Crypto trade we are currently in is Ripple (XRP/USDT).
You may remember on March 11th, I warned members and Twitter/X followers not to FOMO into Ripple.
9/10 times, these fast pumps will completely retrace, and that’s exactly what happened.
When the market pulled back to Demand, I gave the signal to go long, but with an emergency stop well out of the way. That turned out to be the right thing to do as price action has been choppy and spiked Demand a few times.
Targets on this trade are the high of the initial “FOMO pump” at 0.7455 and then last July’s high at 0.9443.
One further observation on the 4 hour chart… price range is compressing, which means we may expect a breakout soon.
British Summer Time ⏰🌞
Don’t forget UK clocks move forward by one hour on Sunday morning, so the regular time difference of 5 hours between London and New York is back.
Next up, for members only, we’ll look at the Dollar Index, Gold, Silver, Copper, WTI Oil, S&P 500, Russell 2000, Nasdaq, Bitcoin and Hedera Hashgraph. 👇🏼👇🏼👇🏼