Technical Analysis Free Forex Signals BTC/USD Forex Signal - 14 November 2017 BTC/USD Forex Signal - 14 November 2017 Tuesday, 14 November 2017 10:50 Share 0 Tweet 0 Pin it 0 +1 Yesterday’s signals were not triggered, as there was no bearish price action when the price reached $6453.29. Today’s BTC/USD Signals Risk 0.75% per trade. Trades may only be entered from 8am London time to 5pm New York time today. Long Trades Go long after a bullish price action reversal on the H1 time frame following the next touch of $6333.72, $5638.48 or $5409.57. Put the stop loss 1 pip below the local swing low. Adjust the stop loss to break even once the trade is $200 in profit by price. Remove 50% of the position as profit when the trade is $200 in profit by price and leave the remainder of the position to run. Short Trade 1 Go short after a bearish price action reversal on the H1 time frame following the next touch of $6815.36. Put the stop loss 1 pip above the local swing high. Adjust the stop loss to break even once the trade is $200 in profit by price. Remove 50% of the position as profit when the trade is $200 in profit by price and leave the remainder of the position to run. The best method to identify a classic “price action reversal” is for an hourly candle to close, such as a pin bar, a doji, an outside or even just an engulfing candle with a higher close. You can exploit these levels or zones by watching the price action that occurs at the given levels. BTC/USD Analysis I wrote yesterday that the short-lived panic should be ignored, and that the price would be most likely to stabilize with a slightly bullish bias. This is completely validated by the action of the past 24 hours, which has seen the erasure of a lower resistance level, and support and resistance holding at $6333.72 and $6815.36. I maintain a bullish bias in line with the long-term bullish trend, but it is very possible the price will consolidate in this zone for a while. A sustained break above $6815.36 would be a bullish sign, but in the unlikely event that the price gets below $5409.57, that would be a bearish sign. Regarding the USD, there will be a release of PPI data at 1:30pm London time. Currency Pairs BTC/USD Adam Lemon Adam is a Forex trader who has worked within financial markets for over 12 years, including 6 years with Merrill Lynch. He is certified in Fund Management and Investment Management by the U.K. Chartered Institute for Securities & Investment. Learn more from Adam in his free lessons at FX Academy.