Technical Analysis Free Forex Signals BTC/USD Forex Signal - 21 February 2018 BTC/USD Forex Signal - 21 February 2018 Wednesday, 21 February 2018 11:44 Share 0 Tweet 0 Pin it 0 +1 Yesterday’s signals were not triggered as there was insufficiently bullish price action at $10,894 or bearish price action at $11,532. Today’s BTC/USD Signals Risk 0.75% per trade. Trades may only be taken before 5pm Tokyo time, over the next 24-hour period. Long Trade Go long after a bullish price action reversal on the H1 time frame following the next touch of $10,164. Place the stop loss 1 pip below the local swing low. Move 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 Go short after a bearish price action reversal on the H1 time frame following the next touch of $11,263. Place the stop loss 1 pip above the local swing high. Move 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 Yesterday I had a bullish bias, seeing the overall picture as increasingly bullish. However, the last 24 hours has not gone according to plan and the situation now looks more confused with invalidations of both resistance and support, although the bullish trend line containing the lows over the past week has continued to hold, and that is a bullish sign. Despite that it feels as if short-term direction is becoming much more difficult to predict, so a period of consolidation with relatively high volatility looks like the most likely outcome. If the nearby resistance holds for a few days, we would be likely to see a strong fall, but if it breaks and the price can make a new multi-week high, a rise all the way to the $13,000 area could happen quickly. Regarding the USD, there will be a release of FOMC Meeting Minutes at 7pm 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.