Technical Analysis Free Forex Signals BTC/USD Forex Signal - 14 March 2018 BTC/USD Forex Signal - 14 March 2018 Wednesday, 14 March 2018 12:27 Share 0 Tweet 0 Pin it 0 +1 Yesterday’s signals were not triggered, as the price never reached the key resistance level at $9,420. Today’s BTC/USD Signals Risk 0.75% per trade. Trades must be taken by 5pm Tokyo time, over the next 24-hour period only. Short Trades Short entry after a bearish price action reversal on the H1 time frame following the next touch of $9,420 or $10,131. 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 I had a bearish bias yesterday, and the price did fall slightly. There is no change at all to the technical picture here: it still looks bearish, with no key support anywhere nearby and nothing really to hold the price up except some general buying below $9,000. This area might still hold but the price is looking a little heavier as it continues to fail to rise, being held down by the nearby resistance level at $9,420. Another failure at that level followed by a sharp move down could be a good short trade entry opportunity. I maintain my bearish bias today. Regarding the USD, there will be a release of Retail Sales and PPI data at 12:30pm London time, followed later by Crude Oil Inventories at 2:30pm. 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.