Technical Analysis Free Forex Signals BTC/USD Forex Signal - 8 March 2018 BTC/USD Forex Signal - 8 March 2018 Thursday, 8 March 2018 12:14 Share 0 Tweet 0 Pin it 0 +1 Yesterday’s signals were not triggered as there was no bullish price action at $9,886. Today’s BTC/USD Signals Risk 0.75% per trade. Trades may only be entered until 5pm Tokyo time, during the next 24-hour period. Long Trades Go long after a bullish price action reversal on the H1 time frame following the next touch of $9,375. 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. Take off 50% of the position as profit when the trade is $200 in profit by price and leave the remainder of the position to ride. Short Trades Go short after a bearish price action reversal on the H1 time frame following the next touch of $10,131 or $10,696. 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. Take off 50% of the position as profit when the trade is $200 in profit by price and leave the remainder of the position to ride. 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 price was looking most likely to continue downwards to an area below $10,000, so I had a bearish bias. The price did move down, invalidating the first support level but leaving intact the level at $9,374. The price is rising at the time of writing, testing the resistance at $10,131 which is showing initial signs of holding. I have only a slight bearish bias as the buying is quite bouncy near the support level at $9,375, but it would not be a surprise if the resistance at $10,131 holds. There is nothing due regarding the USD. 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.