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ALPHA/USDTPERP Potential Downward Movement

ALPHA/USDTPERP Long-Term Trend: Bearish

Key Resistance Levels: 0.94675, 1.06875, 1.14920.

Key Support Levels: 0.82905, 0.72545, 0.64545.

Daily Chart:

The price on the higher time frame posted a bearish engulfing bearish pattern which led to a reversal and a move downward. The price succeeded to break the daily support around the 0.94675 USDT mark and continued its downward movement.

ALPHA/USDTPERP Medium-Term Trend: Bearish

4-Hour Chart:

On the lower time frame, the price managed to break the wedge formation after reaching a strong resistance. This led to a reversal and a move to the downside.  We are expecting a higher correction to the highlighted zone before a new impulsive wave to the downside.

Signal Idea:

Sell Limit Order @ 0.89980

TP 1 @ 0.83095

TP 2 @ 0.82905

Stop Loss @ 0.92345

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

5 comments

  1. Hello Joe,

    Sorry, if my question sounds stupid as I am new to trading.

    What is the difference between sell limit order and buy limit order?

    In this signal, you said sell limit order:0.89980.
    The target price 1 is 0.83095. now if it reaches the target price which is decreasing. Wouldn’t that make the investing person in loss?
    I will be starting my bachelor in finance from Sept and I am trying to learn trading so I be grateful for your answer.

  2. Hello sirs,

    the signals seem pretty good, but they arrive in telegram vip group way too late.
    so please improve your system how to send to signals. better give quick telegram message: coin XY short now. and provide in second message the details.
    It just makes no sense to step in a trade half way done. Unfortunately this happens with every of your signals.

    Other signal groups are on time – hope you can manage aswell.
    For Forex the time can be enough, but crypto is much quicker. I anyhow would prefer more crypto signals since vola is much more interesting.

    Hope for improvement, since i cant continue your service otherwise.

    Thanks & kind regards
    Thomas

    • Hi Thomas, all our signals are pending orders, so you have hours in advance to place the trades.

      Are you using them as market execution?

      • Hi Patrick, thanks for your response. Yes, if possible. And with few min. earlier signal the entry would fit to market. Since i assume that these few min delay are from writing the signal post with charts etc.
        Since the price is back to entry in this moment, maybe you are right…

        Looking forward for more profitable crypto trades with you!

    • Which broker can i get this pair usdt please

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