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​​Session of one of the traders was closed with a yield
+80%🔥 the pair GBP/CAD brought +$40,000 PROFIT💰
We continue to work.


​​Session of one of the traders was closed with a yield
+80%🔥 the pair AUD/CAD brought +$16,000 PROFIT💰
We continue to work.


​​Session of one of the traders was closed with a yield
+78%🔥 the pair EUR/USD brought +$46,800 PROFIT💰
We continue to work.


​​Canadian Dollar Outlook: USD/CAD a Break above 1.3200 price – What is Next?

On July 26, USD/CAD closed with a Doji pattern indicating to a possible risk of reversal. On Wednesday, the price dropped to the boundary of 1.3100 handle. However, the buyers took charge after, sending the pair yesterday to its highest levels in six weeks.

This week, the Relative Strength Index (RSI) rebounded from 50 then pointed higher emphasizing the seller’s lack of momentum to start a fresh downside move.


Today, USD/CAD tests a move to the higher trading zone 1.3224 – 1.3280. Hence, a close above the low end could send the price towards the high end in the next week. Although, the weekly resistance level underlined on the chart (zoomed in) should be kept in focus. Further close above the high end may cause a rally towards 1.3357. Nonetheless, the weekly resistance level and zone marked on the chart should be considered.

On the other hand, any failure in closing above the low end could send the pair towards 1.3166 contingent on clearing the handle drawn on the chart (zoomed in). See the chart to know more about the lower trading zone/s with the daily and weekly support levels the price might rebound from in a further bearish scenario.


​​Session of one of the traders was closed with a yield
+87%🔥 the pair GBP/CAD brought +$26,100 PROFIT💰
We continue to work.


​​AUDUSD Technical Analysis: Sellers Aim at Three-Year Support

- AUDUSD break of six-week uptrend hints downtrend has resumed.
- Support now at June 2016 floor, break may expose 2019 spike low.
- Long-term setup suggests AUDUSD heading to lowest in a decade.

The Australian Dollar broke rising trend support guiding the advance against its US counterpart since mid-June after recoiling from resistance capping gains since early December 2018. The breach paints the upswing as corrective and suggests that the dominant down move has been re-engaged.

Prices have gone on to overcome the July 10 low at 0.6911, setting the stage to challenge a defining support block running down through the January 2016 bottom at 0.6827. A daily close below that probably puts the 2019 spike low at 0.6744 in the crosshairs.

The first substantive layer of resistance is clustered around the 0.70 figure. However, buyers would likely have to manage a breach above falling trend resistance – now at 0.7069 – to convincingly neutralize the bearish bias and make a convincing case for upside follow-through.


​​Session of one of the traders was closed with a yield
+78%🔥 the pair EUR/USD brought +$23,400 PROFIT💰
We continue to work.


​​Session of one of the traders was closed with a yield
+87%🔥 the pair GBP/CAD brought +$26,100 PROFIT💰
We continue to work.


​​Session of one of the traders was closed with a yield
+83%🔥 the pair USD/JPY brought +$24,900 PROFIT💰
We continue to work.


​​Crude Oil Prices May See Clashing Cues in Eurozone PMI, EIA Data

- Crude oil prices edge up as risk appetite firms in Wall St. trade.
- Eurozone PMI, EIA inventories data may offer divergence cues.
- Gold prices vulnerable as US.

Dollar attracts liquidity demand
Crude oil prices rose with stocks in risk-on Wall Street trade. Markets cheered after the US Congress reached a debt ceiling deal with the White House, reducing uncertainty and unlocking some capacity for fiscal policy support. Meanwhile, hopes for easing US-China trade war tensions emerged as a meeting between President Trump and key tech executives hinted that lowering sales restrictions on Huawei may be on the table.

The chipper move translated into higher bond yields. The US Dollar had been trending higher since the prior day, and an upshift in rates-based support certainly didn’t hurt. Taken together, that understandably eroded support for non-interest-bearing and anti-fiat assets to the detriment of gold prices.

Looking ahead, a downbeat set of Eurozone PMI figures might pull the spotlight back to the broader slowdown in global growth, souring sentiment and nudging oil back downward. Losses might be capped if EIA inventory data – where a 4.4-million-barrel drawdown is expected – registers closer to yesterday’s API projection calling for a mammoth 10.96-million-barrel drop.

As for gold, a risk-off shift in the markets’ mood might see lower bond yields competing for influence with a US Dollar buoyed by liquidity demand. If scope for pricing in further Fed easing is as exhausted as it seems, the Greenback might prevail and pressure the yellow metal downward.


​​Session of one of the traders was closed with a yield
+87%🔥 the pair GBP/CAD brought +$17,400 PROFIT💰
We continue to work.


​​USD/CAD Price Chart Outlook: Grind Lower Tests Key Support

- Spot USDCAD’s grind lower could come to a halt if key technical support holds around the 1.3000 handle.
- USDCAD pressure could accelerate if the major area of confluence fails to keep spot prices afloat.

Spot USDCAD has edged lower over the last several weeks after printing its recent top of 1.3517 on May 31. Since then, the currency pair has swooned nearly 3.5% lower as upbeat Canadian Dollar prospects encompassing better-than-forecast economic data and a firm BOC coupling with US Dollar weakness driven by increasingly dovish Fed expectations contributed to the downward push.

From a technical perspective, spot USDCAD is now treading water slightly above support at the 1.3000 handle – a major level of confluence dating back decades. This area of support will need to be taken out before bearish momentum can continue.

Spot USDCAD selling pressure accelerated subsequent to the break of 2018’s bullish uptrend. Although, the currency pair threatens to stay afloat with technical support provided by the psychologically-significant 1.3000 price level – which happens to align with the 38.2% Fibonacci retracement of January 2019’s high and September 2017’s low. While premature, a potential inverse head-and-shoulder pattern could be forming. A sharp rebound higher off the current level of technical support would likely serve constructive to this thesis.


​​Session of one of the traders was closed with a yield
+83%🔥 the pair AUD/JPY brought +$33,200 PROFIT💰
We continue to work.


​​Canadian Dollar Price Outlook: USD/CAD Looks to Accelerate the Downtrend Move

This week USD/CAD buyers have been capped at 1.3092 showing no impulse to keep pushing the price higher. In turn, the bearish move also has been showing slow down signs leading the pair lower however ineffectively.
Alongside this, the Relative Strength Index (RSI) rose from 31 to 40 then remained flat after, negating any effective momentum from the buyers.

Looking at the daily chart we notice on Wednesday USD/CAD failed to rally towards 1.3126 and tumbled towards the same old trading zone 1.3008 – 1.3064. The pair currently eyes the low-end of this zone hence, a close below this level may see the price trading towards 1.2920. However, the weekly support levels highlighted on the chart (Zoomed in) need to be kept in focus.

On the other hand, a close above 1.3126 could cause a rally towards 1.3166 although, the weekly resistance level underlined on the chart needs to be watched closely.


​​Session of one of the traders was closed with a yield
+83%🔥 the pair USD/JPY brought +$33,200 PROFIT💰
We continue to work.


​​Gold Prices Stuck in Range Amid Market Slump as USD Holds Up

- Gold prices unable to break range even as yields drop in risk-off trade.
- Broadly resilient US Dollar might be capping scope for anti-fiat gains.
- Crude oil prices continue to sink after telltale trend line support break.

Gold prices surged as risk appetite withered across global financial markets. That pushed bond yields down alongside stocks, boosting the appeal of non-interest-bearing alternatives including the yellow metal. Sentiment-sensitive crude oil prices fell in line with the broader risk-off push.

The defensive mood emerged at the opening of European trade as traders there took their turn to respond to the latest trade war threat from US President Donald Trump. He poured cold water on hopes for a US-China détente after talks resumed at a G20 meeting in June, saying more tariffs could be imposed.

Soggy US economic data as well as a round of worrying earnings reports – notably from Netflix and freight operator CSX – extended the selloff into Wall Street trade. The catch-all MSCI World Stock Index suffered its largest daily drop in over a week.


​​Session of one of the traders was closed with a yield
+78%🔥 the pair EUR/USD brought +$31,200 PROFIT💰
We continue to work.


​​AUDUSD Technical Analysis: Double Top Forming Below 0.7050?

- AUDUSD hints at double top with Bearish Engulfing candle pattern.
- Confirming longer-term reversal calls for one-month trendlinebreak.
- July’s swing top near 0.7050 continues to mark immediate resistance.

The Australian Dollar tried its luck on the upside once again. Last week’s attempt at bearish reversal was cut short above the 0.69 figure and followed by a retest of downward-sloping trend resistance capping gains since early December 2018. Sellers might yet prevail however as the appearance of a Bearish Engulfing candlestick pattern hints a Double Top reversal is in the works.

Australian Dollar vs US Dollar price chart - daily
Zooming in to the four-hour chart appears to bolster the case for a downside scenario. Prices have demonstrably breached support defining the upswing from last week’s bottom, signaling that the move has been exhausted. Near-term support is holding back a deeper selloff thus far however, warning that the case for a reversal rather than mere consolidation is as-yet unconfirmed.

Breaking the broader upward trajectory established along swing lows over the past month seems like it would be a more convincing indicator of downward follow-through. That would amount to clearing the block of back-to-back support levels in the 0.6934-53 zone. Several minor inflection points aside, achieving such a break probably sets the stage to challenge the pivotal January 2016 bottom at 0.6827.

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