Why Technical Analysis Is So Important To Day Traders - Warrior Trading

Trading Analysis: BTCUSD

Due to the break of structure, BTC’s upward movement needs caution and monitoring while making trades. As per the chart analysis, the price made a LL and then continued moving up. Therefore, until it breaks the blue area in the chart things on intraday looks lost. Additionally, with so many resistances positional traders should wait for proper reversal and then look for shorts.

Trading Analysis: ETHUSD

Due to the break of structure, ETH’s upward movement needs caution and monitoring while making trades. Similar to BTC, ETH made LL on 1 hr TF and BOS suggests that there might be a little downside sometime soon.

Users can follow the chart with the given marked resistances. Above 1,255 ETH should look forward to 1,400.

Trading Analysis: GBPUSD

For the intraday, look for longs above 1.22526 with targets near 1.22862 and 1.23003.

Alternatively, look for shorts below 1.22500 with targets near 1.22344 and 1.21963.

The price on longer TF suggests a return to the rise of GBP in the upcoming time till 1.24318.


Disclaimer: Crypto products are unregulated and could be highly volatile. Please be aware of the risks before investing.

Trading Disclaimer:

DIFX shall not be responsible for any loss arising from any investment based on any recommendation, forecast or other information herein contained. The contents of this publication should not be construed as an express or implied promise, guarantee, or implication by DIFX that the forecast information will eventuate, that clients will profit from the strategies herein or that losses in connection therewith can or will be limited. Trades in accordance with the recommendations in an analysis, especially leveraged investments such as foreign exchange trading and investment in derivatives, can be very speculative and may result in losses in particular if the conditions or assumptions used for the forecast or mentioned in the analysis do not eventuate as anticipated and the forecast is not realized.

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