Trading Plan 68 (November 13 – November 19, 2023) – Find Opportunities with Altcoins
one. Review final week’s trading strategy
Last week BTC continued to rise as we anticipated. The BTC scalping strategy also worked reasonably effectively:
Last week’s strategy worked in the amount one route, price tag broke out, then examined yet again and rebounded really strongly – Source: 68 Trading Plan (November five, 2023)
Furthermore, ICP and SUI spot trading signals also carried out effectively, particularly ICP rose 14%, SUI rose 35% considering that entry.
four-hour chart of ICP/USDT pair on Binance Futures, screenshot from TradingSee on the evening of November twelve, 2023
four-hour chart of the SUI/USDT pair on Binance Futures, screenshot from TradingSee on the evening of November twelve, 2023
two. Analysis and commentary on Bitcoin (BTC) subsequent week
1W chart of the BTC/USDT pair on Binance Futures, screenshot from TradingSee on the evening of November twelve, 2023
Last week, just after bouncing off the earlier week’s sideways candle, the price tag rose sharply to the USD 38,300 region and then fell somewhat to the USD 37,000 region, building a smaller candlestick shadow over. With the closing of the green candle, acquiring energy is nevertheless mind-boggling. However, we can also see that there had been promoting forces making an attempt to enter the marketplace when the price tag failed to hold the $38,300 region but was pushed down yet again.
The most considerable help zone in the W frame is nevertheless rather far away (USD 44,000). Therefore, the market’s medium-phrase development possible nevertheless stays.
1D chart of the BTC/USDT pair on Binance Futures, screenshot from TradingSee on the evening of November twelve, 2023
Frame D, just after exiting the ascending triangle, continues to demonstrate indicators of accumulation yet again. You can see that the three most latest D candles are forming an Inside Bar pattern, when the two weekend candles match within Friday’s green candle. BTC is most likely to carry on sideways in the array of USD 36,300 – 37,600. Therefore, we will carry on to have two scalp strategies for BTC:
four-hour chart of the BTC/USDT pair on Binance Futures, screenshot from TradingSee on the evening of November twelve, 2023
Plan one: The price tag continued sideways in a rectangular box, then broke out and continued the trend. So let us just observe the trend for a prolonged time.
Plan two: Price breaks over the reduce border, then falls beneath the trend line => price tag will change.
Bitcoin Dominance Index (BTC.D), screenshot from TradingSee on the evening of November twelve, 2023
Last week we predicted that BTC.D could possibly rise yet again along with BTC’s rise, but thankfully, BTC.D then fell sideways in the 52% to 53% array. This week, BTC.D may perhaps carry on sideways and this continues to be a development chance for Altcoin. However, it is also needed to keep track of this index: when the price tag exceeds the 53% zone, the altcoin could flip “red”.
three. Some strategies for Altcoins
four-hour chart of the HOOK/USDT pair on Binance Futures, screenshot from TradingSee on the evening of November twelve, 2023
HOOK broke out of the crucial resistance zone at one USD. You can wait for the price tag to change to this region to enhance. The $one reference entry can wait for lovely setups to type inside one hour – thirty minutes, so the purchase has a greater winning fee.
four-hour chart of the LEVER/USDT pair on Binance Futures, screenshot from TradingSee on the evening of November twelve, 2023
LEVER is also obtaining a rather superior develop up in the 4H chassis. The price tag is at this time among .001433 and .00154 USD. You only wait for the price tag to break out, check it and go prolonged.
four. Analyze gold and some Forex currency pairs
Currently, as some people today have requested a lot more remarks on the foreign exchange marketplace, I will include remarks on gold and some currency pairs.
Note: If you are discovering about Forex and want to obtain a superior and trustworthy trading floor, you can refer to Exness (You can use the 68 Trading website link to register, then the pm admin will be extra to the personal group).
four-hour chart of the XAU/USD pair, screenshot from TradingSee on the evening of November twelve, 2023
Last week our strategy was to wait for the price tag to move back to the USD 1965 help, view the response and then move up. However, the price tag failed to respect this help and continued to fall strongly, leading to a downtrend to type for the 4H frame. Therefore, this week you can wait for the price tag to return to the resistance at 1946.seven USD to go quick (appear for an entry in the 1H or 15m frame).
GBP/JPY four-hour chart, screenshot from TradingSee on the evening of November twelve, 2023
The strategy final week was to wait for the price tag to change to USD 184.three to acquire. The price tag failed to attain the entry we anticipated, at this time remaining in a array among USD 184.eight and USD 184.seven. Since the all round trend of the 4H frame is bullish, our key strategy is nevertheless just a prolonged view.
Plan one: Wait for the price tag to make a false breakout at the 184.eight help.
Plan two: Wait for the price tag to break the upper barrier (184.seven), then go prolonged.
five. Macroeconomic information
This week there will be some notable information:
In the day November 14, 2023at eight.30pm there will be information US CPI Consumer Price Index. As you know, the CPI is an index that measures modifications in rates of items and solutions from the consumer’s stage of see, so it is thought of crucial data for assessing the inflation condition. Normally, real information that exceeds forecasts would be taken into account good with USD and vice versa.
On November 15, 2023, at eight:thirty pm, there continued to be two crucial pieces of data relevant to the USD:
Producer price tag index IPP
Retail product sales
On November sixteen, 2023 at eight.thirty pm there will be information on the information relating to the request for unemployment advantage.
In addition to the remarks over, you can participate channel 68 Trading to be constantly up to date with high-quality trading strategies/commentary/betting from us. See you yet again in the subsequent content articles!