EURUSD Currency Exchange Pair, Strong Support at 1.2429 Level, Do Not Get Sucked In
Analyzing the 5 minute chart on Sunday, Febuary 4, 2018@5:30pm, the BlockchainStar trading team spotted a heavy dose of buyers lined up along the 1.2429 support line. The minor pullback has tested the 1.2429 support line 4 times so far without being able to punch through the support line. What this is telling us is that if the buyers at the support line continues to ward off the onslaught of the sellers by causing the constant bounces of the trend off the support line, the sellers are very powerful. This is also telling us that the Market Genie is not numerous in numbers, but packs a very powerful punch and will eventually flip the king fish sellers upside down, so all their bitcoins fall out of their pockets into the Market Genie's Cryptocurrency collection bin.
It is very unlikely that the very week king fish trader can get away from the crocodile's grip of the Market Genie. Even if the Market Genie plays the cat and mouse game where he allows the rat to run around like a caged animal waiting to be eaten alive by the hungry cat, the king fish trader will meet his demise. So, even if the bearish king fish trader, seller managed to push through and below the support line at the 1.2429 mark, he will still meet his demise from a rapid reversal by the Market Genie that will pin him against this same support line the king fish trader turned into a temporary resistance line.
The moral of the story is to use your Trailing Stop Risk management tool, so you won't be pinned by any Market Genie because any BlockchainStar reader and follower is a wise Steemian and BlockchainStar Boy or Star Girls, so no Market Genie can take your money, whether in Bitcoin or any other Cryptocurrency for that matter because you are a BlockchainStar Boy or a BlockchainStar Girl.
The BlockchainStar trading team has maintained a bullish major trend bias on the EUR/USD currency pair. Let's make lots of hey together while the opportunity exists. Remember to only trade a very, very small percentage of your total trading balance. For example, if your account balance is 2,000, you should only risk one or two percent of it, that is it. If you want to risk more, you better put more money in your account, which is not recommended, unless you are an expert.
Disclaimer: This information is not investment advice, it is just our opinion. We are not investment advisors; so, Please get your own professional investment advice from an investment advisor.
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