Buy at support for 200% profitI would buy the VERIUSD price around $88 at the support level and target for $110, break on that above would slowly take the price to the high of $295.
1) Always trade with Sl.
2) Place your sl based on the risk appetite.
3) Price may hit a particular target and reverse, so please watch your trades and profit booking is recommended always.
4) One can do trail sl for more profits.
5) Please note: Buy at Support and Sell at Resistance is the concept. So I find the Demand zone and Supply zone, my recommendations are based on it.
6) Please dnot hold when a support or Resistance was decisively broken.
Veritaseum
Using Leveraged USDEUR QE Pair to Supercharge Outlook on BitcoinIt seems as if the USDEUR still has room to move as central banks (they are the largest forex traders worldwide) have not stopped selling EUR (www.bloomberg.com) and are still apparently accumulating dollars with abandon (www.wsj.com). IMF data to be released Tuesday may confirm many trader’s thoughts that CBs are still accumulating greenbacks. This can supercharge a BTC trader’s long/short strategy, since the relationship between the pair components will likely move with more volatility than the individual currencies themselves. This also (shameless plug) shows why you should be trading P2P in addition to (if not instead of) using centralized legacy exchanges). If you want to go into Monday long BTC buy it with the EURUSD pair, leveraged 60x (receive BTCUSD=x and pay EURUSD=x). Despite recent reversals in the USD, the medium term “force” is still higher. Conversely, if you want to go in Monday short BTC, create the contract as receive USDEUR=x (long) and pay BTCUSD=x, again at 60x leverage. Each contract should contain no collateral (if just for the day’s trading session) with the expectation of at least 50% chance of capital exhaustion (being unwound due to hitting max P/L). To extend past Monday’s trading, add collateral as needed (at contract’s creation). I would expect a ~91% net return, net of fees, on this by EOD Monday (if you picked the right side of the trade). Download the P2P trading wallet, quick start guide and spreadsheet to model the trades here veritaseum.com
