Following more experienced traders is a great way to boost your profits. Here are the two best Trading Ideas by SimpleFX users in February. Hopefully, you followed them.
|adamrafik58||YFIUSD Technical analysis||$50|
On February 1, SFX trader abedtouha27 wrote:
After the big gap with more than 200 pips, silver touch the strong resistance at 30$, it must now to return to the bleu channel and close the gap. 27.70 seems good point to take profit (exactly at last resistance, it became now the first support).
Selling XAGUSD high at the beginning of February proved to be a great move. The next day silver crashed 6% and has not reached the levels from February 1 so far.
Congratulations to all who followed the advice and to the Trading Idea author who gets a $50 prize.
On February 7, adamrafik58 published an analysis of YFIUSD.
the chart is showing us a clear trend line, the price is right there at the trendline, I see a good point to buy and take profit at 39000 area, just at the triple top and the strong resistance.
The recommendation proved to be very accurate. Over the next five days yearn.finance price increased by over 50%. However, if you wanted to maximize your profits, you needed to exit the long YFIUSD positions before the prices collapsed in the second part of February.
The Trading Idea author also gets $50.
It’s easy. The more analysis you post, the higher the chance of winning. Whenever you make a chart analysis with SimpleFX WebTrader, don’t forget to click the camera icon above the chart, and share your idea with the community.
If you post the link to your TI on social media, you’ll get a lifetime revenue share for every new account created on SimpleFX after clicking your link. Don’t miss out on this great opportunity.
Keep on posting your analysis. We’ll announce the next winners between March 23 and March 31.