You Could Have Gained Huge Following These August Trading Ideas

Forex traders dominated the Trading Ideas contest last August. We chose three forex and one crypto Trading Ideas who made great on-point predictions on USDJPY, EURGBP, GBPNZD, and BTCUSD. Follow other traders on SimpleFX to get inspiration on your next moves and earn massive profits.

Congratulations to the following winners!

Trading Idea | Author | Reward

USDJPY time to buy

purwantokali

$30

EURGBP technical analysis | adamrafik58 | $30
GBPNZD technical analysis | abousarah25 | $20
Btc setting up to explode | D4RKFLOW | $20

On August 3, SimpleFX trader purwantokali wrote:

“As we can see clearly, the price has a strong support at 109.10 area, a triple bottom is formed perfectly, which it’s a good sign to go long until 110 area to test the yellow trendline and take profit.”

Buying USDJPY at the 109.10 level proved to be an excellent move as this pair climbed towards a 110.797 high in 8 days with a 1.39% gain. Traders who followed his advice and went long with high leverage reaped huge ROI. Congratulations.

Another trader adamrafik58 wrote on August 10:

“this pair is forming a great double bottom at 0.8470 area, the bulls are ready to take control again, I think buy now and take profit at the first resistance of 0.8526 and 0.8562 as 2nd target when the price touch the trendline is a good deal for the next days.”

Going long was the right decision. Two days after posting his trading idea, EURGBP made a 5-day win streak, climbing from 0.84750 on August 10 to 0.8521 on August 17. The price increased further and reached a high of 0.8589 on August 20. Great job for this accurate forecast. What a great deal indeed.

Our third Trading Idea winner abousarah25 wrote on August 3:

“After the big move and testing the psychological level of 2.000, the pair now is making a big correction, and it’s looking for a strong support, now it’s located at the first support of 1.9850, and it seems that it keeps going down trying to break the trend-line at 1.9700 sell now and take profit at 1.9700 seems a good deal for me.”

We got another great prediction here. As the trader shorted, GBPNZD went down from 1.9881 (August 3) to as low as 1.9646 (August 11), dropping by 1.18% during this period.

Congratulations to this trader who won an easy $20 reward just by sharing a trading idea.

Our last winning Trading Idea comes from D4RKFLOW who wrote on August 6:

“Testing kumo resistance abd previous trendline”

After predicting a bitcoin price explosion, BTCUSD broke the $47,000 barrier 8 days later, gaining a massive 17% or $7031. What an excellent forecast from another SimpleFX trader.

Traders who opted to hold on until now could have taken huge returns as BTCUSD gained 24.4% or nearly $10,000 in less than a month.

Want to share your Trading Ideas too? Help other traders and earn rewards just by posting your next moves on SimpleFX. Check our short guide here.

Each month, we pick the best Trading Ideas and send the authors rewards. Keep on sharing and trading!