🧪 The NVDA of Crypto

Plus: Our New Trade on USDJPY

March 13, 2024

Good Morning!

We’re breaking down our positions and the news behind them.

After banking a massive 194% gain on $RNDR, we’ve set new entry points with a target of $20. Why $RNDR? It’s a tech titan revolutionizing AI, and its chart is just too hot to ignore. On the forex front, USDJPY is our new playground. Thanks to Japan’s economic jitters and the Bank of Japan’s recent stance, we’re betting bullish. We’ve laid out our strategy below.

In the market at large, we're seeing mixed signals. Nvidia's stock pumped the brakes on its’ six-day rally, hinting at a potential cooldown in the tech sector. Deutsche Bank's crystal ball is predicting Tesla's about to miss the earnings mark by a wide margin. Contrast that with Bitcoin's surge to $72,000 with the ETF frenzy raking in a cool $50 billion.

Let’s get into it 👇

🌡 Market Temperature Check

👾 Crypto Catalyst

$RNDR - ‘The Nvidia of Crypto’

The Play:

We just closed out our previous positions on $RNDR with a jaw-dropping 194% gain from the entry point. But the party isn't over yet! I'm laying out fresh entry points for those who want to jump on this rocket:

  • Entry 1 = $8.1535

  • Entry 2 = $7.1154

  • Entry 3 = $6.4012

Keep your eyes on the stoploss: a 4-hour close below $5.6329. Our final target? $20 per $RNDR.

Sherlock’s key RNDR levels

The Catalyst:

What's fueling this rocket? Let me break it down for you. Render, also known as the 'Nvidia of crypto,' is not just a fancy title. It's a game-changer in the world of artificial intelligence technologies. Just like NVIDIA, $RNDR's market value has been on an explosive upward trajectory, ballooning by $2 billion in just one week.

This isn't just a flash in the pan. Since hitting its lowest in December 2022 during the crypto winter, $RNDR has skyrocketed by a staggering 2,732%! And over the past year? A solid 677% increase, trading now at about $11.48.

Render isn't just about hype; it offers real value with cost-effective rendering solutions, utilizing idle GPUs to the max. Sure, it's got its challenges – security risks, complex blockchain stuff – but the potential here is immense.

Our Take:

Why is this a buy for us? Simple. Opportunities like $RNDR don't knock often. It's a blend of innovative technology, market momentum, and impressive growth. While there are risks – what good trade doesn't have them? – the potential rewards are too juicy to ignore.

So, if you're not already in the game, now's your chance.

💸 Forex Catalyst

Our New Trade on USDJPY

The Play:

Our sharp-eyed forex analyst, Czar, has locked on to an opportunity in the currencies market. Let's break it down:

Pair: USDJPY
Order: BUY LIMIT
Entry: 146.985
Stop Loss (SL): 146.585
Take Profit (TP) Targets:

  • TP1: 147.385

  • TP2: 148.185

  • TP3: 149.385

That's right – we're setting our sights on a bullish ride with the Japanese Yen.

Czar’s key USDJPY levels

The Catalyst:

So, what's stirring the pot? The USD/JPY pair is rebounding, touching 147.50 after lounging around in the European session. Why the sudden leap? It's all thanks to our friends in Japan, the Japanese Yen, taking a bit of a tumble. The Bank of Japan (BoJ) is sounding the alarm, expressing concerns about Japan's economic outlook.

Governor Ueda's got the market buzzing with his remarks on Japan's wobbly economy – highlighting that while there's some recovery, consumption remains lukewarm. Finance Minister Shunichi Suzuki adds to the mix, stressing that Japan's not ready to pop the champagne on beating deflation yet. This double whammy from the BoJ and the Finance Minister has thrown cold water on any hopes for the BoJ to step away from negative rates. Translation? A weaker Yen and a prime time for our USDJPY play.

Our Take:

We're not just throwing darts in the dark. This is a calculated move. The BoJ's hesitancy to shift from its dovish stance means the Yen's not flexing its muscles anytime soon. That's our green light for a bullish bet on the USDJPY.

Our targets? Ambitious but attainable. We're eyeing gradual ascents, capturing profits at each stage. Remember, in trading, it's all about strategic moves and timing. Our entry point is set to maximize potential gains while limiting exposure.

And hey, if you're not already riding with us at TradingLab, what are you waiting for? It's more than just trades; it's a community of traders sharing, learning, and growing together.

Join us for access to daily stock, forex and crypto signals! 👇️ 

Stacking JPY

✍ TL;DR

  • Crypto Play ($RNDR):

    • Recent 194% gain.

    • New entry points: $8.1535, $7.1154, $6.4012.

    • Stoploss: below $5.6329.

    • Target: $20 per $RNDR.

    • Catalyst: $RNDR’s AI tech growth, mirroring NVIDIA's trajectory.

  • Forex Strategy (USDJPY):

    • Pair: USDJPY, Order: BUY LIMIT.

    • Entry: 146.985

    • Stop Loss: 146.585

    • Target: TP1 at 147.385, TP2 at 148.185, TP3 at 149.385.

    • Catalyst: Japan’s economic uncertainty, BoJ’s dovish policy.

Stay ahead, stay informed, and most importantly, stay profitable.

‘til next time,

TradingLab