Long
XMR-BTC Broke through Rising Wedge (on way to new ATH?)
Updated
XMR has been performing well against BTC this year, particularly when compared to other mid cap Alt coins. It has just broken out of a rising wedge upwards which is a bullish sign. Other TA:
- Above the Kumo cloud and TK line (not shown) (Bullish)
- RSI remains with strong momentum (staying above 50) (Bullish)
- Strong bounce from the 0.02722658 level which was also on the 50 EMA (would have been a great buy opportunity but I missed it!)
- Currently testing the 1D close ATH at 0.03400000. It may pull back from here and consolidate but overall signs are bullish.
Order Level:
- ONLY if price return back to the 50 EMA to provide a decent R/R ration for Target 1
Targets:
1 - 0.03400000
2 - 0.03798000 (1.272 fib extension)
3 - 0.04097256 (1.414 fib)
4 - 0.04521680 (1.618 fib)
Stop Loss: Below strong 0.02722658 support level to avoid being stopped out.
"Luck is what happens when preparation meets opportunity" Seneca The Younger.
Not investment advice. DYOR
Comments/Suggestions always welcomed below.
- Above the Kumo cloud and TK line (not shown) (Bullish)
- RSI remains with strong momentum (staying above 50) (Bullish)
- Strong bounce from the 0.02722658 level which was also on the 50 EMA (would have been a great buy opportunity but I missed it!)
- Currently testing the 1D close ATH at 0.03400000. It may pull back from here and consolidate but overall signs are bullish.
Order Level:
- ONLY if price return back to the 50 EMA to provide a decent R/R ration for Target 1
Targets:
1 - 0.03400000
2 - 0.03798000 (1.272 fib extension)
3 - 0.04097256 (1.414 fib)
4 - 0.04521680 (1.618 fib)
Stop Loss: Below strong 0.02722658 support level to avoid being stopped out.
"Luck is what happens when preparation meets opportunity" Seneca The Younger.
Not investment advice. DYOR
Comments/Suggestions always welcomed below.
Trade active
Update:- Price has broken down to the 50 EMA providing an opening for a trade.
- Price is below the 50 EMA but on two last times it did this it bounced. I have updated the green EMA line to 60 - this is the point the bounced occurred previously.
- Stop loss set below the previous support level at 0.02500000 (as shown below)
- Targets still as above...
Trade closed: stop reached
Will look for another entry and link to this trade....
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