Long

MONERO BREAKOUT

Updated

Monero has just broken a 2 weeks strong downwards trendline just when it was trying to break a huge triangle that would have taken it to retest its november lows.
With a unable to scale bitcoin (check this tx blockchain.info/tx/71ec2ec36448788f4754126b6925ac7d2b3ff542a52224f7f8d4ffa93c485414), a potential bitcoin etf rejection, and a strong technichal setup for a long, we could be heading to a new bull cycle that could take it to new highs.

Technichals to support a long:
Weekly, daily and 12h RSI at its lowest since november
Triangle breakdown rejected
2 weeks trendline broken

Margin x2
Entry point: 0.0103
Targets: 0.0123, 0.016, 0.022 and 0.026
SL: triangle breaking down again.

Note

daily MACD about to go bullish
No daily close under the triangle support, just some wicks.
Dash pump is over and now short-term speculators looking for new pump. Specially if eth corrects here at ~0.016/20usd resistance area, money could start flowing into monero.

Note

Target 1 reached.
Closed 20% of my position at 0.012

Note

Reloading 10% at 0.0106 and 10% at 0.0101.

soft SL at ~0.0096

Note

Got filled.
Then reducec my position by 50%
i dont want to get caught by real etf news.

Note

I closed 50% at 0.0102 for a 0.5% loss.
I also reached target 0.012 5 days ago, for a 3.5% net profit.
So so far this trade provided a 3% net profit and still ongoing 50% of it.
Analyzing it, i shouldn't have closed that 50% of my long, but i "fomo'ed" with that bitcoin pump this morning.
Anyways, we are still in the game, and still in green, so, so far, so good.

Note

Monero clock is ticking. the range narrows. soon it will either shoot up, or dump or resolve with a boring sideways.
I'm pretty confident we will go up.

Note

Bull resolution confirmed.
Just raised my Stop Loss to profits, just under the triangle at 0.0117

Note

This time i'm trying something different. Instead of simply selling my target, now that we have smashed it i'm placing a stop-limit order on my target (0.016). If we pull back there, i'll get stopped for 20% of my original position (40% of remaining position).
This way if we go full bubble i'll haven't sold too soon, and if we pull back i still have sold my target.
So here we go monero.

Note

Okay, this is too much bullish exhuberance.
I just closed 20% of my original position at 0.0182 and removed that SL at 0.016.
Pocketed 30% net profit after margin.
Now looking forward to a nice dip to rebuy, or just keep riding this with my remaining position.

Note

Target 3: REACHED

Note

Closed 20% on target 3 (0.022)
That means a 45% net profit after margin.

So far this trade has provided AFTER MARGIN:
target 1: 6.6% profit
(0.012/0.0103*-1)*0.2*2=0.066
fomo close prior bitcoin etf rejection: 1% loss
(0.0103/0.0102-1)*0.5*2=0.0098
target 2: 30% profit
(0.0182/0.0103-1)*0.2*2=0.306
target 3: 45% profit
(0.022/0.010-1)*0.2*2=0.454

TOTAL NET PROFIT: 81.6%

And i have still 10% of my remaining position ongoing.
So that means my current ROI is 90%+81.6=171.6%

NOT BAD :/

Note

Current outlook of monero is not pretty at all. Could the pump be over?

Note

It changed quite a bit in this 35 min:

Now we have bull divergence in RSI 15m, 30m and 60m
Also macd divergence in 15m and 30m
Also downtrendline broken.

Note

Paying attention to these trendlines.

I might reload some bits of my long at a succesfull retest and rebound on them.

Trade closed: target reached

Last target for 10% of position was never reached. Nevertheless total net profit reached 85%, accounting for a 185% ROI.
I'm into a new Monero long.
Check it here:

bagofXMR

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by bagofXMR

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