XMRUSD LONG (long term)
Updated
Current price action of BTC is making me get confident to enter some positions in altcoins again.
As we all know, Bitcoin is king and it's showing it's true power pushing all the market wherever he goes.
I think BTC is going to get less unstable and BULLs are going to rule for a while, so I believe that ALTs
are going to have some space to breath, bringing us more long term opportunities in ALTs.
In longer positions we may accept bigget losses and even bigger profits targets. The position I placed
is looking for a profit target near to $ 200, which may act as a psychological resistance, so it may be
closed before reaching current target. It'll all depends on what's going on in the future.
Current target have been set according to the projection of last two tops made by XMRUSD.
Stop-loss is below an important support and below menero's last low.
RSI and MACD are bullish now.
As you can see at 1h chart, XMRUSD just broke an falling wedge, which is a bullish reversal pattern.
Money management
This is my trading record. Never forget DYOR Do your own research! Even though I'm bullish,
as you can see above, I'm not planning to forget the smart money management. Do yours too.
As we all know, Bitcoin is king and it's showing it's true power pushing all the market wherever he goes.
I think BTC is going to get less unstable and BULLs are going to rule for a while, so I believe that ALTs
are going to have some space to breath, bringing us more long term opportunities in ALTs.
In longer positions we may accept bigget losses and even bigger profits targets. The position I placed
is looking for a profit target near to $ 200, which may act as a psychological resistance, so it may be
closed before reaching current target. It'll all depends on what's going on in the future.
Current target have been set according to the projection of last two tops made by XMRUSD.
Stop-loss is below an important support and below menero's last low.
RSI and MACD are bullish now.
As you can see at 1h chart, XMRUSD just broke an falling wedge, which is a bullish reversal pattern.
- Stop-loss: $ 145.6
- Entry: $ 159
- Profit: $ 206.2
Money management
- Volume: 3% of main capital
- Risk: 8.4%
- Reward: 29.7%
This is my trading record. Never forget DYOR Do your own research! Even though I'm bullish,
as you can see above, I'm not planning to forget the smart money management. Do yours too.
Trade active
Entry level reached, best entry zone supported XMRUSDNote
As you can see on the chart below, the MACD bullish crossdidn't take the price too high. We just had a small correction upward and XMR entered again in downward movement. Again XMR is in a falling wedge (which is a bullish reversal pattern). We had a good signal that may confirm the trend reversal: bullish divergence on RSI. We must wait and see what will MACD show us.I believe the stop-loss have been placed in a really good place in this operation and it will be hitted just in case of the downtrend keep going.
Trade closed: stop reached
Just like NEO, XMR's falling wedge became a descending parallel channel.
This is not good. This is really not good. Watch the black horizontal line at the chart above, this is an important support (that currently is acting as a resistance). XMR needs to close the daily candle above this line, or things will get really bloody for XMR. I'm not rebuying from now, I will accept that I've got stopped and sit by the side line watching.
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