XMRUSDPrett straighforeward here. A pennant which you can see is forcing price to bounce like a balll. It's either going to higher, or lower once we push through or support/resistance. Because we're in a downtrend, I'm anticipating a short......if not.....it's going higher. There's much simplicity in that. If the short takes hold, targets are 162, 150 then 100. Very low risk higher reward for either trade if you use buy/sell stops and stop losses. Right after posting this, I'm going to post a 15 min chart so you can see how epic this movement is.
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Note
We got the break down......but no volume followed. We've already retraced over support.......the ideal would have been to see support turn into resistance. Pretty listless market right now as things shake out.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.