XVG Falling Wedge
Updated
XVGBTC is in a falling wedge on a 4H chart. If there are not any more bad news for crypto, some gains can be made once there is a breakout. The last candle closed outside of the first falling wedge (marked with dashed lines). If the current candle also closes outside of the wedge, I believe that would be a breakout confirmation for this first falling wedge. It is crucial for this trade that the current candle closes above the dashed line falling wedge. For a longer-term trade, there's a second falling wedge (will be visible in a zoomed out view). However, I am doing a short-term trade aiming for 10% gain at this moment. MACD crossover supports upward movement. Would be nice if the downward trendline on the RSI is also broken.
My entry was at 678 satoshis and exit is at 748 satoshis. I did not set a stop-loss yet.
Criticism welcomed!
My entry was at 678 satoshis and exit is at 748 satoshis. I did not set a stop-loss yet.
Criticism welcomed!
Trade closed: target reached
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