XDC – Looks Ready to GoSince the last impulse and high of 9.3 cents on August 4th, 2023, XDC was in a correction.
XDC retraced to 0.618 fib level, which is also a S/R level and the 200D EMA.
It looks like XDC found support and it is gearing up for another impulse up.
My overall target for this leg up is between 10.33 cents to 11.09 cents.
A breakout above the 50D EMA and a retest could be a long trigger.
Second trigger for a long is a daily close above 0.05397 which will constitute a bullish ChoCh.
Trade Idea No. 1:
• Entry: 0.05
• SL: 0.046
• Target:0.104
• TP: 0.07, 0.104
• R: R: 1:5 to first TP
Trade Idea No. 2:
• Entry: 0.054
• SL: 0.048 (below the 21D EMA)
• Target:0.104
• TP: 0.07, 0.104
• R: R: 1:2.95 to first TP
NFA.
What do you think? Please share in the comments.
Best Wishes.
