A Long-Term Trading Opportunity To Buy in Monero/Euro ...Technical analysis:
. MONERO/EURO is in a Down Trend and Beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 45.
Trading suggestion:
There is a possibility of temporary retracement to suggested support zone (132.0 to 116.0). if so, traders can set orders based on Daily-Trading-Opportunities and expect to reach short-term targets.
. Beginning of entry zone (132.0)
. Ending of entry zone (116.0)
Entry signal:
Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing" , "Hammer" or "Valley" , in other words,
NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone.
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XMREUR trade ideas
XMREUR - investmentI don't know if this makes any sense nor is it precisely drawn, but I like the pattern. It reminds me on chart, posted by @Ero23.
It tells me "buy now, set stop loss at 115 and forget it for about a month". Writing this, I've just bought some @214.19.
Disclaimer: this idea is solely for my own purposes, to satisfy the ego, if it will work out ;)
Monero: Have you formed the C of CD leg????It seems C has finally formed on Monero. If this is correct then we are looking at getting in to take advantage of price moving up to D (78.6%) which will complete the Gartley pattern.
I have been long for some time (was painful 3 weeks watching price go lower / side ways) but we have some really positive price action now including today BIG green bar.
I will post in the notes entry / add to position, stop & take profit soon.
XMREUR - waiting for retraceXMR did a nice move. Possible entry point after retrace to marked level between 166 and 173 EUR.
If there will be no retrace ... well, we'll catch trade opportunity sometime in the future.
Disclaimer: this idea is solely for my own purposes, to satisfy the ego, if it will work out ;)
Monero: Why are you going down?In this video we are trying to answer the question of why after a very stong move up (circa 165%) Monero is having a pull back. From what i see in the charts a B seems to be forming of a Gartley pattern at 61.8 fib level. If this is the case we will get a C in the region of 23.6 fib level before a move up to D at 78.6.
This is still very early so I'll update as things progress in terms of entry point / stop loss etc.
Probably down againXMR VS EUR had a big drop in the last couple of days following BTC and the market in general. The support line of a general downtrend is still intact though. Will this bounce the one that inverts the trend? I have some doubt as the MACD still negative and volume low. Many sold theyr coins during the fall and are not confident enough to enter long again. I'm wating for a confirmation before opening a position. Let's see also how the MoneroV fork coming next week will influence the price.
Monero network hashrate just hit 1GH/s! I remember when it was at 16 Mh total. The primary evidence of ASICs would be a dramatic decrease in output from non-ASIC hardware (due to difficulty rising disproportionately with price).
In the past year difficulty has increased by 13x (source: chainradar.com 1 year chart) and price has increased by 19x (source: coinmarketcap.com 1 year chart) while the block reward has decreased by 40% (source chainradar.com 1 year chart, also emission formula). Putting this together:
19 / 13 * (1-40%) = 0.87
Meaning revenue with constant hardware and power costs has dropped by 13%. Maybe significant but hardly 'dramatic'.
That's probably consistent if not smaller than the rate of technological progress (better CPUs and GPUs), meaning there is no real decrease in profitability assuming regular hardware upgrades.
This is frankly much ado about nothing. Hash rate of successful coins with increasing prices will always rise, and when the price rises a lot so will the hash rate.
Expect Monero to move up above 370 vs Euro In line with the expectations for Monero/Dollar anticipate a move above 370 after a retrace below the 300 level.
Given the marketstructure the retrace might even go to 250.
Look for swelling volume as an early indicator or the next wave up.
For now volume is drying up, so expect more downside first.
XMR - NeutralMonero is interesting right now.
Weve completed a 61% retracement of the big breakout.
But we have rallied back to resistance.
There is a lot of competition from other privacy coins and the upcoming BTC fork of BTC private might kill the privacy coin market dead.
Interesting times?
What do you guys think of the 'Prvacy COIN' market?
Waiting for strength to get back on XMRIn two days around christmas XMREUR went on a crazy 100% swing, but the MACD on the daily crossed hinting at further weakness.
Together with most cryptos (BTC, REP) XMR corrected violently to its 62% Fibonacci level computed from the pre-christmas advance
The bounce on 62% fib is much lower that the lower boilinger band, the MACD is still showing weakness, so I would stay out of XMR right now until show of strength.
If it starts trending up, I will look at 305 (middle of the boilinger band) for resistance. Currently the SAR indicitaor shows indecisions (dotted lines).