There is a trading opportunity to buy in XMRUSDMidterm forecast:
While the price is above the support 26.05, beginning of uptrend is expected.
We make sure when the resistance at 68.20 breaks.
If the support at 26.05 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
A peak is formed in daily chart at 67.79 on 05/18/2020, so more losses to support(s) 60.05, 54.05, 44.00 and minimum to Major Support (26.05) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 61.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (54.05 to 44.00). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (54.05)
Ending of entry zone (44.00)
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. To learn more about " Entry signal " and the special version of our " Price Action " strategy FOLLOW our lessons :
Take Profits:
TP1= @ 60.05
TP2= @ 68.20
TP3= @ 82.15
TP4= @ 96.50
TP5= @ 120.95
TP6= @ 137.95
TP7= @ 168.70
TP8= @ 230.10
TP9= @ 298.90
TP10= Free
