Monero Looking to BreakMonero looking like a very nice long position right now, puling out of consolidation phase and presenting some new signs of additional volume out of the channel. Watch these Fib levels closely, but looks to me like this would be a very nice time to go long.
Entry at the long position position, but be aware of possible bear traps as always.
Happy trading!
Monerobitcoin
$XMRBTC Show Me The MoneroAfter Falling Wedge pops up to continue the cup formation, the monero can reach for higher highs.
Monero bullish scenarioPro Bullish movement:
1) Money flow is rising.
2) It formed a nice flag. When the breakout occurs, potential profit is 96% from the breakout point. (calculated by taking the height of the flagpole from the point it broke above major prior resistance. Prior resistance would be the blue line.)
3) The volume during the lifetime of the flag has been decreasing. Textbook!
4) Duration of the flag so far has been 37 days. In the crypto world that is plenty!
5) Daily stoch RSI is oversold
6) There is a bit of negative divergence on the 1 day MACD. Prices put in higher lows while the MACD is putting lower lows.
7) The price has been consolidating on strong support level(.618 fib. ret. line)
8) A-B-C correction seems to be done, with C the longest formed by 5 impulsive waves.
Enter trade if:
1) Three 1 day bearish candles trade inside the body of the bigger green candle.
By then the 4 hour stoch RSI should drop to oversold as well.
2) The 1 day RSI starts pointing up
3) If these 2 points happen, the 1 day MACD will cross. This would be a bullish sign because it will cross on a lower point than all the low points it has reached in the last year.
4) Needs to break the upper bound of the flag on strong volume.
Disclaimer:
I am not a financial advisor and this is not financial advise. When you enter a trade you should do it based on your own reasoning. Never trade with more money than you are willing to lose!
HAPPY TRADING!
XMR MONERO 3 Pete can they pull 4 in a row?BITTREX:XMRBTC
This chart is the perfect example of a Crypto Currency Scaling up. The patterns make sense and are as volatile as any crypto out there. Manic, Depressive and as Crazy as a Red Head ex-girlfriend. Monero is simple and has a huge community like Bitcoin with all the misfits and nerds that want to remain anonymous as we once thought Bitcoin was. "Ohhh the Blockchain is a public ledger?". And I thought they would never find out about my premium Netflix subscription I paid $5 dollars for on The Silk Road. Burn Everything!!!. (sarcasm)
Long, and short you can have it whatever you like, just Like AlphaBay before they excepted Ethereum. LOL
That's what I do not get about coins with an "anon" features. The ledger says legit, legit, SHADY, legit, SHADY, legit, legit. I guess that makes sense to every other Billionaire. Regardless Monero gets exchanged as much as anything else all day every day.
RETT SLOAT
RSS-Legacy
-Wolfy
Monero Long $95.25 27Sep17Monero appears to be breaking out from support but there is resistance it must break through to succeed
This is a counter-trend trade so trade smaller. Risk reward is 2.25:1
Sean Vengan
Professional Trader and Trading Educator
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XMR/BTC.(Monero/BTC)Price formed good pattern for buy:
brokeout of ressistance x2 and now reversal wedge
So, looking for rise, use 1,272 lvl F ext. as target
