So you’ve seen that there was a small uptrend in the whole crypto market. Now if you take a look on the daily chart, you see that the price of XMR is retracing, according to the Fibonacci lines the price is still above the 0.5 and 0.618, which means that the uptrend is still going on.
Now if you take a look on the 1-hour chart, you see that there is a trend reversal forming. This one is yet not completed, but it will be soon! The possible trading plan you can setup would look as follow:
- Now you might step in when the candlestick closes above the neckline, which is the blue line.
- Your stop loss would be around 0.016337
- Your first target would be around 0.017321
I already have stepped in at 0.016147, but I am going to add more to my position if the candlestick closes above the blue line. If you want to know more about how I do this, give me a DM!
DISCLAIMER: ALWAYS keep in mind! That this is NOT an investment advice, but an analysis. You can do whatever you want with this information, so trade at your own risks!
Now if you take a look on the 1-hour chart, you see that there is a trend reversal forming. This one is yet not completed, but it will be soon! The possible trading plan you can setup would look as follow:
- Now you might step in when the candlestick closes above the neckline, which is the blue line.
- Your stop loss would be around 0.016337
- Your first target would be around 0.017321
I already have stepped in at 0.016147, but I am going to add more to my position if the candlestick closes above the blue line. If you want to know more about how I do this, give me a DM!
DISCLAIMER: ALWAYS keep in mind! That this is NOT an investment advice, but an analysis. You can do whatever you want with this information, so trade at your own risks!