This trade is crazy, but It is what the charts are telling me. the weekly XMR chart has moved in a very predictable pattern. Huge push up in a single week or two followed by a huge correction to the middle of .236 and 0 Fibonacci lines. This cycle has repeated 3 times, and the cm William bottom finding indicator is indicating that this is the bottom or very close to it. The 1.618 in second cycle was hit perfectly by the third. We should look to close our longs somewhere between the 1-and 1.618 fib level from cycle 3. This is a stop is placed at 0.00249(18%) and below the 0 fib retracement level. Though this trade is very tempting,the potential risk is huge. Please study the chart and trade at your own risk if you decide to take this trade. This is also a longterm trade so do not expect this to happen overnight.
Edit: same pattern showing up on ETH/BTC weekly and Waves/BTC Weekly. The end of the massive BTC over-performance vs ALT under-performance cycle thats been in place since june might be coming to an end soon.
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We await entry
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this trade will be done in 2 or 3 stages. We enter now 1/3rd of our position for this trade at 0.01295
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We pick up part 2/3 of our position at 0.0121
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we move stop to 0.0096
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patience pays off. We await for 3rd entry. Remember this is long term trade.
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we look to pick up third part of our trade at .0110 - 112 if opportunity presents itself. If not we do not add to our position
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Update 2:
we move stop to 0.0139. Target 1 set at 0.0182. You can unload 25-33% of position here. We are likely to get rejected by the 300 sma(Blue Line) right below it for the time being
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alternative for USD variation stop can be moved up 106.00
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we blown past target 1, with no signs of slowing down. Hence we do not take profits. StochRSI and MACD are running on full steam. just now. Target 2 now in sight at .023. If we get rejected here we can take 33% of trade of the table. However we will watch price reaction
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Target 2 in sight, Keep watch on price action. We can sell 25% of position if we place stoploss on 0.0191 if you feel nervous. .618 is strong reversal fib and we will need good momentum to break it.
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Stop moved up to .159 We were strongly rejected by the .618. We will need lots of momentum to break this resistance. Expect further downside and bounce off hard support, in order to pick up momentum. We are still doing great USD wise 40% up or $35 per monero
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Price has not reacted well to the .618 fib, and has broken our hard labeled support. We can close this trade at 38% profit. We will look for new opportunities when the market presents them.
we blown past target 1, with no signs of slowing down. Hence we do not take profits. StochRSI and MACD are running on full steam.
just now. Target 2 now in sight at .023. If we get rejected here we can take 33% of trade of the table. However we will watch price reaction
ecicic
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we are in profit of 20% BTC wise, 30%usd wise . Average buy in price at 0.0125 or $86 USD. Hence we are not going to lose money on this trade. Stop loss can moved to 0.0130 for free trade and profit. Alternatively if you prefer USD alot of markets offer xmr/usd trades. We can set stop at $97 if that is preferred. Target 1 is 0.0182. We will take some profits there 25%-33%. Either we reach our target or get stopped out but still gain money. I expect turbulence around 0.0160 but do not get shaken out. Happy Trading
we blown past target 1, with no signs of slowing down. Hence we do not take profits. StochRSI and MACD are running on full steam.
just now. Target 2 now in sight at .023. If we get rejected here we can take 33% of trade of the table. However we will watch price reaction