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.
This is still very early so I'll update as things progress in terms of entry point / stop loss etc.
Note
Monero (xmreur) has bounced nicely off the monthly pivot. I still think is will go down some more possibly to the arrow in the chart (missed weekly central pivot) before heading higher (C D leg).Note
Monero seems to have found its C, now lets see if it continues up to D.Fingers crossed :D
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.