Long
XMRUSDT completing Gartley | A good long opportunity ahead
On the small time period 1 hour chart , the price action of Monero (XMR) is completing final leg of Gartley and soon it will be entered in potential reversal zone.
Buying And Sell Targets:
The buying and sell targets as per Fibonacci sequence of Gartley formation should be as below:
Potential reversal or buying zone: $154.74 to $154
Fibonacci projection or sell zone: $155.32 to $156.73
Stop Loss:
The potential reversal zone area that is up to $154 can be used as stop loss in case of complete candlestick closes below this level.
Possible profit and loss ratio:
As per above targets this trade has a profit possibility of 1.70% and as per the above-mentioned stop loss, the loss possibility is 0.48%.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.
Buying And Sell Targets:
The buying and sell targets as per Fibonacci sequence of Gartley formation should be as below:
Potential reversal or buying zone: $154.74 to $154
Fibonacci projection or sell zone: $155.32 to $156.73
Stop Loss:
The potential reversal zone area that is up to $154 can be used as stop loss in case of complete candlestick closes below this level.
Possible profit and loss ratio:
As per above targets this trade has a profit possibility of 1.70% and as per the above-mentioned stop loss, the loss possibility is 0.48%.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.
Trade closed: target reached
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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.
Related publications
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.