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XMRUSD 2H CHART MONERO TIMECYCLE ENTRY LEVELMonero has tested several times resistance on the $47 region. for long-term positions. A close above resistance, will lead to an immediate target of $52 However, price has been in range between major support and resistance zones for over a month. Moreover, there seems to be a timecycle we might take advantage for some trades. Bands in red and green are very narrow, to avoid risk. ATR is low, market on downtrend. Wait for a bounce back up around the cycle, and confirm with RSI, candle pattern and DMI. WNZ Get live updates and analysis of the cryptocurrency market: t.me
BITFINEX:XMRUSDLong
by WaineNZeddmo
How to Trade a Range and Potential BreakoutHello Traders, All of us want the price action to follow the direction of our trade but that doesn't happen always. The price action has a natural tendency to move up and down; build ranges and develop patterns. Most of the ranges and patterns are like whipsaws and many traders stuck in these situations and lose money. The most effective ways to deal with such a price action is patience and a better strategy. When I say better strategy that means the one which keeps you ahead of the others. In this backdrop, I have tried to spot better entry points in case the price action builds a range after a nice up move and we are visualizing a potential breakout on upside. The basic principle behind the strategy is to "Buy at the low and Sell at the high". It should be noted that the entry spots can not guarantee sure win but surely minimize our risk and increase the chances of reward. After an entry, stops can be placed either below the range or below the prior swing low -- whichever suits the situation. Same strategy can be applied, in opposite direction, in case the overall trend is down and we visualize a potential breakdown after a range. Notes on the chart. Hit like for better educational publications in future. Comments are welcomed. Trade safe. Best Regards Bravetotrade
Education
by Bravetotrade
3
Let's try and head north on Dash / BTC ? Several interesting elements here : - Nice oblique resistance - Hitting a former resistance - 0.786 fib retracement Target : as high as you can hold the position without fearing it to go downward, patience being bitter and its fruit sweet, shall we say. Taking long on bitfinex, this does not constitute an investment advice, beware of cryptocurrencies' high volatility. High might be the gains, but tough it is to manage position, having a good idea isn't enough, the hardest part being trusting your idea and not fear realising it until the end :) May the force be with you tradersview :)
DLong
by VanillaBSV