MDXUSD Hit its 1D MA200 for the first time ever!Mdex (MDXUSD) hit and broke above its 1D MA200 (orange trend-line) today for the first time in its trading history. This comes after a prolonged selling sequence starting from the September 06 2021 High, whose Lower Highs trend-line actually broke 3 days ago.
This is a major bullish break-out for this token but in order to be completed we ideally want to see a 1D candle closing above the 1D MA200. In that case, we can target each Fibonacci retracement level but still would be best to avoid the 0.382 - 0.5 Fib Zone due to its High Volatility trading during mid January - April 2022.
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MDXUSD trade ideas
MDX MDX/USDWave B seems to have ended due to irregular correction and we should expect wave C to be in the range of 1.618 Fibonacci from the previous wave.
We should also pay attention to the positive divergence in MACD and the double top pattern in RSI.
MDXUSD H16: 150% gains BEST Level to BUY/HOLD (SL/TP)(NEW)Why get subbed to me on Tradingview?
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MDXUSD H16: 150% gains BEST Level to BUY/HOLD (SL/TP)(NEW)
IMPORTANT NOTE: speculative setup. do your own
due dill. use STOP LOSS. don't overleverage.
🔸 Summary and potential trade setup
::: MDXUSD 16hour//candle chart review
::: strong bullish chart overall
::: speculative XABCD setup
::: accumulation in progress
::: however correction mode next
::: few weeks so for now recommend
::: to stay out of this market
::: recommend to focus on buying low
::: I don't think that we are ready to MOON yet
::: accumulation in progress / more time required
::: best trades near point C for the BULLS
::: it's a strong prior bull market so can
::: so expecting at least one final PUMP
::: BULLS get ready to BUY after pullback
::: TP bulls is 150% gains
::: TP BULLS +150%/+200% gains max
::: patience required next few weeks
::: BEST reload BULLS is near range lows
::: as we are getting ready for a move now
::: final TP BULLS is +150%/+200% gains max
::: BULLS seek to BUY LOW near 1.30 USD
::: final TP BULLS is +160% at 3.00 USD
::: good luck traders!
🔸 Supply/Demand Zones
::: N/A
::: N/A
🔸 Other noteworthy technicals/fundies
::: TD9 /Combo update: N/A
::: Sentiment mid-term: BULLS/BUY PULLBACK
::: Sentiment short-term: BEARS/CORRECTION
RISK DISCLAIMER:
Trading Crypto, Futures , Forex, CFDs and Stocks involves a risk of loss.
Please consider carefully if such trading is appropriate for you.
Past performance is not indicative of future results.
Always limit your leverage and use tight stop loss.
