XMRUSD LONG (long term)
Monero / Dollar BITFINEX:XMRUSD
Current price action of BTC is making me get confident to enter some positions in altcoins again.
As we all know, Bitcoin is king and it's showing it's true power pushing all the market wherever he goes.
I think BTC is going to get less unstable and BULLs are going to rule for a while, so I believe that ALTs
are going to have some space to breath, bringing us more long term opportunities in ALTs.
In longer positions we may accept bigget losses and even bigger profits targets. The position I placed
is looking for a profit target near to $ 200, which may act as a psychological resistance, so it may be
closed before reaching current target. It'll all depends on what's going on in the future.
Current target have been set according to the projection of last two tops made by XMRUSD.
Stop-loss is below an important support and below menero's last low.
RSI and MACD are bullish now.
As you can see at 1h chart, XMRUSD just broke an falling wedge , which is a bullish reversal pattern.
- Stop-loss: $ 145.6
- Entry: $ 159
- Profit: $ 206.2
- Volume: 3% of main capital
- Risk: 8.4%
- Reward: 29.7%
This is my trading record. Never forget $DYOR Do your own research! Even though I'm bullish ,
as you can see above, I'm not planning to forget the smart money management. Do yours too.