Based on the 4H chart of Monaco, we can see that the price bounces from the support zone. This zone is formed by Simple Moving Average with period 50 and 0.003500 support level. MACD histogram and RSI confirm price reversal. DMI shows trend market conditions and allows opening long trades. It's a buy signal. Pending orders should be placed above the high of the signal candle at 0.004600 level. Stop orders must be place below the support level. Profit target is at 0.006000 level and a part of trading volume should be left for long run.
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The market did not move upward. The pending orders for buy were not activated. They must be deleted and we have to wait for a new trading opportunity. If you have opened long position, you can hold them in long run.
Dlarvao - I'm a little confused, I see your indicators but two of them were sell signals (MACD and DMI) - I think you read your MACD wrong, the faster average went down through the slower average which is a sell signal. and your DMI was converging with downward slope. RSI had reversed but How do you get a BUY signal from this? wouldn't you want it to confirm an upward trend off the support level you show (which i agree with)?
DLavrov
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@goldbug1, I hope you know which signals provides DMI. MACD lines support downward movement and we can see this movement on the chart. I mean the price falling from 0.00600 level. But MACD lines are not fast in changing direction. MACD histogram is much better for confirmation price reversals. RSI, MACD histogram, Stochastic give the same signals. MACD lines are good for confirmation price movements. As for DMI - it does not support strong downward movement, if so we could buy.
@SatoshiNakamoto1, man wait, ignore my comment, I did type without thinking, not sure if its scam or not ...how do i even delete comments?
maxp0wer
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@SatoshiNakamoto1, hehe, no worries, I agree with the CEO's history and everything it smelled a tiny bit like scam, but u know, it was just the fact that they haven't met investors' expectations regarding licensing with VISA. It will all calm down and settle in time. Still thing it's all legit.
dalmazio
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Too much risk with MCO. There are a lot of pump and dumps with this coin, it seems more than usual. MCO typically pumps for no reason and with little or no news. It's almost like sophisticated whales are manipulating the market and creating artificial buy/sell signals, and then moving in the opposite direction. I was originally a fan of MCO, but I've decided to move my holding from Monaco to TenX.
@without_worries, there is always bias. The challenge is learning how to prevent bias from making us see things as we want them to be vs. how they are.
dalmazio
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@dalmazio, BTW I no longer gain or lose anything by seeing Monaco pump and dump. Just too much risk for me. But that's me. Your risk appetite may be different.