Good evening/morning traders and OXT fans,
OXTUSD is forming an interesting pattern and might give us some profits. Please see the following key points on the 4 hourly chart:
1. Forming classic RSI and MACD bullish divergence for the 1st and 2nd low.
2. The 3rd low is a higher low: proving that the bullish divergence could be real for a trend reversal.
The potential pattern could be an inverse head and shoulder (not perfect because the right shoulder is lower than the left one, but the trend should be similar) if the price hits the neck line.
The neck line is a strong resistance so remember to take profit first. If the neck line is broken and the price holds, the 100% measured move of the target is at 0.2042 USD, aligned with a long-term strong resistance.
This trade is very speculative in my humble opinion. Do your research and make your own decision.
HakoneDream
OXTUSD is forming an interesting pattern and might give us some profits. Please see the following key points on the 4 hourly chart:
1. Forming classic RSI and MACD bullish divergence for the 1st and 2nd low.
2. The 3rd low is a higher low: proving that the bullish divergence could be real for a trend reversal.
The potential pattern could be an inverse head and shoulder (not perfect because the right shoulder is lower than the left one, but the trend should be similar) if the price hits the neck line.
The neck line is a strong resistance so remember to take profit first. If the neck line is broken and the price holds, the 100% measured move of the target is at 0.2042 USD, aligned with a long-term strong resistance.
This trade is very speculative in my humble opinion. Do your research and make your own decision.
HakoneDream
Order cancelled:
OXT fans,
Disappointment again! It failed to break the neckline and now created a lower low.
Le'ts wait for another big pattern in the future.
Disappointment again! It failed to break the neckline and now created a lower low.
Le'ts wait for another big pattern in the future.
It seems that OXTUSD is going to test the neckline. Take the profit now might be a good idea.
If you want to pursue the potential 10% profit above the neckline, remember to be patient and careful. This one has a history of jumping and dumping.