Technical analysis: . RaventCoin/US Dollar is in a range bound and the beginning of uptrend is expected. . The price is below the 21-Day WEMA which acts as a dynamic resistance. . The RSI is at 43.
Trading suggestion: . There is a possibility of temporary retracement to suggested support zone (0.0251 to 0.0192). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (0.0251) Ending of entry zone (0.0192)
Entry signal: Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing", "Hammer" or "Valley" in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about "Entry signal" and the special version of our "Price Action" strategy FOLLOW our lessons: Take Profits: TP1= @ 0.03395 TP2= @ 0.04317 TP3= @ 0.05055 TP4= @ 0.05798 TP5= @ 0.06845 TP6= @ 0.08190 TP7= Free
I think a good technical analysis should be easy to understand for a trader, I never saw such a great analysis for RVNUSD. Many of them have a lot of lines and very difficult to follow what is going on in the analyst's head but not this one. Thanks.
ForecastCity
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@fxniki, Thanks for your nice comment. It's our pleasure you liked it.