I love this chart of Monero right now against Bitcoin, XMRBTC
Bitcoin/Dollar is incredibly strong, but Monero is showing strength against Bitcoin, when most coins are weak against BTC right now.
Currently it has bounced off support and is trending upwards in a nice channel.
If you check out XMRs daily chart, then you see that it recently broke out over all time highs set back in July. It came back to that level around .25 and bounced (as well as off of 200 moving average), Monero is poised to go nuts, especially once Bitcoin reaches some resistance. I expect this to really explode.
Entering a position here and keeping an eye on this hurricane!
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MY TRADING METHOD: I keep my analysis simple. Good analysis always is. I use Price Patterns, Moving Averages, and RSI for my analysis. I use the 1 day for trend analysis and 60 minute for trade entry For my Targets I use Fibonacci projections + measured moves Successful trading means proper risk sizing and trading small so you can stay in the game.
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The trending channel is broken, but I wouldn't stop out until the support level is breached under .0285, but if you're playing it safe, then might be better to get out and wait for a better entry.
@Schuyten, If we see some weakness as BTC hits support, then money could flow into Bithumb and that event could serve as some fuel for the fire! definitely keeping my eye on an XMR breakout