Monero is in a beautiful ascending channel here. We can see the price oscillating very heavily at the moment. Such volatility is fantastic for traders who want to get several or more scalps in.
You can trade a long position every time the price gets near the bottom support line, which will give you a great risk reward given the overall bullish trend of this channel.
On each trade you can aim to get around 1-1.5% profit, and repeat as often as you can until the pattern gets invalidated.
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-------------------------------------------------------------- Disclaimer! This post does not provide financial advice. It is for educational purposes only!
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So far the price is nicely staying within this channel. It did break slightly below but overall all looks good. Keep scalping my friends!
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This is what the price looks like now. Every move between support and resistance of this channel is a potential trade.
I’m curious to hear your thoughts! Let’s make use of the fantastic tradingview community and give each other feedback.
How would you have charted this? Feel free to post a link to your own idea here as well
I will be posting more of these regularly, so follow me to find out about great trading opportunities