#XMR - Buying a ticket to ride #BTC #Monero

BITFINEX:XMRBTC   Monero / Bitcoin

I caught the short opportunity on the way down just a few weeks back. Decent gains. Still, I have been more interested in the sure-to-follow leg up. Looks like the time is near. I will enter a long position X.MR / B. TC . Entry will be in or around the bottom of the Kumo cloud

Setting stop losses very tight - see chart. If triggered, I will reenter below after it settles down.

A few notes on the setup:

1. Completed Ichimoku edge-to-edge. See my previous post. This was the short opportunity.

2. C-Clamp is extreme. Strong sign of reversal. The Kijun and Tenkan have drifted quite far apart. No doubt this is a sign of reversal. Signs are not guarantees, but I like this one.

3. Weak bullish divergence . Can also identify a bearish divergence. Disregarding both (not shown, but found on shorter tf - 12 hour)

4. RSI is not bullish , but should act as confirmation of an uptrend once the midpoint is crossed. See X.MR histroically. Look at X.MR historic performance at the moment this point is breached.

DYOR. Not financial advice. Good luck.
Trade active: Bullish divergence is developed on the Stock and RVGI.
Price = Lower lows; Stoch & RVGI = Higher lows.

Noting a bearish t-k cross on the 12-hour time frame. Keeping a close eye on development. I'm okay with a bearish cross when part of the rationale for the trade is an extreme c-clamp on higher time frames.

Entering long position.

Trade active: Partial close of position in profit at first target. Holding on to the rest, as it seems resistance will be broken.
Trade closed: target reached: BOOM! There's more upside to XMR, but I'm out for now.
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