Sure feels gloomy surrounding XMR with the BTC highly anticipated moonshot. But isn't this what a bottom feels like? Will stick to plan here and manage risk:reward/stop loss accordingly. Can't say I am overexcited getting into this position but these counter-intuitive trades are usually the biggest winners. If you are feeling this, plenty of other traders are too.
Comments
Manos007
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Excellent analysis. I agree 100%. Lets hope it keeps going.
DebateMaths
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:)
sumostud
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@DebateMaths, Unless I am mistaken, with your graph the price should be at 0.0116 approx though it is really at 0.0086. This is pretty way off. Not having a go but how can you say I agree 100% when it is way off? This is really me just being a noob and needing things explained :)
bhsl
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@sumostud, Overall structure, trend and targets are things to consider here. It doesn't necessarily mean price should follow scribble precisely.
DebateMaths
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:)
DebateMaths
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@sumostud, @bhsl is correct. I Could've easily just drawn a diagonal line up instead of putting the zigzag which are basically a guess. To get the zigzag correct, you not also need price, but the time right as well which is possible but requires lots of luck in a market like this. The idea is the most important.
sumostud
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@DebateMaths, all makes sense to me :) thanks for the explanation
DebateMaths
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@sumostud, Ironically, the price of the most recent top was pretty close, and the recent bottom seems correct.