BITFINEX:XMRUSD   Monero / U.S. Dollar
Watch this EW - theory. We´ve had a ABCDE - correction wave from ATH to 150$, followed by 5 part impulse wave.
And actually we´re in a ABC-correction wave form, precisely in the c-wave which could lead us to the last low at 150$.
Please give comments, when I´ve made mistakes in my EW-wave analysis. Thx .

Monero is also in a triangle pattern and has just broken the lower limit of this triangle. A fall to the fib retracement at 23.6% (177$, red line) = support is very possible. This would confirm the c-wave .

After reaching the lowest point and turning upwards, Monero has the potential to rise up to the descending trend line (red), now at around 340$. There are several resistance lines between and we´ll see if EW-theory can help us on the way up.

Indicators:
RSI: low - but not oversold
ADX: momentum of negative DI is rising
Volume: low
EMA 50: Monero far below

conclusion: we could see a small recover on the fib retracement at 177$ (23.6%) before continueing to lower levels

This analysis fails if Monero climbs above the swing trend line (orange) 208$.
Mar 29
Trade active
Apr 02
Trade closed: target reached:
We´ve finished the corective wave and have just entered in the first motive wave.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out