Monero recently broke out of a long failing wedge. As you can see, the breakout of the failing wedge is being retested at the 30 day moving average. If the 30 day moving average holds as support here, and we see a significant bounce from this area, then I would assume the retest was successful and Monero could be on it's way for another bull run.
As with all alts, this is largely contingent on BTC's own price action. If BTC goes down, then expect this retest to fail or for XMR to ride the top of the failing wedge down past the 30 day moving average until BTC starts to recover.
As with all alts, this is largely contingent on BTC's own price action. If BTC goes down, then expect this retest to fail or for XMR to ride the top of the failing wedge down past the 30 day moving average until BTC starts to recover.
Trade closed manually:
Retest was successful but price action suggested weakness. Exited trade early with little profit.
My goal is to find the best risk:reward setups. For instance, if you risk $1,000 at a chance to make $5,000, you can afford to be wrong 4 out of 5 times and still not lose money. I hit my targets over 50% of the time.