The April idea, linked below in case you missed it, turned into just about as perfect a trade as I could have imagined. Congrats if you followed it! Now, it is time to update that idea and our plan is to turn that 400% into 1200% for the year.
Monero has been inside a massive falling wedge and just couldn't find the support to break out of it. That moment finally arrived when it hit its major trendline for the first time. The chart is pretty self explanatory and simple.
If you follow me you know I prefer to hit the major swings and try to stay in most of my trades for months at a time. I find it is more profitable and less stressful to trade that way. The trade off, of course, is that I will not be constantly updating charts. However, I'm always here to answer questions if needed.
Have fun with this one and buy me something for Christmas if it goes according to plan.
Monero has been inside a massive falling wedge and just couldn't find the support to break out of it. That moment finally arrived when it hit its major trendline for the first time. The chart is pretty self explanatory and simple.
If you follow me you know I prefer to hit the major swings and try to stay in most of my trades for months at a time. I find it is more profitable and less stressful to trade that way. The trade off, of course, is that I will not be constantly updating charts. However, I'm always here to answer questions if needed.
Have fun with this one and buy me something for Christmas if it goes according to plan.
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Here is the link to the April 4th trade. I typically don't brag but I think this one deserves it :)
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I meant to include this with the original post. When we zoom way out we get a very clear picture for why we should see Monero reverse course. Take a look at this massive falling wedge that Monero has been trapped in for the past 8 months! As the chart shows, that falling wedge dropped us straight into our historical trendline which is the strongest support Monero has.
We can't call it a reversal just yet...it needs to break out of the wedge before we can do that. However, in my opinion, this is one of the best looking trade entries I have ever seen. Good luck and if you find my charts useful please give a like. Since I try to trade the major swings, I don't publish many charts but that also means I don't get many followers. Best of luck.
We can't call it a reversal just yet...it needs to break out of the wedge before we can do that. However, in my opinion, this is one of the best looking trade entries I have ever seen. Good luck and if you find my charts useful please give a like. Since I try to trade the major swings, I don't publish many charts but that also means I don't get many followers. Best of luck.
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Oops...that was the wrong picture. Here is the picture of Monero's falling wedge of doom into historical support.
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I've been away from my computer but am just now getting back. I know people see doom ahead but I wouldn't jump to any conclusions. We lost the two lines that were acting as support but we still have support below us. Let's see how this plays out and I'll update if things look really dire.
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This area is full of major resistance. I have closed my position and locked in profits. It might be a good idea for you to consider the same and to put your buy orders just above resistance. If they are filled you only miss out on a few dollars. Best of luck.
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Hope y'all are enjoying this trade! Please give a like if you have profited.
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Moving just as I had anticipated. Hard to tell on the main chart but I have the down arrow pointing towards right around $103. I think that area will hold and we will continue with bull run.
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Does anyone actually use this chart?