XMR is approaching the bottom of the rising trend line. If it holds we'll see a bounce up to 138-139. If it breaks, we'll know pretty quickly and can exit on our tight stop below the trend line and the fib.
Trade active:
Trade is live stop loss set.
Comment:
Well, we hit out first target of 125.9 at the fib and took partial profit. 127 turned out to be significant resistance and we are now in a short term downtrend. We're still well above our stop and 120 seems to be offering decent support.
Comment:
Comment:
Just broke above the uptrend line! Adjusting stop an enjoying the breakout :)
Comment:
Target reached 141.78!!! Took over 10% profit - letting a little bit ride up to 149.
Congrats if you you joined me on this one!
Congrats if you you joined me on this one!
Trade closed: target reached:
Well, we've broken through 150 which triggered my final target of 149. Of course the coin could still go higher, but the R:R is no longer as attractive as some other plays.
This is an important point to remember: As you approach your targets the R:R will drop from 5:1 down to 1:1 or <1:1. If you wouldn't enter a trade at 1:1, don't feel bad about exiting just before your target, or drawing down, or missing out if the coin tops your target.
In short:
If you missed out on the 2% that the coin went over your target to protect the 10-15% you already made, you made the right call.*
*I say this to remind myself and reinforce the concept as much as anything else.
With all sold, I made a solid 18% profit on this trade. I hope you did well as well.
This is an important point to remember: As you approach your targets the R:R will drop from 5:1 down to 1:1 or <1:1. If you wouldn't enter a trade at 1:1, don't feel bad about exiting just before your target, or drawing down, or missing out if the coin tops your target.
In short:
If you missed out on the 2% that the coin went over your target to protect the 10-15% you already made, you made the right call.*
*I say this to remind myself and reinforce the concept as much as anything else.
With all sold, I made a solid 18% profit on this trade. I hope you did well as well.