On the small time period 1 hour chart , the price action of Monero (XMR) is completing final leg of Gartley and soon it will be entered in potential reversal zone.
Buying And Sell Targets:
The buying and sell targets as per Fibonacci sequence of Gartley formation should be as below:
Potential reversal or buying zone: $154.74 to $154
Fibonacci projection or sell zone: $155.32 to $156.73
Stop Loss:
The potential reversal zone area that is up to $154 can be used as stop loss in case of complete candlestick closes below this level.
Possible profit and loss ratio:
As per above targets this trade has a profit possibility of 1.70% and as per the above-mentioned stop loss, the loss possibility is 0.48%.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.
Buying And Sell Targets:
The buying and sell targets as per Fibonacci sequence of Gartley formation should be as below:
Potential reversal or buying zone: $154.74 to $154
Fibonacci projection or sell zone: $155.32 to $156.73
Stop Loss:
The potential reversal zone area that is up to $154 can be used as stop loss in case of complete candlestick closes below this level.
Possible profit and loss ratio:
As per above targets this trade has a profit possibility of 1.70% and as per the above-mentioned stop loss, the loss possibility is 0.48%.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.
Trade closed: target reached
