ForecastCity
Long

XMRBTC ,Excellent Buy Opportunity in MONERO ,Hunt it!!

POLONIEX:XMRBTC   Monero / Bitcoin
Trading Analysis:
MONERO is in Range bound but Resumption of uptrend is expected.
In DAILY chart , A hammer pattern is formed which is the first sign of the beginning Ascending wave.
The price touched the strong uptrend line in Daily Chart . It is below the 21-Day WEMA which acts as a dynamic resistance.
The RSI is at 48 and above a RSI support level .

Trading suggestion:
Price is in the support zone (0.0272 to 0.0242), traders can set orders based on Price Action and expect to reach short-term targets.

.Beginning of entry zone (0.0272)
.Ending of entry zone (0.0242)

Entry signal:
Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Hammer" or "Trough", in other words,
NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone.
To learn more about "Entry signal" and special version of our "Price Action" strategy FOLLOW our lessons:

(We have started to prepare these lessons in TradingView. If you want us to continue, give us feedbacks!)

Take profits:
TP1= 0.0294 (First Target)
TP2= 0.0320 (second Target)
TP3= 0.0356 (Third Target)
TP4= Free (Fourth Target)
Kommentar: TP1 HIT!!

Trading suggestion:
We have already opened Buy trades, based on Price Action, trade setup is drawn on the chart and shows entry and targets, the description can also be found below the image.

Midterm forecast:
.There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 0.0272 would begin in Midterm.
.Price may also reach 0.0272, if price reaches this level, we may enter by Daily-Trading-Opportunities (Price Action).
.We will close our open trades, if the level of 0.02658 is broken.

Technical analysis:
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 58.

Close profits:
TP1= 0.0294 (First Target)

Take profits:
TP2= 0.0320 (second Target)
TP3= 0.0356 (Third Target)
TP4= Free
Trade geschlossen: Ziel wurde erreicht: Break-even

Trade Setup:
We opened 4 Buy trade(s)

Closed Profit:
TP1 @ 0.0294 touched at 02.07.2018

3 other break-even trades closed at entry price, therefore no profit no loss.

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