XMRUSDT 4H ascending wedge short setup
TA explained
Currently a lot of bearish patterns and situations appear in the market. Looking at the Futures trading pairs XMRUSDT is one of the pairs that shows the biggest bearishness. After the impulse to the downside an ascending wedge is being formed as can be seen om the 4H chart. A breakdown of this wedge will lead to further downside movement.
Price is currently trading along the bottom trendline. Another move to the upper trandline could be very well possible therefore the suggested entries are plced at both sides. SL is above the 0.618 fib level of the downside move and above the wedge lines. So if the pattern gets invalidated the position will get closed.
Trade setup
Best entries: 66.80 - 65.65
TP1: 63.95
TP2: 62.01
TP3: 60.82
SL: 68.10
RR:
Max leverage: 8x
—————
Do Your Own Research (of course)
Trade at own risk (of course)
Only trade what you can afford to lose (of course)
Currently a lot of bearish patterns and situations appear in the market. Looking at the Futures trading pairs XMRUSDT is one of the pairs that shows the biggest bearishness. After the impulse to the downside an ascending wedge is being formed as can be seen om the 4H chart. A breakdown of this wedge will lead to further downside movement.
Price is currently trading along the bottom trendline. Another move to the upper trandline could be very well possible therefore the suggested entries are plced at both sides. SL is above the 0.618 fib level of the downside move and above the wedge lines. So if the pattern gets invalidated the position will get closed.
Trade setup
Best entries: 66.80 - 65.65
TP1: 63.95
TP2: 62.01
TP3: 60.82
SL: 68.10
RR:
Max leverage: 8x
—————
Do Your Own Research (of course)
Trade at own risk (of course)
Only trade what you can afford to lose (of course)
Haftungsausschluss
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