Monero (XMRUSD) Head and Shoulders
Monero (XMRUSD) is forming a clear Head and Shoulders pattern on 4h time frame. trading opportunity will arise either when it retraces from the 367 levels to 345 levels (which it is currently doing) and then, you can go either long - if it bounces off the 345 level, or go short if it breaches that support
Considering the formation of the Head and Shoulders pattern, and the rejection is is getting in the latest 4h candle, it is likely that a short trade below the 345 levels will result in profits. It can fall up to the next obvious support of 300 levels, giving a potential profit of about 13-15%
Considering the formation of the Head and Shoulders pattern, and the rejection is is getting in the latest 4h candle, it is likely that a short trade below the 345 levels will result in profits. It can fall up to the next obvious support of 300 levels, giving a potential profit of about 13-15%
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