XMRUSDT 4H long setup anticipating break of weekly resistance
Updated
TA Explained
First thing I'd like to show is the 3D chart of XMRUSDT (not the perpetual pair). Look what level price is testing currently. If this breaks the targets are really realistic.
On the 4H chart a clear double bottom was created after which the price moved up. It broke low TF resistance zone and is testing previous highs again. Another failed attempt might activate this trade setup.
Targets align with previous high, extended fib level and the first resistance level which can be found on the 3D chart all the way back to July last year. SL is below previous swing low on the 4H chart and support area.
Trade setup
Best entries: 90.00 - 92.50
TP1: 96.30
TP2: 99.50
TP3: 103.00
SL: 87.6
RR: 3.22
Max leverage: 4x
—————
Do Your Own Research (of course)
Trade at own risk (of course)
Only trade what you can afford to lose (of course)
First thing I'd like to show is the 3D chart of XMRUSDT (not the perpetual pair). Look what level price is testing currently. If this breaks the targets are really realistic.
On the 4H chart a clear double bottom was created after which the price moved up. It broke low TF resistance zone and is testing previous highs again. Another failed attempt might activate this trade setup.
Targets align with previous high, extended fib level and the first resistance level which can be found on the 3D chart all the way back to July last year. SL is below previous swing low on the 4H chart and support area.
Trade setup
Best entries: 90.00 - 92.50
TP1: 96.30
TP2: 99.50
TP3: 103.00
SL: 87.6
RR: 3.22
Max leverage: 4x
—————
Do Your Own Research (of course)
Trade at own risk (of course)
Only trade what you can afford to lose (of course)
Trade closed: target reached
All targets reached. Price retraced back into buy zone. Same targets could be used for another long position.
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