Consolidation steady with strong support. Await for break out.

in #monero6 years ago

rsz_screencapture-tradingview-chart-xmrusd-bd0q9il4-consolidation-steady-with-strong-support-await-for-break-out-2018-08-24-20_58_19.png

XMRUSD is consolidating on 4H within a 75.550 - 109.192 Rectangle ( Ultimate Oscillator = 49.694). So far the Resisting Lower High trend line (illustrated in blue) contains any upside attempts. We need to wait for a clear break out on this line to go long (TP = 115.494 and 120.927 (0.618 Fibonacci)), or a break of the Rectangle's support to go short (TP = 64.104). Scalping the Rectangle is the option on Monero for day traders.