In my previous post of Monero with Bitcoin pair we have seen that on 3 hour based chart the XMR with Bitcoin pair was forming bullish BAT then finally as per prediction the priceline entered in buying zone and and hit the sell targets.
Before execution:
Click here to visit this old article on tradingview
After execution
Formation of new Shark pattern:
Now again on short term hourly chart the price action of Monero is forming bullish harmonic Shark pattern like some other top 10 alts and soon it will be entered in potential reversal zone.
Click here to visit tradingview for complete chart
Buying And Sell Targets:
The buying and sell targets according to harmonic Shark pattern should be:
Buy between: $52.91 to $52.45
Sell between: $53.37 to $54.36
Stop Loss:
The potential reversal zone area which is up to $52.45 can be used as stop loss in case of complete candle sticks closes below this level.
Possible profit and loss ratio:
As per above targets this shor term trade has the profit possibility of 3.64% and as per above mentioned stop loss, the loss possibility is 0.88%.
Note: This idea is education purpose only and not intended to be investment advice, please seek a duly licensed professional and do you own research before any investment.
