XMR start 5 elliot wavePOLONIEX:XMRUSDT appears to be initiating a wave 5 of elliot seeking the top of the weekly channel, the yellow zone is formed by a cluster of fibonacci between the lines 1,618 of the weekly expansion and 1.0 of the expansion in H4, the formation of a high pivot is interesting for confirmation
XMRUSDT
Monero (XMR/USD). Possible Complex Correction.Monero could be in a large corrective structure within wave 4 unfolding as a double zigzag WXY.
The price should break below the yellow uptrend support.
It could either reach only end of wave W at the 150 mark (blue zigzag) or dip much lower into the area of 120 (purple zigzag).
And then we could see continuation to the upside to reach out to the 208.20 mark at minimum to hit the previous top.
It is early yet to calc the ultimate target as correction is still underway.
Monero Buy OpportunityThe price broke the downtrend line and moved upward. It gives us a trend reversal signal and a new trading opportunity. MACD supports upward movement. DMI is going to confirm strong price movement. Pending orders for buy should be placed at 182.50 level with stop orders at 165.50 level. The main profit target is 208.00 level.
XMRUSD $210 After Correction? Elliot Wave AnalysisExplanation on the Fibonacci levels on the graph:
-Wave 2 retraced 38.2% of wave 1, meaning it is likely the fourth wave will retrace at least 38.2% of wave 3. I suspect it will be 50%, but if it does go to 61.8%, then lots of profit will be made.
-Wave 3 hit a perfect 1:1 Fibonacci extension of wave 1 to 2. This ideal extension is what gives me the price target of a 1.618 extension of wave 1 to 2 which provides a price target of $210.
Please do leave any feedback/questions in the comments below. I have been unable to reply to comments on my ideas because of recent moderator action so if I can't reply because of this feel free to PM me.
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Monero to $200We have confirmed the uptrend and now the chart is making a clearer picture. Target 1 - $160 / Target 2- $200
Note the recent Volume increase and the Stoch RSI position.
Best of luck!
$XMR 5th WaveSimilar to LSK we have XMR heading into its final wave of its Elliott sequence. Target will be around $250
Monero buyIn my opinion, we are about to fly to the moon and there are several confirmations.
Oscillator MACD and RSI are at the bottom and ready to go up. The RSI did the cross. And ADX confirms that bears are becoming weaker.
I noticed a bullish divergence. Also, the price on the chart recently rebounded from the Fibonacci level 0, and most likely will move in the coming days to a level of 0.236.
If we add here the wave analysis, we will see that we are on the correction of the ABC after the fall.
If everything goes according to my analysis, we will probably reach the level of 0.382 Fibonacci, the price of the monero at which will be 0.02 BTC.
In the 0-0.23 Fibonacci area, you can also notice an upside-down "head and shoulders" figure, the of which is yet to be formed.
Purchase 0.012
Stoploss 0.01
takeprofit 0.0166-0.02
XMRUSD 1d: End of Consolidation in Nov? 70 > 100 > 145 > 200 USDWe've already seen Fibo 0.23. The question is whether the consolidation at Fibo 0.38 has been completed. According to the trend lines, Fibo 0.23 could be tested again before it goes up. New trend channels and a new basic trend line (black) can be seen in principle. If we fall under Fibo 0.23 (70 USD), the whole situation must be re-evaluated. Therefore currently I would wait and see what the trend really is. Posts from the development will follow as usual.
Let's see what happens. Happy trading. :-)
See also:
Chart Aug 21
Monero Buy SignalThe market moves in a horizontal channel between 85.00 and 100.00 levels. Now the price is at the bottom and we have a buy opportunity. RSI confirms price reversal and MACD histogram supports upward movement. DMI allows opening long trades. Pending orders for buy should be placed above the local high at 89.50 level. Stop orders must be placed at 84.30 level. The main profit target is 100.00 level. The part of trade volume can be left for long run.
Monero Bullish DivergenceThe trading signal is based on a bullish divergence. The market bounces from 85.00 level and it's going to move upward to 100.00 strong resistance level. RSI confirms price reversal from the support level. MACD supports further upward movement. Pending orders for buy should be placed at 89.00 level. Stop orders at 83.00 level. The main profit target is 100.00 resistance level. If the price breaks it, the next profit target will be at 125.00 resistance level.
XMRUSDT Bittrex. Down trend, signal for shortHave down trend - line of resistance, but the price will break it, the trend can unfold, where you can open the shorts of the position.
Monero Short Term TradeThe price bounced from the uptrend line and moved upward. If the market can break 92.50 resistance level and pass through the cloud, it will be a confirmation of further upward movement. We can buy based on a breakout signal. Pending orders should be at 94.05 with stop orders at 86.80 level. Profit target is 102.00 level. This is a short term trade, but a part of volume can be left for reaching higher targets.