Salient indication and evidence for a massive rally: XMR/Monero

Salient indication and evidence for a massive rally: XMR/Monero

BINANCE:XMRBTC
Finding chart patterns in the QRsi candles and combining those signals with Heffae Clouds trading rules results in a highly successful trading strategy. See my prior published ideas for examples of these patterns in use.

You can see prior HnS / IHnS formations on XMR/BTC playing out on the QRsi candles, with one epic failure to rally after the clear reversal signal.

In that failure instance, the price was below daily cloud resistance which made the rejection very harsh taking out that volume node. This breakdown becomes the target for current position.

Unlike the prior IHnS patterns, the current reversal pattern is much larger in scale. Stretching to over 160+ days from shoulder to shoulder, the chart seems to represent the possibility for a larger and longer impulsive move to the upside for this asset.

The current daily candle is at horizontal and trend QRsi resistance, but it is also making an attempt to close above the Daily Cloud, which would be the 2nd cloud rule confirmation of an imminent long-trending reversal.

Consolidation following such reversal signals can take some time, with impulsive moves to the downside expected while big players push index around in order to grab liquidity and fill bags for the coming move.
XMR/USD is a safe bet, but in my case I am blending 3parts BTC pair to 1 part USD pair in order to have a position proportional to R/R estimates, and the USD pair shows less likelihood of a straight-shot move up where I can spend the least amount of time in a position to target.

I will try and keep this updated, feel free to post or message me with any questions.

Published at Sun, 10 Nov 2019 14:08:44 +0000

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