XMRBTC Triangle breakout Could lead to Emerging Bat Pattern

This is a similar set up to the XMRUSD chart I just posted, but the pattern has yet to properly define itself. In this instance, we would be looking for a break above/close above of the triangle consolidation pattern for a conservative long entry.

TP on that long and also a perfect Short entry, will be at the D completion point of a confirmed bat pattern.

Target 1 for Bearish Bat Pattern = .382 of the CD move @ .01840btc
Target 2 for Bearish Bat Pattern = .682 of the CD move @ .01489btc

코멘트:

Bat pattern Target level was hit perfectly, although quite a bit earlier than I had anticipated thanks to the fomo bull action. Targets remain as posted above.

액티브 트레이드:

Target 1 was hit at .382 of the CD leg. At this point we could consider moving stops to break even or utilizing a trailing stop for a risk free trade down to .618 which sits at .01489. Hmmm, I just realized I posted target 2 (above) as .682 instead of .618. Sorry, :p just ignore that. You know what I meant.

액티브 트레이드:

After a brief bounce, price action pushed below our target 1 to then pull back and retest for resistance. The daily chart has printed a pair of spinning top doji's (at the time of writing) which would typically indicate indecision and potentially a reversal in trend direction. I would however, warn against keeping any trailing stops too tight at this point. This trade is playing out as anticipated and logical stoploss/TP level for a confirmed reversal off this level would be .02056xx. We could see a bounce from here but I'll still be watching for price to carry us through to our target #2 at .618 of the CD move @ .01489xx

거래청산: 타겟 닿음:

Forgot to update this chart. This long to short trade couldn't have been any more perfect. Hope You made some money!