Hi friends hope you are well, here I have found another profit potential trading idea for you and this time Monero (XMR) has formed bullish BAT pattern and entered in potential reversal zone and ready for bullish reversal soon.
Let’s examine how perfect this pattern is:
After initial leg (X to A) the A to B leg is retraced between 0.382 to 0.50 Fibonacci and then B to C leg is projected between 0.382 to 0.886 of A to B Fibonacci projection area and last leg (C to D) is retraced between 0.786 to 0.886 Fibonacci and now the price action is moving in potential reversal zone of this bullish BAT and now we can expect bullish divergence at any time which will lead the priceline between 0.382 to 0.786 Fibonacci projection of A to D leg , but if after this bullish divergence the candles sticks will be closed above the 0.786 Fibonacci projection area of A to D leg then it can also lead to the long term bullish move.
Buying And Sell Targets:
The buying and sell targets according to harmonic BAT pattern should be:
Buy between: $66.32 to $62.42
Sell between: $75.57 to $89.41
Stop Loss:
The potential reversal zone area which is up to $62.42 can be used as stop loss in case of complete candle stick closes below this level.
Let’s examine how perfect this pattern is:
Buying And Sell Targets:
The buying and sell targets according to harmonic BAT pattern should be:
Buy between: $66.32 to $62.42
Sell between: $75.57 to $89.41
Stop Loss:
The potential reversal zone area which is up to $62.42 can be used as stop loss in case of complete candle stick closes below this level.
