Even more attractive XMR Set Up R:R 5:1

XMR is approaching the bottom of the rising trend line. If it holds we'll see a bounce up to 138-139. If it breaks, we'll know pretty quickly and can exit on our tight stop below the trend line and the fib.

Zlecenie aktywne

Trade is live stop loss set.

Uwaga

Well, we hit out first target of 125.9 at the fib and took partial profit. 127 turned out to be significant resistance and we are now in a short term downtrend. We're still well above our stop and 120 seems to be offering decent support.

Uwaga

Uwaga

Just broke above the uptrend line! Adjusting stop an enjoying the breakout :)

Uwaga

Target reached 141.78!!! Took over 10% profit - letting a little bit ride up to 149.

Congrats if you you joined me on this one!

Transakcja zamknięta: osiągnięto wyznaczony cel

Well, we've broken through 150 which triggered my final target of 149. Of course the coin could still go higher, but the R:R is no longer as attractive as some other plays.

This is an important point to remember: As you approach your targets the R:R will drop from 5:1 down to 1:1 or <1:1. If you wouldn't enter a trade at 1:1, don't feel bad about exiting just before your target, or drawing down, or missing out if the coin tops your target.

In short:
If you missed out on the 2% that the coin went over your target to protect the 10-15% you already made, you made the right call.*

*I say this to remind myself and reinforce the concept as much as anything else.

With all sold, I made a solid 18% profit on this trade. I hope you did well as well.

Tmoran

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Tmoran

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