$XMR 1 Level H is strongly consolidating above EMA20 (338.1), with prices rejecting deep pullbacks. The 4H chart shows the end of a triangular convergence, and the latest 4H candlestick closed above 340, indicating that bulls are trying to take control. OI is stable, and prices have risen slightly, suggesting that capital is quietly accumulating rather than a short squeeze. 1H RSI (57.15) is healthy, and there's room for upward movement.
🎯 Direction: Long
🎯 Entry/Limit Order: 341.5 - 342.0 (Reason: Strong area near the current price, stabilizing above 1H EMA20 and the upper edge of the 4H candlestick body)
🛑 Stop Loss: 336.5 (Reason: Break below 1H EMA20 support and the low of the previous 1H candlestick)
🚀 Target 1: 348.0 (Reason: Resistance at the previous high on the 4H level and near EMA50)
🚀 Target 2: 355.0 (Reason: 1.618 Fibonacci extension level, corresponding to a key rebound point from prior declines)
🛡️ Trade Management:
- Position Suggestion: Light Position (Reason: The overall trend on the 4H level is still oscillating; this is a game of breakout at the end of the convergence)
- Execution Strategy: After reaching Target 1, reduce the position by 50% and move the stop loss to the entry price. The remaining position aims for Target 2; if the price retraces and breaks below the entry average price, exit completely.
Deep Logic: Market depth shows that sell orders are heavily accumulated above 342.1 (25.486 XMR), which is a key resistance. Once a breakout occurs, it will trigger short stop-loss orders and accelerate the upward movement. The 1H EMA20 and EMA50 are about to form a golden cross, providing short-term support. Market logic suggests price increases, combined with stable OI, leaning towards main force protecting the market or building positions. The current strategy is to ambush before the breakout night, with a risk-reward ratio > 1.5, worth targeting.
Trade here 👇$XMR
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