$XMR 4The hourly chart has just formed a MACD death cross (above the zero line). Before the crossover, the bullish momentum histogram lasted for 19 four-hour candles.
It’s easy to be misled by the crossover alone, so I’ll check three things one by one:
① After the histogram turns negative, do the bars keep getting longer?
② Is volume confirming the move?
③ Has price broken below the previous support level?
The four-hour chart is more suited to short-term analysis, so it should be viewed alongside the daily trend. How would you sum up your view right now?
It’s easy to be misled by the crossover alone, so I’ll check three things one by one:
① After the histogram turns negative, do the bars keep getting longer?
② Is volume confirming the move?
③ Has price broken below the previous support level?
The four-hour chart is more suited to short-term analysis, so it should be viewed alongside the daily trend. How would you sum up your view right now?