Technical Analysis Monero - XMR / BTC - 10/31/2016
Hello traders!
These past two weeks have been pure joy for those who worked in the monomer sold, go to the chart!
In the final analysis warned about the possibility of reversal, it did not happen and the downtrend prevailed coming to reach our target was the MM200 the daily chart, were nearly 40% drop, congratulations to those who took at least a part of it, is operation pro every month, the ideal at this point is left out, the price is skating on the MM200 and is likely a consolidation before continuation of the trend, or even a reversal that might not happen without an interesting correction of Bitcoin, as medium MM9 and MM21 MM200 are very close to the ideal is to stay out and wait for a new framework:
In the weekly can see the full force of the downward movement, commented on the possibility of reversal due to a very close to MM21 weekly doji, however, the maximum of the candle is not over, instead, we still had more fall in this moment MM9 meets with the MM21 that is still tilted upward, so we still have a chance to reverse, but it is minimal, we will wait for a better framework to operate, when it's time to practice the third option that is on the market : stay out!
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