Trade Recommendation: Monaco

The trading idea is based on a bullish divergence which gives us a trend reversal signal. If the market moves above SMA100 and the previous swing high, it will be a signal confirming further upward movement. Pending orders for buy can be placed above this high and it’s 0.013500 level. Stop orders must be placed at 0.009800 level. Profit targets are 0.020000 and 0.030000 resistance levels. The markets are not stable now and using stop-loss orders can be a good variant for protection your deposits. If you don’t use leverage, trading volume for this trade is up to 10% from your deposit.

Market: MCOETH
Buy: 0.013500
Stop: 0.009800
Profit Targets: 0.020000 and 0.030000

The trading signal is based on Bittrex chart.
Disclaimer: The analyst does not have investments in Monaco.

Dmitriy Lavrov is a professional trader, technical analyst and money manager with 10 years trading experience. The main covered markets are Forex, Commodity, Cryptocurrency. Provides personal education for those who are interested in profitable trading. Entries in TOP 10 among TradingView authors.