Trade Recommendation: Monaco

The market tried to pass through the cloud and confirm the trend reversal. Now we have a retracement to the uptrend line. The market formed a new swing high which can be used for placing pending orders for buy. If the price breaks this level, it will be a confirmation that the market is going to start a new uptrend. DMI confirms trend market conditions and the power of bulls. It’s a good buy opportunity. Entry level is 0.001400 with stop orders below the previous swing low at 0.000900 level. The profit target for short term trading is 0.002000 resistance level. The profit target for long term trading is 0.005600 resistance level. It’s also possible to leave the part of trade volume for long run. If you don’t use leverage, trading volume for this trade is up to 10% from your deposit.

Market: MCOBTC
Buy: 0.001400
Stop: 0.000900
Profit Targets: 0.002000 and 0.005600

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.