This article was posted on Sunday, 17:07, UTC.
The price is going to bounce from 200.00 support level. Based on a new local swing low, we can draw a new uptrend line. This line will support a possible upward movement. RSI confirms price reversal in the oversold zone. We have a buy opportunity. Pending orders for buy must be placed at 220.00 level with stop orders below 198.00 level. Profit target is at the resistance level and the part of trading volume can be left for long run. If you don’t use leverage, recommended trading volume for this trade is up to 5% from your deposit.
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Profit Targets: 258.00
The trading signal is based on Poloniex chart.
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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.