$XMR Idea (4H Chart)
▶️ Entry Zone: 140.69 - 147.81
🛑 Stop Loss: 135.11 (24h Low)
🎯 Take Profit 1: 153.51 (EMA(25))
🎯 Take Profit 2: 158.35 (EMA(99))
Analysis:
* Price is below all EMAs (7, 25, 99), indicating a strong bearish trend.
* Recent price action shows a sharp decline followed by a potential bounce from the 24h low.
* RSI(14) at 27.87 is oversold, suggesting a possible rebound.
* MACD is negative and below the signal line, but the histogram shows potential for bullish convergence.
* 24h price change of -5.88% indicates significant selling pressure.
The current setup suggests an oversold condition after a sharp decline. While the overall trend remains bearish, there's potential for a short-term bounce or relief rally from these oversold levels.
Caution:
* The broader trend is bearish, so this is a counter-trend trade.
* Use tight stop-loss orders to manage risk in this volatile market.
* Consider smaller position sizes due to the high-risk nature of this trade.
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