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Delta Exchange Blog
Trade Setup 3 NOV -1 23
Research

Trade Setup 3 NOV -1 23

Delta Exchange
Delta Exchange
November 3, 2023

Bullish View on XMRUSDT Welcome to Daily Trade Setups. Trade:

  • Buy XMR Perpetual future at $172

Stop Loss: $164 Target: $184 Payoff: Max Profit: $12/XMR Max Loss : $8/XMR

Rationale: The recent price movement in XMR has convincingly breached the resistance level at 216, and gave a swing high of 175. Now the price is attempting to retrace towards its foundational or demand zone regions. An encouraging sign is that XMRUSDT has maintained its support levels while retracing, further bolstering our confidence in its performance. Examining the daily chart, it’s evident that the price is consistently adhering to established support / demand zones. This steadfast adherence underscores the robust buyer sentiment in the market.

Disclaimer: This report must not be used as a singular basis of any trading decision. Please refer to https://www.delta.exchange/research-disclaimer for analyst disclaimer and other disclosures.

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