This is an update of the Chart and commentary on Verge I posted yesterday. For more detail of the projections I made yesterday to bring this chart into focus, please refer to yesterdays chart linked below.
Verge XVG Trade Setup
Verge is approaching the buy zone I outlined. Selling volume is letting up a bit. The RSI is approaching the oversold region. Stoch RSI indicates in the oversold region. Remember that these indicators can ride in the oversold region for some time so be patient. It is likely it will take 3 or 4 four hour candles to get into the buy zone where you could start to buy in with increments. I would aim to be all on my planned investment for Verge XVG for this swing trade by the time we reach the ideal buy point.
The ideal buy point in this chart is $0.0487 this is the intersection of a trend line and support lines.
We may or may not reach it, if volume turns positive and the trend starts upward it may be our signal that the downward move has ended for now.
Yesterday's Verge Chart Projecting This Move
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Wishing you success,
Isaac
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