LXYe is looking good #trading #shorts

30 Jun 2023 · 1 min

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0:45

In this YouTube short, the presenter from The Art Of Crypto provides a concise technical analysis of the cryptocurrency LXYe (Luxo). He notes that recent price action has been confined between a range high and low, and that the daily chart now shows strong displacement followed by a change of character. Using a Fibonacci retracement drawn on a fair value gap, he identifies the 0.5 level as a potential entry zone, with a stop placed at the end of the fair value gap. The primary target is the range high around $15.27, representing a 15R trade (approximately 67% upside from entry) and a risk‑to‑reward ratio of 1:15. The commentary emphasizes the trade’s upside potential while outlining precise entry, stop, and target levels.

Chapters

Look, so could potentially be a 100x coin immediately. Range high, range low. Most of Luxo price action has been between these two levels for basically in the near past. Currently on the daily chart, you have already gotten pretty strong displacement. Right now, you've just gotten the change of character. So immediately what you do is you bring a fib and look for you know some kind of retracement area where if we draw a fib on this fair value gap, we have the 0.5 that lines up with the 0.5. My idea of this would probably be an entry somewhere around there and probably stop just right at the end of the fair value gap. And as for the target of this trade, remember range high. Whenever you take out range low, you always target. Range high. So this is going to be target number 1, which is at about $15.27. This is about a 15R trade, which means for every $100 that you risk, you stand to make $1,500 back. And this is about 67% from the entry point.