XLM ready for next leg up
Not trading advise, just playing and learning.
Similar to the previous two runs, XLM is forming a triangle that has a resistance level in the previous high ($0.35). The triangle is running out of space, so I will be watching for a powerful candle upwards that should resume another bullish leg towards breaking the previous high ($0.6). If this happens I will buy. It is also possible that XLM goes down first to retest the support level at $0.35-0.36 before returning back up.
This does not mean that XLM will immediately go parabolic towards $0.6, it only means that the bullish trend will resume and we should start seeing higher values, likely higher lows and higher highs in the daily candles.
BTC is having a great influence on XLM, so depending on how I see the market I will decide where to exit, initially my goal will be $0.6.
Good luck!
Similar to the previous two runs, XLM is forming a triangle that has a resistance level in the previous high ($0.35). The triangle is running out of space, so I will be watching for a powerful candle upwards that should resume another bullish leg towards breaking the previous high ($0.6). If this happens I will buy. It is also possible that XLM goes down first to retest the support level at $0.35-0.36 before returning back up.
This does not mean that XLM will immediately go parabolic towards $0.6, it only means that the bullish trend will resume and we should start seeing higher values, likely higher lows and higher highs in the daily candles.
BTC is having a great influence on XLM, so depending on how I see the market I will decide where to exit, initially my goal will be $0.6.
Good luck!
Trade active
The triangle is broken, I would suggest to wait for a MACD crossover buy signal to confirm an uptrend and buy.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.