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Jun 8

usually when price breaks above a trendline, a successful retest is a pull back to the trendline and a violent buying pressure. we will assume that my trendline is correct. if xlm is really in a bull market, then upon breaking out of the triangle and a pullback to the trendline it had to print multiple green candles and hold support above the trendline. what we see here is price keeps coming back to retest the trendline. the more this happens the less credible the support and retest will be. if price keeps coming back to the trendline without any buying pressure then it means price wants to go back into the descending triangle, which is the recipe for disaster if it does happen. all one can hope and pray for is for the price to hold above the trendline and print a big thick green candle, otherwise darker days are ahead.

Jun 25

Trade closed manually

back to 7 cents