Stellar (XLM) - 2/12/2018
Updated
2/12/18: Short Entry (0.388) Target (0.18) Stop loss @ 0.44 <Possible bear trap if overall market reverses> Risk/Reward Ratio (4:1)
Logic --> XLM is in a LT downtrend, consistently fallen and bounced off key support and fib levels after brief capitulation of about a week or so. Afterward, the volume increases to the downside until it reaches the next support or fib level.
Logic --> XLM is in a LT downtrend, consistently fallen and bounced off key support and fib levels after brief capitulation of about a week or so. Afterward, the volume increases to the downside until it reaches the next support or fib level.
Note
2/21/2018: stopped out of original position. misinterpreted the changing market dynamics at first. re-shorted around 0.45 and up ~15% in position. I've narrowed the take profit to 0.35 as well given the new market environment currently.Note
2/22/2018: target achieved. positioned closed at $0.35 for 22% profit.
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