xlm-usd patiently waiting

Updated

This is discussion post only. You are welcome to post your thought
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Stellar has proven to be the coin of LOVE
if you don't love stellar , you must be XRP 's fan and have ur money getting stuck now. Just kidding :)

Ok back to stellar, the coin has shown serious strong strength during this dumping time. However, stellar still hasn't escaped of its dangerous zone yet. We are still in a very big consolidation zone.
Right now im seeing a possible Head and Shoulder if stellar doesn't go up back again and pass 0.244$

what should we do now? do nothing and wait for stellar to decide where it will go

- a break above 0.244$ will signal bull strength, and we will test the downtrend line. This is the time to buy
- if we continue on going down, Head and Shoulder will form and we will dive deep and break the equilibrium zone. This is the time to wait for bottom . It should be around 0.14-0.15$.

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0.244$ not 0.234$ (previous top)

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if you ask me where I want stellar to go , I want it to go down so we all can drag cheap stellar . LOL

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with a big rejection shooting star candle on daily like that, next daily candle will show a clearer direction. Bear is in favor for this case

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Nice. We touch the neckline now

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another possible H & S on the right shoulder

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if anyone plays long position now, remember to always to use stop loss. We are still in big downtrend. Right now it is just a period of recover

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STR usually recover x2 amount of btc. However, this time it doesn't . It should ping us something, guys
we are going to see lot of people buying top on this recover and start crying again . Coins' movement still follow nicely its dumping behavior. Stay safe

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good job to people who don't fomo to jump into this trap

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I haven't updated XLM much . Why ? price is still in range and most coins are moving the same direction Up/Down (difference in force) during this time. So you can check my Eth post for more regularly update. There is no point to say the same thing in multiple posts :). My main trend right now is still bear.

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closely observing stellar for a buy signal. History shows that 55 EMA(black line) on 12hr is a good indicator for a buy signal. If we pass it and HOLD at least 4hr, it is a buy signal for aggressive buyers. I say for aggressive buyers because above the 55 EMA we still have one more resistance which is the previous high (blue line). For conservative buyers, it will be buy signal when we pass the blue line.

Stop loss will be below 55 EMA

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we are still in Range trading. Yeah, STR is one of the slowest coin at the movement now. It only shows that it is waiting to go up :).

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definitely worth at playing when it breaks out of the range. Still waiting

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this is why i always feel something strange with XLM. Why did other coins rally these past few weeks but not for XLM ? By just looking at XLM's chart cycles, it also hints that it is still too early for XLM to rally. Nevertheless, patience has paid off this time. Continue on waiting :)

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i think i find out an interesting pattern for XLM. Around end of september will be a good buy opportunity if RSI on daily approaches Oversold area.

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Buy target will be either 0.15$ or 0.11$ depending on market sentiment . Of course, i will love to buy xml at 0.11$ . LoL :)

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good bounce from coins. It doesn't mean much yet but it shows a break down of the consolidation is FAILED for stellar. It means that bull still has strong chance. The hardest part of investing is waiting time :))

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price has kept retesting the resistance line multiple times now with a possible Inverse head and shoulder setup to break out . Besides IHS, we also have ascending triangle. I am patiently waiting for the break out and a retest to support line before jumping in. Overall, thing starts looking good again

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the coin has taken off. Pump cycle starts without even dipping to Oversold area on daily first. We are at another strong resistance zone now. I think we will have 1 or 2 days cool off before flying again :)

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xlm is in pullback mode again. This is a chance to buy dip. XLM will go up much more. I don't think we are at top yet :)

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one of the strongest coins in the market right now. Stellar might go up sooner than Ripple

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broken up the triangle but got pushed down. EMA shows good support. If we can break up the upper triangle again, we will go to new high. Take attention to that break

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just because we are dropping doesn't mean we are in bear market.
Last week, xlm has risen 25%. Right now we are making a lower higher and if you check on the chart, we are actually in consolidation and traded within the range of Oct 18th candle.
A break below 0.2356 can trigger more drop to next demand level and it is a chance to buy DIP. It doesn't mean we will drop below 0.2356 :). We are in range trading now

stellar is in a strong bullish setup now. Don't let others fool you .

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we have a bounce at 0.618 fib level.
There are 2 possible scene now:
1- either the retracement is over and we are going to move up to complete wave 5 of big wave 1 to participate the BIG break up on November. How can we know this one will happen? if we can see HH, HL set up , it is the first sign for it
2. we will have another dip to the next support(blue line) which will hold . I don't see any reason for not holding it if we drop there. If it happens, that's golden opportunity to buy cheap dip.

Overall, stellar is in strong bullish setup to be prepared for breaking up on November. We are in big triangle setup just like bitcoin

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if we can break above this rectangular resistance zone, case 1 (above) will likely happen
if not, we will go for case 2

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so we follow case 2.
Almost hit the strong demand zone now, it should hold, if not we are in trouble

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xlm have retraced to support zone . This is a very strong one and the place where coin should start going up . In order to prove next bull rally, we need to break above the grey zone

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I hope no one is panic to sell during the bear-trap. My view is still bullish.

Trade closed manually

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XLM-USD this is a time to buy , not to short

JackieHuynh

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