XLM Action! (w/ support)
Updated
1st publish. novice.
pay attention. you need to read all of this or not read it at all.
as i speak price is going down so dont get excited and buy quite yet.
to gage the price of anything, i rely mainly on volume , EMA , fibonacci BEFORE i look for support levels or candlestick patterns. (then timing, sizing, risk management etc.) only thing i with hold are my 1 or 2 indicators lol.
I am only posting my projections because i am risk free from crypto. looking for an entry here soon in to several assets including this one. reason being: derivatives are superior 4.94% to buying and selling in regards to rate of return for what i do as a short term speculator. my opinion- assets are for insuring against risk. =/
last thing, NEVER put limit buy orders below market price. If you have over the past week on XLM -2.30% you have realized losses and you deserve it because you are delusional.
********************
ALRIGHT
Main caveat: sell volume begins exhaustion around October 11-12, followed by the 14th where smart speculators made considerable gains by buying as volume came back, setting their stop losses at the Oct. 11th Low. THIS GROUP as well as the the buyers in the Oct. 16th volume spike (who are still exposed) have seen volume drop steadily from Oct23 with little exhaustion. All that to say: they are experiencing pressure to sell, and the price is currently too high (people are buying but not enough to get through the sell wall=undisciplined short term investor selling for loss. MACD supports this as well.
Moving Averages show that selling volume has not exhausted itself (or, sell walls). In my experience consolidation, where, there are lower-highs (up spikes become closer to support levels) this indicates a buying opportunity where prices will spike downward-Like a Bull Flag! Prices will continue to go down which is where ill begin to make entry.
all this to deduce:
Price Action- WILL TEST just BELOW the 38% level before correcting itself to below the 23.6% to find support. It will find support then spike towards atleast the 38% level. COULD it do the opposite and test the 23.6 level before crashing downward for an even better buying opportunity? it could. set a stop loss. im more confident however than that due to support levels and again, volume .
My support level is a basic trendline of low closing prices where if it breaks support you should disregard most of my analysis. based on volume alone i believe support is higher (towards october 13th levels) although this basic trendline forces me to act more conservatively, and wait for safer entry as price comes closer to the line. gives me an idea for stop loss. simple shit.
In essence i want to get this XLM -2.30% at a great price then sell for profit off the backs of novice investors, the people buying as it goes up to test the 38% level. The inexperienced WILL see sell walls, will see price stagnate or spike downwards ( volatility ), sell everything for loss, resulting in cascading stop losses and the sell walls being brought down to a lower differential (23.6% level)-holders getting panicked. Certain of this based on, again, volume that aint coming and sell walls (exhaustion) where not enough people are buying to break through them.
BUY RANGE- .2219191-.2203999
STOP-LOSS - .2181959 ( roughly 1%)
LIMIT SELL- .2364000 (+6.5%)
- .2457000 (+10.7)
Timeframe: Oct 30-Nov 6
EDIT: as i speak MACD doesnt want to cross with signal line meaning prices will continue going down. always remember to note divergences.
edit2: upon further review, MACD appears bullish and looks like it wants to cross today. i think im downplaying the returns on this one
pay attention. you need to read all of this or not read it at all.
as i speak price is going down so dont get excited and buy quite yet.
to gage the price of anything, i rely mainly on volume , EMA , fibonacci BEFORE i look for support levels or candlestick patterns. (then timing, sizing, risk management etc.) only thing i with hold are my 1 or 2 indicators lol.
I am only posting my projections because i am risk free from crypto. looking for an entry here soon in to several assets including this one. reason being: derivatives are superior 4.94% to buying and selling in regards to rate of return for what i do as a short term speculator. my opinion- assets are for insuring against risk. =/
last thing, NEVER put limit buy orders below market price. If you have over the past week on XLM -2.30% you have realized losses and you deserve it because you are delusional.
********************
ALRIGHT
Main caveat: sell volume begins exhaustion around October 11-12, followed by the 14th where smart speculators made considerable gains by buying as volume came back, setting their stop losses at the Oct. 11th Low. THIS GROUP as well as the the buyers in the Oct. 16th volume spike (who are still exposed) have seen volume drop steadily from Oct23 with little exhaustion. All that to say: they are experiencing pressure to sell, and the price is currently too high (people are buying but not enough to get through the sell wall=undisciplined short term investor selling for loss. MACD supports this as well.
Moving Averages show that selling volume has not exhausted itself (or, sell walls). In my experience consolidation, where, there are lower-highs (up spikes become closer to support levels) this indicates a buying opportunity where prices will spike downward-Like a Bull Flag! Prices will continue to go down which is where ill begin to make entry.
all this to deduce:
Price Action- WILL TEST just BELOW the 38% level before correcting itself to below the 23.6% to find support. It will find support then spike towards atleast the 38% level. COULD it do the opposite and test the 23.6 level before crashing downward for an even better buying opportunity? it could. set a stop loss. im more confident however than that due to support levels and again, volume .
My support level is a basic trendline of low closing prices where if it breaks support you should disregard most of my analysis. based on volume alone i believe support is higher (towards october 13th levels) although this basic trendline forces me to act more conservatively, and wait for safer entry as price comes closer to the line. gives me an idea for stop loss. simple shit.
In essence i want to get this XLM -2.30% at a great price then sell for profit off the backs of novice investors, the people buying as it goes up to test the 38% level. The inexperienced WILL see sell walls, will see price stagnate or spike downwards ( volatility ), sell everything for loss, resulting in cascading stop losses and the sell walls being brought down to a lower differential (23.6% level)-holders getting panicked. Certain of this based on, again, volume that aint coming and sell walls (exhaustion) where not enough people are buying to break through them.
BUY RANGE- .2219191-.2203999
STOP-LOSS - .2181959 ( roughly 1%)
LIMIT SELL- .2364000 (+6.5%)
- .2457000 (+10.7)
Timeframe: Oct 30-Nov 6
EDIT: as i speak MACD doesnt want to cross with signal line meaning prices will continue going down. always remember to note divergences.
edit2: upon further review, MACD appears bullish and looks like it wants to cross today. i think im downplaying the returns on this one
Note
edit2: upon further review, MACD looks like it could cross later today. looks like im downplaying the returns on this one.Note
RSI bullish! last edit. looks a bit overbought. RSI looks like its going to go up a bit, find resistance, then it will settle around support-our buy range.
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