XLM:USD Finally
Updated
After a long, long, looooong consolidation and indecision (painful as hell might I add), FINALLY, the pattern is clear.
And we have a Falling Wedge, a bullish pattern.
We also have a clear resistance trendline of which I am sure will play a significant role the next time we meet it.
I think we will be rejected again and combined with a Trend Based Fib Extension, this trendline at 1.618 shows the target of 1.20 USD.
I think I don't have to explain what would mean if we break this trendline but currently, I don't think it is highly probable.
What do you guys think?
We have 17 days to see if this one truly plays out ;)
(not trading advice, I'm not your financial advisor, do your own due diligence)
And we have a Falling Wedge, a bullish pattern.
We also have a clear resistance trendline of which I am sure will play a significant role the next time we meet it.
I think we will be rejected again and combined with a Trend Based Fib Extension, this trendline at 1.618 shows the target of 1.20 USD.
I think I don't have to explain what would mean if we break this trendline but currently, I don't think it is highly probable.
What do you guys think?
We have 17 days to see if this one truly plays out ;)
(not trading advice, I'm not your financial advisor, do your own due diligence)
Note
We have broken out of the wedge and we're now testing the upper trendline of the wedge as support.
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.