My Game Plan for XLM
Updated
XLM has reach been slowly traveling in an uptrend level setting higher lows the last couple of days. It has reached a decisive point in this wedge.
This is my game plan for the shorter term swing trading with XLM. If it breaks out of this wedge, I am looking to a near term target of around 37 cents and a second target at around 43 cents. If it breaks down, I am looking to accumulate at around 28-29 cents.
In the past XLM has an 80% correlation with ETH, and 75% correlation with ADA. As all these assets have been gaining, I feel bullish towards XLM.
Good luck and happy trading.
This is my game plan for the shorter term swing trading with XLM. If it breaks out of this wedge, I am looking to a near term target of around 37 cents and a second target at around 43 cents. If it breaks down, I am looking to accumulate at around 28-29 cents.
In the past XLM has an 80% correlation with ETH, and 75% correlation with ADA. As all these assets have been gaining, I feel bullish towards XLM.
Good luck and happy trading.
Comment
This is my personal opinion and I am not a financial advisor.Target 1 reached. XLM is moving rather slowly compared to its peers. But that just means it has more room to move.
Comment
XLM reached 42 cents and is now using the 37 cents region as a support level. Trading Volume for XLM has increased tremendously. If we break above 43 cents, we can reach the 50-52 cents region. If XLM breaks down below the 37 cents region, the next support level will be the 33 cents region.Watch BTC and trade cautiously.
Comment
Target 3 of 52 cents is reached. If BTC is still consolidating, XLM can have another leg up. Otherwise, previous resistances are supports.Comment
This trade is complete. I would look for the pullback to 37 cents region.
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