XLM/USD- STRONG STRUCTURE=SIMPLE TRADING PLAN
Xlm has a very well defined price structure with key levels which I’ve highlighted. Given these clearly defined, important levels it makes it very easy to plan a profitable trading idea. Fundamentally Xlm is solid IMO but I will not go into that as the technicals speak plenty. Looking at the chart we see we are clearly already a long ways from the highs and have experienced over a 3/4 of the value being cut from price top to bottom. We are still free falling and although catching falling knives is ill advised I’m here to say I think this is a knife worth trying to catch. This knife is so close to the ground at this point even if I don’t catch it, it’s still going to be right there on the ground for me waiting.
The most likely scenarios are first in green, followed by the some potential other outcomes to watch develop over the next few months.
My plan personally, I will be accumulating as many cheap lumens as I can around the the 20 cent range with recurring buy orders. If price breaks below I will allow the market to settle and hopefully pick some up below 15 cents as well.
Once xlm experiences a trend reversal it can be potentially an extremely violent, abrupt, and even illogical move upward similar to xlm’s evil sister, ripple, and so this is not anything we should be caught off guard by !
My money is in stellar and at these current levels I’m feeling very comfortable about the risk reward available.
I may begin to take some money off the top around 50 cents however market conditions will certainly impact decision making when it comes to profit taking time!
Best of luck trading I hope you were able to gain something from my analysis. Please leave a like or comment if you are up for it, I spent a while analyzing xlm and would love to get feedback.
Thanks, Sawyer
The most likely scenarios are first in green, followed by the some potential other outcomes to watch develop over the next few months.
My plan personally, I will be accumulating as many cheap lumens as I can around the the 20 cent range with recurring buy orders. If price breaks below I will allow the market to settle and hopefully pick some up below 15 cents as well.
Once xlm experiences a trend reversal it can be potentially an extremely violent, abrupt, and even illogical move upward similar to xlm’s evil sister, ripple, and so this is not anything we should be caught off guard by !
My money is in stellar and at these current levels I’m feeling very comfortable about the risk reward available.
I may begin to take some money off the top around 50 cents however market conditions will certainly impact decision making when it comes to profit taking time!
Best of luck trading I hope you were able to gain something from my analysis. Please leave a like or comment if you are up for it, I spent a while analyzing xlm and would love to get feedback.
Thanks, Sawyer
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.