XLM has almost reached the end of the triangle pattern and volume is falling, which means a big move is coming. Sorry for messy chart, this is one I use for tracking my trades.
There's a lot of ideas here. You can read them on the chart, so I won't go into too much detail here.
Pay attention to Market Indices: TOTAL2 [market cap of altcoins] has been rising a bit. BTD [btc dominance] has been falling. That's led to some nice little gains for alts in the last few days, and some major gains for LINK in particular.
The gray line & green circles represent POSSIBLE trendline / retest levels that could form if XLM puts in a long-term bullish retest of support that line up with fib levels, projected 200 & 100 SMA lines, and previous volume. This would be the short term bearish idea. I'm going to set a stop loss below the triangle so I can buy back in around there should this occur.
If XLM breaks and holds above the dotted yellow lines marked "BB," that would confirm a break out - bullish buy signal. You can see my short term targets marked by "SS" (Sell set) within the ascending channel I believe XLM will form if it does break out here.
happy trades,
CD
PS: Dont forget to set stop losses. That 26% retrace may not have been the end of it-- we're not out of the woods just yet!
There's a lot of ideas here. You can read them on the chart, so I won't go into too much detail here.
Pay attention to Market Indices: TOTAL2 [market cap of altcoins] has been rising a bit. BTD [btc dominance] has been falling. That's led to some nice little gains for alts in the last few days, and some major gains for LINK in particular.
The gray line & green circles represent POSSIBLE trendline / retest levels that could form if XLM puts in a long-term bullish retest of support that line up with fib levels, projected 200 & 100 SMA lines, and previous volume. This would be the short term bearish idea. I'm going to set a stop loss below the triangle so I can buy back in around there should this occur.
If XLM breaks and holds above the dotted yellow lines marked "BB," that would confirm a break out - bullish buy signal. You can see my short term targets marked by "SS" (Sell set) within the ascending channel I believe XLM will form if it does break out here.
happy trades,
CD
PS: Dont forget to set stop losses. That 26% retrace may not have been the end of it-- we're not out of the woods just yet!
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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.
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.