Stellar Lumens XLM Potential 14:1 Setup Stellar is an entire ecosystem with expanding potential.
Here is something I have positioned in for now.
TRADING IS NOT SUITABLE FOR EVERYONE.
If you don't know what you're doing... TRADING CAN CAUSE YOU TO COMPLETE LOSE ALL OF YOUR MONEY.
Even if you "know what you're doing" you can still experience expensive LOSSES and lessons.
You could use a practice account and trade with leverage.
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Stellarbtcoin
XLMBTC formed bearish BAT | A good short opportunityFormation of bullish BAT:
This time on daily chart the price action of Stellar (XLM) has formed bearish harmonic BAT pattern and entered in potential reversal zone. There pricelie also has found 200 simple moving average resistance that will also push down the price line.
Where we should place sell orders?:
As per Fibonacci sequence of bearish BAT the sell order can be placed between: 0.00000701 to 0.00000716 sats
Stop Loss:
The potential reversal zone area which is up to 0.00000716 sats can be used as stop loss in case of complete candle sticks closes below this level.
Note: This idea is education purpose only and not intended to be investment advice, please seek a duly licensed professional and do you own research before any investment.
There is a possibility for the beginning of uptrend in STRBTCTechnical analysis:
. STELLAR/BITCOIN is in a downtrend and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 36.
. While the price downtrend in the Daily chart and the RSI is not broken, bearish wave in price would continue.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (0.0000266 to 0.0000255). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (0.0000266)
Ending of entry zone (0.0000255)
Entry signal:
Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing" , "Hammer" or "Valley" in other words,
NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone.
To learn more about "Entry signal" and the special version of our "Price Action" strategy FOLLOW our lessons:
Take Profits:
TP1= @ 0.0000332
TP2= @ 0.0000348
TP3= @ 0.0000388
TP4= @ 0.0000426
TP5= @ 0.0000463
TP6= @ 0.0000497
TP7= @ 0.0000585
TP8= Free