SOT 2.0 Chartoff Submission Week 4 by Krewler
XLM looks to be coming to a potential point of Ignition.
-Has found support on the 12 Hour level
-About to float through a 12 Hour Down Trend
-Has added support from the 4 Hour Up Trend
I have entered this trade at 2530 and expect to see a move up to First Touch the 2706 4 Hour level. I then anticipate a move back down to the 4 Hour Uptrend then possibly ladder to or beyond the tested Daily level of 2975. I will monitor and update on entry and exit of the second part of the trade based on Price Action.
-Has found support on the 12 Hour level
-About to float through a 12 Hour Down Trend
-Has added support from the 4 Hour Up Trend
I have entered this trade at 2530 and expect to see a move up to First Touch the 2706 4 Hour level. I then anticipate a move back down to the 4 Hour Uptrend then possibly ladder to or beyond the tested Daily level of 2975. I will monitor and update on entry and exit of the second part of the trade based on Price Action.
Comment:
I realized I submitted a 4 Hour chart. This is the hourly for clarification on the move...
Comment:
Stop @2497 was hit an hour after entry for a 1.28% loss. Looks like I may have not judge the 12HR support level incorrectly. Things may have worked out if BTC had begun moving up. I feel I was hasty in my entry for this trade and should have waited for crossing of the Down Trend.
Comment:
Tried for a re-entry @2530 upon regaining the 12 Hour Level but missed it IRL. Looks like its moving to my first target with good momentum.
Comment:
It looks like XLM rejected a 1 Hour Level I missed on my chart. If I had gotten entry I would have exited the trade around the 2600 for a 2.6% gain.