XLM 12HR Analysis: THE WHOLE PICTURE [bull & bearish ideas]
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 has been rising a bit. BTD 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 has been rising a bit. BTD 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!
