Hello Traders. I hope you are having a great Tuesday.
Today I want to talk about XLM. Well as you can see in 4H timeframe, price broke the green area which was ATH an has retested it 2 times and has gone up
since then. Now price is moving in a channel and recently has broken out of a purple range and in smaller timeframes has managed to pullback to it. So in my
opinion it is a good place to open a long position.
Entry : 0.61$ ( around purple range ) Target : 0.8$ ( midline of the channel ) Stop loss : 0.58$ ( if the candle closes below the purple support )
Midterm target for XLM can be around 1$.
🚩 Always remember to put stop loss for your orders in order to reduce the risk of your trades.
🚩 Always keep an eye on BTC chart as well because it can affect the movement of altcoins as you all know my dear traders.
If you want to check out my other analysis , I have linked them below and also don`t forget to follow me for further updates and new analysis.
Thank you guys for reading my idea on XLM and don`t forget to comment what you think. ✌
Today I want to talk about XLM. Well as you can see in 4H timeframe, price broke the green area which was ATH an has retested it 2 times and has gone up
since then. Now price is moving in a channel and recently has broken out of a purple range and in smaller timeframes has managed to pullback to it. So in my
opinion it is a good place to open a long position.
Entry : 0.61$ ( around purple range ) Target : 0.8$ ( midline of the channel ) Stop loss : 0.58$ ( if the candle closes below the purple support )
Midterm target for XLM can be around 1$.
🚩 Always remember to put stop loss for your orders in order to reduce the risk of your trades.
🚩 Always keep an eye on BTC chart as well because it can affect the movement of altcoins as you all know my dear traders.
If you want to check out my other analysis , I have linked them below and also don`t forget to follow me for further updates and new analysis.
Thank you guys for reading my idea on XLM and don`t forget to comment what you think. ✌
Trade closed: target reached:
0.8 was touched exactly.
