stinley

stinley

Looks like we've got a cup and handle forming on the one hour. Downward handle with a bounce to the upside signals a potential long here! Nice formation coming off the initial W I pointed out in my last analysis.

stinley

We've got a nice W forming on the 1 and 4 HR charts for $XLM. We have a great long entry around the $0.292 neckline that sets us up for a very nice risk reward ratio at 3:1! If we can't break above the neckline, we'll stop out around $0.276 at the second bottom.

stinley

We seem to be set up for a bearish scenario for a break to the upside if we can get out of the channel before hitting the bottom support around $0.26/$0.25 (My personal prediction). If we can't hold I think we go down to find new support. Seems that we've already broken out of the channel to the up and are retesting support before continuing upward.