LONG XLM STR Stellar Lumens Bullish Pennant Breakout Opportunity
This should provide a nice ~15% or more scalp on an expected market move for Stellar. Currently consolidating within a bullish pennant.
Have crossed the ichi on the 30 and 45 minute time frames, and above the 200ema. RSI and MacD provide upward growth.
Pending orders should be placed at a break of the wedge with profit targets around 900-940 (depending on your risk management). I believe
we will challenge this previous swing high and drop down again as higher time frames show RSI is approaching overbought levels.
However, there may be another large move up, as this would also note the completion of a large cup and handle formation.
Pay attention to market signals and take profits when you can, as you will always be able to re-enter at a later point.
Good luck.
Have crossed the ichi on the 30 and 45 minute time frames, and above the 200ema. RSI and MacD provide upward growth.
Pending orders should be placed at a break of the wedge with profit targets around 900-940 (depending on your risk management). I believe
we will challenge this previous swing high and drop down again as higher time frames show RSI is approaching overbought levels.
However, there may be another large move up, as this would also note the completion of a large cup and handle formation.
Pay attention to market signals and take profits when you can, as you will always be able to re-enter at a later point.
Good luck.
Trade active:
Breakout confirmed. Pay attention to the 880 area as well for possible profit target.
Trade closed: target reached:
Target reached! I still think there's more fuel left in the tank and next move is probably to re-test 940. If it breaks thru that, then strap on your moon boots.