My 2nd trade idea is on the XLM/BTC pair
XLMBTC
.
The price is on an uptrend and it has passed several resistance levels recently. Since i was not keeping an eye on this and this is my first day of actively watching it, i has caught me in an awkward moment, right in the middle of 2 levels. Since there is no clear direction in which the price is heading i have created two scenarios, one for short and for long.
I know the chart is a bit sloppy but i'm trying to improve and create more clean and crisp charts (if that's a thing in TA).
Again, questions and advice are welcomed.
XLMBTC
. The price is on an uptrend and it has passed several resistance levels recently. Since i was not keeping an eye on this and this is my first day of actively watching it, i has caught me in an awkward moment, right in the middle of 2 levels. Since there is no clear direction in which the price is heading i have created two scenarios, one for short and for long.
I know the chart is a bit sloppy but i'm trying to improve and create more clean and crisp charts (if that's a thing in TA).
Again, questions and advice are welcomed.
Trade closed: stop reached:
The resistance level failed to hold and price went through it, thus triggering the scenario in which i would have placed a Short Trade under the resistance level, who would have been closed when the price would have hit the Stop Loss.
Back to the drawing board.
Back to the drawing board.