Keep it simple!
Green box is where you buy, Orange box is where you take profit. At each profit target I take out 20% of my initial trade.
With a weekly view of XLM we can see it has come down to the first green box and held an important level at the 5400's Sats. For those that entered the trade, your first profit target should have been hit, and the trade is not profitable. Two outcomes are likely to happen here now.
1 - XLM will continue to make higher lows at this range and test new levels of resistance which were previous support OR
2 - XLM re-test the green box at 5400 and this breaks. If this happens then your next entries should be in the second green box range. This is a final support level which has yet to be tested.
In both cases the set ups are easy, and the stops below the boxes make the risk to reward VERY good.
Please note that the boxes are a range, so you should be laddering in and out your positions. This means the price is averaged in your favour.
Green box is where you buy, Orange box is where you take profit. At each profit target I take out 20% of my initial trade.
With a weekly view of XLM we can see it has come down to the first green box and held an important level at the 5400's Sats. For those that entered the trade, your first profit target should have been hit, and the trade is not profitable. Two outcomes are likely to happen here now.
1 - XLM will continue to make higher lows at this range and test new levels of resistance which were previous support OR
2 - XLM re-test the green box at 5400 and this breaks. If this happens then your next entries should be in the second green box range. This is a final support level which has yet to be tested.
In both cases the set ups are easy, and the stops below the boxes make the risk to reward VERY good.
Please note that the boxes are a range, so you should be laddering in and out your positions. This means the price is averaged in your favour.
Comment:
For those that took this trade you should have hit your 1st, 2nd and 3rd profit target, and maybe juts hit your 4th as well! Use some of these profits to buy back in the green box range.