Not financial advise. Do your own research. The ideas shared here are the personal opinions of the BitDoctor team. Trade at your risk.
I had mentioned previously that XLM was at a critical level and that has not changed. In the last couple days we are showing signs of bullish divergence so I felt like I had to take this trade setup. I've got a strict stop loss here in case I am wrong on this trade. I'm looking at an entry around 2962and targeting around 3500 to 3700. The reward value is pretty good so I am willing to take on the risk here.
We're in a bear market as I keep reminding everyone so any time you try and go long on something, you've got to have a stop. Not trading with an area where you know you are wrong is just reckless.
Know when you're wrong and cut your losses. It could rebound but I'm willing to bet some of the people that bought at 4400 to 4700 thought the same thing. Know when you are wrong.
Trade safe friends!
I had mentioned previously that XLM was at a critical level and that has not changed. In the last couple days we are showing signs of bullish divergence so I felt like I had to take this trade setup. I've got a strict stop loss here in case I am wrong on this trade. I'm looking at an entry around 2962and targeting around 3500 to 3700. The reward value is pretty good so I am willing to take on the risk here.
We're in a bear market as I keep reminding everyone so any time you try and go long on something, you've got to have a stop. Not trading with an area where you know you are wrong is just reckless.
Know when you're wrong and cut your losses. It could rebound but I'm willing to bet some of the people that bought at 4400 to 4700 thought the same thing. Know when you are wrong.
Trade safe friends!
Trade active:
I'm not a real big fan of the latest price action. Dipping down to almost 2900 and sitting here without any big reactionary bounce. I think chances of getting stopped out are pretty good. Obviously I'm hoping that it doesn't happen, but odds aren't looking to be in favor of the long play right now.
You might now ask, Why don't you close the position now?
I've already taken the risk to enter the long position and I will continue to allow the risk to play out because the reward is decent. I've accepted the risk and am willing to let the trade make its course.
Trade safely friends.
You might now ask, Why don't you close the position now?
I've already taken the risk to enter the long position and I will continue to allow the risk to play out because the reward is decent. I've accepted the risk and am willing to let the trade make its course.
Trade safely friends.
Comment:
Trade active:
Continuing to see things moving sideways chopping away. Not much has changed since yesterday except I'm looking at a wedge forming. Once we near the apex we should see a move start to break out.