GoodmanSimon

XML : Cup and handle forming look for the break out

Long
GoodmanSimon Updated   
BITTREX:XLMBTC   Stellar Lumens / Bitcoin
XML is forming a cup and handle I would wait for the handle to form.

The MACD is crossing over and the RSI is also high, indicating that the handle is forming.

Setup a buy order at around 0.00004900 and wait for the breakout.

Because of the volume, I would not wait too long to take profit after the breakout.
Trade active:
I think we are flattening a lot sooner than expected.

While the decision is yours, I think XLM will be breaking out in the next few hours.

So I want to move my buy order at 5100 or even 5200 if I cannot watch the breakout more carefully.
Comment:
We are getting very, very close to the break-out point.

I placed a buy order at 5100, but the perfect cup and handle seems to be following the perfect pattern, it should breakout at about 4900, (or even 4800, but I personally would not chance that low).

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.