TLS-TN
Long

XLMUSD: Pretty Confident Bounce

BITFINEX:XLMUSD   XLM / Dollar
XLM is a very volatile coin that has been on the downtrend for some time. It is right now correcting itself from the previous drop. If we look at Williams Alligator and the Awesome Oscillator we can see a bullish trend . This trend will likely reach the first resistance @0.1416. After this two things can happen. A rally to the second resistance @0.155 and maybe even go further to the strongest resistance @0.17 . However it is more likely that is will rally towards @0.1416 and then drop. Still an easy long position here.
It will going down until 0.08

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TLS-TN hjschaap
@hjschaap, isn't it more likely that at a low RSI, the chance of a upward trend increases? Please respond, I want to learn more. :)
+1 Reply
hjschaap TLS-TN
@TLS-TN, RSI only works on short term for me. Long term is more like watching te trend. Trendlines, channels, S/R.
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TLS-TN hjschaap
@hjschaap, I see! I'll start messing around more with RSI to see if I can get better TA's. Let's see what will happen. Thanks :D
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hjschaap TLS-TN
@TLS-TN, RSI can confirm a trend.
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