I've been watching XLM for a few years now and was fortunate enough to buy back in around $0.05. I said I was going to hold until a buck minimum, but I sold to try to accumulate more coins and lock in profits. Admittedly I rode it down a bit when I should have sold to maximize profits, but some profits are better than none. Anyway, I'm no pro and I've been right some times and wrong at times in the past few years as we all have I'm sure. Due to lack of being a pro, my charts may be crude, I may mistake a bottom where I should start a fib retracement chart (or not flip them upside down at times like I guess I'm supposed to). Regardless, I have put notes in an attempt to "dumb down" my charts and make them easier to understand my mentality and/or thought process.
No one can know for sure what will play out, but from my past few years of obsessing over charts I find the easiest way to predict is simply drawing lines. Maybe there are millions of other ignorant people like me drawing the same lines and that is the only reason it works, but hey, the crap works 99% of the time all the time. I can't predict which point it will bounce or cap out with any true accuracy, but at least it is educated guessing vs just outright gambling. It typically minimizes losses when you can at least ballpark what is likely to happen.
Also, I've seen other people make comments on XLM as well as BTC and other crypto in general about "the news" causing all kinds of price swings. Personally, I don't buy into all that too much. Sure it plays some part in it, but it sure is awfully coincidental that when all these "news events" happen, the price action still follows the same chart patterns largely. It still hits the same supports/resistances etc. Like looking at BTC, which I'm aware this is going on a tangent, you can measure out how many candles per a cycle of a parabolic run up and price increases etc. The gaps are all almost perfectly symmetrical and like damn near to the day on evenness between cycles. So it is hard for me to believe the news made that much of a difference really other than a short term swing for a day or two.
If you like my dumbed down charts and want me to do more with other coins I won't promise I will do them since I've chilled out a bit with the swing trading after learning some lessons a few years back and have been more geared towards longer bigger trades now. (Largely due to cbase charging for every trade now it seems when it used to be free to trade as long as it was limit trades. Now you need bigger swings to make it worth my while which in turn makes it more risky hitting targets)
Sorry for the excessive non-relevant background info, but I imagine others on here have weathered past storms and gained some patience in trading as I have. If nothing else, feel free to bash my charts or thought process. Criticism can fuel further learning.
Disclaimer: Not financial advice, not a professional, this is just me sharing my plan for trading. Follow at your own peril, but I wish you all get your moon shot Lambos.
Happy trading! please leave a like or a comment if you agree or want me to bother with more in the future.
Edit: After posting I see it scrunched up the text etc. Just adjust the plot with the sliders to see more clearly.
No one can know for sure what will play out, but from my past few years of obsessing over charts I find the easiest way to predict is simply drawing lines. Maybe there are millions of other ignorant people like me drawing the same lines and that is the only reason it works, but hey, the crap works 99% of the time all the time. I can't predict which point it will bounce or cap out with any true accuracy, but at least it is educated guessing vs just outright gambling. It typically minimizes losses when you can at least ballpark what is likely to happen.
Also, I've seen other people make comments on XLM as well as BTC and other crypto in general about "the news" causing all kinds of price swings. Personally, I don't buy into all that too much. Sure it plays some part in it, but it sure is awfully coincidental that when all these "news events" happen, the price action still follows the same chart patterns largely. It still hits the same supports/resistances etc. Like looking at BTC, which I'm aware this is going on a tangent, you can measure out how many candles per a cycle of a parabolic run up and price increases etc. The gaps are all almost perfectly symmetrical and like damn near to the day on evenness between cycles. So it is hard for me to believe the news made that much of a difference really other than a short term swing for a day or two.
If you like my dumbed down charts and want me to do more with other coins I won't promise I will do them since I've chilled out a bit with the swing trading after learning some lessons a few years back and have been more geared towards longer bigger trades now. (Largely due to cbase charging for every trade now it seems when it used to be free to trade as long as it was limit trades. Now you need bigger swings to make it worth my while which in turn makes it more risky hitting targets)
Sorry for the excessive non-relevant background info, but I imagine others on here have weathered past storms and gained some patience in trading as I have. If nothing else, feel free to bash my charts or thought process. Criticism can fuel further learning.
Disclaimer: Not financial advice, not a professional, this is just me sharing my plan for trading. Follow at your own peril, but I wish you all get your moon shot Lambos.
Happy trading! please leave a like or a comment if you agree or want me to bother with more in the future.
Edit: After posting I see it scrunched up the text etc. Just adjust the plot with the sliders to see more clearly.
Trade active:
First buy order triggered at $0.24.
My second order is set at $0.18 - $0.20 in case it continues on down. If it bounces and confirms above the upper pink line I will probably close this 2nd order and buy in to ride it up.
The $1.00 target is more where I think it will head, but somewhat expect some pull back around $0.55-0.60 range. Personally I think BTC is going to bounce pretty soon if it does the same thing as it did on the last big uptrend, which could have a positive or negative change to Altcoins obviously. I'll link my BTC thoughts to this to explain why I'm of this opinion.
My second order is set at $0.18 - $0.20 in case it continues on down. If it bounces and confirms above the upper pink line I will probably close this 2nd order and buy in to ride it up.
The $1.00 target is more where I think it will head, but somewhat expect some pull back around $0.55-0.60 range. Personally I think BTC is going to bounce pretty soon if it does the same thing as it did on the last big uptrend, which could have a positive or negative change to Altcoins obviously. I'll link my BTC thoughts to this to explain why I'm of this opinion.
Comment:
if bought at this original post time you should be around 2.5x profits now ;)
