On daily chart , the price action of XLM is completing final leg of bullish BAT. The completion of this pattern depends on breaking down of 25 simple moving average. Otherwise, the pattern can be invalidated.
Buying And Sell Targets:
The buying and sell targets as per Fibonacci sequence of Gartley pattern should be:
Potential reversal or buying zone: $ 0.1071 to $ 0.0909
Fibonacci projection or sell zone: $ 0.14612 to $ 0.2034
Stop Loss:
The potential reversal zone area that is up to $0.0909 can be used as stop loss in case of complete candlestick closes below this level.
Possible profit and loss ratio:
As per above targets this trade has a profit possibility of 123.7% and as per the above-mentioned stop loss, the loss possibility is 15%.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.
Buying And Sell Targets:
The buying and sell targets as per Fibonacci sequence of Gartley pattern should be:
Potential reversal or buying zone: $ 0.1071 to $ 0.0909
Fibonacci projection or sell zone: $ 0.14612 to $ 0.2034
Stop Loss:
The potential reversal zone area that is up to $0.0909 can be used as stop loss in case of complete candlestick closes below this level.
Possible profit and loss ratio:
As per above targets this trade has a profit possibility of 123.7% and as per the above-mentioned stop loss, the loss possibility is 15%.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.
