Hi There,
There are some market gurus who will tell you not to overthink. As in the case of this one, the price of XLM is in a bull trend, so you will look for bullish opportunities to buy into the trend, as simple as that.
But then, the price is neither simple nor stable like that. There are price reversals that happen in the market which could run you to losses. So despite what some gurus tell you, the financial markets do require you to overthink.
Right now the price is falling here, it has the potential to fall all the way to the 0.380000 level, and if it breaks that level, it will fall even further down to potentially test the bullish trend-line. But until that happens, the price is bullish.
So there needs to be a supported pullback to the bullish trend for an entry. If you wait for a second candle to appear and confirm it with the candle that comes after it so as to enter the bull-run, that will be a nice theory but a miserable way to approach it. That is because each life of a candle does not mean it will support the bias of a trend.
To properly enter a trending trend is, therefore, to estimate which level has the highest probability that it will hold a pull-back, and for now, it is this level 0.397087 should the price fall.
0.474946 is our directional bias for a potential tp of 0.444445
.
Khiwe
On this profile page, the shared analysis, ideas, and also, the strategy of a chart belong to Khiwe with some being influenced. The technical set-ups are speculative, they are not guaranteed for accuracy or completeness in the form of any content; -it is not to advise on financial markets. Please apply your own analysis and confirm it with price action
There are some market gurus who will tell you not to overthink. As in the case of this one, the price of XLM is in a bull trend, so you will look for bullish opportunities to buy into the trend, as simple as that.
But then, the price is neither simple nor stable like that. There are price reversals that happen in the market which could run you to losses. So despite what some gurus tell you, the financial markets do require you to overthink.
Right now the price is falling here, it has the potential to fall all the way to the 0.380000 level, and if it breaks that level, it will fall even further down to potentially test the bullish trend-line. But until that happens, the price is bullish.
So there needs to be a supported pullback to the bullish trend for an entry. If you wait for a second candle to appear and confirm it with the candle that comes after it so as to enter the bull-run, that will be a nice theory but a miserable way to approach it. That is because each life of a candle does not mean it will support the bias of a trend.
To properly enter a trending trend is, therefore, to estimate which level has the highest probability that it will hold a pull-back, and for now, it is this level 0.397087 should the price fall.
0.474946 is our directional bias for a potential tp of 0.444445
.
Khiwe
On this profile page, the shared analysis, ideas, and also, the strategy of a chart belong to Khiwe with some being influenced. The technical set-ups are speculative, they are not guaranteed for accuracy or completeness in the form of any content; -it is not to advise on financial markets. Please apply your own analysis and confirm it with price action
Trade closed manually:
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