cjkoepke

XLM Entry

Long
COINBASE:XLMUSD   XLM/USD
Seems that XLM has been consolidating at around .36-.34, with a strong support at the .33 level. Seems like a good entry for a possible breakout in the next couple days, as I think XLM has a lot of room for growth.

Entry: .33
Target: .55
Stop Loss: .285
Trade active
Trade active: Looks like some pretty big selling pressure has taken place since I posted this. Hoping for a retracement bounce at the .29 level but possible this is going to be a loss.
Comment: One thing I did not take into account here: BTC hitting 40k and the inevitable dump at that point. In hindsight this would have been a good short opportunity to buy at a lower price.

Thankfully I didn't invest too much at the .33 and my stop loss will prevent further downside while Coinbase figures out how the hell to keep their platform working during sell-offs.
Trade closed: stop reached: Looking bearish in the near-term at least as it broke down under the .29 level.

Comments

Great analysis, I’m heavily invested in XLM at the moment.

I think XLM reached the .386 fib level by retracing to .29

We should be good from here onward, I expect things to start turning around within 12 hours.

What are your thoughts?
+1 Reply
cjkoepke ExpoGains
@ExpoGains, I would agree, assuming BTC doesn't have further downside. Looks like it popped strongly at 36k and I still have my original position so far.
+1 Reply
Did you imagine values of 0.50 for the weekend?
Reply
cjkoepke sefil46
@sefil46, Haha, I did, but looks like a head and shoulders pattern is forming, so I'm looking at re-entry at .25. Tough after hitting ATH to predict what happens.
Reply
sefil46 cjkoepke
@cjkoepke, What is the maximum value for the weekend?
Reply
Its been a little crazy with the btc voltatility, many stop lossses that been taken in vein..
However, It looks like XLM is complete with its 4th wave and is ready for new heights.
I went in just now on 0.27, lets hope for the best, been abit screwed latley..
Reply
massive reward for this one! and thank you for the update that it is active!
Reply
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