ProsperousForex
Long

XLM at a HOT SPOT!

BITFINEX:XLMUSD   XLM / Dollar
What's up Traders!

After a long bearish sentiment, we have finally got our bullish impulse. Price reached a potential weekly inverse head and shoulders neck with price action supported by a huge volume . This simply shows that the big boys are interested in this level. Weekly Inverse head and shoulder pattern indicates the potential start of a bullish trend so our bias is bullish . Moreover, if we close above 0.1367 we also get weekly Higher High and a new weekly bullish trend confirmation.

If bears hold the level, we could see some correction to near-term support(0.11) that is also a round psychological number. This is where bulls could attack again causing market to test that weekly inverse head and shoulder neck.

What are your thoughts on the current market?

Enjoy the ride!

Follow Prosperous Traders

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out