AzizKhanZamani
Long

XLMUSDT Neckline Resistance|Inv. Head & Shoulders|Volume Influx

BINANCE:XLMUSDT   Stellar / TetherUS
Evening traders,

Today’s Analysis – XLMUSDT – breaking its neckline resistance, a retest will allow for a long entry with defined risk.

Points to consider,
- Trend bullish (higher lows)
- Macros resistance breached ( H&S Neckline)
- 21 MA support (visual guide)
- Oscillators overextended
- Strong volume influx
- Neckline retest (long entry)

XLMUSDT’s immediate trend is bullish by establishing consecutive higher lows, a higher high has been confirmed by breaking neckline resistance.

A retest of the neckline will confirm structural S/R Flip, solidifying the level and allowing for a risk defined entry.

The 21 MA is immediate support; this can be used as a visual guide for trend continuation.

Oscillators are both in overextended regions; a retest of the neckline will direct them back to neutral territory.

Volume influx has been significant on the break of the neckline resistance. This indicates a true break of the level, continuation is highly probable.

Overall, in my opinion, a long trade is valid with defined risk; an optimal entry will be at the neck line retest.

The 21 MA is to be used as a visual guide for the trade.

What are your thoughts?

Please leave a like and comment,

And remember,

“Trade the market in front of you, not the one you want!” – Scott Redler

Comments

Aye looking good mate, we are both looking at the same target region roughly. Let's go!
+2 Reply
AzizKhanZamani AlphaBotSystem
@AlphaBotSystem yeah bro! Let’s get it !
+1 Reply
Buy sell
+1 Reply
AzizKhanZamani rizwankhan94021
@rizwankhan94021 when ever you see a trade :)
Reply
Uhhhmm.. it's already touched the neckline. Why wait for it to hit again?? The trade was there. It broke and retested it already..
+1 Reply
@M4m2m0th yes it did, most coins come back for a proper retest, we are waiting for the most risk defined entry here, you can enter now as a momentum trade but running the risk of a wider stop
+1 Reply
M4m2m0th AzizKhanZamani
@AzizKhanZamani, trying to understand better. What is a proper retest? The best trades break and don't retest this clearly retested on the 4hr TF which is how I traded it
+1 Reply
@M4m2m0th when a key level is broken, price usually trades away from it and comes back for a retest (rounded retest) XLM had an immediate retest (break retest continuation) which we missed, for a risk defined entry we want to wait for price to come back to the level (that’s only if it does) you can still enter now on momentum but your s/l will be larger, logically in this trade your s/l should be below the neckline resistance
+1 Reply
M4m2m0th AzizKhanZamani
@AzizKhanZamani, Rounded like this?
+1 Reply
@M4m2m0th that’s more of a break retest continuation, the way I have my arrows on the chart shoulder guide you which is more of a round retest
Reply
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