If you want to be a master on trading, You must review over thousands charts! And, sleepless nights!
There is no overnight success in a trading life. Let me remind you one of my favorite old story ;
A Harvard professor once asked his students to do a special report on fish. His scholars went to the library, read books about fish, and then wrote their...
Stellar Lumens - Falling Wedge, Bullish Divergence
Falling Wedge since November Breakdown
Bullish Divergence on Daily RSI
Looking for bounces and potentially bottom reversals at green lines - 765, 570, 362 sats.
Falling below the support level from the previously formed wedge means that the direction will be down and looking towards the next monthly support level of 720 satoshis. This is a very strong support level and one of the lowest prices in a long time for #XLM. In my opinion it will go and test that support level before recovering to the previous monthly support of...
With the juicy marketcap BTC has brought in the markets, we should expect a big contribution towards the alts coins especially while BTC will cool off for a bit. XLM is definitely a great sleeper waiting to unleash some green dildos!. The hammer doji highlighted has a decent wick that will confirm atleast an upcoming 30%+ profit, our STOCH RSI and RSI indicators...
If XLMUSD breaks out of the pennant it would possibly be big gains. But if it drops below the support line it could go back to $0.06 and then correct from that point.
This isn't trading advice. Just saving charts to learn myself.
I learned to cancel the noise as I'm an investor and not a trader. XLM and other large coins look good to long the next couple of years. There is still some downside pressure right now though. Very similar to ADA as seen in my ADA published chart.
I am an amateur and this is not financial advice though.
XLM is consolidating along with bitcoin. And being rejected off the near term moving averages. Indicated on the chart are the levels where I would like to buy and where I would like to sell this coin. Good luck.
Commodity : STELLAR LUMENS
Trade Type : LONG
Trading Against : BITCOIN
Entries : Double-UP Entries throughout the Buy Zone
Profit Taking : 25% at each TP point.
Profit Locking : Move SL to break even once TP1 is hit, to TP1 once TP2 hits, to TP2 once TP3 hits and so on
Duration - 1-2 weeks
I'll cut to the chase and say that I am bullish for Stellar in the short term.
Reason #1: It is my belief that Stellar found it's bottom and the recent bullish move that followed Bitcoin has only strengthened my opinion on this matter-
Reason #2: Looking at the charts we can see that this is a classic falling wedge formation....