XLM has had a lengthy retracement . It has broken out of the long downtrend. I have indicated this with the uptrending channel. Over the next few hours it seems like it will penetrate the bottom of the pitchfork which was support in the past.
Entry when price is on top of upper ascending trend line .
Stop below previous retracement 0.00045
Take Profit: Probably...
After a 7 day dip, we've probably shaken out weak hands.
It is testing support at prior highs as well as trendline support.
Yet, daily RSI remains above 50.
Odds look good for a multi-day bounce, or a rally to new highs. However, they are just odds. I like this chart better than Ripple. Ripple's chart looks... "inorganic", if that's a thing. Just a gut feeling.
In my previous post, I illustrated a possible trade, which initially started off very bullish, yet turned out to be bearish. A triangle with everything going for it could still go both ways: break out through its resistance, or fall through its support. The second scenario happened; as soon as it broke support, we knew the trade wasn't worth continuing.
I'm...
I've caught some of XLM over the last few days but have sold off to let it rest. I can't objectively buy such a high daily RSI, but anything can happen.
It may or may not respect the upper trendline drawn here. If so, perhaps it will take the drawn path.
I've re-entered Ripple, since it has held up strongly, consolidating for 3 days.
I recall doing...
Hi,
I gave some of my technics here,
1)place your supports/resistances (and look at it like a ping pong ball going accross lvls
2)look if there is a channel that could help you decide to stay in the trade or get out.
3Use ichimoku for the trend.
Charts speaks for it self. Enjoy
Disclaimer : Anything that I say is my own opinion. I have been doing my own personal research and believe that Lumen (XLM) is an excellent investment. After following it for a few weeks I made a small investment. Any money that you invest is your responsibility. Do some research and learn about the currency yourself before putting your hard earned money into it. ...
XLMBTC has a lot going for it as far as product and partnerships. Couple of events in early December and its breaking out from its previous run. Looks to be a good long term play. Get in while its cheap even with just a few hundred coin position. This could be HUUUUGGGGEEEE :)
I'm here to learn about the Technical side of investing... and so I'm at a disadvantage that I can't ask questions to the experienced folks in chat. So... I decide to give back by letting you know that XLM is a solid company that will continue it's rise in price. If you aren't sure where to put your currency after exiting a trade... XLM is a good place to put...
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