XLM retracement
Please feel free to comment or challenge me on my TA. Or leave a like to show support. Thank you!
-------------------------------------------------------------------------------
Stellar has been ranging in the yellow box since the beginning of July 2019 and is very much due for a breakout/-down. And there are many factors that come into play here.
- MACD indicator show the 12-day EMA is crossing below the 26-day EMA. In 2020 this has led to a period of downward momentum twice. As shown by the yellow arrows on the MACD.
- Each time this happened, Stellar retraced back to either the bottom of the channel (daily support @ 595 sats) or to the middle of the channel (daily support @ 711 sats). As shown by the yellow circles.
- Should this happen again, we'll see a nice retracement towards either 711 sats or 595 sats.
Either way, I'll be setting my buy order just above 711 with a SL of about 2%. If my SL is filled, I'll place a new buy order just above 595 sats, with a SL of about 2%.
Targets will be the daily levels shown on the chart.
-------------------------------------------------------------------------------
Stellar has been ranging in the yellow box since the beginning of July 2019 and is very much due for a breakout/-down. And there are many factors that come into play here.
- MACD indicator show the 12-day EMA is crossing below the 26-day EMA. In 2020 this has led to a period of downward momentum twice. As shown by the yellow arrows on the MACD.
- Each time this happened, Stellar retraced back to either the bottom of the channel (daily support @ 595 sats) or to the middle of the channel (daily support @ 711 sats). As shown by the yellow circles.
- Should this happen again, we'll see a nice retracement towards either 711 sats or 595 sats.
Either way, I'll be setting my buy order just above 711 with a SL of about 2%. If my SL is filled, I'll place a new buy order just above 595 sats, with a SL of about 2%.
Targets will be the daily levels shown on the chart.
Publikasi terkait
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.