Trade Idea 2 - Short&Long on XLM/BTC
Updated
My 2nd trade idea is on the XLM/BTC pair
XLMBTC.
The price is on an uptrend and it has passed several resistance levels recently. Since i was not keeping an eye on this and this is my first day of actively watching it, i has caught me in an awkward moment, right in the middle of 2 levels. Since there is no clear direction in which the price is heading i have created two scenarios, one for short and for long.
I know the chart is a bit sloppy but i'm trying to improve and create more clean and crisp charts (if that's a thing in TA).
Again, questions and advice are welcomed.
XLMBTC. The price is on an uptrend and it has passed several resistance levels recently. Since i was not keeping an eye on this and this is my first day of actively watching it, i has caught me in an awkward moment, right in the middle of 2 levels. Since there is no clear direction in which the price is heading i have created two scenarios, one for short and for long.
I know the chart is a bit sloppy but i'm trying to improve and create more clean and crisp charts (if that's a thing in TA).
Again, questions and advice are welcomed.
Trade closed: stop reached
The resistance level failed to hold and price went through it, thus triggering the scenario in which i would have placed a Short Trade under the resistance level, who would have been closed when the price would have hit the Stop Loss. Back to the drawing board.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.