XLM broke finally out of the trading range
Updated
As you can see in this post (also my previous ideas on XLM/USD), the price has finally broken out of the trading range (0,349$ to 0,476$).
Now it is a matter of patience, since we have small 4hr resistance level (orange level) that has to be broken and was a nice spot for profit taking. Other catalysts, like the positive development of XRP usually drag XLM along.
Next targets for profit taking could be:
0,61$
0,67$
0,74$
Always set your profit taking stop a little bit lower, then the actual resistance level, since we might see small rejections there, but sometimes the price might even break way above.
This is no financial advice - so trade with care!
Just for transparency: I am invested in
XLM - every now and then taking profits and reinvesting.
Now it is a matter of patience, since we have small 4hr resistance level (orange level) that has to be broken and was a nice spot for profit taking. Other catalysts, like the positive development of XRP usually drag XLM along.
Next targets for profit taking could be:
0,61$
0,67$
0,74$
Always set your profit taking stop a little bit lower, then the actual resistance level, since we might see small rejections there, but sometimes the price might even break way above.
This is no financial advice - so trade with care!
Just for transparency: I am invested in
XLM - every now and then taking profits and reinvesting.Note
Hopefully noone panicked and sold their positions (if you are/were invested) on that small bumpy ride yesterday. There were some nice profit taking possibilities at the 4hr resistance level (0,537 and 0,58$). For some reason the second 4hr resistance level at 0,58$ was not included in this screenshot, but it is still existing.Now we can see a retest of the monthly support level (white thick line at 0,468$) - there are two options:
1. After the retest of 0,468 the price will continue rising to the next levels
0,61$
0,67$
0,74$
2. If the monthly breaks, set your Stop-Loss according to your entry level either at 0,448 or 0,40$. Sometimes there can be a heavy selling, before the upwards trend continues and you don't want your Stop-Loss set to high, so that you will exit the position and the price takes off - that is all the risk to rewards ratio.
Just for transparency: I am invested in
XLM and usually have 1/3 invested and keep 2/3 for buying dipsTrade with care!
-This is no financial advice-
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