XLM/USD ON WEEKLY
-Currently inside a large ascending triangle pattern
(This is more of a bullish pattern and is neutral until we see a breakout in either direction)
-RSI is holding the same trend as price action
-Volume has stayed stagnant and will most likely pick up on a breakout making for a strong move
Trade setup
Entry point - Above ascending triangle after breakout
Stop loss- Below the bottom of the ascending triangle
Tight stop loss- Below $0.40 after confirmed breakout with retest
Take profit- Green dotted lines at $0.0517 & $0.0632
*Not Investment Advice*
(This is more of a bullish pattern and is neutral until we see a breakout in either direction)
-RSI is holding the same trend as price action
-Volume has stayed stagnant and will most likely pick up on a breakout making for a strong move
Trade setup
Entry point - Above ascending triangle after breakout
Stop loss- Below the bottom of the ascending triangle
Tight stop loss- Below $0.40 after confirmed breakout with retest
Take profit- Green dotted lines at $0.0517 & $0.0632
*Not Investment Advice*
Trade closed: stop reached
Broke bearish out of the ascending triangle.
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.
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.