XLM - 25/11-2017

Updated

It tried to break it's lower lows, lower high pattern the 16th, (with a beautiful swingtrade candle), so may be worth keeping an eye on, look for higher highs and higher lows.

Higher lows seems to already have formed, still getting lower highs as it approches the 23.6% fib line, and the upper band of the ascending channel (top pink line)

Bullish volume almost completely gone, So breaking though that upper ascending channel is going to be difficult. Support will be met in order at the 23.6% fib retracement, and at the lower ascending channel (bottom pink line).

Expect it to trade somewhat sideways, with dips and pumps within the ascending channel, until the two channels meet around (1st December).

My 2 cents and this is only technicals, crowd sentiment etc etc, upcoming news etc etc have not been looked at. :)

(personal alert put @ 550sats, if triggered I'll keep an eye on it and see if it has a break-out or a false break-out from it's ascending channel.)

Trade active

26 / 11 - 2017
puu.sh/ytTEk/e4cf7eeee3.png

Trying a break-out of the top ascending channel, next daily candle open/close will determine if this is a clean break-out from the top ascending channel, or a false break-out back into the ascending channel. I'll keep an eye on this.

Met resistance against the 38.2% fib line as bulls bought the initial break. (scalping traders-mistakes).

Nearing top of the stochastic cycle. Indicating a potential pullback.

Personal sentiment: Due the Stochastic >70, and no Bullish volume to be found.
I believe the break-out will not happen, and will return into the ascending channel as a false-breakout.
Expecting the first moves to happen around the 1st of December.

Note

27 / 11 - 2017

Break-out confirmed earlier than expected! Top of ascending channel has become the new support! Will soon reach resistance against 23.6% fib!

Trade active

Bullish movement has been enough to break though the 23.6% fib resistance as well.
TP1 has been reached @ 640sats (50% fib retracement), and 66% of holdings has been sold @ ~26% profit.

TP2 = 719sats (61.8% fib retracement) = 36% realized profit if reached.
SL = Moved to 548sats (38.2%) = 9% realized profit.

Trade active

28 / 11 - 2017
Bullish volume is rising!
XLM has penetrated the 50%fib, and moving towards the 61.8% resistance (TP2).

Technical indicators:
Volume - Bullish volume is rising since the confirmed break-out yesterday. (Bullish)
Stochastic - Completely topped out(98), reached peak of the cycle. (Bearish)
RSI - Very near bearish zone (70), currently (66). (Bearish)
MACD - Diverging further apart (12, 24), expected to reach 1 pip soon™ (Bullish)

Personal sentiment:
The break-out occurred the 26th, have seen a welcome response from traders and the likes. Bringing bullish volume to the trade. Little resistance was met at the 50% fib retracement. Looking at the technical, I believe there's a stronger technical sentiment for a bearish turn. Yet important indicators like Volume and MACD is showing a healthy bull-run. With everything considered I expect the price to fall a bit, thinking ~50% fib retracement as new possible support and bounce back up into TP2.
Sentiment: Bullish

Note

I knew I forgot something: puu.sh/yvh1w/103abc68ed.png

Trade closed: stop reached

TP2 has been reached.
Out of this trade.

dkfoxen

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