Trend Analysis
The main view of this trade idea is on the 2-Hour Chart. The cryptocurrency Stellar (XLM) is in an ascending triangle setup, with the resistance line around the 0.326 level and the support trend line making higher lows from 0.26 and 0.3. Expectations are for a breakout, with XLM rallying towards 0.4. This setup will fail if XLM were to decline to below 0.3, towards 0.28.
Technical Indicators
XLM had positive crossovers on its short (50-MA), medium (100-MA) and long (200-MA) fractal moving averages. The cryptocurrency is currently trading above these MAs. The RSI is above 50 and the KSTY recently had a positive crossover. These technical indicators support the bullish view on XLM.
Recommendation
The recommendation will be to go long at market, with a stop loss at 0.28 and a target of 0.4. This produces a risk/reward ratio of 1.59.
Disclaimer
The views expressed are mine and do not represent the views of my employers and business partners. Persons acting on these recommendations are doing so at their own risk. These recommendations are not a solicitation to buy or to sell but are for purely discussion purposes. Currently I have a position in XLM.
The main view of this trade idea is on the 2-Hour Chart. The cryptocurrency Stellar (XLM) is in an ascending triangle setup, with the resistance line around the 0.326 level and the support trend line making higher lows from 0.26 and 0.3. Expectations are for a breakout, with XLM rallying towards 0.4. This setup will fail if XLM were to decline to below 0.3, towards 0.28.
Technical Indicators
XLM had positive crossovers on its short (50-MA), medium (100-MA) and long (200-MA) fractal moving averages. The cryptocurrency is currently trading above these MAs. The RSI is above 50 and the KSTY recently had a positive crossover. These technical indicators support the bullish view on XLM.
Recommendation
The recommendation will be to go long at market, with a stop loss at 0.28 and a target of 0.4. This produces a risk/reward ratio of 1.59.
Disclaimer
The views expressed are mine and do not represent the views of my employers and business partners. Persons acting on these recommendations are doing so at their own risk. These recommendations are not a solicitation to buy or to sell but are for purely discussion purposes. Currently I have a position in XLM.
Đóng lệnh: đạt mục tiêu
Target Met. Move stops to Break Even and monitor for a change in trend.
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Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.
Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.