CRYPTO: XLMUSDT Long Setup - Trade The Breakout

I'm seeing triangles everywhere!

XLM is currently resting on the trendline support of the triangle and is in a nice position to take a long, however, I'm currently waiting on price action before considering any entry. Stops would be tight and targets would be between 0.23~0.26 price levels.

Bình luận:

I've entered on the break of the spinning top on the 1min chart. It did not touch the trendline and for this reason, I entered with only 0.33% position size. IF this is the bottom, even with 0.33% risk, the potential profits are huge.

Giao dịch đang hoạt động:

I was stopped out on my first position but managed to take 0.10% profit since I closed 50% of my position near the top of the move.

I've now re-entered on the hammer of the 3min chart and I'm active in this trade with a 0.5% risk and very tight stops.

Bình luận:

I was stopped out of this trade last night and spent the day scalping the markets waiting for the next setup. I noticed this on the 1m chart and I entered long for the lower supporting trendline of the wedge.

The 8-hour candle is very bullish and so, I will hold this position in line with the analysis above. If we can get back into the triangle and break to the upside, it will still be valid.