XLM – WOW, LOOKING INTERESTNG!

13 мар. 2019 г.

XLM – WOW, LOOKING INTERESTiNG!

Technicals

-XLM went bullish on FEB 6, 2019.
-Primary orange dotted trendline 3-data points (confirmed)
-Secondary trend with 2-data points starting March 4, 2019.
-Overhead resistance following the solid green trendline; 2-data points.
-POC for this dataset = .0841xxx
-Price has moved from the lower VP to the upper VP and trading above that VP, HVN.
-Significant resistance/support at the .50 FIB price level.
-XLM is trading in a bullish trend channel with 2-data points on the upper trend and 2-data points on the lower, denoted in between the upper and lower dashed lines.
-Volume is significant for accumulation



Conclusion

This is a nice run for XLM and it’s obvious that we are in a bull trend. Looking at this dataset, it appears we are in a trend reversal backed by significant buying. As I type this the .50 Fib price level is holding as resistance. XLM has moved away from the primary trendline, so I feel it needs to come back and retest it before I consider it.
.
Trading Ideas:

If you’re interested in going long on XLM, you consider waiting to see if the secondary trendline holds on the next profit-taking volume bar.

Short – No shorting ideas.

What’s Biff doing?

Well, no one sent Biff a message cluing me this was moving in such a profitable way. THANKS GUYS! I do not hold any XLM, but may consider getting in. My rules for trading are simple: Seek to swing trade with a 20-percent profit, so if I can get in on or near the secondary dashed trendline, and out just above the .50 fib level, I would consider that a successful trade. I do think XLM is getting set up for some profit taking and that will happen just above the .50 fib price level. A break and hold above the .50 fib and I could consider going long at that price level.

Best,

Biff

Don’t forget to hit that like and follow Biff for more charting fun and money-making opportunities!


Housekeeping:

I use green trendlines for overhead resistance price levels.
I use orange trendlines for support price levels and to show price distribution patterns.
I use an orange dotted trendline to indicate the Primary Trendline and a dashed orange trendline to denote the secondary trendline.
My charts is a volume based analysis and volatility perspective.

Indicators:

Fibonacci retracement
Volume Profile
Volume

The data calculated Is contained in the chart area. If you expose the chart to more or less data, the Point-Of-Control may move to reflect the addition or subtraction of new data. Finding the right dataset and correlating the FIB retracements requires a lot of time!

Nomenclature:

POC – Point-Of-Control is the price level for the time period with the highest traded volume.
VP – Volume Profile displays trading activity over a specified time period at specified price levels.
HVN – High-Volume Nodes are peaks in volume at or around a price level.