As you can see there is a mini cup and handle formation inside the larger overall cup and handle configuration that is developing.
Currently we are ready for a breakout, but we must watch closely. MACD is moving above the signal showing positive upwards trend.
The breakout has potential to reach 1.618 retrace but will be tested at several points of resistance along the way from previous tested highs.
Wait for it to close above the Fib 1, or shorterm fib 0.5. (Price = 0.00003320)
It might consolidate for a bit before breaking out and closing above if the Fib time zones are accurate.
Entry 0.00003330 ish
stop loss 0.00003145
Points of resistance:
0.00003368
0.00003475
0.00003700
Selling points:
0.00003360
0.00003470
0.00003690
0.00003800
Currently we are ready for a breakout, but we must watch closely. MACD is moving above the signal showing positive upwards trend.
The breakout has potential to reach 1.618 retrace but will be tested at several points of resistance along the way from previous tested highs.
Wait for it to close above the Fib 1, or shorterm fib 0.5. (Price = 0.00003320)
It might consolidate for a bit before breaking out and closing above if the Fib time zones are accurate.
Entry 0.00003330 ish
stop loss 0.00003145
Points of resistance:
0.00003368
0.00003475
0.00003700
Selling points:
0.00003360
0.00003470
0.00003690
0.00003800
ความคิดเห็น:
Now that the breakout is done, it looks like XLM is forming a Three Peaks and Domed house.
The counts represent the peaks, I am not counting the valleys
3,5,7 are the peaks testing the resistance I mentioned from before.
The pullback to the 11,13 will jump to 15,17,19 for another set of closely grouped spikes, then a final jump to 21-25 for 3 more prominent spikes to test another resistance from a few weeks ago, before dropping out. to .786 retrace after 27.
will monitor and update to see what happens
The counts represent the peaks, I am not counting the valleys
3,5,7 are the peaks testing the resistance I mentioned from before.
The pullback to the 11,13 will jump to 15,17,19 for another set of closely grouped spikes, then a final jump to 21-25 for 3 more prominent spikes to test another resistance from a few weeks ago, before dropping out. to .786 retrace after 27.
will monitor and update to see what happens
XLM broke out as expected. Looks like next stop is either 0.00003618, if it breaks through that, then 0.00003700 all the way to 1.618 retrace.