RE-UPDATED - XLM for LONG - As I see the trendlines.

16 ก.พ. 2021

I know this seems like a lot of trend lines at first, but I still think it makes sense to draw so many trend channels.

Divided by colors, purple is the steepest, which was quite well followed by the chart last week.
Yellow is a lower angle, longer-term trend, green is an even longer one, and red is a fairly comprehensive trend line that can even be seen as framing the entire exchange rate in the event of a serious exchange rate shift.

I think that the intersections of these short-medium-long-term trend lines can be considered quite good support / resistance points for more volatile fluctuations. (for example, a candle on February 15 at 00:00 has also been fallen only till that pont)

Obviously, I could complicate the analysis for example with different indicators, but in this case, I’m testing exactly what I can get if I rely only on the most basic technical elements.

What do you think?

24 เม.ย. 2021

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