Could This Bullish Break Take XLM to .95?!
Let's break down what I see on 
XLMUSD on the 4Hr Chart!
Based on the Rally from the Low @ .089 to the Multi-Year High @ .633, we can see Price fell into a Pennant Pattern, First making a Retracement to .425 or the 38.2% Fibonacci Level to find Support then found Support again at .505 or the 23.6% Fibonacci Level.
Price has given us a Break of the Falling Resistance and upon the opening of the 4H & 1H Candle, Retested the Break of Falling Resistance.
Now the Rally generated from the Low @ .229 to the High @ .633 was a ~ .40 or 175% increase.
-If Bulls are able to hold Price above the .50 - .54 area, that .40 movement or potential 74% increase in Price from the Point of Break could lead us to the Potential Target of .95!
XLMUSD on the 4Hr Chart!Based on the Rally from the Low @ .089 to the Multi-Year High @ .633, we can see Price fell into a Pennant Pattern, First making a Retracement to .425 or the 38.2% Fibonacci Level to find Support then found Support again at .505 or the 23.6% Fibonacci Level.
Price has given us a Break of the Falling Resistance and upon the opening of the 4H & 1H Candle, Retested the Break of Falling Resistance.
Now the Rally generated from the Low @ .229 to the High @ .633 was a ~ .40 or 175% increase.
-If Bulls are able to hold Price above the .50 - .54 area, that .40 movement or potential 74% increase in Price from the Point of Break could lead us to the Potential Target of .95!
Trade ativo
Here on the Daily we can see if Bullish Momentum stepped in, this would be a good Area of Support!
Added Coins
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"An investment in knowledge will pay the best interest." - B. Franklin
Novi's Trading Channel
t.me/+l3fTcsZu91ZiZDkx
Novi's Trading Channel
t.me/+l3fTcsZu91ZiZDkx
Publicações relacionadas
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.