XLM Is Alive

XLM Is Alive

This is an update to the last chart I posted on XLM             a few days ago. We are looking at the one hour chart. This market is alive. It has life. We watched this marked grind lower into a support area with little to no volume and while producing nothing but small ranging days. Today as you can see XLM             has produced a few large ranging days with higher volume . On the 1 hour chart XLM             has broken through all three moving averages. The red dash i have on the chart above the 120 bar moving average on the hourly chart is where the 50 bar moving average is on the 4 hour chart. At the moment price is fighting to stay above it. Price has also broken through the down trendline that is inside the trading range marked by the upper two blue horizontal lines. The lower two blue lines are showing an area of support. The entire time price was finding its way to the support area , the lows being made by the ROC were diverging. For now i am only viewing this set up for scalping a few dollars out of XLM             . With the red candle that formed after the two green candles that gave us the breakout, this could be all this market is going to rise with this move. Lets wait and see.

Be the first to comment

Leave a Reply

Your email address will not be published.