JPDub16

JPDub16

This is a follow up on a previous post on the ascending channel on the daily chart. Taking a few more steps back looking at the weekly chart there are few indicators that are flashing *ALERT* Waddah Attar - The green candle has fallen below the Explosion Level (Yellow Line). Should the next candle stay below the Explosion Level this would be a...

JPDub16

Looking at the Daily chart the price action is coming following the lower trendline. MacD shows plenty of room for growth to the upside. Looking for resistance at the red box area around .51-.53 . If broken look for price to reach the upper channel line. Based on the chart it could be a day or two before the move. Looking bullish!

JPDub16 Updated 

Looks like a Triangle has formed on the daily chart. I would like to say I’m bullish, but there is a lot of bearish sentiment out there right now. Lots of talks of bull traps and fear and greed index warnings. On the flip side there have been higher lows and with the release of Horizon 2.0 XLM may have the strength to push to .64 or even .69. This candle will...

JPDub16

A follow up on my earlier analysis: Still trading sideways waiting for this consolidation period to coil up volume. Once that happens it looks like the target is the green box. Volume is still low and this may continue sideways until around 3-4AM EST at which point the chart will reach the resistance from the downward sloping channel forcing a breakout. Trade wisely!

JPDub16 Updated 

Quick thought at the moment. It appears XLM is in a descending channel on the 1HR timeframe. It has flipped below the strong resistance line that held for days prior. A test of that resistance line is coming up and if price breaks through it could flip to new support. If not I believe it may be a continuation through the channel until we reach the old support...

JPDub16

There are two patterns that have formed both in favor of a bullish breakout. The first, which is an inverse head and shoulders, has been pointed out several times. My target for a possible breakout would be .40. The second, is a bullish pennant which would have a target of .35. In either case there is strong resistance around the .32 level that will need to be...

JPDub16 Updated 

COINBASE:XLMUSD Possible cup and handle pattern forming on the 1HR. If valid breakout should reach around .305. I am new to TA, please do not take my word as bond. All feedback is appreciated.