XLM Bearish Divergence
I haven't been doing much publishing lately, and I will be perfectly honest as to why: I lost my confidence. The BTC correction on 3/26/21 and the subsequent turn around really shocked me and I was unable to remove myself from the emotional impact that had. I jumped into a few coins on their rise just to make some money, but at that point I had only "It's going up and will likely hit X%" going for me. I had no idea why the market was moving, or for how much longer. TL:DR I started going back to my basics and learning more about indicators and behaviors in the market.
Something that I learned was how to look for divergences, whether they were reversals or continuations. Since then I have been very successful in entering and exiting positions on the 15, and 1 hour charts. With that success I built more confidence, and started the more difficult work of looking at long term behaviors and indications. This lead me to publishing this idea.
We are currently trading in a classic Bearish Divergence on the Daily: Higher Highs on the Price, and Lower Highs, on the Stochastic. This signal, especially in crypto currency is effective at almost every time chart, but has shown itself to be especially effective in XLM, and BTC charts. To that end, if we are at a turning point, in terms of divergence, that does not mean it is all downhill from here. In fact the likelihood of another impulse to even higher levels is likely. With that being the case, I will not claim to know how much time is left, nor what the next levels will be only that we are signaling a Bearish Divergence and to trade accordingly.
Most estimates place the next high between .71 and .85. My suggestion, and what I am doing myself, is having XLM in hand and waiting for those levels, and staying in enough Fiat to buy in at a local bottom, or to keep out of the potential, violent, downswing that will occur like with every other top we have encountered. I am not a financial advisor so take this with a grain of salt!
Something that I learned was how to look for divergences, whether they were reversals or continuations. Since then I have been very successful in entering and exiting positions on the 15, and 1 hour charts. With that success I built more confidence, and started the more difficult work of looking at long term behaviors and indications. This lead me to publishing this idea.
We are currently trading in a classic Bearish Divergence on the Daily: Higher Highs on the Price, and Lower Highs, on the Stochastic. This signal, especially in crypto currency is effective at almost every time chart, but has shown itself to be especially effective in XLM, and BTC charts. To that end, if we are at a turning point, in terms of divergence, that does not mean it is all downhill from here. In fact the likelihood of another impulse to even higher levels is likely. With that being the case, I will not claim to know how much time is left, nor what the next levels will be only that we are signaling a Bearish Divergence and to trade accordingly.
Most estimates place the next high between .71 and .85. My suggestion, and what I am doing myself, is having XLM in hand and waiting for those levels, and staying in enough Fiat to buy in at a local bottom, or to keep out of the potential, violent, downswing that will occur like with every other top we have encountered. I am not a financial advisor so take this with a grain of salt!
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