Hi dear patrons, hope you are well and welcome to the new update on Stellar (XLM) coin.
Previously we have seen that on a 2-day chart, the price action formed a harmonic Shark pattern:
But now it is behaving more likely to be a Cypher pattern than Shark, however, If you have bought it in the buying zone of Shark, then you can set you to sell targets more up accordingly. There is also 2-day 50 simple moving average support in buying zone.
Buy and sell targets:
Buy between: $0.4686 to $0.4126
Sell between: $0.5128 to $0.6187
Stop loss:
The maximum extent of potential reversal zone $0.4126 can be used as stop loss.
Possible profit and loss ratio:
As per the above targets, this trade has a big profit possibility of 49%, and the loss possibility is 12%.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.
Previously we have seen that on a 2-day chart, the price action formed a harmonic Shark pattern:
But now it is behaving more likely to be a Cypher pattern than Shark, however, If you have bought it in the buying zone of Shark, then you can set you to sell targets more up accordingly. There is also 2-day 50 simple moving average support in buying zone.
Buy and sell targets:
Buy between: $0.4686 to $0.4126
Sell between: $0.5128 to $0.6187
Stop loss:
The maximum extent of potential reversal zone $0.4126 can be used as stop loss.
Possible profit and loss ratio:
As per the above targets, this trade has a big profit possibility of 49%, and the loss possibility is 12%.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.