Long position remains.
Confirmed, we are on a 4 day+ run.
XLM broke above our gold resistance line of $.40, which was the .702 Fib. BUT not only did it break above that, it also broke above the .786 Fib, which to me indicates that we are going to be on a slow climb to...possibly...a new high.
I'm setting my short position for the .786 FIB on the previous cycle.
Most importantly, because we are in a bull cycle, I'm placing my short position at 5% +/-. Just in case we break higher, I won't lose too much in my trading bag.
Please advise for further clarification.
Happy trading my friends.
NOT FINANCIAL ADVICE
Confirmed, we are on a 4 day+ run.
XLM broke above our gold resistance line of $.40, which was the .702 Fib. BUT not only did it break above that, it also broke above the .786 Fib, which to me indicates that we are going to be on a slow climb to...possibly...a new high.
I'm setting my short position for the .786 FIB on the previous cycle.
Most importantly, because we are in a bull cycle, I'm placing my short position at 5% +/-. Just in case we break higher, I won't lose too much in my trading bag.
Please advise for further clarification.
Happy trading my friends.
NOT FINANCIAL ADVICE
