If you look at the chart I have plotted out 3 different trajectories of XLM if it follows through with the H&S trend using the magnitudes of the Head, from the neckline, Left should and the neckline, and the Head to the right shoulder as a "worst case" scenario, assuming of course that it completes the pattern and reverse trends in the first place. H&S, or Head and Shoulders for those that aren't familiar with the strategy name, is one of the more reliable patterns in trading, but like with anything, crypto LOVES to defy the norm, more often than typical "trade patterns" would suggest. So please take this with a grain of salt.
I am assuming a midrange of .24 and have placed my buys accordingly, what about you?
I am assuming a midrange of .24 and have placed my buys accordingly, what about you?
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Well as we saw this morning, when I was asleep no less... the neckline was completed but FOMO is incredibly high and the willingness to buy in at these levels are still holding strong. However, long term signals are definitely pointing to a correction, so HODL, or wait to buy in respectively!