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Sunday, October 17, 2021

XLMUSD Analysis Oct 17, 2021

XLMUSD Analysis Oct 17, 2021


We are looking for a swing trade so I will utilize the weekly and 4 hour timeframes to make my decisions. On the weekly timeframe we look for three things in particular which are our key levels, patterns and candlestick analysis. On the 4 hour timeframe we focus on using most of our technicals which is including fibonacci, support and resistance , supply and demand zones, market structure, candlestick analysis etc. On crypto we are looking at the Daily and 1 Hour timeframes to take trades when they are ready.

On the daily timeframe we are rejecting a key level of resistance as we need to get above the 0. 40 level in order to head higher. Price is in an uptrend but I will wait for price to get above this area before taking longs. There are a lock of wicks happening as resistance to this area so if price does start to breakdown on the H1 timeframe then we will go short.



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