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Sunday, October 24, 2021

XLMUSD Analysis Oct 24, 2021

XLMUSD Analysis Oct 24, 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 weekly timeframe we are starting to see some nice rejection of the 0.400 level that we have marked up. If price manages to break this level it will certainly go much higher. But we are not expecting this as sellers are holding it at the moment.

On the h4 timeframe I have marked a resistance area that we may see hold here as we are making consecutive lower high points. If price breaks from here we can expect a move to the 0.31 level.

@everyone



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