Hey there guys its Brian here. Currently XLM is gonna reach support level soon on the daily chart. Not yet a good time to buy in but once we start to see it get into the oversold territory then it could possibly bounce off from there. We are going to want to see XLM bouncing off the support and potentially buying in there with stop loss below the support and if it starts to make higher lows, it could be a very good buy.
I use rsi as an indicator as well. Unfortunately I jumped the gun here and didn't wait until it crossed oversold on the daily. I still think this will be a profitable trade eventually but Lesson learned!
BrianChai
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@moarbtc, Its really just a matter of preference. Since this is the daily time frame here, might have to wait a bit before we start to see some upside. On the bright side if you have already entered into the trade, at least you won't miss out when it goes up