XLMUSD bullish Gartley flashed at the support of SMAs and EMAs
Support and resistance levels and SMAs:
On daily time frame, the price action of Stellar is moving between the $0.33 to $0.20 support and resistance zone. In the meanwhile priceline of XLM is still moving above simple moving averages with the time period of 25, 50,100 and , 200. At the moment it is re-testing 25 SMA as support.
Daily EMA :
If we take a look at the 21 exponential moving average on daily chart, then the price line of XLM is re-testing this EMA as a support with a powerful bearish candlestick.
Gartley move:
While re-testing the EMA on weekly chart, the price action has also formed a bullish Gartley move.
Conclusion:
On the daily time frame chart, the price action is at the supports of 21 exponential moving average and 25 simple moving average. But the harmonic Gartley pattern is flashed at the right time. This harmonic move can be really very helpful to save these supports and for the continuation of the bullish rally as well.
On daily time frame, the price action of Stellar is moving between the $0.33 to $0.20 support and resistance zone. In the meanwhile priceline of XLM is still moving above simple moving averages with the time period of 25, 50,100 and , 200. At the moment it is re-testing 25 SMA as support.
Daily EMA :
If we take a look at the 21 exponential moving average on daily chart, then the price line of XLM is re-testing this EMA as a support with a powerful bearish candlestick.
Gartley move:
While re-testing the EMA on weekly chart, the price action has also formed a bullish Gartley move.
Conclusion:
On the daily time frame chart, the price action is at the supports of 21 exponential moving average and 25 simple moving average. But the harmonic Gartley pattern is flashed at the right time. This harmonic move can be really very helpful to save these supports and for the continuation of the bullish rally as well.
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