XLMUSDT Daily S/R|200 EMA S/R| Price Action

13 במאי 2021

Evening Traders,

Today’s analysis – XLMUSDT – trading above its Daily S/R where a respect is probable,

Points to consider,
- Price Action impulse
- Daily S/R Support
- Swing High Objective
- 200 EMA Confluence

XLMUSDT’s immediate price action is impulsive, respecting its Daily S/R that has technical confluence allows for a long bias.

The immediate objective is the swing high; exceeding this level increases the probability of a trend continuation.

The current volume profile is on an increase; follow through it critical for sustained momentum.

Overall, in my opinion, XLMUSDT is a valid long with defined risk, price action is to be used upon discretion/ management.

Hope this analysis helps

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And remember,

“You have power over how you'll respond to uncertainty.” ― Yvan Byeajee