Retracement completed. Short opportunity

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Retracement completed. Short opportunity
XLM / Dollar BITFINEX:XLMUSD
InvestingScope

Although the price didn't extend as low a 0.2154, the 4H Channel Down broke as expected to the upside ( STOCH = 67.110, RSI = 52.403), reaching (and breaking) the 0.50 Fibonacci retracement level at 0.2907. Since it found significant Resistance on the 0.618 Fibo at 0.31132 and was rejected, we expect a 2 week downtrend again (and potential Channel Down) below 0.2153. Three target sets: 0.27022, 0.2479 and 0.2153 where after hitting each, the SL will be placed on profit levels.

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