XLMUSD - 4H - Cup & Handle OR Trendline break?

NOT A FINANCIAL ADVISOR!!!!

I am 50:50 here!! :)
Therefore I have Bullish and a Bearish Scenario.

Bullish Scenario:
- I see a possible Cup and Handle formation.
As the Cup is not perfectly formed, the target is not that clear but I would expect somewhere around the 26-28 cts.

Bearish Scenario:
- In case the trendline and the RSI breaks down ... uhmmm then I must say that the double top scenario is validated!

Strategy: using a Breakout strategy - breaking above 21.5 cts => higher probability to go higher (26-28 cts)
- breaking below trendline => higher probability to drop to the neckline 15.3
- breaking below 15.3 cts => higher probability to go even lower (8-11cts)

Do your own risk analysis.

(Good luck!)

Commentaire:

Just 2 updates here:

1) You can see a second trendline that might play some role here => at least it was relevant to define the low for the "Cup".
2) Do check the indicators: Stoch RSI is about to become bullish and until RSI 4h is above support. I do have some issues with the RSI Daily!

Commentaire:

Careful here!

Trade fermée: ordre d’arrêt atteint

Commentaire:

Do note that 0.21 level didn't break higher.
XLMUSD broke the trendline and the cup's low (&& BTCUSD selloff) leading to some red candles being painted.
I see a possibility for a reversal at this point and prices not reaching as low as previously stated (15 cts)...we will see!
BUT the range 15-21 cts is still in play! Meaning, a drop below 15 might lead to a sharp sell off to 11, while above 21 might lead to 26-28.