XLM is a good project with an actual use case that hasn't pumped in a while. It isn't close to its all time high in Satoshi's, and I think we have a potential long opportunity if XLM breaks out of this pattern to copy a similar pattern which many mooning alts have followed lately (Look at XRP as an example).
On a clear confirmation of break out I will go long and I will start taking profits incrementally around 1600 (target is your call, personally I will try not to be greedy). Stop loss on red line or your own risk tolerance.
I appreciate any feedback as I am new to TA and trading.
Kommentar
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I missed the breakout :( Took too long to transfer between exchanges and breakout came slightly earlier than expected.
If I learn from my mistake then it was worth it. Hope you all caught this trade!
By the way, I think XLM will be one of the best holds of 2018
hi, do you have a target in which the top of this breakout (if it will be)? Thanks!
cryptyx
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Nice call...set stop loss at 1600. Onward and upward for 2018!
cryptyx
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...and I might add...we could very reach that before then. ;)
joeyd626
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@cryptyx, Early January. Fairx.oi exchange announcement.
XLM is going to fly.
cryptyx
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@joeyd626, I never understood why people wouldn't buy ripple and stellar. The fact that they're considered "bankster coins" is all the insider info one would need to at least take a chance on them. Their existence on the top end of the volume charts over the years makes them among the more obvious picks of the litter.
joeyd626
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@cryptyx, I don't trust Ripple. Jed Mccalub made it better in XLM. Stellar has the potential to be huge. As soon as IBM got partnered, I started watching closely. I mean...I.....B......M. People seem to forget that name for some reason and the fact they run 90% of the ATM's around the world. ;)
cryptyx
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@joeyd626, One of the things I wrapped my brain around when first hearing of bitcoin (after Goxx) was the term "trustless" and I've come to see this whole thing as nothing more than a money making opportunity.
Don't get me wrong, I appreciate that this is disruptive tech and that some will be around long after I'm gone, it's just hard to know which ones. So I carry no loyalty to any but the reigning King of the cryptosphere. I don't think in fiat as I have no intention of cashing out anything...ever. I expect I'll use the new tech eventually and you're right, I may very well be using Stellar to buy my beer and pizza, gas and fish bait. Then again it might be Ripple...then again it could be Bytecoin.
The second thing I learned was nobody really knows where this is all going. Ripple has the marketing, Stellar has much more potential to perform many more real world applications than Ripple...but I read the charts and listen to the noise on it all. When the squeeze is on I margin to the trend.
Up, down, all around...my current aim is to stack sats and that's all I hold long term.
Didn't intend to share so much...hope it helps someone improve their situation. Sometimes a loss is a gain...my third and likely most important trading lesson in this market.
joeyd626
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@cryptyx, Good words. I couldn't agree more. Have a Happy New Year and all the best.