As XLM plunged deeper away from the 4H bearish FVG and OB mentioned on Monday, a bullish OB formed last June 12, 2023 came to the rescue.

As a result, my June 17’s long trade has exited in another loss after holding for 11 hours:

https://www.finlogix.com/analysis/20240617/xlm-intraday-analysis-and-trading-plan-for-june-17-2024

A new overall record of 1 win and 4 losses.

The US is set to have 2 remaining high impact economic reports this Friday evening.

The crypto markets in general including XLM continue to recover towards the weekend after intraweek’s fall out.

Re-assessing XLMUSD’s high timeframe candles:

Yearly Candle: Last check is a Red Long Upper Shadow now a Red Semi Shaven Bottom

Monthly Candle: Still a Red Body with a Longer Tail Wick

Weekly Candle: Last check is a Red Long Lower Shadow now a Red Hanging Man

Daily Candle: Previous close is a Green Long Upper Shadow current is a Red Long Lower Shadow

Note: I’m using Tradingview.com under the XLMUSD pair in Bitstamp Exchange to thoroughly re-assess these high timeframe candles.

In today’s analysis, I adjust the retracement points of view using the June 17-18 swing high to low move.

These new retracements were formed after a bullish order block from June 12, 2023 offered support.

Zooming out on the daily view, this week’s dips became a flipped S/R area into an order block support level based on the bullish breakaway gaps that started in June 15, 2023 then lead XLM’s price rising towards the 0.19-0.20 levels.

As long as price stays above or within 50% of the July 12, 2023 OB area, a reverse move to the upside can be expected.

Otherwise, this week’s lows will be retested or may break down for even new lower lows.

After losing again in my previous long attempt, I still go for a new one with the same profit target towards the combined 4H FVG and OB territories through entering at the current 4H candle with a stop loss set within July 12, 2023 OB’s 60% area only.

These are the new long orders that will illustrate this analysis:

Note: Different liquidity providers may have set their prices differently compared to Finlogix. Adjust accordingly.

Let’s see how this one goes and good luck.

All trade ideas I share are my own views and for my own trades only.

Copy trading and trading directly involve risks.

XLM Intraday Analysis and Trading Plan For June 21, 2024

Jun 21 2024

1