XLM’s June 12, 2023 bullish OB continues to play a vital role as its price extends recovery for the second week.

As a result, my June 21’s long trade has exited in another loss after holding for 2 days and 21 hours:

https://www.finlogix.com/analysis/20240621/xlm-intraday-analysis-and-trading-plan-for-june-21-2024

A new overall record of 1 win and 5 losses.

The US is set to have 9 remaining high impact economic reports starting tomorrow after a weaker than expected ISM Manufacturing PMI result a few minutes ago.

The crypto markets in general including XLM continue to extend their weekly gains after Bitcoin’s surge above the 63000 level.

Re-assessing XLMUSD’s high timeframe candles:

Yearly Candle: Last check is a Red Semi Shaven Bottom now a Red Body with a Longer Head Wick

Monthly Candle: Previous close is a Red Body with a Longer Tail Wick current is a Small Green Doji

Weekly Candle: Previous close is a Green Long Lower Shadow current is a Green Semi Doji

Daily Candle: Previous close is a Green Spinning Top with a Slightly Longer Tail Wick current is a Green Long Upper Shadow

In today’s analysis, I adjust the retracement points of view using the June 20-24 swing high to low move.

These new retracements were formed after a bullish order block from June 12, 2023 continues to react as a buy zone.

With a strong rally from the crypto leader Bitcoin past the 63000 level, XLM’s upward price direction is more warranted.

A strong July opening just above the retracement points of view’s 61.80% level, both the 4H bearish OB and FVG I keep mentioning in my last analyses remain the targets.

I like to hold my view that XLM’s 2024 was in already.

A mini dip below the 61.80% fib retracement level is my next buy with the same take profit target towards the combined 4H FVG and OB territories.

The stop loss however is placed just a little below from the 38.20% fib level.

These are the new long orders that play this setup:

Note: Finlogix pricing is set from the ACY Securities price feed, with liquidity being sourced by top tier banks via ACY Connect.

With a massive 5.25 RRR, this trade plan is more than enough to nullify previous losses if successful.

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

XLM Intraday Analysis and Trading Plan For July 1, 2024

Jul 01 2024

Stop Loss -3.85%

Holding time 0hr

0.08520

Entry price

0.08192

Stop loss price

1