Channel Down emerging. Short opportunity
XLM / Dollar BITFINEX:XLMUSD
The price is already reversing lower into an emergin 4H Channel Down ( RSI = 45.408, Highs/Lows = -0.0014, B/BP = -0.0093) although the process develops more slowly than we expected. The patterns however seem to be replicating themselves on 1D ( MACD = -0.014). Since the Resistance on the 0.618 Fibo at 0.31132 is still intact, Lower High should be forming next on 4H all the way to 0.2153. TP set intact: 0.27022, 0.2479 and 0.2153 (after each hit, the SL will be moved lower on profit levels).