XLMUSD Analysis Jan 30, 2022

We are looking for a swing trade so I will utilize the weekly and 4 hour timeframes to make my decisions. On the weekly timeframe we look for three things in particular which are our key levels, patterns and candlestick analysis. On the 4 hour timeframe we focus on using most of our technicals which is including fibonacci, support and resistance , supply and demand zones, market structure, candlestick analysis etc. On crypto we are looking at the Daily and 1 Hour timeframes to take trades when they are ready.

On the weekly timeframe we can see that price is holding fiorm at the .20 level. Once we see a reversal from this area that breaks the .28 mark we will be bullsihing. until then we should wait for a break of 0.20 and continue to short this pair.