Rejected on Fibonacci Retracement. Strong short.

27 Jul 2018

Stellar has followed the Fibonacci pattern modeled after Bitcoin recent retracements as it was rejected on the 0.618 (0.3534) level. As expected the previously overbought 4H/ 1D strength index weighed on therejection. The price is already on the 2nd straight bearish 1D candle and we are still shorting XLMUSD on every retracement. 4H is now neutral (RSI = 50.739) but on early bearish indicators (Highs/Lows = -0.0016, B/BP = -0.0057) calling for a MA100 test = 0.26288 - 0.24744. Shorting again, TP = 0.21987.