aamonkey
Long

Is XLM about to moon?

BITFINEX:XLMUSD   XLM / Dollar
In my opinion we just finished the 1 wave of the next bullish move.

In the shortterm I expect XLM to retrace a little before we launch again.

Therefore, I advice you not to buy in right now but wait for a retracement and then buy back in.
Comment: The expected retracement:
Comment: So far everything unfolds as expected.

This is how I trade this move:

I have 3 orders at price levels where I think we will bounce (.618, .786, .88 Fibs).

With .618 Fib being the most likely of them all.

The last order at .88 is just a fishing order to get the coin at the lowest point but I don't expect it to retrace that far.

I will take 50% (of my holdings) from the table when we reach the first green box.

I think we will bounce back a little from this resistance.

And the rest I will sell once we reached the second green box.

Comment: This subwave count shows what price movement I expect.
Comment: We bounced right of the fib ;) 11% profits so far. Good job to anyone who took action as well.
Since the Lower High was within the 0.681 - 0.786 (0.2337 - 0.3143) Fibonacci retracement zone, we expect the price to make an equally quick technical gap fill on 1D to 0.1930:

Reply
Nice chart, seems to play as you thought so far. You should update it.
Thanks.
Reply
@tvial, Thank you. You are right here is my update.
Reply
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