TradingView
Tolberti
Jul 12, 2022 1:47 PM

Stellar XLM - Prepare your buy orders! + 0.618 FIB + Wedge Long

Stellar / TetherUSBinance

Description

  • XLM is very close to the 0.618 FIB retracement of the huge Impulse wave from 2020-2021.
  • Also the price is close to a massive horizontal support line from 2020.
  • I expect last wave to the downside to finish this downtrend and then I can see at least a retracement back to 0.25 USD.
  • As per my Elliott wave analysis - an impulse wave to the downside is almost completed as you can see.
  • If we take a look at the volume indicator, we can see there is absolutely no bearish pressure, which is always great to see.
  • On the weekly chart we can spot a falling wedge - bullish reversal pattern and the price is currently near the support line.
  • You can set a limit order to buy XLM at 0.0888 USD if you want to speculate on this move.
  • Look at my ideas about interesting altcoins in the related section down below ↓
  • For more ideas please hit "Like" & "Follow"!
Comments
MynameisTeo
if is 5 circle yellow( the big one) is done at 0.088 area that mean is just A , and abc for B, and 5 down for C. THIS is what your count tell us. WHAT if your big 1 is just A, your 2 it's a B and now it's C?
Tolberti
@MynameisTeo, If we are now in big C wave ZigZag, we still need another impulse wave to complete. Like this:

Tolberti
Post your questions, comments and related ideas about XLM here.
More