Hi guys,
Quick XLM analysis/update.
Elliot Wave ABC correction currently underway. Based on XLM’s overall fib retracement history, it seems to be quite apparent that XLM will see a retracement to 61.8% fib level in relation to previous impulse. This coincides with EMA55, EMA200 and happens at the end of a 5-month long triangle formation. In order to succeed in reaching targets (below), XLM must break-out of triangle ceiling, if it fails to do this and instead kisses the upper triangle resistance we will see further retracement to 78.6% fib level. This "could" stir up some trouble for XLM as 78.6% fib retracement could potentially mean breaking the support of the triangle and seeing lower-lows. However, this is not a likely scenario, as the market as a whole has been showing signs of improvement and bullish sentiment from investors. So far any, and every correction since the turn has been perfectly aligned with a standard bull market.
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only. it should not be considered financial advice***
Quick XLM analysis/update.
Elliot Wave ABC correction currently underway. Based on XLM’s overall fib retracement history, it seems to be quite apparent that XLM will see a retracement to 61.8% fib level in relation to previous impulse. This coincides with EMA55, EMA200 and happens at the end of a 5-month long triangle formation. In order to succeed in reaching targets (below), XLM must break-out of triangle ceiling, if it fails to do this and instead kisses the upper triangle resistance we will see further retracement to 78.6% fib level. This "could" stir up some trouble for XLM as 78.6% fib retracement could potentially mean breaking the support of the triangle and seeing lower-lows. However, this is not a likely scenario, as the market as a whole has been showing signs of improvement and bullish sentiment from investors. So far any, and every correction since the turn has been perfectly aligned with a standard bull market.
- Buy-In range = .00003250-.00003500
Target #1 = .00004726
Target #2 = .00005100
Target #3 = .00005650
Stop Loss = .00002920
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only. it should not be considered financial advice***
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.