XLM/Stellar is showing a nice uptrend from the bottom. But I wouldn't buy here as I'm expecting a correction after hitting (3) in the blue target zone. Short term traders should wait for a pullback to 4 (exact area of bouncing can be determined later) for a next ride to the next blue target zone. Exact target (5) can be determined once leg 4 has been finished.
Targets are determined with Fibonacci extensions.
Happy trading!
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We missed the blue box by 4 sats. Now retracing, lets see where (4) will be placed for a bit more accurate target for leg 5. My bet is 745sat....but "trade what you see, not what you think"
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Retraced to the trendline as expected. Lets see if it can make the upmove to 5. I adjusted 4+5 a bit as i didn't expect such a fast retrace. I'm a bit worried about the current pattern on smaller timeframe which might be a bearflag alongside the blue trendline. So I'll give to 2 possibilities as update.
Don't forget: this first 5 legs up are just the first steps in a much bigger move!
Trade what you see, not what you think!
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So, 2nd chart it is.... Watch price action at the trendline if it goes further down or up again. Fibonacci show me possible towards 650 but we'll let the market decide
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Price found support and is on its way back up to 5. Which is just the first target ;-)
Targets calculated with fibonacci extensions.
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Stellar surprised me and made a bigger pullback. lets see if Fibonacci gives some support here
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And the downmove continues, although this could be an area for a breakout upwards.
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Expecting this move
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It made exactly the move I expected. Watch priceaction at the trendline, should bounce and break out but wait for strong green candle
@truongthanhlong174, just updated. Pls make sure you always have a plan when you enter a trade. That means a target, but also a stoploss. if you read back my updates, I wrote about my concerns for a deeper pullback so a SL should have been placed below the trendline.....