Stellar XLM: wait for correction before buying

已更新

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.