The big news breaks later today, and as always I'm planning on selling beforehand. However, there is a good buying opportunity currently. XLM has beatifully followed Elliott Wave theory, and I believe the 5th (and typically most powerful) wave is coming up very soon. I do plan to exit my position completely somewhere along this wave though.
Based on the previous Elliott wave pattern, I predict a good exit to be around 1400-1500 sat range. Only time will tell what happens, though.
Based on the previous Elliott wave pattern, I predict a good exit to be around 1400-1500 sat range. Only time will tell what happens, though.
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Wow, in the time it took me to post this, XLM launched up to 1430 sats and is still climbing. I'm adjusting my target to 1650 sats, but will be taking some profits on the way up.Note
Just noticed something potentially big for XLM.If it dumps on the news like I'm predicting, that will create a nice 4 wave for us, which could lead into an absolutely monstrous 5 wave. Buckle up, kids.
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Post Mortem:XLM ran out of steam on the 5 wave and crashed back down to around 1k sats.
During the actual conference, it pumped 40%, reaching 1447 and double topping at that price. I'd look to pick up more XLM as a longer-term hold much lower than 1k sat, potentially down to 700 range, depending on what happens next.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.