Stellar Lumens (XLM) is taking the Triangle Road of Correction!! What does this mean? Check out this Analysis!
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SUMMARY
Stellar Lumens might be taking the Triangle Road of Correction rather than the deeper a,b,c zig zag or flat type. If you don't know what these types mean, please consider reviewin the free tutorial videos that can help you take the early stages of learning Technical Analysis. The tutorials are linked at the bottom of this blog.
The below chart is displaying an a,b,c,d,e triangle and it could represent a bit of a shortcut towards the $0.24 target. It appears as if waves a,b,c are complete and wave d is nearly so. That leaves wave e and if so, an impulse should take prices to the target price.
The XLM/BTC pair is sporting a Cup & Handle pattern. The handle portion seems perhaps nearing completion. That means and impulse move of five waves is next. Let's see what happens. Target is 0.0000470 BTC.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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Legal Mumbo Jumbo: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.**
yeit can explode but dont forget lisk:D haejin can you make a chart check for lisk thx:D
This triangle role will be our success.
Possibility?
Well done. I think all time new highs are likely.
Feel free to use my chart, thank you for the comment.
Awesome to be charting things yourself, it feels good when you get confirmation!
@haejin I am new to elliot waves and digging in to your tutorials. Could you possibly grade this chart for me? Thank you for your amazing blog!
Red circled 3 is too short. Not done yet. The long spikes need to be included in counts. Nice cup & handle. nice triangle
Hey thank you @haejin! I appreciate you taking the time to look at this! I did not know about the spikes yet. I look forward to learning more from you and your excellent tutorials.
Good work, keep it up.....eventually you'll be coming here just to compare your charts....that's a good place to be!
Thanks @scarlet7 for the encouragement!!
🌻 O'er the Moon and To the Stars @haejin 🚀
Haejin I've been away for ten days and I come back to find you are starting to blow up on here! Awesome, your hard work and diligence is really starting to pay off. Thanks for all the amazing tips and advice!
Looking forward to my first coaching session with Haejin lee, have been following predictions and like with all good business, its all about reinvesting that money back into the company, and training with the master will be an excellent investment for my profolio.
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STOPya back and forth motion make people double minded all is just a game its how it looks
Do you see Stellar Lumens hitting $1 or more by summer of next year?