Stellar Lumen (XLM) Analysis: Price, Pattern & Volume Point to an Upcoming Bullish Run

SUMMARY

Stellar Lumen (XLM) is providing a potential to capture the terminal end of a correction, which is the best time to cast an entry ladder. The chart below shows XLM having completed a five wave impulse (white). Elliott Waves states that after every five wave move, there is a requisite retracement. This corrective rerace can come as an abc zigzag, abc flat, traingle or complex combination. XLM has clearly selected the triangle motive. The abcde (red) waves are shown, each with its subwaves (white). So, what's next?

The below chart shows the next potential price move (blue line). A breakout from the triangle pattern would be quite bullish, especially given how proximal price is to the Apex; the point at which the two triangle lines intersect. Closer price is to the apex, more likely a price explosion is to occur. Target for wave 5 is $0.84 (168% profit potential). Timing would be from May to July of this year.

The MACD is also expected to curl upwards and generate a buy cross and both the 12/26 ma lines should go positive above the zero mark.

Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: 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.

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
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?

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