XLM - Minor Retrace Before BIG Breakout

Mar 9, 2021

XLM seems to be gearing up for its next break on the uptrend. It is holding the 0.786 fib level as support while the 8/1 line on the gib fan is current resistance. I think at the moment XLM does not have enough momentum to break through support and will retrace to the 0.786 fib level before it breaks above the 8/1 line and can turn it into support, and if it does, that will be confirmation of the start of XLM’s next move to the upside. However, If XLM has a daily candle close on or below the 0.785 fib level, I will expect more moves to the downside.


I wish you all prosperous and happy trading!!:)

Mar 9, 2021

Note

Ignore the 2 angle lines. I forgot to delete them

Mar 10, 2021

Note

hahaha I just realized I typed 'gib' instead of 'gann'

fib + gann = gib

Mar 14, 2021

Note

XLM is retesting testing the 0.786 fib level - so far looking good