IS ELLIOT WAVE THEORY REAL? STELLAR LUMENS XLM
Hello Traders,
Here is the monthly chart of Stellar Lumens looking at this purely from an Elliott Wave perspective. I know little about the technical details of the protocol/token etc.
From an EW perspective price looks to be inside a bullish wave 3 with the target at the 1.618 extension.
Lets see what happens.
Here is the monthly chart of Stellar Lumens looking at this purely from an Elliott Wave perspective. I know little about the technical details of the protocol/token etc.
From an EW perspective price looks to be inside a bullish wave 3 with the target at the 1.618 extension.
Lets see what happens.
Nota
The count for XLM so far. If it breaks the top of wave 1 its invalid.Nota
Still bullish here. Seems like a decent bounce. Nota
Lets see this progress.Nota
It seems to have played out but was expecting at least the 1 to 1 extension. Nota
Price went down to the 0.618 retrace. Lets see if this keeps going.Nota
That retrace went on for ages but I am still bullish on XLM here.Nota
Look at the monthly XLM/BTC chartNota
Lets see If I am crazy, or not. Nota
That inverted H+S structure has become invalid as the price did not break the neckline cleanly to the upside. The daily 50MA is also acting as a resistance. Price needs to finish correcting here and make another HL to remain bullish or I think this idea is over. Nota
Its conflicting because I am bearish on a load of other alts but for some reason I think XLM will break the mould and separate from the rest of the alts . Look at my current LTC and THETA ideas for reference.
Penafian
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