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.
Komen:
The count for XLM so far. If it breaks the top of wave 1 its invalid.
Komen:
Still bullish here. Seems like a decent bounce.
Komen:
Lets see this progress.
Komen:
It seems to have played out but was expecting at least the 1 to 1 extension.
Komen:
Price went down to the 0.618 retrace. Lets see if this keeps going.
Komen:
That retrace went on for ages but I am still bullish on XLM here.
Komen:
Look at the monthly XLM/BTC chart
Komen:
Lets see If I am crazy, or not.
Komen:
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.
Komen:
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.