thomas58700
Long

XLM BULL Run: 5th Elliott Wave After ABC Correction

BITTREX:XLMBTC   Lumen / Bitcoin
XLM             has a strong long term potential and I've previously recommended it as a long term hold. We are now approaching the 5th wave which also corresponds with the 1.618 fib level as shown the chart above. The tip of the wave represents the highest peak; selling before the peak is recommended to secure a profit or setting a sell under the high is also wise. If it makes its way to that high then 8000 sat is a good point I would aim to sell before the correction so you don't miss out due to a volatile market. We are now finished with the ABC correction and xlm             is following through with its horizontal oscillations as seen in previous highs. After the 5th Elliott wave we may not see this horizontal oscillation again for some time and it is not recommended to hold through the drop. XLM             is still a good long term hold, but if you want to maximize your profits moving into another coin after would be a better bet then wait for xlm             to correct to buy back in.

Attempting to see if it will follow the fib levels projected as an experiment, but it should still arrive at the 8000 sat level regardless.
Kommentar: (It won't move in a linear fashion)
Trade ist aktiv: Low buy in point of 3660; once ETH corrects from its run we could be seeing XLM begin to rise
Trade ist aktiv: Base of Elliot wave point #4 on the graph should've been at 3500, therefore, I'm thinking a high of 6600 is more reasonable.
Kommentar: Still on its way up, should be seeing more consistent gains
what do you think about fairx.io ? couuldnt that effect the price more?

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@yepberg, I'm not sure why that would effect the price of XLM..?
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simisatoshi thomas58700
@thomas58700, Still bullish on that one?
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thomas58700 simisatoshi
@simisatoshi, XLM should've switched to an uptrend now, yes.
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thx maaaan
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Thanks so much for your analysis!
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news on this :D :D
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THis is NOT Elliot Wave.
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@tommix, If you remove the weird looking 1 and 2 I placed generating your negative reaction to the chart you'll see that it doesn't matter weather or not I follow the textbook definition of an Elliott wave. It will follow this pattern anyway (Replace 3 with 1, 4 with 2, 5 with 3 and then you're missing the last wave).
+1 Antworten
ABear thomas58700
@thomas58700, U said "Replace 3 with 1, 4 with 2, 5 with 3 and then you're missing the last wave)." That is how I drew it and I agree. And really, it just doesn't matter exactly as you said... in fact, we could call ALL of your original 1-5 as Wave 1... which is legit too, in my view. Catching the next Impulse is the key... and seeing several versions/drawings of this same chart actually HELPS in formulating my own understanding and preference for drawing. So, thanks for your work and share. Cheers.
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