What's up traders, investors and delusional moon boyz. Here is an update on XLM. So far this wave 2 is playing out like it should. I'm giving you guys a warning now to pay attention and see if wave 2 ended early. It didn't even go to the .38 fib level and that is very weird. This correction is called a bearish zigzag with waves 3,4,5 ending in a diagonal where wave 5 is very short. Now, I'm speaking in bearish terms right now. We don't have full confirmation on anything yet. I have closed my 40,000 xlm position in profit from my buy at $32.8. I closed 20,000 at $.35 and the other 20,000 breaking even with the fees. I don't like what I'm seeing and I will re open a long if we break $.34 area. Until then, I am waiting to see if we are finishing the B wave with a C wave up to ($.38 range)of wave 2 of 3 down. Again, I'm speaking in bearish terms. I didn't post a bullish chart because there was no need to at this moment in time. I've been doing a lot of research to see where we are since XLM was 0(zero) and what degree wave we are in. This may sound weird but it's possible that we have just started wave 5 of the super cycle degree back when XLM was $.026. Yes that was wave 4 ending at $.026 that ended which overlapped wave 1 and when the big picture is painted this will all be a huge ending diagonal. Another count on the 4hr shows us only finishing wave 1 of the primary degree. either way, the ultimate road for XLM is bright and we are in buy zones right now. 5 years from now, it won't matter if you bought at $.30 or $.18. Now, as of now, there still is an outside chance that this becomes bullish in the short term. I remember a time when Ethereum was $127 and I had gobbled up 84 eth at $92 and it was in the same pattern at this. it shot up to the $180's and retraced into the $127 range and everyone was calling for $62. Everyone!!!! We shot up and never looked back. Let's be smart and careful here on XLM. I will post more views on XLM when I get more confirmation on things. Happy trading and good luck guys!!
Comment:
Wave 3 up of the C wave up of wave 2 of wave 3 down is underway to $.36 or more. I reopened my position strong at $.312 with another 40000 Xlm purchase! Wish me luck!! Stop set at $.29, however I’ll know if this goes south much sooner than that!
Comment:
So, looks like wave 2 ended early. I am about to get stopped out at $.29. Everything was pointing to a wave 2 up. Yes...I was wrong and i'm sorry. Nobody got hurt and if $.29 holds great. Be on the lookout for more lows. I will have an updated analysis soon.