Stellar (XLMUSD) is going through an A-B-C correction. The correction looks like a Zig-zag correction which is a 5-3-5 wave design
Wave A - Went from $0.8 to $0.19
Wave B - Went from $0.19 to $0.44
Wave C - it's a 5 wave series and I think it will end up at $0.07-$0.06 zone before reversal
Stellar (XLMUSD) going to retrace to 88.6% or 94.1% correction TO $0.07-$0.06. We are presently at 78.6% FIB retracement, so the next best points are 88.6% and 94.1% and they are derived by the following formulae:
88.6% price level is derived by squaring (or multiplying by itself) from the Golden Ratio, 0.618:
0.618 x 0.618 = 0.786 (78.6%)
0.786 x 0.786 = 0.886 (88.6%)
0.886 x 0.886 = 0.941 (94.1%)
88.6% retracement price is $0.11
94.1% retracement price is $0.07
I believe Stellar (XLMUSD) will still be shorted and may find the reversal at that 94.1% zone because that's also a junction point where retracement of the whole five-wave series and the extension of the A-B-C meet
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Wave A - Went from $0.8 to $0.19
Wave B - Went from $0.19 to $0.44
Wave C - it's a 5 wave series and I think it will end up at $0.07-$0.06 zone before reversal
Stellar (XLMUSD) going to retrace to 88.6% or 94.1% correction TO $0.07-$0.06. We are presently at 78.6% FIB retracement, so the next best points are 88.6% and 94.1% and they are derived by the following formulae:
88.6% price level is derived by squaring (or multiplying by itself) from the Golden Ratio, 0.618:
0.618 x 0.618 = 0.786 (78.6%)
0.786 x 0.786 = 0.886 (88.6%)
0.886 x 0.886 = 0.941 (94.1%)
88.6% retracement price is $0.11
94.1% retracement price is $0.07
I believe Stellar (XLMUSD) will still be shorted and may find the reversal at that 94.1% zone because that's also a junction point where retracement of the whole five-wave series and the extension of the A-B-C meet
Please like and comment for feedback