PART 3 OF XLM ANALYSIS ! WHERE WILL IT GO AND WHAT CLUES DO WE HAVE ?
What's up trader's, investors and moon boyz. I waited to do a part 3 because I needed more confirmation to see where we are in wave (C). I was waiting for a rejection at the top of the triangle. A lot of people already had us breaking out of the triangle but volume says otherwise. Volume is everything and probably one of the best indicator's that one can use. I'm not gonna lie. This has been one tricky count to follow and I want to help you guys stay on top of things.
As per my last analysis I had us finishing the C wave and was looking for a retracement up to at least the .50 fib. We didn't get there, however if you bought at the time of the analysis you would have made some nice profits since we went to $.47. I also had us retracing to the $.35 area before we went up and there was another buy opportunity there as well. I don't have a crystal ball, but always want to keep you guys in the loop of the possibilities so you can capitalize or not get slaughtered. The triangle that I have drawn is the right triangle that you should be trading. There is a lot going on in my analysis and the chart. I have given you both scenario's as to what will happen with xlm. I don't make premature calls and try to look like a hero. It's not my style. I don't need gratitude and I can take corrective criticism. Now, if you don't know elliot wave or you don't know how wave (4's) can potentially play out than you wont understand my analysis. Take the time to read my chart and you will notice where the waves ended and have great advantage as to where XLM is going next. Think of a game plan for yourselves. All I want to do is help and share my knowledge with you guys. Crypto trading is tough enough and the moves can either happen very slow are be over in an instint. I'm leaning bearish right now, but I won't let my bias or emotion take over. I sold half of my position at $.44 and I'm closely watching to see if $.36 holds. I have my stop loss set slightly lower than that. If we do break to the downside, I don't see it being too violent. I have buy targets set from $.12- $.28 as I will dollar cost average with my profits from my last buy at $.30. Now, if this is bullish for the time being and this is a 1-2 or even A-B with a C wave up that can mean two things. As per my last analysis, I claimed that we are in a correction of an even larger correction. If we break out of the triangle, my first target will be $.49, then $.53. If we stop there, it will confirm my X wave with another ABC wave down to complete the whole correction of a WXY with a target of $.12. Now, let's not get ahead of ourselves. Remember, I don't have a crystal ball. The second thing that can happen, is that we have a wave 3 up to around $.65. If that happens, than our C wave finished at $.27.4 and we will break all time highs. These are just idea's guys and I hope they help you know what to expect. Drop a like if you want, but it's not necessary. Good luck guy's and remember to have your stop loss's set in case this thing drops into the abyss so you can gobble up bags of XLM. I wanna make BANK BRO!!!
What's up trader's, investors and moon boyz. I waited to do a part 3 because I needed more confirmation to see where we are in wave (C). I was waiting for a rejection at the top of the triangle. A lot of people already had us breaking out of the triangle but volume says otherwise. Volume is everything and probably one of the best indicator's that one can use. I'm not gonna lie. This has been one tricky count to follow and I want to help you guys stay on top of things.
As per my last analysis I had us finishing the C wave and was looking for a retracement up to at least the .50 fib. We didn't get there, however if you bought at the time of the analysis you would have made some nice profits since we went to $.47. I also had us retracing to the $.35 area before we went up and there was another buy opportunity there as well. I don't have a crystal ball, but always want to keep you guys in the loop of the possibilities so you can capitalize or not get slaughtered. The triangle that I have drawn is the right triangle that you should be trading. There is a lot going on in my analysis and the chart. I have given you both scenario's as to what will happen with xlm. I don't make premature calls and try to look like a hero. It's not my style. I don't need gratitude and I can take corrective criticism. Now, if you don't know elliot wave or you don't know how wave (4's) can potentially play out than you wont understand my analysis. Take the time to read my chart and you will notice where the waves ended and have great advantage as to where XLM is going next. Think of a game plan for yourselves. All I want to do is help and share my knowledge with you guys. Crypto trading is tough enough and the moves can either happen very slow are be over in an instint. I'm leaning bearish right now, but I won't let my bias or emotion take over. I sold half of my position at $.44 and I'm closely watching to see if $.36 holds. I have my stop loss set slightly lower than that. If we do break to the downside, I don't see it being too violent. I have buy targets set from $.12- $.28 as I will dollar cost average with my profits from my last buy at $.30. Now, if this is bullish for the time being and this is a 1-2 or even A-B with a C wave up that can mean two things. As per my last analysis, I claimed that we are in a correction of an even larger correction. If we break out of the triangle, my first target will be $.49, then $.53. If we stop there, it will confirm my X wave with another ABC wave down to complete the whole correction of a WXY with a target of $.12. Now, let's not get ahead of ourselves. Remember, I don't have a crystal ball. The second thing that can happen, is that we have a wave 3 up to around $.65. If that happens, than our C wave finished at $.27.4 and we will break all time highs. These are just idea's guys and I hope they help you know what to expect. Drop a like if you want, but it's not necessary. Good luck guy's and remember to have your stop loss's set in case this thing drops into the abyss so you can gobble up bags of XLM. I wanna make BANK BRO!!!
Comment:
We should have 1 more run up to the $.41- $42 area where we can determine XLM's destiny in the upcoming week or so. If we do and I don't see buy volume, I will dump my hole position. Of course I will confirm the rejection first. That run up could come now or after we drop to $.36 area. Now if we break the triangle to the downside first, there is a chance that the $.33 area holds to extend the triangle. $.33 will be the last holding point before we hit $.30, then $.27 and so on. I will be buying smaller amounts at these levels. I want it to drop further so I can keep dollar cost averaging. Again, not letting a bearish bias take over, and I'm Ok if we go up too.