IS ELLIOT WAVE THEORY REAL? STELLAR LUMENS XLM

11 Nis 2023

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.

17 Ağu 2023

Not

The count for XLM so far. If it breaks the top of wave 1 its invalid.

19 Ağu 2023

Not

Still bullish here. Seems like a decent bounce.

19 Ağu 2023

Not

Lets see this progress.

20 Ağu 2023

Not

It seems to have played out but was expecting at least the 1 to 1 extension.

23 Ağu 2023

Not

Price went down to the 0.618 retrace. Lets see if this keeps going.

8 Eyl 2023

Not

That retrace went on for ages but I am still bullish on XLM here.

8 Eyl 2023

Not

Look at the monthly XLM/BTC chart

10 Eyl 2023

Not

Lets see If I am crazy, or not.

12 Eyl 2023

Not

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.

12 Eyl 2023

Not

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.