ya know, I drew mine a few days ago just like yours but now I am wondering if what I had as the top of 3rd was really the top of 5th.
Have you considered this possibility? That the 5th already happened and now were are in an abc or xyz corrective pattern and consolidation?
This has been kind driving me mad for a couple of days. I'm fairly new to drawing my own waves and using fibs... thought it was right but not so sure now.
Thoughts?
Rektitude
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@ABear, I think that definitely we reached end of Wave 5 and are in the middle of correction.
vanessa01
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@ABear@CryptoCobon hi XLM just dips further :( I have XLMs in place, should we Hold this long and eventually it'll bounce? What do you guys think? Is it still having a possible breakout?
ABear
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@vanessa01, I'm feeling that the very top was two things. 1. the top of Wave 1 and 2. the top of Wave 5 of the Sub Waves within that Main Wave 1.
This puts us in a corrective pattern for a spell... it might be Main Wave 2... and can be charted with the xyz correction models.
So, yes, regardless of how we counted and marked up the chart, as long as we see the top and the downtrend now, we should take heart that their is an upswing coming. Im labeling Main Wave 2 to the lowest point of the correction... and were waiting for Main wave 3 to develop.
Still, I'm not expert -and this is cryptocarbon's chart and post so I want to respect his work/share... we are mostely in agreement here and I hope we are both right:)
I am bullish on XLM. I'm holding all my XLM until at LEAST the former ATH and plan on holding past that and up into the .000075000 - .00009000 zone. Could take some time... another few days or another week, maybe.
good luck, all
ABear
vanessa01
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@ABear, ahh okay got it. thank you for your outlook! good luck to you too ya