Gmanns777

Lumen: 2 Butterflies 1 Chart

KRAKEN:XLMXBT   XLM / XBT
In this video I 1st show you a very clean / text book BUTTERFLY pattern which is currently doing very well. I use market symmetry to try and work out where price might get to before turning around.

When I did that it looked like price might be heading up to the 78.6% fib level which also happens to be almost exactly the XA leg of the bullish BUTTERFLY .

Then I project a little bit, and I use 78.6% as B in what seems to be a newly forming BUTTERFLY . In the video I suggest where C might form up and if it does where price could go, hint 1.272 / 1.681 ext.

I will update if / when C actually forms up, at that point we can start to look at entry, stop etc.
Comment: Its possible that XLM is making B at 61.8 (also R3 weekly with missed central pivot below) if that's the case C would be either central pivot or it might go a little lower e.g. to .236 fib level.

If those two things play out then CD leg will end at 78.6% fib level to complete a Gartley. Lets see what this week brings.

Comment: looks like B is going to be the 61.8 fib level which means C will be somewhere around 0.236 fib level.


assuming it gets there i will look for an oppertuntiy to trade the C D leg up to 78.6
Comment: it looks like price has FINALLYYYYYYY found B, this time at 78.6 and is now heading down to what C


I will update once I figure out where C is likely to be.

Good news for all the LUMEN heads out there :D
Comment: move down to C continues :D

Comments

XBT is just used by some sites.. so they have a general index of BTC price pulled from 1 to 3 exchanges. The logic is probably behind volatility and or flash crashes. Manipulation of BTC has happened a lot on BTC as you probably know. Kraken is not that good and suffered quite some issues trading against btc.
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Gmanns777 bloodleach
@bloodleach, Hi there, i wasn't aware of that but its an interesting point... thanks for sharing :)
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bloodleach Gmanns777
@Gmanns777, your welcome
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