Yes! Excited about Lumens - Elliot Wave Set Up & Analysis
Updated
Subjective:
I like Lumens b/c of it's story, team and goals. Per recounting of it's origin, it was created by people who disagreed with Ripple's core purpose. The team is partnering, marketing and has an accessible platform for developers who wish to advance Satoshi's ideals. I myself am interested in finding partners to help my team pursue our non-profit's work in South Sudan/Uganda by using it's platform (let me know if you're interested).
Objective:
I think that
XLM is going to begin a Elliot wave cycle 2 soon after analyzing the trend of the last big cycle. I've used 30 min bars to outline a trend that will play out on 4hr bars. I'm focused on:
a) end of wave 3 at approx 160% of wave 1
b) seeing the bounce of wave 4 off of the resistance line of wave 1
c) the wave 4->5 tranisition to catch the most amount of return. When we get there us a downtrending channel and find a bullish buy sign when a candle closes above it for a good buy signal.
d) tracking the FOMO/FUD activity and psychology of the market during this cycle.
See chart for technicals.
Remember that wave 3 is the home run, but it might not happen. If wave 4 happens then wave 5 is more likely to happen (though I'll be going conservative on goals).
Assessment & Plan:
Lumens is a successful coin, with a strong team, story, and a recent previous history of a successful Elliot wave cycle using 4 hr candles by hitting a core set of technical marks. This cycle could take upwards of 4 days to complete.
Profit taking:
- Minor profit taking at wave 3
- Major profit taking at wave 5
- I'll adjust my Make or Break (MOB) targets as needed.
- I've not included the oscillators, but should be used when we get closer to the wave 4. I'll use 5 & 35 period.
- Additionally I'll use moving average lines to analyze the break of wave 4 for the likelihood of wave 5 occuring. It'll be appropriate to a trailing set stop-loss at this time to avoid giving back profits.
Donations are very welcome and will be going into creating better content for you :) Anyone that donates >25$ and messages me with the exact info of the send, will get access to my weekly e-mail and early trade ideas. Or all you have to do is sign-up for Acorns, an awesome saving and investing app below for free and I'll ADD YOU TO MY MAILING LIST (no gimicks). Free, and we each get 5$ when you make you reach your first 5$ investment...see below.
BTC (CORE - not cash ): 18GHv9S7dzQwRwHzzYVpBies9U6SatQ5Yx
ETH: 0xaa7Da3E6df389FbB0995772D3B1fa6dbC416FEDd
LTC: LfwJxBJZ4imZJJhq8DDKgF84BfJfA6sTpY
BCH (CASH) : 1Fx4EukYA6ZXYb5VehUpwkzCeCz9MViNbf
XLM (Stellar Lumens): GB6YPGW5JFMMP2QB2USQ33EUWTXVL4ZT5ITUNCY3YKVWOJPP57CANOF3
Always remember to diversify. I'm using Acorns, and app on my phone that rounds up purchases and places the extra few cents into an index fund. The fees are low, and they provide you with all the necessary tax information. It's a great way to safe safely. I'm obsiously plugging this to get a referral bonus, but I'm deadly serious about it as a strategy. I've got a family and I want for very little else than to make sure we are safe financially.
acorns.com/invite/XBBWB6
Let me know if you used this code and the day you got your referral bonus. I'll add you to the
I always welcome feedback either in the comments or in dm's. I need your comments, especially if you are a seasoned trader b/c it'll make me better, and you can be assured that I'll pass it forward.
Media
Check out Coin Mastery TV on youtube for some great content. Yes! https://www.youtube.com/channel/UC4nXWTjZqK4bv7feoRntSog
Disclaimer: no one pays me to do anything here. I just want to become a good maven/teacher.
I like Lumens b/c of it's story, team and goals. Per recounting of it's origin, it was created by people who disagreed with Ripple's core purpose. The team is partnering, marketing and has an accessible platform for developers who wish to advance Satoshi's ideals. I myself am interested in finding partners to help my team pursue our non-profit's work in South Sudan/Uganda by using it's platform (let me know if you're interested).
Objective:
I think that
XLM is going to begin a Elliot wave cycle 2 soon after analyzing the trend of the last big cycle. I've used 30 min bars to outline a trend that will play out on 4hr bars. I'm focused on:a) end of wave 3 at approx 160% of wave 1
b) seeing the bounce of wave 4 off of the resistance line of wave 1
c) the wave 4->5 tranisition to catch the most amount of return. When we get there us a downtrending channel and find a bullish buy sign when a candle closes above it for a good buy signal.
d) tracking the FOMO/FUD activity and psychology of the market during this cycle.
See chart for technicals.
Remember that wave 3 is the home run, but it might not happen. If wave 4 happens then wave 5 is more likely to happen (though I'll be going conservative on goals).
Assessment & Plan:
Lumens is a successful coin, with a strong team, story, and a recent previous history of a successful Elliot wave cycle using 4 hr candles by hitting a core set of technical marks. This cycle could take upwards of 4 days to complete.
Profit taking:
- Minor profit taking at wave 3
- Major profit taking at wave 5
- I'll adjust my Make or Break (MOB) targets as needed.
- I've not included the oscillators, but should be used when we get closer to the wave 4. I'll use 5 & 35 period.
- Additionally I'll use moving average lines to analyze the break of wave 4 for the likelihood of wave 5 occuring. It'll be appropriate to a trailing set stop-loss at this time to avoid giving back profits.
Donations are very welcome and will be going into creating better content for you :) Anyone that donates >25$ and messages me with the exact info of the send, will get access to my weekly e-mail and early trade ideas. Or all you have to do is sign-up for Acorns, an awesome saving and investing app below for free and I'll ADD YOU TO MY MAILING LIST (no gimicks). Free, and we each get 5$ when you make you reach your first 5$ investment...see below.
BTC (CORE - not cash ): 18GHv9S7dzQwRwHzzYVpBies9U6SatQ5Yx
ETH: 0xaa7Da3E6df389FbB0995772D3B1fa6dbC416FEDd
LTC: LfwJxBJZ4imZJJhq8DDKgF84BfJfA6sTpY
BCH (CASH) : 1Fx4EukYA6ZXYb5VehUpwkzCeCz9MViNbf
XLM (Stellar Lumens): GB6YPGW5JFMMP2QB2USQ33EUWTXVL4ZT5ITUNCY3YKVWOJPP57CANOF3
Always remember to diversify. I'm using Acorns, and app on my phone that rounds up purchases and places the extra few cents into an index fund. The fees are low, and they provide you with all the necessary tax information. It's a great way to safe safely. I'm obsiously plugging this to get a referral bonus, but I'm deadly serious about it as a strategy. I've got a family and I want for very little else than to make sure we are safe financially.
acorns.com/invite/XBBWB6
Let me know if you used this code and the day you got your referral bonus. I'll add you to the
I always welcome feedback either in the comments or in dm's. I need your comments, especially if you are a seasoned trader b/c it'll make me better, and you can be assured that I'll pass it forward.
Media
Check out Coin Mastery TV on youtube for some great content. Yes! https://www.youtube.com/channel/UC4nXWTjZqK4bv7feoRntSog
Disclaimer: no one pays me to do anything here. I just want to become a good maven/teacher.
Note
The Elliot wave timeframe on the image isn't accurate. It might take 4.5x as long as the last large Elliot wave took.Note
Well, here we are at another critical junction. My prediction here is that wave 2 is going to bounce at 50% or 65% retracement. A few updates:
Positives:
1. John M posted Lumens as the "Coin of the Week Today". I have no idea what this really means anymore, and if this is going to hurt or help our cause here.
2. Additionally, our wave 2 is approaching a critical point which aligns with the commodity channel index's (CCI, an index of the volume and rate of the market) approach to the 0 mark on the daily. If it passes and continues on towards -100 and -200 then I will announce a bearish move here, and an end to this trade. Check back on that soon.
3. We are still above the 0 on the CCI ( a fine place to be) , we are above the 50 simple moving average (bullish market), and the Relative Strength Index (on 5 period) is still >50 which means that this is a buying market.
4. Lumens is the 8th most talked about coin on social media today.
Potential negatives: Ripple, a coin widely associated (with I think incorrect association) with the price of stellar lumens is in the dumps. It's on the other side of all the items I listed above.
Good luck out there, and I'm happy to welcome the first members of my newsletter! Thanks for joining, and spreading the word.
Note
ssessment: Bearish # SMA 50 on the daily are bearish
# CCI & RSI are indicating strength in a downward trend.
# Expecting support at low 3100 levels
Plan: Do nothing today
- Hodl or buy with reseve
- Plan for bearish market
- Call Chinese officials and tell them to lighten up
- Get ready for next week's news-letter
great review of strategy on days like today:
bbc.com/news/technology-42689642
Disclaimer
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