Hello traders, trolls and delusional moon boyz! I've been promising some realistic analysis on XLM due to a situation that has occured. I've recently been called a troll by a fellow trading view person, won't even call him an analyst for pointing out that his analysis was not only way off, but flat out delusional. This person doesn't like when you voice your opinion. What started out as nice corrective criticism has turned into a tradingview feud with name calling, troll calling, character insulting among other things. Sword of like a bunch of 12 year olds fighting by the playground. This person was so sure about his analysis, telling people that XLM was going to $50 by January and that anyone who had an opinion against his claims was basically a troll. I've been called a miserable old man with his fist in the air, told that I'm confused and watch his videos to get advice from him because I have no idea what's going on. He laughs at people that use elliot wave and you can hear the arrogance in his voice. In his eyes, he thinks his way is the only way. He measures waves on a log scale rather than a linear scale. LOL.. He trolls through my profile and thinks because I don't have a ton of followers or haven't posted in a year that I have no idea what I'm talking about. Well see about that! Can anyone guess who this person might be?
O.K , enough of the nonsense! Here is a series of REAL XLM analysis that I will be posting. Realistic analysis that will keep you in the loop at all times.
Steps to making money!!
1. You have to walk before you can run 2. Always have a plan. Bullish or bearish and never guess or dream. 3. Dollar cost average on entries and exits 4. Always have a favorable risk to reward. 5. Be patient 6. Don't be afraid of being wrong or loosing money. Limit your losses
Now onto XLM . As we can see here, we finished our 5 waves up. I've only labeled the chart so you guys can understand where we are. I didn't label every single wave. A.W says elliot wave doesn't work and fibonacci retracement is a joke and I'm saying otherwise. This my analysis. I noticed a double top forming at $.80 and had a feeling that we were finished with our five waves. VOLUME ... VOLUME ...VOLUME!! While delusional others were calling for the moon, I noticed a huge ascending wedge forming. If you look at my pitchfork you will see that we have been trading in that channel since we broke out to the upside from $.34 back when we traded sideways for almost 2 months. People saying that we were in wave 3 and heading to $5, $50 and I even heard 160..OMFG. No people, no way! This is not wave 3 volume . We never had wave 3 volume . When 5 waves are done in a trend, I don't care how high or low it could go. I'm looking for a trend change. Boy did we get it. I was able to dump my xlm when we broke the ascending wedge . It wasn't hard, anyone with half a brain knew we were heading to $.48 or lower. $.48 is a key price in this whole scheme of things. Why? It's because $.48 is the very bottom of support within my pitchfork channel. Geez, we busted through it like butter. $.30 was a measured move on the break of the ascending wedge . The moon boyz had stopped off at Pluto to buy some red bull and didn't even see this. AW had his head up his ass, as was too busy fighting off all the trolls defending his bullshit analysis. 100% was lost had you followed certain people. Well, I'm here to put an end to this bullshit and give you guys the truth. It's all free, hit the like button if you want, I really don't care. This is only a taste of what's to come. I will keep it simple and we will be ready for what's to come. I don't give buy or sell signals. I will only guide you guys in the right direction and from time to time tell you what I'm doing. Look at the chart. see where we are and I'm sure you will all make great decisions. Part 2 of series coming!!! Have a great day guys and set your stop losses.
First you need to crawl first before you can walk but seriously I dont think you have even been conceived yet. What kind of crap is this? You need to go back to the drawing board. This makes no sense and no one could ever take you seriously unless they are completely retarded.
AriasWave
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So your wave iv goes into the price territory of wave i and ii in a Wave 3. That's the first indication that your analysis is flawed.
Wave iii of Wave 3 doesn't even look like Wave iii price action, looks more like a zig-zag to me and is by no means the sharpest wave so obviously you don't know what Elliott Wave is or have not even studied it properly which probably why you have not posted any ideas in at least a year.
A five wave move is not the beginning of a correction which means you assume that after this current 5-Wave move down will eventually turn into an A-B-C pattern aka wishful thinking.
The fact that you added a pitchfork and volume shows that you have no idea what you are doing.
You also have a theory that XLM could potentiality go to .12cents which is foolish.
I think you need to go back to basics before you start trolling other peoples work and I say no more.
TheKnown
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@AriasWave, you telling someone they don't know what they are talking about is the biggest hypocrisy possible. Jesus man. Leave well enough alone. Take you own advice, if you don't like his ideas don't comment on them.
You ego trip so hard and you have turned a place where people come to collaborate on ideas and have told everyone they are wrong, when in reality you're wrong most of the time. But hey, even a broken clock is right twice a day. If you want to play god within your own group feel free, but grow up man. Treat people with respect and maybe you'll earn some yourself
mfibbs
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@TheKnown, Thank you! He started all of this when I warned him that XLM was going to crash when we wear near the top. He told me to basically shut up and made me want to start putting out my own analysis's. I dissected this count and we had 5 clean waves up in a leading diagonal formation. Our drop to the .786 proves that. This guy clearly has narcissistic behavior and his analysis never made a drop of sense. I asked him to explain his claims of $50 and he didn't like that. Well look what happened. Now he ignores what really happened and does nothing but back peddle. He sucker's newbies into believing his methodology has substance. He never recommends trades that actually make $. I can't see how this guy makes any $$ trading. He's so arrogant and thinks he's the only one with an opinion that matters. His Magenta line breaks on a regular basis therefore proving his methodology is made up bullshit! Very few people rub me the wrong way. This guy takes the cake!
mfibbs
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@AriasWave, Wave 4 can always go into the territory of wave 1 when the wave is in an leading diagonal formation. That's exactly what wave 3 was. Wave 4 on this chart went exactly to the .50 as it should since we had a shallow wave 2, and DID NOT go into wave 1 territory. Bitcoin is in a huge leading diagonal from it's existence. Wave 5 was also an ending diagonal on this chart. Also wave 3 is an exact 1 to 1 extension of wave 1. Many would argue that we finished wave 3 up at $.80 and this drop to $.20 is a wave 4. If that were true than this would be the deepest wave 4 I've ever seen. You obviously don't know elliot. Stick to your theory and I'll stick to mine.
mfibbs
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@AriasWave, You obviously don't know shit about elliot wave. This move up was a leading diagonal. Every wave's fib relationship was verified. It was a very complex count to dissect. Wave 5 was a clear ending diagonal and had a wave 1 extension, therefore wave 4 can retrace into 1. Do some research on how wave 4's can play out. LEARN THE WAVE'S..LOL , You love the wave's..LOL
Hansdolo83
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where do u think we are headed to?
mfibbs
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@Hansdolo83, I will have part 2 coming today or tomorrow. What bothers me is that this bounce we got at $27.4 where it’s easy to hope we are starting wave 3 really didn’t have the volume you would want. I see us possibly heading up to the .50 or the .618 fib level and then back down. I will post possibilities soon so you are prepared for whatever happens. I don’t see moon anytime soon. When I see moon, I’ll let you know with realistic targets.
just a suggestion, looks a little busy and cluttered towards the end of the candle markups. you have four arrows and text boxes that look like they could be the same candle. love the analysis though, good work