Chart of the Day: XLM

in cryptocurrency •  15 days ago

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Today's chart of the day is Stellar Lumen (XLM). XLM has worked the long term fibs quite nicely, hitting the 50% and then 1.27.2% extension. As long as it holds the .764 at 11 cents it is reasonable to expect a rally to 161.8% extension at $3.11. Right now it seems it is trying to hold a triangle as shown in the red count. However if it breaks the point markted white circle A / red b, it will likely be in a Y wave which could reach 11 cents.

XLMUSD - Primary Analysis - Sep-09 1534 PM (1 day).png

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nice analysis mate. thanks for this

Dear sir,
doesn't it look like descending triangle because base is same and every peak is Lower than the previous one and volume is also increasing negatively on every lower peak

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Slightly wedged, which is valid is in a wave iv, but not ascending because the lower extremities are not flat.

Sir seeing to your post, I have noted that you have analytical expwrience.Now I hope that you will share your experience about an MLM companay named as Paydiamond which had collected millions of dollars from poor people by saying that our companay are trading real diamond on hong kong...Now the company has closed its website and has merged in another company Lifinblock...The people who had invested are now totally in loss...I had also invested in these company but now I lost about 14000$ in it...

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I don't know anything about it. All my charts are charts I watch for a long time. I don't do forensic analysis on companies.

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