XLMUSD - The Bearish Scenario Returns - Wave\Trend Analysis.
In this video I outline some reasons why XLM may still be in the initial corrective phase which started in May.
Firstly the waves indicate that the correction since June is against the dominate trend.
Secondly the attempts at moving higher seem weak, sluggish and keep being rejected.
Playing devils advocate when everything seems bullish is a good way to keep you grounded.
We still need to see further confirmation.
More to come...
Remember to use Disciplined Money Management Principles to ensure longevity as a trader.
If you don't know the long term pattern shouldn't you be doing your research[b/] instead of just following the crowd?
Just remember: I am not a financial advisor, I suggest using this only as a guide. Always do your own research.
Firstly the waves indicate that the correction since June is against the dominate trend.
Secondly the attempts at moving higher seem weak, sluggish and keep being rejected.
Playing devils advocate when everything seems bullish is a good way to keep you grounded.
We still need to see further confirmation.
More to come...
Remember to use Disciplined Money Management Principles to ensure longevity as a trader.
If you don't know the long term pattern shouldn't you be doing your research[b/] instead of just following the crowd?
Just remember: I am not a financial advisor, I suggest using this only as a guide. Always do your own research.
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