XLM continues to show good signs of Strength and Rhythm. Green Fib is of the entire wave since bounce at 0.057. Blue Fib is of the last leg up including the fast spike.
Many clean Pings confirm and reinforce the sequence. Confluence zones are the most common turning points. Each zone is worth close observation for more clues.
Green 4.236 is the target and most likely end of wave. Green 3.618 w/ Blue 5.236 equally likely to end wave. Green 2.236 w/ Blue 2.236 is key support/validation.
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So here we are at support, a good entry for late longs with SL just below the green zone
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Got a wee bit of a bounce, a good sign that it reacted exactly where it was "supposed" to Of course, we dont know if it will hold, but IF we resume uptrend, THIS would be a GREAT spot to launch from.
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Zoomed in, with Red Fib measuring the retrace leg (green zone is from original plot). The red 5.236 "should" have ended the wave, so we might hit the bottom of the green zone where the red 6.236 and 6.382 are (for band 6 I have found the .382 to be relevant as often as the .236)
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^^ clarification of above comment, with notes added on chart
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