Is an Elliot Wave forming on LTC?

have a look what do you think? i drew this yesterday before it reached ath and its following perfectly right now.

from investopedia:
Theory Interpretation
The Elliott Wave Theory is interpreted as follows:

Every action is followed by a reaction.
Five waves move in the direction of the main trend followed by three corrective waves (a 5-3 move).
A 5-3 move completes a cycle.
This 5-3 move then becomes two subdivisions of the next higher 5-3 wave.
The underlying 5-3 pattern remains constant, though the time span of each may vary.


Read more: Elliott Wave Theory investopedia.com/articles/technical/111401.asp
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