CPCBTC - 145-155% profit target Short

Description

⋅ Jan 15, 2018 5:08 PM

I'm new to technical analysis and am putting this out there for critique, tips, and to see how accurate I am.

I have made an attempt to utilize Elliot Waves, Fibonacci Retracements and Extentions, along with resistance lines.

Make sure to enter in the target zone of Fibonacci Retracement 50 to 61.8% (price targets shown on chart).

The first target is previous resistance for 145% profit, and the second is 155% at Fibonacci Extension of 1.618 (price targets shown on chart).

Comment

⋅ Jan 16, 2018 10:53 PM

Due to the crypto market tanking today, this is likely no longer valid.

Support and Resistance Fibonacci

Comments

HalfCupTravel

⋅ Jan 15, 2018 5:49 PM

Hey, thanks for the chart. FYI you've labelled it as SHORT which means you expect it to go down in price. LONG is up in price, regardless of the timescale. Good luck.

UnknownUnicorn770745

⋅ Jan 15, 2018 5:50 PM

@HalfCupTravel, Thanks, I thought that may have been the case. I'll try to edit.

jamikr

⋅ Jan 15, 2018 5:22 PM

this one is so hard to get right . i got it right yesterday but then got out. . maybe i will watch yours. would love to catch a wave 5.