EGCBTC - Meteoric rise - Let's look at a safe way to enter.

I love the philosophy behind this coin and that's why I am really wanting to get into the move. Sometimes price will return on a smaller time frame to a level that I can take that trade. We have not tested resistance (blue line) price will usually go up to this and spring back. I will revise my plan if this occurs. However if price retreats from here to retrace - I'll be looking for a 50% level of the last move overlapping with previous support (role reversal) this is where the other bulls will be placing limit orders. I am happy to take the trade with confirmation eiher a COT on a 15min chart or a doji style candle on the hourly precisely off this level. My stop will be a few ticks under the candle pattern. If this level fails I will be looking at a deeper retracement to the 0.383 (0618) - to take the trade. What makes me think the 50 % is the better trade is that the initial swing and the 1st corrective wave of this swing have overlapping price projections of 127% a& 161.8% - This is a perfect set-up. Be patient and wait if you miss out too bad there's always another train coming.

Comment:

Well I am glad I waited for confirmation. Nothing tells me that the bulls are around. But I will wait and see. The last line of defence for this pair is holding so far - I don't like the look of this pattern for a long trade just yet, however it is at support so if you do want to buy it's nice and cheap!

Comment:

EGC came back to the last fib retracement. Most of the Crypto's that I am analysing stall and turn at the extreme retracement levels of 0.24 or the 0786. I am looking for a HH on the daily from this pair.