downside should be limited,
shouldnt get anything major over the low volume weekends, alts could get nice rallies. 0.236 - 0.382 are GREAT areas to bank some profits (ideally wanna derisk or close by premarket on Monday), or let it run.
a 5 wave move down is clearly visible.
In the bearish scenario, Im favoring a leg missing as the wave v extension target range was NOT reached. This can play out differently from the count as there are H&S patterns on FTM and multiple crypto charts across the board. If by chance it swing down to the wave v extension range (pink box), thats a buy zone target.
In the bullish case well thats self-explanatory so take profits as you like, just before resistance levels are most common
We're shooting to scalp for a wave iv type bounce, taking out the pivot high near the 0.5 fib approx $0.445 which is roughly 25% from this low.
Risk:Reward LFG!!
shouldnt get anything major over the low volume weekends, alts could get nice rallies. 0.236 - 0.382 are GREAT areas to bank some profits (ideally wanna derisk or close by premarket on Monday), or let it run.
a 5 wave move down is clearly visible.
In the bearish scenario, Im favoring a leg missing as the wave v extension target range was NOT reached. This can play out differently from the count as there are H&S patterns on FTM and multiple crypto charts across the board. If by chance it swing down to the wave v extension range (pink box), thats a buy zone target.
In the bullish case well thats self-explanatory so take profits as you like, just before resistance levels are most common
We're shooting to scalp for a wave iv type bounce, taking out the pivot high near the 0.5 fib approx $0.445 which is roughly 25% from this low.
Risk:Reward LFG!!
Comment:
Potential alternative scenario in completing the wave v
Trade closed: target reached:
Position closed at $0.39c, reached our main target (short term)
now will await to see if pullback will find support (reteet breakout) or continue lower to complete move down.
This is the type of bullish setup Im looking for:
now will await to see if pullback will find support (reteet breakout) or continue lower to complete move down.
This is the type of bullish setup Im looking for:
Comment:
Once the (iv) gets taken out, we can favor limited downside against the proposed (v) and will look for either 3 wave pullback to retest the breakout or 5 waves to retest the low (for BUYING, must respect DCA strategy and patiently wait)
If continues lower, the downside should be limited with another buying opportunity favoring a quick bounce to the 0.236 fib for some quick profits before printing local bottom. So for trading, keep these perspectives in your radar
If continues lower, the downside should be limited with another buying opportunity favoring a quick bounce to the 0.236 fib for some quick profits before printing local bottom. So for trading, keep these perspectives in your radar