So what I've noticed with small market cap coins is that when they get a REALLY big pump on their 3rd wave, their 5th waves fall wayyy short of their target, to the point of truncation. It happened with Reddcoin Civic and Groestlcoin when I was following them. So I don't know how this correction will play out, but cryptos love ABCDE patterns, and based off of the wave 2 correction, it looked more like a long descending . So I'll try to assume something similar.
So on this, we have to be veryyy conservative, and veryyy patient. The next run is likely to not happen overnight.
So, I likely wont enter this trade until the Daily has fully crossed and reached the bottom of the downtrend. But what I need at the same time is for the to continue to stay in a zone.
So target 1 is assuming a truncated fifth. Let's say it hits that target pretty quickly with 5 full waves and Daily isn't leveling. Then I THINK we are likely to hit the next few targets. What I am personally going to look to do, is selling around that level and seeing how the correction goes to reduce my risk of losing profit. I did that with civic and so far it has turned out advantageous. But I'm not sure if this will be the same case. Return could be astronomical, but risk is higher on this! So we have to look for signs of reversal!
Long-term, this may be a great coin. But I have no idea what the fundamentals of it are.
Good luck! Sorry, but I cannot tell when to buy and sell. These are just my opinions and are liable to fail!
330-440% Potential Gain!! 14.72 RR
Guys I'm falling in love with this trade opportunity! We have 3 coins (Mysterium, Civic and Geo) that all have potential to serve the favor while the big boys take a rest. I'm seeing so many similarities in these with Reddcoin.
This consolidation should take about 3 more days and I'm looking for entry right around that yellow line. Does this correction look familiar? Check out my latest Reddcoin post! We might be on to something here for finding the diamonds in the rough.
Close Eyes on GEOcoin. It has already jumped 55%!! The thing to watch here is... DONT GO BELOW THAT LINE. LOL. We could still be in the wave 4 correction for GEO, so I remain pessimistic. But If we follow these simple rules. I will look into a long position.
There is a ridiculous sell wall right now. So I may not do so hahaha. But that was a very very interesting spike.