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EuroMotif
Oct 31, 2019 7:33 PM

LINK.USD bounced as expected, how far to go? ChainLink targets 

ChainLink / TetherUSBinance

Description

LINK bounced from the support zone previously mapped.
Broke through a serious resistance and approaching others.
Targets are based on likely wave end points, and confluence.

2.7434/79 is immediate resistance already being noticed.
2.7925 has a tight confluence of 2 fibs, should be strong.
2.8838 is "structure" high that will be universally watched.

It is POSSIBLE that we have already topped.
But expect at least one more small leg up.
If breaks above all resistance zones, lookout!

Previous LINK analysis:
(still in play)
(caught recent top)
(perfect roadmap)
(caught recent bottom)
(caught the breakout)
(caught all turns)
(caught exact bottom)

Of course, I have had total FAILS on some ideas too, not going to pretend.
But all of my plots show PRECISE entries, TIGHT stops, and EXACT targets.
Precision is the way of the Fib. Almost every turn happens at a Fib Line.

Comment

1st Target hit, and pulling back now


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Comment

Consolidating in Band 2 with the 2.618 being clear resistance right now
the 2.618 is ALWAYS an important and strong fib. If not, I might have the Impulse wrong.
Of note the 2.236 is not containing the bottom of this rage, so next approach it will probably fall thru to the 1.618

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