Disclaimer: This is not financial advice
High leverage trading is all about entries, you need to have patience and to not let fear of missing out drive you into opening rushed positions. Map out your trades in advance and wait for the right entry. Our aim is to capture quick & safe profits, not to predict the future, this is possible only if we plan ahead and wait for a good entry. So if you're nervous and itching to open a position then take a few deep breaths and don't trade!
OXT seems to have just completed a bullish impulse wave that started on July 2nd and has finalised corrective wave A at exactly the 61% Fib level. For those unfamiliar with Elliott terminology, A is the first wave of an ABC correction. B is next, which also seems to have started. We will have a confirmation of this as soon as we break out of the wedge marked by the red lines. The first target for B wave is the 50% Fib level (0.49), this is a good spot for some high leverage shorts. Shouldn't it hold then the next level 31% Fib level at $0.579. Once wave B is completed then wave C should started. The target for wave C, estimated based on how deep A has been, is around 0.168. This means that should the current formation (which I plan to trade) be confirmed then the price should almost fully retrace the gains achieve since July 2. Right now I will wait for wave B to form and will be looking for shorts in the 50% Fib area first and 32% next.
Entry: 0.49 SL: 0.54 TP1: 0.30 TP2: 0.18
High leverage trading is all about entries, you need to have patience and to not let fear of missing out drive you into opening rushed positions. Map out your trades in advance and wait for the right entry. Our aim is to capture quick & safe profits, not to predict the future, this is possible only if we plan ahead and wait for a good entry. So if you're nervous and itching to open a position then take a few deep breaths and don't trade!
OXT seems to have just completed a bullish impulse wave that started on July 2nd and has finalised corrective wave A at exactly the 61% Fib level. For those unfamiliar with Elliott terminology, A is the first wave of an ABC correction. B is next, which also seems to have started. We will have a confirmation of this as soon as we break out of the wedge marked by the red lines. The first target for B wave is the 50% Fib level (0.49), this is a good spot for some high leverage shorts. Shouldn't it hold then the next level 31% Fib level at $0.579. Once wave B is completed then wave C should started. The target for wave C, estimated based on how deep A has been, is around 0.168. This means that should the current formation (which I plan to trade) be confirmed then the price should almost fully retrace the gains achieve since July 2. Right now I will wait for wave B to form and will be looking for shorts in the 50% Fib area first and 32% next.
Entry: 0.49 SL: 0.54 TP1: 0.30 TP2: 0.18
Trade active:
Short trade was triggered at 0.49, we hit the entry area as anticipated 2 days ago.
SL 0.54
TP 0.3
SL 0.54
TP 0.3