It didn`t go so well :(
What do you think? Can it go up soon again?
kerstjens
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@Sanzi87, Hi, thank you for your comment. The impact of the Bitcoin rally on the value of REP is huge. If you like at coinmarketcap.com and see the volume being traded (last days), the pair REPBTC are on top for three large exchanges. To be honest, I'm a bit suprised by the performance of REP, as I also have a stake in it myself.
My advice, wait a bit longer, maybe add some to your position when price hit lowest levels and you see signs of changing trend. When the bitcoin rally will end, I believe REP will go up again.
Sanzi87
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@kerstjens, Thank you for your reply. I could close the position with 1.4% profit. The nightmare is over! :D I hope you can take bigger profit from REPEUR, but I think I will forget REPEUR. I go back to LTCEUR and ZECEUR. Have a nice day!
EtherStingray
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Hi, may I ask you how you calculate your first stop target of 33 euros? I have some trouble seeing that target.
kerstjens
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@EtherStingray, Hi, sure you can. I believe that charts often follow the Elliot wave structure. Therefore, based on the lenght and steepness of the previous wave, I used the Fib extension tool to calculate the possible targets of the next wave. Based on Fib 1.00 (used at Wave 5), this is going to be around 33 euro. Based on Fib 1.618 (used at wave 3), this is going to be around 40.5. Does this help you?
EtherStingray
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@kerstjens, Thank you for your reply, it made it easy to understand and it helped me a lot. I hope the Elliot wave structure will work out. Happy trading!
What do you think? Can it go up soon again?