WAVES has been on an absolute blast for practically all of March. However, the $60 area proved to be a very strong resistance and caused the current downfall in price.
With prices getting decimated over the last couple of days, I'm starting to look for entries. The overall market trend is still bullish, so I'm expecting WAVES to correct upward in the coming days.
The main area I'm looking at is the purple area on the chart, right between the 0.5 and 0.618 Fibonacci Retracements. This area is classically an area where reversals take place.
If we reverse towards the $40, I'll scouting for exits. Highly doubt that we're going to see $60 anytime soon again.
Thank you Fierytrading for all you post. I often try to get to the same analysis as you in order to learn. However, no matter what I do I cannot duplicate the Fibonacci retracement that you show here. Why would you suggest this is? Thank you for your response! Anybody, feel free to respond...
FieryTrading
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@StarlitePhi, Are you on a logarithmic chart? If not, try that.
StarlitePhi
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@FieryTrading, Yes, of course... Could it be anything else? I wish I could send you a picture...
What about waves...can we buy now..?