BrettduPreez
Long

Zilliqa - An idea on how to trade.

BINANCE:ZILBTC   Zilliqa / Bitcoin
Looks like an Elliot wave formation. Elliots are theoretical but do provide some guidance.
We are currently in wave 3 and climbing. I am trading with a stop loss of around 7%.
Exit at red levels, enter at green levels.

All other indicators are good. Fundamentals also good :-)

Let me know if you have suggestions. Good luck.
Trade closed: stop reached
Comment: Goes to show that Elliot forecasts should be taken with a grain of salt. They can be very useful, especially in established markets. But this one seems like the bulls have retired for now. I will reenter only once there has been an established uptrend again.
Placed my trade just before I saw this :)
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@Davidbr84, unfortunately Zil has run out of gas :-(
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Davidbr84 BrettduPreez
@BrettduPreez, Indeed, but BTC also went in the opposite direction than anticipated by many TA's and of course alts follow. Damn manipulation....
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@Davidbr84, Yes this is unfortunate. I was very cautious when I took this trade due to being short with Bitcoin (That is why I used a tight stoploss). I think btc has a few weeks ahead in its bear market, so all alts will be risky like you mentioned. I guess we will just have to be patient for now :-)
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