GNT trading idea

I see a possible start of Elliott Impulse Wave (W1-->W2).
Buying zone between Fib. 38,2% and 61.8%.
Waiting for a confirmation of price reversal around Fib 61.8%.
In case of a false alarm and down trend continues I'm putting a stop loss at the beginning of wave1 (W1).

Comment:

GNT just broke up the resistance line at 0,00007521 this afternoon. To be on the safe side (in case my wave count is wrong) I put a selling order at 0.00007535 and already collected 1/2 of my entry, with a modest but solid 16.5% profit. :-)

But if the price breaks up the channel confirming the trend there will be a new possible entry point around 0,00008332. I set the first target at end of Wave 3 (0,00009818) and second target at end of Wave 5 (0,00010373). I also expect a correction around 0,00008150, something between Fib. 38,2% and 61.8%.

I'm also moving up my stop loss to beginning of Wave 2 ( 0,00006418)

Ahoy and happy trade!

Comment:

Our dear Golem is indeed slow. The release of Brass Golem Alpha2 0.8 pumped it up but not enough to break up the channel I mentioned before. I'm re-evaluating the wave count and establishing a new entry point as indicated in the graph. Again I'll put a selling order at 0.00008167 in case the giant decides to step a foot towards an up trend but decides to take a nap.

Ahoy!

Comment:

It just occurred to me that the price jump from yesterday just created an interesting supply zone for price reversal around 0,00009417 without any previous matching peak. It's something to keep an eye on in the next hours or tomorrow.