After the large impulse in all
the cryptocurrency markets,
I am expecting a nice retracement
where I will be looking to buy again.
My strategy is to ride this thing out to the
top of wave 1 and cash out. Then re enter after we
get a retracement that is inevitable.
So first target is roughly $250 (71.0% Rev. Fib AND Top of Cloud)
and then I see things retracing towards the $130 area (61.8% Fib Level)
before pushing us up for our 3rd wave which I see hitting $600 (161.8% Ext Level).
In my opinion, it is more profitable to trade these coins on the way up rather than
just buy and hold because things rise and fall so quickly it is just a shame to let the
profit disappear. Better to take your money off the table when it is there and play with house money.
Let's see how things play out.
For Documentation Purposes Only
- Metaphysical Trader
the cryptocurrency markets,
I am expecting a nice retracement
where I will be looking to buy again.
My strategy is to ride this thing out to the
top of wave 1 and cash out. Then re enter after we
get a retracement that is inevitable.
So first target is roughly $250 (71.0% Rev. Fib AND Top of Cloud)
and then I see things retracing towards the $130 area (61.8% Fib Level)
before pushing us up for our 3rd wave which I see hitting $600 (161.8% Ext Level).
In my opinion, it is more profitable to trade these coins on the way up rather than
just buy and hold because things rise and fall so quickly it is just a shame to let the
profit disappear. Better to take your money off the table when it is there and play with house money.
Let's see how things play out.
For Documentation Purposes Only
- Metaphysical Trader