XLMUSD
Idea 1.
Following the Elliot Wave principle and the Psychology of a Market Cycle we can see that we have 5 pushes up. The 5th push being stronger than the pushes before, this is made to induce people to BUY. They are now trapping people going LONG.
Price is sitting at the top of the run and I am expecting a ABC correction. (A) being at the 50 EMA , then a smaller move up to (B) before a larger move down to (C).
The prediction of C is sitting at a 50% retracement for the whole move.
C is also our potential buy zone. At approx $0.6
Even better if it drops down to the 200 EMA which will be sitting at a price of $0.5
Idea 2.
Later WHEN price is sitting at (A), and is doing its small move up to (B) but instead of going to (B) it moves PAST our FIFTH push..... then we can expect a new wave going LONG with 5 NEW pushes.
Kommentera:
Bought half of my position at $0.69 to be on the safe side.
Kommentera:
BUY ZONE!!