VERGE (XVG) - Looking for Fib targets? This is for you

Hi my dear friends!

This is a 6 hr chart of verge?
Why 6 hr?
Because at this time frame, we can clearly count the 3 corrective waves that is the down trend in the box.
We can also see from data that fib levels had been a rather precise ruler to estimate this coin, as I explained in the callout box.

The next fib targets are labelled in green (if you drag up on the chat)

They are:
- 2700
- 3850
- 5050
- 5850

It takes time to develop a trade. HODL it, sell when stoploss reached, and ya'll be fine :)


*This post is more for people who are already in verge trade, if you are not in the trade and would like to join, please find an entry price that is comfortable to you on your own.

Good luck!

Kommentera:

*Expected correction to 1366 (.5 fib)

Handel aktiv:

I would be surprised if it goes lower

Handel aktiv:

we are heading back up, but don't be over-optimistic. Always be ready to react to the worst case scenario!

Kommentera:

My thoughts on chart pattern

Kommentera:

This one has better proportion

Handel aktiv:

This update is for my own entertainment.
Boxes with the same colors are of similar patterns.

Kommentera:

That was an absolute bloodbath, corrected all the way down to .236

Handel aktiv:

buy zone

Handel aktiv:

Hit our buy zone.
We have ourselves a position.

Handel aktiv:

A good start is always pleasant

Kommentera:

one min chart looks fishy, reduced position size

Kommentera:

worst case scenario

Handel aktiv:

order book on bittrex:
whales keep pushing down the price with sell wall/filling their own orders at a substantially lower price.
Assuming they are trying to accumulate more of their long position. -->Don't panic sell easily and fall for the trap.

Handel aktiv:

everyone sees this pattern. It is picture perfect.
The only thing we need now is volume.

If we drop below lower trend line for some reason (its crypto, anything can happen), we go to the floor and wait to buy back there.

Kommentera:

just bounced from lower trendline.
Need to be trading above EMA50 & MA50 on longer time frame to confirm another impulse wave going up.

Kommentera:

hovering around trend line, take care.

Trade stängt: Stopp nått:

This one hit me.

Kommentera:

If we drop to 470 we buy

Kommentera:

again, 470-500 we buy

Handel aktiv:

again, again, 470-500 we buy

Kommentera:

I didn't even realize.
The low was 502.....................


My order at 500 was not filled...................................