CPC - Buy opportunity with tremendous potential
Updated
Hi all,
CPC woke up a few days ago, and now, another buy opportunity has presented itself.
I would like to draw your attention to the five numbers labelled in white: 1,2,3,4,5
I see them as a set of elliot waves. I especially want you all to focus on wave five, which almost looks like a wedge.
Now, if you are curious, here are some sections from Constance Brown's Mastering Elliot Wave Principle (page, 35 -37)
"The Termination Diagonal Triangle is a patern that terminates trends and is the most common wedge. It is found in fifth-wave positions most often so they are viewed as impulse waves."
"The common diagonal pattern carries a message that the trend is exhausted and the other leads to new trends."
"This wedge looking patern is a trend killer and considered to be a valid impulse wave that develops in the fifth wave position of developing trends."
My opinion:
The downtrend correction is exhausted.
We are now ready for our new uptrend. Which would be wave 3 if we look at the daily chart.
*The buy and sell signals can be extracted from the yellow channel.
*The target are fib levels (will update soon)
Good luck trading my dear friends :)
Have a wonderful day!
CPC woke up a few days ago, and now, another buy opportunity has presented itself.
I would like to draw your attention to the five numbers labelled in white: 1,2,3,4,5
I see them as a set of elliot waves. I especially want you all to focus on wave five, which almost looks like a wedge.
Now, if you are curious, here are some sections from Constance Brown's Mastering Elliot Wave Principle (page, 35 -37)
"The Termination Diagonal Triangle is a patern that terminates trends and is the most common wedge. It is found in fifth-wave positions most often so they are viewed as impulse waves."
"The common diagonal pattern carries a message that the trend is exhausted and the other leads to new trends."
"This wedge looking patern is a trend killer and considered to be a valid impulse wave that develops in the fifth wave position of developing trends."
My opinion:
The downtrend correction is exhausted.
We are now ready for our new uptrend. Which would be wave 3 if we look at the daily chart.
*The buy and sell signals can be extracted from the yellow channel.
*The target are fib levels (will update soon)
Good luck trading my dear friends :)
Have a wonderful day!
Trade active
Short term targets (fib levels)- 0.00016
- 0.00026
- 0.00030
*You can also sell at previous highs where we might expect resistance.
*You can also sell at round numbers where we might expect resistance.
*If this trade goes well, there is huge potential for growth for this coin and there will be more targets to come.
Note
- Message:There are people who PMed to suggest I start a telegram channel.
Let me know what ya'll think!
And if you have made profit from my ideas, make sure to support me @
- BTC: 12L635hTz12ZcwBzdixwKyWYpkpUa5ve8p
- ETH: 0x05f171e02092ce9200779ace56ff1b1411e1ec26
- LTC: LTFr3Jp445vENZUZQopQPoqRgeSyGs36fe
I don't charge a penny because I know if I give to the community, you guys/girls will give back to me!
I appreciate all of your following and feedbacks!
Much love!
Trade active
This is a weekly chart (each candle is a week of our humble life on earth)
From chart patterns, I am optimistic re; reaching 0.0002 sometime this week/next week!
Note
wait, and react
Trade closed: stop reached
Note
Lesson: Have a plan for every trade. The plan should be set before you place your pending orders for entry.
When the price action is no longer in your favour, we have to own up to our mistakes and take the loss. You do NOT want to get stuck in a bad trade and lose your liquidity.
Cheers! There will be more winning ones in the future for sure!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.