NANO Adjusting targets with new information
Updated
Previous targets no longer fit with NANO price movement.
Profit in previous trade has made 30% but we need to adjust to new information.
Redrawn waves give wave 3 a 1.618 extension of waves 1-2
With wave 3 extension we should assume a .786 extension of waves 1-4
Although the .786 extension would be higher then given target it seems unlikely NANO breaks the channel on a 5th wave. Safer to exit this trade early then to get caught chasing the top.
Since Wave 4 can not extend into wave 1 territory 89000 would invalidate the count.
Target 1: 10966
Target 2: 11800
Profit in previous trade has made 30% but we need to adjust to new information.
Redrawn waves give wave 3 a 1.618 extension of waves 1-2
With wave 3 extension we should assume a .786 extension of waves 1-4
Although the .786 extension would be higher then given target it seems unlikely NANO breaks the channel on a 5th wave. Safer to exit this trade early then to get caught chasing the top.
Since Wave 4 can not extend into wave 1 territory 89000 would invalidate the count.
Target 1: 10966
Target 2: 11800
Trade closed: stop reached
Exiting this trade with profit
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