Long

PAYETH Bittrex 10Sep2017-falling wedge (?)-waiting to buy

Updated

With looking at 4H PAYETH chart there looks to be a falling wedge pattern. If price breaks up and 1 complete candle confirms + RSI breaks lower high trendline we may have buying opportunity. MACD should confirm as well. I was hoping to see an Elliot Wave 4 completion however as price broke below 0.0095 levels hard rule of wave 4 not to overlap with wave 1 was broken. Based on the above in case of a break-out upwards and with confirmations we have buying opportunity and so I am planning to use some of my ETH deposit for buying PAY. TP levels canbe partially at 0.0113 fib 0.618 level of previus upward movement and at 0.0141 fib 0.382 level and at 0.0189 ATH. Signs at each level should still confirm ’bullish’ trend. Swing trade in the short term can be considered at each resistance to cumulate PAY token.
In case price breaks downtrend line and/or 0.0069 support level pattern fails and we may need to look for other buy opportunities. Next support is at 0.0041 levels.
What do you think? Please note – these are my personal plan and thoughts only and so please trade carefully!

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PAY broke upper line but still waiting for entering into long. 'Bullish' reversal signs may confirm shortly.

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Still waiting.

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Closing to support at 0.0069 levels. Waiting.

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Touching support.

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PAY broke out. MA10 is just about to cross MA60 suggesting potential trend reversal. Prior to buy in I wait for a bullish confirmation after the break-out - e.g. pennant or falling wedge and then buy in.

drgorogbalazs

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