The BAND party may not be over yet, but for now it's a shortDisclaimer: This is not financial advice
In high leverage trading your entry is a matter of life or death, you need to have patience and to not let fear of missing out drive you into opening rushed positions. Map out your trades in advance and wait for the right entry. Our aim is to capture quick & safe profits, not to predict the future, this is possible only if we fight for a good entry. So if you're nervous and itching to open a position then take a few deep breaths and don't trade!
I'm looking at BAND again tonight, I have been bearish on this for a while now and we finally broke down a range where it had been stuck for almost 2 weeks. This 12.2-14.8 range is an important supply area that I don't think we will overcome soon. I think a retest of 12 is likely which would make for some great high leverage shorts. I do not trade the news, I trade the chart. As traders we cannot afford to trade rumors and the chart tells us that right now this is a short with target $7 (which should provide some support) and eventually 4.56 (the upper limit of the previous range). Why isn't the party over yet? Because a wave count suggests we might have just completed a wave 3, this confirms our short term bearish bias but leaves the door open for another ATH as wave 5. Beware though that a truncated wave 5 (very common in crypto, especially after strong pumps) would create a strong reversal signal.
Entry: 10-11 SL: 12 TP1: 7 TP2: 4.6
