Look at this beautiful channel trade! A nice back and forth channel bouncing back and forth between the median line on a Pitchfork , and a parallel line I drew based on support trend lines . How can you lose money on a chart like this?! Lines drawn to show potential Elliot Wave movements.
Look at this beautiful channel trade! A nice back and forth channel bouncing back and forth between the median line on a Pitchfork, and a parallel line I drew based on support trend lines. How can you lose money on a chart like this?!
Several things to discuss in this chart. Although the Vix Fix doesn't indicate market bottoms, retracement patterns based on falling wedge formation seems to indicate the bottom of the fall. Current retracement patterns to the .5 and .618 highly possible. However I'm also prepared with my portfolio for a drop back to the last support line.
I've spent the day charting the support and resistance lines for AdEx. I've indicated where I've bought into the coin. Although normally I follow a doubling, tripling, or quadrupling up method on a market downturn, I digressed from my normal path here a bit, buying more at a higher price than normal for myself. I corrected, and am currently waiting to quadruple...
Setting the historic support and resistance lines, I calculate the best buy/sell points for my personal investments in this crypto. What do you guys think? Have I got it right? Please comment below if you think I'm right, or especially if you think I'm wrong. I am not using any advanced technical analysis on this, just simple support and resistance elements.NEOBTC
