STATUS SNT - Shows long term potential of $1.00-$1.20 - Up to 147% - Support found?

STATUS bounces 85% in 2 days! Now what?

Status finds the first support at a respectable 0.5 to 0.618 fib retracement and a healthy ABC zig zag.

Using the current data and assuming this support has been found, and that correction is done, we can use a fib extension of 1.618 as our target 2, and slightly lower for target 1.

With T1 = $1.10 and T2 = $1.20.

We assume based on elliot wave theory that next wave, impulse wave 3, is often the strongest and never the shortest. Based on a bull altcoin sentiment this 2018, we can assume a strong impulse move up. Especially with much added volume since added on Bitfinex.

Always be cautious, take high probability trades, plan entries and exits, stick to high reward low risk R:R setups. Good luck traders

Really appreciate the upvote and support on steemit.

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Please always remember we trade using probability and not all trades are winners. We manage our risk with stop losses and try to win over time. Those that don't understand this, and expect only to having winning trades, will always lose money over time.

The ultimate goal is to help the crypto community because I think there's a lack of these type of videos. I want to share everything I've learned because knowledge is only power if passed on. These are educational videos intended to teach how to think through thought-out rationalization.

DISCLAIMER:

I'm not a financial adviser, nor am I giving you any tips on when to buy, sell, etc. I'm simply stating my opinions and what I personally look for. Those that follow my trades blindly and don't understand risk management, will always lose over time. I manage risk differently. Not all trades are winners. We manage our risk with stop losses and win over time. Even if we've entered at a similar price, I can micro manage my risk, by shedding, adding, reducing, etc, but those calls aren't made. Therefore despite entering near the same price, I may come out well ahead while you may take a loss, even if we exit at the same price when the market goes against my call. Remember, I always profit OVER TIME, and am not focused on winning every single trade. As long as we win more than we lose over time. I want to be very clear so you understand the outcomes will always be different even if we take the same trade. I MANAGE RISK and see this game as a probability. Therefore, be forewarned.