TRX (Tron) / BTC - 09 May 2018 - correction in progress, C leg still missing
The 3th wave reached the Golden Pocket retraced from last swing high to low at 1084 sats. Since then the reactive 4th wave is in progress and C leg still missing. There is a big chance B wave to do a ABCDE first before the beginning of the C leg. 3th wave reached the 175% extension projected from waves 1 and 2 so there is very good change 5th wave to reach the 275% extension at 1417 sats. Good sell zone between 88.70% retracement (1337 sats) and 275% (1417 sats).
Buy zones
- 0.382 Fibo
- 0.5 Fibo
- Golden Pocket between 0.618 and 0.65 Fibo. 4th wave should not reach this level but it's a very good support zone too so I add it here as possible buy zone. There is very small chance to happen but may happen if BTC decide to tank.
Best practices: Ladder your buys all the way down between 0.382 and 0.65 Fibo.
Stop loss: Slightly below the top of wave 1. If wave 4 go below wave 1 this will violated one of the Elliot waves rule and will invalidate the count!
Legal Disclaimer: This blog post and the materials in it are for informational purposes only. I'm not an financial advisor. This is only my opinion. It is not advice or recommendation to buy or sell according to provided information about the price movements and I am not liable for any pecuniary damages!