XVG VERGE - Jan 31 Long Term Technical Analysis - 465% Gain Long Term
Privacy Coins Will Be A Hot Topic in 2018 - A potential for 465% Gains LONG TERM
Firstly, I would like to make a comparison to another coin where similiar patterns emerge, such as with IOTA, where we've seen what has happened. Here is IOTA during its wave 2 consolidation under $0.40 range before the massive breakout.
Then we know the rest with IOTA after breaking out.
XVG is currently squeezing into a beautiful falling type wedge as well. These falling wedges like to break up when reaching the critical apex. We also see a very respectable retracement between the 0.786 and 0.618 region.
Using the same projection methodology with coins that follow this pattern, with fib extensions slightly higher than 1:1 for wave 3, and 1:1.618 for wave 5, we can project the following.
This is an extremely long term projection and I'll be following it closely over the days and weeks. Please understand that failures in wave can occur and will be re-evaluated should that situation arise.
Always be cautious, take high probability trades, plan entries and exits, stick to high reward low risk R:R setups. Good luck traders
Please consider these videos:
Lesson 1 - Bitfinex Tutorial - How to Customize and Set Up Bitfinex
Lesson 2 - How to Analyze Candlesticks Charts with Strategy
Lesson 3 - Moving Averages
Lesson 4 - Relative Strength Index RSI with Advanced Strategy
Lesson 5 - MACD and Histogram
Lesson 6 - Margin Trading Long, Short, Leveraging
Lesson 7 - Basic Risk Management
Lesson 8 - Fibonacci Retracement Part 1
Lesson 9 - Fibonacci Extension Part 2
Lesson 10 - Laddering
Lesson 11 - How To Interpret Time Frames
Lesson 12 - Swing Trading Advanced 55 EMA Strategy
Lesson 13 - Introduction To Elliot Wave Theory
Lesson 14 - Using a Basic Excel Tracker for Risk Management
Lesson 15 - Tutorial Part 15 Automatic Stop Sell/Buy Executions
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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:
Legal stuff here. I'm not financial advisor. This is just my opinion that I'm sharing with the community. All information is for yours to process how you wish.
Thanks for the tip looks worth to try it out.
One more amazing video...
video is coming. i made a few mistakes and am editing it. sorry!
Don't edit out the funny bits please!
Coins mentioned in post:
Hi Phil
I'm wanting to get into LITECOIN but am not sure when to buy in. Can you advise? At the moment it's $200.00 Australian. I want to purchase about twenty coins plus ten eth. Thanks
Hi, I'm from Australia. I found the easiest way to buy, BTC, ETH, LITCOIN, BCC is with Coinbase. They have an app for mobile as well. CONS: You can only buy a maximum of $250 per week.
For larger amounts try coinspot,com.au. You'll pay a higher rate than at exchange prices at both coinbase and coinspot to get in. Research coinspot faq and forums for how to buy in.
I'm happy with coinbase as I have spread my buys over a few weeks and it's simple to use. I trade on Binance.
Once you have coins at Coinspot or Coinbase, you can transfer to an exchange to trade or download to a cold wallet for safe keeping.
Hope that helps
Paul
PS. Phil...I hope you don't mind me answering that Q
You're a crypto OG! Thanks for another great video! Based on what my mom tells me ahah you crack me up
Thanks again! Digibytes & Nano (just rebranded from RaiBlocks/XRB) could be an interesting one to look at for the future.
Cloakcoin is another privacy coin in a similar position as XVG. It seemed to reach a point where a breakout should of occurred, but unlike XVG, Cloak had a slower downward right triangle forming so it's breakout failed because of the current "all same market" event (BTC). Of course this is just my guess and what do you think about Cloak?
Will definitely have a look into it. Thank you for the suggestion
Good Move, I made a good profit on TRX back in December, always liked the coin, one of my first.
Loving the awesome TA you provide the community.
I have watched most of your videos and the one thing im struggling with is how to determine when an ABC correction is finished or not. Keep us the great work :)
Great Work and Analysis.
Thank You,