Long

PEPE Long to Lose a 0

Updated

PEPE has reached my lower target at the 0.786 Fibonacci level, signaling a prime opportunity to initiate a long position with a carefully placed stop loss. We're now poised for an ascent towards the 1.618 Fibonacci level. How to take profits

1.618 Level: Consider selling between 50% to 70% of your position. This is a significant target, marking a potential turn or pause in momentum.

2.0 Level: Take profit on another 15% of your holdings. This level represents a further stretch in price, warranting partial profit-taking.

2.618 Level: Aim to sell an additional 15%. Should the climb not extend to this lofty target, look to offload this portion anywhere in between the 2.0 and 2.618 levels.

Disclaimer: I’m not a financial advisor, and this should not be considered financial advice. These insights are shared from my personal perspective and are intended for educational purposes only. Always conduct your own research and consult with a professional before making investment decisions.

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It's nearing my first target. I feel as if the price is just retesting it's support at 0. I feel as if this can make the final push soon

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Looks like PEPE is creating rocket fuel on the 1, It might be more likely to hit my higher targets now

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There seems to be a massive bullish wedge on the 1hr timeframe.
we just need a little volume

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Here we go

Trade active

Trade with caution. The latest drop brought us down back to the 0 fib, this doesn't invalidate the trade or wave yet but it does delay or trade

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Wave 3 just fell a little short of the target but it did hit and confirm,
We've had a retrace now and we're on wave 4 to 5

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Trade active

With wave 3 being shallow, wave 5 should end the 1.

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Waves seem incorrect 4 crossed into 1 will need to reexamine

Order cancelled

Trade active

Looking at the charts again. Elliot waves have not been violated trade is on.

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This trade was incredibly tricky. Wave 5 is complete on the 0.786 it might want to push a little higher, it might not, but wave 5 if not complete is looking for it's support/ceiling.

On to wave A

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We're still waiting for confirmation if W5 is complete, however it looks like it is.

Here's an Idea of where A can land, but again, we need confirmation
I will have a clearer target in a few hours

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updated target for A

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A to B was very quick, let's confirm first but if this is the level then target B will be this I will normally take a % of profit and every fib to ensure gains

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Looks like A really wanted to hit that 0.5.

I like to cashout on the higher waves at least a portions. You can always start your next trade at later target, anyways A might still be in play.

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Unless of course it hits these targets here, remember I always aim for the shallow points first then hold off for higher fibs. Keeps you paid

Next update will be when either A makes a new low or B is complete

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Landed exactly on my target, C has begun,
this one might be a little tricky

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Trade closed: target reached

Last wave came down hard, We should be able to hit the 1.618. I like to close a little early just in case and set a small buy with a tight SL at last target. For now this trade is done! congrats everyone!

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Left a new trade in the comments!
If you like the idea feel free to give me a boost!

SpaceMecha

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