Targets and buy-moment QTMUSD
Updated
Now that QTMUSD was one of the top climbers of yesterday, I thought it might be interesting to see what may happen today.
Because of the trend not being able to set a new lower bottom, I assume that wave 4 is yet finished with a retracement of 76.47%.
I set my goals on 78.6% [80.18350], 100% [86.5500] and 123.6% [93.57100] as seen in the chart. I myself bought a little bit to early at $ 55.7 at 6 am this morning (Holland, GMT+1). If you want to be a bit more sure, you can wait for it to set a higher top (what would be inherent to breaking out of the descending trendchannel (/FLAG?)) and then buy after a close around $ 62.5.
Also you can set the bands of your CCI to -150 and +150. Earlier big rises came along with a breakout out the +150 CCI-band, the 70 RSI-band and volume breaking through the MA. So if you want do reducse your risk. Wait for those indicators to jump in. ;)
Funny note: See how the retracement of the last subwave is EXACTLY the same as wave 4.
All reflections are welcome! Either I see things right or wrong or I used the wrong terms ... anything that can help me in the future, thank you.
Because of the trend not being able to set a new lower bottom, I assume that wave 4 is yet finished with a retracement of 76.47%.
I set my goals on 78.6% [80.18350], 100% [86.5500] and 123.6% [93.57100] as seen in the chart. I myself bought a little bit to early at $ 55.7 at 6 am this morning (Holland, GMT+1). If you want to be a bit more sure, you can wait for it to set a higher top (what would be inherent to breaking out of the descending trendchannel (/FLAG?)) and then buy after a close around $ 62.5.
Also you can set the bands of your CCI to -150 and +150. Earlier big rises came along with a breakout out the +150 CCI-band, the 70 RSI-band and volume breaking through the MA. So if you want do reducse your risk. Wait for those indicators to jump in. ;)
Funny note: See how the retracement of the last subwave is EXACTLY the same as wave 4.
All reflections are welcome! Either I see things right or wrong or I used the wrong terms ... anything that can help me in the future, thank you.
Trade active
I have to make an adjustment on this. What I thought that were wave 1, 2 and 3 is probably just wave 1. That makes a lot more sense since the retracement is now 49.85%, so very close to the Fibonacci 50% retracement. Also the flag that I saw, but was not sure about is now not so much out of proportions.Seen this way, I also had to change my goals, they are now:
• 78.6% [85.10990]
• 100% [94.87600]
• 123.6% [105.64610]
Trade active
This isn't going very well. I don't know why my targets are not shown and I also don't know how to edit my previous update, but here they are:78.6% > $ 85.10990
100% > $ 94.87600
123.6% > $ 105.64610
I also see that the chart is not updated along with my post. I have to dive into this and learn some more about this idea's. My apologies.
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