LSK is breaking out!!!!

POLONIEX:LSKBTC   Lisk / Bitcoin
Ok I may have let emotions get away from me but boy did this break out and I got a buy buy buy signal out of the box! I had to place 3 orders to get in. I should have been paying attention to this instead of writing about IOTA. But none the less, if your a scalper, or trader the buy signal just hit. Retraced perfectly to the 4th wave, bounced to the upper channel consolidated and took off quickly. I caution that we may get a pullback to the box, so pick entry points carefully. I bought a 1/2 position already and will fill the other half on any pullback. Good luck in the pits today!!!
Kommentar: To be fair, I posted yesterday that this was a sell. I was incorrect as I had the retracement labeled wrong. I have updated that chart to reflect this. Even the best are wrong from time to time and I am no different. Good luck in the pits today. My buddy is going to be giving me Hell Today for this one ;)

I have updated the graph with a clearer picture.
Trade ist aktiv: I hope you are watching OMG for a setup!!!
Is it still a good buy at 0.0014x area?
+1 Antworten
@cipsas, My opinion is this is the breaking out. I do not have an issue buying here and I did and I'm closely watching the support line. As always I recommend buying in 1/3 or 1/2 positions, This is what i'm watching now.

sandrodz goldbug1
@goldbug1, with BTC going up, what is your take? should we hold position? also where is your stop loss?
+1 Antworten
goldbug1 sandrodz
@sandrodz, thank you sandrodz, I put where I will look to exit in the graph above. I noted it area as I never have hard stops, i will look at the graph to determine whether I exit or wait. I also do not put in stop loss orders and would only recommend stop limits as thinly traded equities can trigger a whale pushing the market through stop orders.

Thanks for reading have a good day in the pits.
@cipsas, Hope you bought in!!! your doing great today!
nostos156 goldbug1
@goldbug1, Sell at T2 later today? And OMG is about to follow?
+1 Antworten
goldbug1 nostos156
@nostos156, I just added to OMG you must be reading my mind!!! Also added BAT someone asked I looked and I liked the graph. Yes I have my order already in place there.

Thanks again
xlogic goldbug1
@goldbug1, Is abovementioned T2 level actual? I saw in a comments to DLavrov post that you set T2 way above 0.002 lvl - so you probably changed your mind. BTW - great posts, ive added you to my daily research position ;)
@xlogic, Hey xlogic, I'm not sure what DLavrov had as target levels, but what we look at is what the anticipated target would be on a normal extension (T1) where we would trigger 30% or 50% of our trading position, as it did. T2 was set after reviewing where the limit of wave 4 was and keeping in mind the general laws of EW. We anticipated it in the upper orange area, which was pretty close to the previous high and right where the 2.618 extension was. So when numbers line up like this it is a logical T2 point for a 3rd wave peak, keeping in mind we sold 30% at T1 and knowing that we are sitting in a good position to exit with a profit. worse comes to worse the 5th wave should exceed the 3rd wave which would be very close to our T2 target. All in all it topped within 1.3% of our T2 price. I'm not sure being within 1.3% of a target is being way off. (T2=180, topped at 177.8) With that said we did get sell 30% at .00173. Yes we adjusted as it unfolded, and still hold 30% of our trade, just in case it breaks before the retrace. Thanks for the complement!
cipsas goldbug1
@goldbug1, Unfortunately I didn't take your advice that time and I really regret it! Will not repeat the same mistake again. Once again, as with your other charts, you were right!
+1 Antworten
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