Eball8
Long

Reddcoin - Long-setup & Targets

BITTREX:RDDUSD   ReddCoin / Dollar (calculated by TradingView)
So, it's time to start a new Reddcoin post. I was saddened to see that Reddcoin lost it's momentum and there was a verified wave 1 months ago that validates this as a complete 5 wave structure.

I'm expecting this to correct for the next month or so, I'm also expecting this to correct in the form of a wedge . I will only activate the trade if it remains in our Bullish zone on the Daily RSI over that time. But I'm expecting this correction to take us near the 1 cent mark once again. The MACD is diverging bearishly, and it is likely to finish correcting when the MACD is on the way back up. But I do not expect this correction to be all that quick.

I will activate when I enter.
Kommentar:
snapshot


Alright guys, you know when I start doing crazy things like this it never usually works out LOL. But notice the similarities between these two drops so far. I'm going to assume the same and target that 8 cent mark for my entry level. I've noticed that each wave is about 2.5-3 times longer than the previous correction I'm basing this off of. So I think we may be getting our next wave up toward 6.6 cents in maybe 11 days or so! GO REDDCOIN GO
Kommentar:
snapshot


Possible path for Reddcoin. Still more correcting to do, but I think we're a bit too oversold here not to see a nice bounce in the next few days.
Kommentar:
snapshot


We're are following the pattern targeted in the picture above. Here are 3 targets I think it has the possibility of hitting on the way up. Keep you're guard up with the coin, however. I've never quite seen it form a triangular corrective pattern. So this would be a first. Targeting the "Bull" target is a risky play, however. All targets are simply fib levels.
Kommentar:
snapshot


Guys, I like this risk to reward set up A LOT. So I'm seeing a bullish flag appear here. I would like to enter around the bottom of this triangle if it stabilizes. I think we have a very nice target for a near 60% gain. And AS SOON, as it falls from this support level, i'm either exiting the trade, or not entering. Let's see how this formation plays out.
Is it possible to give an update plze? ^^
Antworten
Eball8 PatrickvanDijk
@PatrickvanDijk, Can do!
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@Eball8, Thanks a lot!! Can you explain a bit about the W,X,Y? What does it mean? Greetings form a newbie ;)
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Eball8 PatrickvanDijk
@PatrickvanDijk, Well simply put, an X in a WXY formation can mean a "failed breakout." I think people may think that Reddcoin is about to breakout, but I think it will correct for longer after that.
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@Eball8, Ah ok... good to know. I still have some RDD, so I will try to get out in time. Thanks for the heads up. Really great work... i hope to learn a lot more form you and other traders.

Good luck!
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Awesome work!
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Eball8 Titan86
@Titan86, Thank you!
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Do any of you know where I can purchase some reddcoin?
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Jerrybels curiuos1
@curiuos1, Cryptopia for example. You can always check what exchange has a coin using coinmarketcap, also. https://coinmarketcap.com/currencies/reddcoin/#markets
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kaven31 curiuos1
@curiuos1, bittrex
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