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