Lumens had a great run up this month. For approximately six days we went from 3900ish to 5800 satoshis and some change. Not bad at all.
I have a slightly different count than other analysts regarding where we stand with Stellar Lumens--but our destination is the same. Up...
I am eyeing an area around 1618/175 projection for the highest probability zone for where, potentially, I could see my 3rd wave reaching--approx 8000 satoshis. For those that have that first attempt at an impulse in their count, targets are only slightly higher, around 8500. Unless its your position to not be so flexible, this is a good example of how sometimes a slightly different subwave count in the end does not make much of a difference long term.
Now with that said, could we just head up from here? Absolutely. That would cause us to rethink our analysis and relabel. Good trading is about minimizing risk because we will be wrong more than we are right. We will miss trades (like my ETH entry ;-)) and be stopped out. For me, and this is my opinion and technical strategy, I'd like to know that I am wrong as soon as possible. So that I can adapt my trade.
I'd like to see an attempt up (b wave) followed by more healthy correction and lower prices. Which I propose we will need in order to break through huge upside resistance and higher targets. I am expecting some volume from the 5000-5200 range for those bulls who are still trying to ride this up now. Longmoney is not one of them at the moment.
As always, trade wisely. And don't use my information for investment advice. Only education ;-)
Ideal Entry - 4600-4800
I have a slightly different count than other analysts regarding where we stand with Stellar Lumens--but our destination is the same. Up...
I am eyeing an area around 1618/175 projection for the highest probability zone for where, potentially, I could see my 3rd wave reaching--approx 8000 satoshis. For those that have that first attempt at an impulse in their count, targets are only slightly higher, around 8500. Unless its your position to not be so flexible, this is a good example of how sometimes a slightly different subwave count in the end does not make much of a difference long term.
Now with that said, could we just head up from here? Absolutely. That would cause us to rethink our analysis and relabel. Good trading is about minimizing risk because we will be wrong more than we are right. We will miss trades (like my ETH entry ;-)) and be stopped out. For me, and this is my opinion and technical strategy, I'd like to know that I am wrong as soon as possible. So that I can adapt my trade.
I'd like to see an attempt up (b wave) followed by more healthy correction and lower prices. Which I propose we will need in order to break through huge upside resistance and higher targets. I am expecting some volume from the 5000-5200 range for those bulls who are still trying to ride this up now. Longmoney is not one of them at the moment.
As always, trade wisely. And don't use my information for investment advice. Only education ;-)
Ideal Entry - 4600-4800