In a nutshell, there are 5 consecutive waves degree is indicated Censof is uptrend, recencr correction downtrend/consolidation was ended with wave abc, Today substantial volumes kick in and break immediate resistance at $0.455. this is indicate Position and future trader were joined/joining the ride.
I was in and average buying price at $ 0.450, I am anticipate prices is heading to $0.510/$0.570/$0.620.
Immediate support is at 0.450 which is offer buying opportunity for me, My Stop loss is < $0.420
I will apply trailing stop when prices reach $0.510/$0.570.
Below is the various trade plan for difference type of trader investors for reference base on Elliott wave counter
Institutional Investor Plan
Action : buy, 5 wave degrees uptrend
Type signal : RETRACE, aggressive
Applies to : Institutional Trader (Primary)
Conservative Target :0.70
2nd Target :1.12
Exit Alert :<0.290
Institutional Trader Trade Plan
Action : buy, 4 wave degrees uptrend
Type signal : RETRACE, aggressive
Applies to : Long term investor (Intermediate)
Conservative Target :0.785
2nd Target :0.850
Exit Alert :<0.290
Med Term investor Plan
Action : buy, 3 wave degrees uptrend
Type signal : Breakout, conservative
Applies to : Med Term investor(Minor)
Conservative Target :0.640
2nd Target :0.780
Exit Alert :<0.420
Position traders Trade Plan
Action : buy, 2 wave degrees uptrend
Type signal : Breakout, conservative
Applies to : Future traders(Minute)
Conservative Target :0.510
2nd Target :0.570
Exit Alert :<0.420
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Created by mwong3 | Nov 21, 2020
Created by mwong3 | Nov 18, 2020
Created by mwong3 | Nov 18, 2020