SUMMARY
On March 19th, Aeternity (AE/USD) was analyzed using Elliott Waves and Indicator. The below chart was posted showing that AE had placed five waves up (white). The correction looked very much like a Flat (3,3,5). The oversold state of the MACD was also noted as indicative of a turn or a trend reversal.
Since then, price swung upwards and screamed to as high as $5.49; pegging a 372% profit!! Not too shabby a return in less than TWO MONTHS!!! Now, take a look at the MACD (red circel). Would this be the time to be buying? IF you rode this up from wave 1 or 2 and current levels, is it time to be taking profits or buying more with open arms? Even if there is one more wave 5 higher, taking profits off the table is always the prudent and disciplined action. But such must be self made decisions!
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
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Elliott Wave Counting Tutorial #1
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