SUMMARY
Monero (XMR) has had a beautiful run up! However, Elliott Waves states that after five waves, there is a requisite a,b,c retracement! To that end, the below chart shows how the a,b,c correction price pathway might look. Usually, the c wave retraces as low as the prior wave 4 and that at around $85. So, now is NOT the time to be BUYING Monero but rather it's time to be taking Profit SELL actions. Ladder out and take your profits gratefully and humbly, without a hint of greed! I often ladder out 30% to 50% of position and use the proceeds to ladder back in at the terminal end of the a,b,c correction. The remaining 70% to 50% of position allows me to still gain should prices continue up for a while.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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Legal Mumbo Jumbo: 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.**