PLAY IS NOW OVER --------------- NOVEMBER 18 UPDATE
We have successfully reached my buy zone, and have hit target within $0.10.
Congratulations to everyone that got in.
Update Over ---------------------------------
Another great long setup with low risk, high reward. Based on elliot wave counting, we're finishing up the 3rd wave, starting the 4th wave correction. Once wave 4 is completed, we will start our 5th final wave to hit target extension 1:1. A possible 1.618:1 extended 5th wave is possible. Though not likely based on the strength exhausted on the 3rd wave up.
Watch the 0.382 fib level carefully for this wave 4, as if the bullish sentiment continues, we may hit that level only where we will find the best entry price there.
FLIP A COIN OVER
TEN GAMES EXAMPLE
OUT GAMES WITH RR 3.47 :1
WON 50%, LOSS 50%
EACH WIN = $347
EACH LOSS = $100
5 WINS @ $347 = $1735
5 LOSSES @ $100 = $500
PROFIT = $1735 - $500
TOTAL PROFIT = $1235
RISK TO REWARD 3.47 :1
ENTRY PRICE $33.35-$36.53
TARGET 1 = $44.52
STOP LOSS = $32.258
PROBABILITY = 80%
CHAIN TO GAIN = 27.2%
CHANCE TO LOSE = 7.85%
TIME FRAME= 5-7 DAYS
Please always remember we trade using probability and not all trades are winners. We manage our risk with stop losses and try to win over time. Those that don't understand this, and expect only to having winning trades, will always lose money over time.
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The ultimate goal is to help the crypto community because I think there's a lack of these type of videos. I want to share everything I've learned because knowledge is only power if passed on. These are educational videos intended to teach how to think through thought-out rationalization.
DISCLAIMER:
I'm not a financial adviser, nor am I giving you any tips on when to buy, sell, etc. I'm simply stating my opinions and what I personally look for. Those that follow my trades blindly and don't understand risk management, will always lose over time. I manage risk differently. Not all trades are winners. We manage our risk with stop losses and win over time. Even if we've entered at a similar price, I can micro manage my risk, by shedding, adding, reducing, etc, but those calls aren't made. Therefore despite entering near the same price, I may come out well ahead while you may take a loss, even if we exit at the same price when the market goes against my call. Remember, I always profit OVER TIME, and am not focused on winning every single trade. As long as we win more than we lose over time. I want to be very clear so you understand the outcomes will always be different even if we take the same trade. I MANAGE RISK and see this game as a probability. Therefore, be forewarned.