Follow up idea to find targets for related idea (Trade entry: breakout of red trendline):
My view of the current price action is that we are in wave 3 of wave 5 of the uptrend.
Usually wave 5 extends wave 3 but in some cases its truncated and the rally ends earlier.
So the very bullish case here is a new all time high near 0.04 with a cup and handle before.
BUT there is the possibilty that wave 5 is truncated and not making a new high then we might looking for a target near the fib levels.
My view of the current price action is that we are in wave 3 of wave 5 of the uptrend.
Usually wave 5 extends wave 3 but in some cases its truncated and the rally ends earlier.
So the very bullish case here is a new all time high near 0.04 with a cup and handle before.
BUT there is the possibilty that wave 5 is truncated and not making a new high then we might looking for a target near the fib levels.
Catatan
20*4h consolidation bars about to expire soon Catatan
kraken adds xmr to its exchange blog.kraken.com/post/155126375697/kraken-launches-monero-trading
Catatan
next events to watch:2017-01-06: Fluffy talking at Coinbase
2017-01-09: Hardfork for ring confidential transactions
both dates start with a fresh 3day candle opening, which is my favorite timeframe for monero. (check 3day chart with ma20/bb20)
Catatan
increasing position here 0.0152Catatan
scaling out a bit, take partial profits to have ammo for potential etc rallyCatatan
ABC with adjusted wave count vs Wave 5, Catatan
ltc and etc stealing the show, secure positions in case of people swaping xmr to other coinsTrading ditutup: target tercapai
sideline here, gl everybody
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