Hallo Haejin, thank you for this update. Related to your latestchart on VERGE, the fifth subwave of the blue wave 1 went to 929, an extended fifth? Can blue wave 2 in your most recent chart be expected to retrace to fib 0.618 or more likely lower?
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Here is my chart, the subwaves of blue 1. Blue 2 could retrace to prior 4. Vertical is never sustainable for long.
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I just posted about the same thing. Thanks Haejin! I was going to buy back in because I sold low yesterday thinking we hit the top of 5. Trying to trade at the 15 min mark takes too much effort. I am now going to stick to the 1 hour chart.
I also missed the very top of wave 5, but still able to accumulate quite nicely near bottom of wave 2.
I am making a note for myself to always clear off my chart and reanalyze and don't be in a rush to sell or buy. EVERYTIME I rush I end up regretting it. Human emotion sucks in markets lol
Don't forget though, Haejin relies solely on TA, and typically forgoes incorporating fundamentals. The price surged on partnership rumors, and the announcement isn't planned until April 17th. I'd be VERY surprised if we saw a retrace that deep prior to April 17th. Strong community behind it, and XVG has been resilient even in the face of a recent BTC nose dive. If it breaks below 640 in the next 2 weeks I'd be surprised.
XVG is on fire. The current correction might be a flat as it looks 3 wavish. If that is the case then we could expect to see the bottom some where around near the bottom of the last drop (813). I sure hope it retraces into the 750 range so I can't at least get my position back.
Thank you very much, Haejin! Nice to see VERGE make this move.
Hey, How to trade vertical moves ? I would say sell everything at the top and wait for the price to correct. If the price goes back up and above ATH, buy back everything. This way, you don't miss much if the price goes up. However, If it doesn't go up and retraces back, which is what we want :P, then you can buy back at lower prices. Hope this is helpful.
That's exactly was my problem with Verge yesterday. I thought we were hitting that top but Verge had a different idea in mind. I am sure you could use Fibonacci but in cases with huge verticals I think it's just the luck of the draw. I am going to stop trading the 15 minute charts and use the 1 hour charts. 15 minute charts seem to hurt me more than help when I trade them.