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RE: SunContract (SNC) Bullish 5th WAVE to come?
Did you count the subwaves?
If you look at the SNC/USD chart I counted the preceeding waves from the absolute bottom. This cycle should have the 5. wave remaining, and this cycle draws up to be the second wave of an even greater cycle.
In my opinion :)
I did. I used 15m chart to look for subwaves. It was a bit tight when it comes to 4 not overlapping with 1, but it passed. I guess it is bcs strange pricing at HitBTC SNC/BTC pair... I cannot post the chart now, I can't with phone. I can post it in few hours.
Also another thing, I checked HitBTC now, and I think this correction might go more of 5-3-5 than triangle. But I am not sure if it makes any difference.
Probably the outcome will be more or less the same. Seems most coins are cheaper on Hitbtc, a little different sentiment than on the main exchanges.
So this is my chart. I started the wave one after initial downtrend of SNC ended. And don't mind the right side, of the chart, my first try to understand that correction failed hard. I was way too optimistic :D
And I think most deforming thing is that you can put only minumum of 100 satoshi as a price in SNC/BTC pair. So the price jumps 100 points like crazy.
And this is alternate zig - zag correction. As of now, it seems legit when I look where SNC/USD had moved.
The funy thing is, I think even thou we did chart in diferrent way, target is basicaly the same. I would also guess around 1,4 USD.
I think the first wave from lowest low happened 24-28 october, a month earlier than your 1. Divided in two cycles and a correction like I did you can zoom out and you see the cycles forming 1. and 3. waves of a greater cycle. This means even more profits after our target is reached.
Yes, there is many ways to rome obviously :)
Actually, I also started 23rd october. But 1 hour chart didn't loaded that far in history, so i just started wave 1 at price from that date. In the end, it is about the price step and time is not important. (I think I learned that from on of your comments.) Definitely where the downtrend of initial listing ended.
Many ways to Rome, yes :D
And a lot to learn for me.
Thanks!
I usually start in 1day chart, draw the waves as I see them there. Then zoom to 4 or 1h and count the subwaves to confirm or correct the greater waves.
We both got a lot to learn, but sharing and discussing is like learning in fast lane :)
Absolutely. :)