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RE: Sentiment Speaks: Are Cryptocurrencies A Pump Waiting For The Dump?
I am following your guide very closely and when you write something it happens after two or three days :) very impressive.
However you have long term targets generally. I am thinking use your strategy for two-three weeks trades and jump to another coin.
Do you think that it is a right strategy to follow? I am not a good trader by myself but could advices in your writings.
Elliott works on many timeframes. I can't always say 'when' a trade will go. I only work on price levels, but just note you are not getting my stops here. I have to preserve some value for subscribers on Elliott Wave Trader, and they get the accurate targets and stops. I also do 15m Ether and BTC charts for short term trades, and hourly on many more. Don't take this as a push to join. It isn't for everyone. But good trading requires stopping out of some trades at a loss, as I don't always have it right. But the winners far outweigh the losers.
For example, the trade in Ripple...ideally holds .47 and that's the tight stop. Can go to .43 but ideally not. Below that I have nothing but air. The target is $1 before a top to as low as 33 cents in wave 2. So, you position a little around here, keep the rest for just above the stop at .44-.45 and you take much of it off at $1.That's how I try to teach my subscribers to use Elliott Wave, not just for directional expectation, but how to structure trading around risk management.