POWR/BTC Long After Consolidation Period
A relatively new coin with long upside potential. However, as a trader, I could care less about fundamentals. The mantra: Trade it until it fails. And since its inception nothing but clear signs of technical trading. POWR is following the Elliot Waves perfectly.
With that being said, due to a leading diagonal after the first wave 5 completion (the 2 overlapping the 1), we have yet to put in the larger degree wave 1. I see us now in an ending diagonal of the larger degree wave 2, subwave 5 (which I propose has yet to complete). What does this mean, well if the count holds, we are headed to much higher prices further down the road. That being said, I am on Long on POWR. Initial targets are green boxes.
I will post updates and updated targets once consolidation nears its end. But keep in mind. Once wave 5 completes, this is still only the 1 wave of the largest degree. Pay close attention to the support line.
Updates coming soon.
As always, I am wrong more often than I am right. This is not trading advice; only technical analysis for myself. Trade wisely.
With that being said, due to a leading diagonal after the first wave 5 completion (the 2 overlapping the 1), we have yet to put in the larger degree wave 1. I see us now in an ending diagonal of the larger degree wave 2, subwave 5 (which I propose has yet to complete). What does this mean, well if the count holds, we are headed to much higher prices further down the road. That being said, I am on Long on POWR. Initial targets are green boxes.
I will post updates and updated targets once consolidation nears its end. But keep in mind. Once wave 5 completes, this is still only the 1 wave of the largest degree. Pay close attention to the support line.
Updates coming soon.
As always, I am wrong more often than I am right. This is not trading advice; only technical analysis for myself. Trade wisely.
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POWR doin what it i supposed to do. Consolidate :-)
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Will be using my profits from XLM and ADA to add to POWR position
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Eventually we get through. Stop can be super tight. I'm adding.
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Got my fill...
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Sorry people. Once again, wrong chart pasted. Here is POWR
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Cleaned up chart. Updates coming later
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Buy order filled
://www.tradingview.com/x/5i0FbmQz/
://www.tradingview.com/x/5i0FbmQz/
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Qualify your pivots for expected targets and zones of resistance.
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I see all red today...
As panic set in, the market begins to recover before I would even make my breakfast. Or read the latest FUD (takes me only a minute to skim don't worry)
POWR definitely was shorted and buyers came in straight at the 236. Or excuse me, BTC was shorted. Regardless, I do not trade (only analyze BTC). So for me, POWR was shorted and rebounded from a hard dip like most of the stronger ALTS.
Will update this later in the week. My outlook is bullish.
As panic set in, the market begins to recover before I would even make my breakfast. Or read the latest FUD (takes me only a minute to skim don't worry)
POWR definitely was shorted and buyers came in straight at the 236. Or excuse me, BTC was shorted. Regardless, I do not trade (only analyze BTC). So for me, POWR was shorted and rebounded from a hard dip like most of the stronger ALTS.
Will update this later in the week. My outlook is bullish.
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Let me clarify. When you see confluence from your reverse fib pulls you ladder in. You must look up and down at your fib retracements.
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My alternate count if I'm stopped out. Moved over red box. This violates my original move. Leverage another entry a possibility.
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Did get the 7200 like I wanted. Should've waited. Better risk/reward. Lesson learned.
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Cleaned up.
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Stop for POWR raised to looks like 7466
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Apologies on the wrong chart. Smh. Still early in my timezone.
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Lesson of the day with POWR. Huge potential upsides. Time your trades to get an even better entry. Algos are definitely in.
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POWR is shallow. Expecting much higher targets.
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Should have enough impulse from BTC short to push through those tops. Target?? I'll partial and let it ride. Look for indecision.
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Could diagonal and hit hot box in green. I'll add to that all day!
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Current odds...
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Assuming a second subwave at the 50. Expect front run and stops is correction continues.
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*if correction continues
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To clarify, when I said could diagonal, I am only referring to the A wave and not invalidating the larger degrees. Just wanted to clarify that so no confusion.
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Vegas wave as well
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Got new monitor. Should fix issues of pasting wrong charts. Apologies for the mess. Learning process.
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Will update most likely in evening.
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I am wrong more than right
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4hr
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That 10k sell wall smh...
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50k sell order at 9500...
Can't wait for Tradingview App smh. Sorry no source on that
Can't wait for Tradingview App smh. Sorry no source on that
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Another 121k smh... Sharks
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POWR, POWR, POWR...
The count has been extremely difficult trying to get a take on ideal entries--as I still remain Long for putting in the 5th of the largest degree. A slight cushion on the stop as wicks are showing themselves.
With that said, POWR has remained quite strong in this correction, and handling the sell walls as a bull should. Even so, diagonal after diagonal makes this one tough to anticipate.
Once targets hit, and by that I mean, if they do hit. I will be Long again at the golden zone (50-618) of its full correction.
Trade Wisely people!
The count has been extremely difficult trying to get a take on ideal entries--as I still remain Long for putting in the 5th of the largest degree. A slight cushion on the stop as wicks are showing themselves.
With that said, POWR has remained quite strong in this correction, and handling the sell walls as a bull should. Even so, diagonal after diagonal makes this one tough to anticipate.
Once targets hit, and by that I mean, if they do hit. I will be Long again at the golden zone (50-618) of its full correction.
Trade Wisely people!
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Lower alarm hit. Wick. Just under 9000. Very close...
Not liking POWR, might get stopped out. Feel that the market still wants a 5th--and not truncated. Count is messy. Definitely is holding somehow.
Not liking POWR, might get stopped out. Feel that the market still wants a 5th--and not truncated. Count is messy. Definitely is holding somehow.
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Considering reducing risk until can make some sense of this. That is, if I'm not stopped out first lol
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Similar path as ADA. However, looking at full history, much higher percentage gains could be probable. With a tight stop, I don't see how more people are not in this trade.
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Update for POWR. Still sideways action. Stop has not been triggered. Letting the market unfold for more information.
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Count is becoming difficult on the smaller degrees. May have topped.
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POWR update as I feel its neglected, like ADA. Is our Primary 1 in--hard to tell. Trading this primarily off risk/reward, and diagonal followed by diagonal (implying much higher targets Long term). Here's where we stand. Sideways.
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Why doesn't longmoney buy breakouts? Because the market runs in two directions, with regards to resistance and support. My pockets are deep enough to play both. And I look for confirmation
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Apologies my pockets are NOT deep enough lol.
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New POWR chart incoming