BCH correction wave continues

BITFINEX:BCHUSD   比特幣現金 / 美元
We have got at least two reasons for the correction to continue.
1. Double top which can bring the price to 0.786 fib
2. All Ichimoku indicators are in the cloud which means consolidation and also some bearish signs => price slowly going down.

We have two pivots (support) you can see on the left hand side of the chart with a green arrow pointing towards them, the correction can stop at any of them so could be 0.618 fib or 0.786 fib.
If it bounce back up and the chart looks promising I will post the targets and will go from there.
Keep watching...
交易進行: Update with targets
評論: Forgot the Stop loss: $1410.
交易結束:達到停損點: Stop reached last night. I'm out for now. I think this coin is better for shorts then longs. I will leave this coin alone for a while.
I actually had position open for selling at 1950

But I went just with a gut feeling which is never good. May I ask how you came to target 3? I can see target 1 and 2 easily but 3 I don't understand to be honest
pgarret Kandor1978
@Kandor1978, Institutions :) is a fib value as well.
pgarret EduardoCantelli
@EduardoCantelli, Thanks, the alerts tool saved me this time :)
Looks like the Fib 0.618 is where it will land

I like your work by the way, very nice and reasonable
pgarret Kandor1978
@Kandor1978, Thanks, just did an update.

please keep updating the idea :)
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