Last week, on Friday, I re-entered my position on the long side of COIN. I bought 40 shares @ an average price of $301. Looking at the extended hours trading tonight, price is currently changing hands for $333.50/share. This means in my little position, I am up $1300 on a trade I was risking $200 for. I am always very picky with my trades, and it is for this reason. I don't need to trade every move the market makes. I only need to trade the high risk/reward ones. Things could change by the time market opens tomorrow, but as of now, I am already up almost 30% this year. That is by only making a handful of trades in only half of the year. As I constantly stress, patience is key in this game. Imagine 30% profits year-over-year. This is generational wealth when done for long enough. That is taking a $40k account to about $105 million in 30 years. If done for 40 years that equates to $5.2 BILLION. Do you have the patience to make 30% per year for 40 years?
My analysis currently suggests we are on the way up to the next target box that goes from $386-$422. This is the 0.618-0.854 of the minor A wave. The box is where I intend on exiting this position. If I can manage to hold onto these shares, and if price makes it to the target box, I am looking at a profit of about $3500 or 29%.
Minor A wave took about two weeks to complete. If minor B lasts for the same duration, we should conclude this move by the end of August. Don't forget, this is minor B wave according to my count, and thus, can last much longer and become very complex. Time will tell, for now though, I will concentrate on the upcoming week.
My analysis currently suggests we are on the way up to the next target box that goes from $386-$422. This is the 0.618-0.854 of the minor A wave. The box is where I intend on exiting this position. If I can manage to hold onto these shares, and if price makes it to the target box, I am looking at a profit of about $3500 or 29%.
Minor A wave took about two weeks to complete. If minor B lasts for the same duration, we should conclude this move by the end of August. Don't forget, this is minor B wave according to my count, and thus, can last much longer and become very complex. Time will tell, for now though, I will concentrate on the upcoming week.
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Bonam Fortunam,
--Tyler
Bonam Fortunam,
--Tyler
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Go to ewtdaily.com for DETAILED DAILY UPDATES on 27 unique tickers and a daily zoom call with members to discuss latest analysis and get a 7-day FREE trial
Bonam Fortunam,
--Tyler
Bonam Fortunam,
--Tyler
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.