Beware of Mooncounts - Market Analysis for Mar 13th, 2019

Spurned by some comments on the board, mostly in response to the TRX count, I want to write again, as I do often to be very wary of mooncounts. I do not put out mooncounts to tempt anyone. I do not put out mooncounts to suggest you can get rich quick. The worst thing you can do is think you can sit on a mooncount until it comes true. Far from it. Mooncounts are simply legitimate projections using the Elliott Wave Theory. They are also made legitimate by the volatile potential of cryptos. But that also makes them dangerous. More than all these things, they are roadmap for risk management...where to take positions, and where to take profit. And, they give stops. If you are thinking about not managing your trades because of a beautiful mooncount, you may get in trouble. If you prefer to trade in long term fractals, that's OK. There are long term stops and if not clear where they are, let me know. But long term stops can be very far from current price sometimes. So, that means your position should be sized to take that level. 

Ryan Wilday hosts the Cryptocurrency Trading service on ElliottWaveTrader.net.