Key Principle - Market Analysis for Jun 12th, 2019


If you have a tendency to get FOMO in extensions and cautious in corrections, you need to completely flip your perspective. 

Now is the time to increase your long position over all. I'd avoid running out of ammo well above support as you might step out of too heavy of a loss. But that doesn't mean don't increase your long holdings. Just do it smartly. 

I'm mainly talking about mindset. This is the time...

In a bull market, a correction is an opportunity. 

I often sense the opposite on the board as people start running from big red bars, and so many requests are the runaway charts which are already played or have poor R:R because support is so far below. 

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