Personal Tradeplans - Market Analysis for May 30th, 2019


All- It is times like this that I get a lot of questions of the personal strategy nature. Remember I am not a licensed advisor. Nor, do I know anything about your personal situation. Given the legality issue, I dodge the question like the plague and move to general approach. There are many ways to manage these corrective waves. You can ride through, you can reduce, you can hedge, you can sell all. What you really need to do is look at my support, calculate your 'in' and decide if you can handle stopping out at a loss at my last ditch support. If you can't, you reduce, sell, or hedge. Keep it simple that way. Also, given that I have been warning that we are overdue, ideally you were thinking less about squeezing every ounce of profit out of this and a bit more about what you'll do when the crap hits the fan as it could have any moment. 

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