Swing Compounding - Market Analysis for Nov 6th, 2019

Think about the power of this. 

I bought 2 units of GBTC averaging roughly $8.90. (units is just generic for tranche so I don't reveal the funds I'm trading with). 

I sold one today at $11.45. 

I hope to buy 3 units at 10.46, and 3 more at $9.05, that may change if price warrants. Some of this profit is expected from other trades in gold mining.

If ll goes well, I'll sell 4 units round $20-$21. 

Then if all else goes a planned I'll add back 8 units between  $10-15 so and so forth....

Whoah. 

Point is you an start small in an early swing, and build on it with less risk as the trade develops. But it is important that you hang on to some position and not go all in and all out as surprise upsides are normal when a market keeps attacking resistance. 

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