Lisk LSK Jan 13 Technical Analysis. Lisk quietly does 800%. What Next? Consolidation then $46.00

Lisk Quietly Does 800%. What Next?

LSK has been on a quiet rampage and no one even look its way. We can see 5 elliot wave possibilities with only wave 3 currently completed, with wave 4 forming and currently in the wave B process.

The below is just an example of a typical zig zag that can occur. We are waiting for wave B and C to form, which can allow us to time our entry for the next upcomining wave 5 possibility, provided it does not fail on impulse.

We also see a channel forming on high time frames with critical support. Therefore, it is safe to assume many people will play a long bounce there which gives case for a possible ABCDE correction.

If an ascending or symmetric triangle does not form, there is possibility to drop to a descending triangle.

Or possibility an even lower tier level of support.

Assuming a scenario where extended corrections do occur, based on previous price action and general bullish market sentiment, where we reach a lower level of support, up to 0.618 region, find support, and bounce. Then we start a possible wave 5, which I must emphasize may fail to start extended WXY corrections, but nevertheless, the target stays $46.00 if the impulse wave does successfully start.

Always be cautious, take high probability trades, plan entries and exits, stick to high reward low risk R:R setups. Good luck traders

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I'm not a financial adviser, nor am I giving you any tips on when to buy, sell, etc. I'm simply stating my opinions and what I personally look for. Those that follow my trades blindly and don't understand risk management, will always lose over time. I manage risk differently. Not all trades are winners. We manage our risk with stop losses and win over time. Even if we've entered at a similar price, I can micro manage my risk, by shedding, adding, reducing, etc, but those calls aren't made. Therefore despite entering near the same price, I may come out well ahead while you may take a loss, even if we exit at the same price when the market goes against my call. Remember, I always profit OVER TIME, and am not focused on winning every single trade. As long as we win more than we lose over time. I want to be very clear so you understand the outcomes will always be different even if we take the same trade. I MANAGE RISK and see this game as a probability. Therefore, be forewarned.