This one is doing terrific, and I think its best (that is, worst) days are yet to come.
A few possible shorts to consider for the week ahead………
By Avi Gilburt, ElliottWaveTrader.net
Ryan Wilday is our newest analyst. When we found him, he had already been trading over two decades for a supplemental income, but without the Elliott Wave Theory. He was a quick study in the theory and soon was producing professionally accurate wave counts, according to our method- Fibonacci Pinball. Ryan was also an early adopter of cryptocurrency and trading the new asset class.
His life started to change in August 2017 when I brought him on staff at ElliottWave Trader to lead our cryptocurrency analysis team.
For the first few months, his new life was very quiet publicly, until he made a very timely call. In mid-October 2017, he made a call for STEEM, the currency of the Steemit social media site, to reach $5, perhaps by January 2018. The price at the time of his post was 92 cents.
A couple of guys from England — the hosts of the CryptoNights videoblog on Steemit — saw the post and interviewed him. This is where his work first came to public attention. While he’ll admit his timing was intuitive, he stood by the price target, which was an important Fibonacci level in his ElliottWave count for STEEM. STEEM first hit $5 on January 3, 2018. It moved on, topping at $9.24, before starting the correction we now find it in.
The following monthly chart of EUR/USD shows that the Euro has risen to a resistance level (1.2500) at the upper edge of a downtrending channel that began during the 2007/08 financial crisis.
Its next resistance sits at 1.3055, a major Fibonacci resistance level taken from the 2000 lows to the peak prior to to the financial crisis. Fibonacci support sits below at 1.2134.
Momentum is in uptrend on this timeframe and still rising, but has yet to match the all-time high set in March of 2011.