SUMMARY
ReddCoin (RDD) has broken out of the triangle patterned correction. However, is it decisive? Price has been goin sideways and so likely consolidating before the surge upwards. There are times when the price surge is almost delayed, even after the initial breakout. As the current minor consolidation ends, that surge could be seen.
That surge could come in the form of a wave 3 (blue). The price would ideally exceed $0.00735; in other words, put in a higher high. It would be best fit for a wave 3 to enable this price action. Once this price level is breached, the nature of the breakout would become more impulsive and more genuine it will become.
Legal Disclaimer: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
Follow me on Twitter for Real Time Alerts!!
Follow me on StockTwits for UpDates!!
--
--
