SUMMARY
Are you nervous about STEEM back at $0.90? Don't be...why? Because of this:
Yes, Cup & Handles are slow patterns to complete and confirm but they also provide the most sustained rallies, once confirmed with a breakout!
One trait Technical Analysis will instill in you is emotional maturity. The discipline to be calm and serine amidst a crow of the panicked. Why? Because Technical Analysis allows a probable peak around the corner of time. Remember, Technical Analysis is nothing more than a way to identify as many possibilities and from them identify the most probable. This is also why possible is not the same as probable.
Now here is a shorter time frame for STEEM. I'm combining Elliott Waves with Chart Pattern Recognition. I believe the upper white line of resistance will be breached. This correction is to wash away the weak hands, those who are too afraid and already panicking. So, what to do? BTFD!
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
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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Legal Mumbo Jumbo: 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.**