SUMMARY
The below chart shows how IOSToken (IOST/BTC) declined in an ABC three wave and the rounded bottom formation's right wall side is also nearly complete. The upcoming correction of almost 50% is shown by the parallel channel lines.
Adding the Elliott Waves shows the blue impulse of five where the 5th is already or about to complete. The MACD is indicating that perhaps blue wave 5 is already done but pattern symmetry shows a little higher could be more likely. The white parallel lines indicate the handle portion and this usually retraces 50% or more of the right wall height.
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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?
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