SUMMARY
It isn't common at all for a Cup & Handle to become invalidated. For Kyber Network (KNC), that's exactly what happened. What started out as the handle formation declined lower than the lowest part of the Cup pattern (horizontal white line) and thus invalidated the formation (circle). So, does this mean that there is no hope for KNC? Not at all.
Let's take a look at the downward symmetrical triangle pattern of the price...it's very near the apex. Now look at the MACD which looks all coiled and ready....ready for what? Would this be the ideal time for a price breakout or a collapse? Technical Analysis helps to self answer such questions.
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: 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!!
--
--
