SUMMARY
During a correction, the future always looks more bleak. Especially if you're in a position of zero cash to take advantage of discount shopping potential. Regardless, once this correction passes, as they always do; we can always learn form our mistakes. I've always said that a good trader is a bad trader who forgives himself for his mistakes, learns his lessons and tries again.
This chart of NEO depicts an alternate pathway as shown by purple lines. Triangles are often favored by Altcoins because they take a long time to complete; much longer than a zigzag or a flat. The white a,b,c,d,e pathway shows a correction of sideways price going until perhaps early March. This would certainly fill the need for the Hurry Up & Wait scenario. I've still added the larger abc (red) trend IF price decisively breaches the lower purple support line.
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?
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