SUMMARY
Waltcoinchain (WTC)'s correction can be encased into a symmetrical triangle labeled with abcde waves. IF this pattern is correct, then waves abcd seem complete with wave e still pending. However, once the full five waves are placed; breakout is to be expected. Two rounds of bull wicks can also be identified.
The blue circled abc waves show how this correction can be a corrective flat where the b wave is higher than the origin of blue wave a. Flats are often indicative of a correction that is intermediate in the progression of a trend. IF so, then a breakout would lead to higher highs and likely all time new highs.
Elliott Waves (white impulse) are drawn to project a probable future price pathway. The target could be $43.43 once wave 5 is placed.
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!!
--
--
