SUMMARY
On March 16th, WAX/USD was analyzed, despite being a new coin with little price data. The ABC correction seemed quite uncanny as the subwaves confirmed the higher degree of corrective count. I had also positioned the C wave to be at $0.10 target. As the second chart shows, this bottom target was near precision hit and since then price surged to $0.477 delivering 377% in profit!! Not too shabby!
The rounded price formation is drawn with the white arrow. The impulse waves have been labeled and the Cup & Handle pattern looks to be complete or about to. That means that once wave 4 or the handle formation is complete, higher highs are expected. Wave 5 target could be around $0.60 or so.
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Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
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Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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