SUMMARY
It's interesting to see an ICO start off its genesis as a correction! That's pretty much what aelf (ELF) has been doing since late December, 2017. However, like most corrections, it will end and chart pattern with Elliott Waves are the tools I use to identify potential terminal ends of corrections. Why the terminal ends? These zones are most usually the most ideal times to cast entry ladders. The below chart shows a Head & Shoulders with the Left Shoulder (LS), Head and Right Shoulder (RS) all complete and confirmed. For me, a pattern must have completion and confirmation. When price breached below the Neckline (horizontal white), that was the price confirmation. The blue vertical line measures the minimum price travel and it points towards $0.59.
When applying Elliott Waves, the whole chart is a large ABC correction and when subdivided into parts, the final C wave shows a nearly complete impulse five waves down (white 1,2,3,4,5). Since C waves always have five subwaves, this is significant because if waves 1,2,3,4 are complete, then 5 remains as the last wave needing to be placed. This puts the probability of the terminal end of correction likelihood to be high.
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
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Essay: Is Technical Analysis a Quantum Event?
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@Haejin You do not provide any entertainment. I brought you some.
The impulse wave is moving down. Good to know about it. Great post though. Thanks for sharing this valuable information.
The first comment at your posting haejin
omg! what is that supose to mean?!
@haejin i made a request sometime yesterday i think, about Cardano. I have a friend who has some, but the drop has really been very deep for cardano, and she doesn't know what to do with it. Can you do some analysis on it.
Yes, will take a few days to get to it. Thanks for your patience.
Ok. I will just wait. Thanks.
Haejin - Any chance to get an analysis on BeanCash. It has been moving up. Thanks
100% downvoted. I disagree with your exorbitant, potential rewards.
The second publication in the series of promising currencies emerged:
https://steemit.com/verge/@jean77jta55/cryptocurrency-promising-2-verge-xvg
Hello Mr. Haejin,
I would like to know if you want to have a civilized discussion about why you and @starjuno flagged my latest posts.
Is it because i am tracking the performance of your advice?
I would like to say that i started to do it because i don't see you providing the results of your advices anywhere else, and i got curious of how good Technical Analyst you are, and started tracking your performance myself.
So far, on 4 days fell 19,16% of the invested value, while the same amount on BTC only fell 14,88%.
Doesn't look good so far. But it seems that you know that already, since you only downvoted the posts and didn't provided any insightful comment.
Don't worry. I will keep tracking your portfolio in real time, and also do some backtracking on past months as soon as i have some extra time.
Aren't you curious of how is your performance?
Have a good day.
To be rigorous you should cast ladder when haejin tells the bottom is in, then hodl until target are reached (laddering the sells of course). And knowing his post is for mid/long term investment you need doing it at least for one year.
That being said, haejin has always said he want to teach people, and that's why I follow his blog, I NEVER buy or sell just because of one of his post, I ALWAYS try to understand what he said and only buy/sell if I have my own TA. Of course he helps to see and understand things I do not see or understand, but that's the point of this blog, LEARNING.
Anyway, I do not think the sum of his buys are losing, at least over the long term, make your tracking for all this year and the 1 january 2019 we will talk. Cryptos are in deep correction, the majority of buys will be 'losing/break even' for some more weeks, but when it will rise it will rise big and fast. If not, it will be because BTC has failed and crashed, (going as low as 2k$ is not a failure because it can go back up easily, by crashing I mean being destroyed with a value of less than 100$), and we all know it just can't happen 😈😈😈😈😜😜😜😜
That is exactly what i wll be doing, but the backtrack take a bit more time. I Will start to some updates on his performance of previous months soon.
Then you are on the right track, but aren't you curious how his advice and teachings perform? I am, and that is why i am doing this.
If at some point in the future, if he gets a positive return, i might even consider learn from him too.
But here is something to think about: Why did he and @starjuno started to downvote my posts before even discussing how the tracking were being done?
Some Will, some won't. Technical Analysis is based on historical data, and most of the cryptocurrencies he do his analysis don't have enough time of existance to create discernible patterns and data.
Don't be so sure about it yet. There is a lot of coins that were created in the past that are dead.
Dear @haejin
You have been flagged via the flag-a-bitch app. The reason is you have been found to be Raping the reward pool with a rate of around 2.133% of the reward fund. To add onto this, your TA's are so horrible that a simple check with a mock portfolio will provide a negative value.
The flag-a-bitch app is being used on you because of your consistent blattant abuse of steemit through means of: abusive self-upvoting, collusive coting groups, and disagreement on rewards. Since we deem that you have been damaging the steem economy, we flag you.
If you would like to help us out with our quest to fight abuse you can check out our post here.
Thank you!
Flaggedthis post because this voting ring is abusing rewards from steemitFlagged your comment because you just made me lose 5 seconds to read it 😸😸😸
100% downvoted. I disagree with your exorbitant, potential rewards.