If you have that fear feeling whenever prices fall and you are long the coin....it's ok, it's normal. That's why for me, TA is a great tool to try and peak around the corner.
Here are my revised EW labels:
If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
BTC Wallet - 19gHMJc9wi9KkP47wokz8y4cFNgz1kAAUE
ETH Wallet - 0xf83641dbf1a53498eae6d0d568c969790da48a36
LTC Wallet - LU1mEw1LHvffoWf9VDEVdP7Day4jv6VLqu
EOS Wallet - 0xf83641dbf1a53498eae6d0d568c969790da48a36
Thank you so much! ive set my profits to what i want it has taken a lot of the edge off.
Thank you @haejin!
thx for sharing
what indicators are you using for analysis?
Elliott Wave and Chart Pattern Recognition
thanks
Since wave 2 broke 1 would that mean it was abc then 1 and 2 to come?
Update posted:
https://steemit.com/bitcoin/@haejin/ripple-xrp-update-correction-needs-to-finish-still-bullish
Thanks for the updated analysis..
I don't think it's bouncing they generated expectation of a big news, and it was news of an upcoming conference only.
Then it must be more news to come to make wave 3 of 5.
That's in October I think reading some of the content on Reddit.
That's what I thought! What do you think @haejin
I know what he will tell you. The trend begets the event, not the other way around. TA does not take into account meetings, or releases. Is it just coincidence? Well not according the theory. The idea that everyone sold their coins because they are having a conference and not announcing something huge doesn't really add up. It's a strong correction that looks horrific because someone dumped what they had all at once. Truth is, that's precisely when you want to ladder in.
@scarlet7 Thank you for the feedback, this has been really helpful, and it's what was kind of on the back of my mind, but as a newbie, fear and all other thoughts start kicking in which make any decision much harder! Once again....thank you!
While nothing is guaranteed obviously, letting the system work on it's own time is essential. Unless you're just hemorrhaging money from the downturn, and you wont have dinner tomorrow without that money....well first, stop doing this, but if you're just stressing the flux, remember that you don't get to pick the timing. Sometimes yes you get a great 10 minute flip and it's really fun, but most of the time you will be tempted to bail at a loss, just to see it follow form back up as soon as you do. Laddering your way in and out REALLY helps the fear of a bomb dropping, or opposite, the fear of walking away and missing a big, brief, price hike. I am in this one with alot of skin, bought more and more as people went crazy today. No way am I shorting myself, the needle is moving slowly on almost everything right now, look how long a big name coin like BCC has been floating.....everything is crawling like a bear right now. As long as BTC doesn't collapse, I still see the sleeping bull in XRP.
Hey! Thank you for the advice, really appreciate it.
I'm just watching XRP at the moment debating at what point to buy :)
now