SUMMARY
Siacoin (SC/USD) is a clear example of how an extended 5th can lead to a retracement as deep as the prior wave 4 and even 2. When price goes vertical on a daily scale as seen on below chart, incremental profits are taken. Vertical moves are not possible to Elliott Wave count very well given lack of sepration of price bars. The subsequent ABC waves are not done and may not until prior wave 2 levels.
The 4 hour chart helps clarify the details of the subwaves. The horizontal line is the prior wave 2 level and on the Fibonacci scale that'll equate to the square root of 0.88 which is the 0.939 level. Yes, extended 5ths can result in this level of deep retracements.
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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Are we in a possible channelled ABCDE:
I am new comer, please help me friend
Thanks for the information
Your information is very useful for stemian around the world. interesting information @haejin
I like this coin, i have a few. it will do well when bitcoin reverses.
Thanks for this information and great value. I just hope for the best to all cryptos. Nice
personally I do not like this coin!
Any coin that would increase my wallet, I invest on.
Great information passed out here @haejin
https://steemit.com/criptocurrency/@jos3lider/goldman-sachs-cryptocurrencies-and-venezuelan
Dear @haejin
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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.
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Thank you!
Wow amazing post
Coins mentioned in post:
Congratulations, your post received one of the top 10 most powerful upvotes in the last 12 hours. You received an upvote from @ranchorelaxo valued at 146.87 SBD, based on the pending payout at the time the data was extracted.
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With all the mining of SIA, it's only a matter of time before it makes some lunges up!
I even could say that..you are a big boy you can do TA right!!!
Flagged. Disagree with exorbitant rewards.
I had high expectations for Siacoin. They need to learn how to under promise and over deliver. Still...I plan on picking some up is it drops another 5%.
+ranchorelaxo
Pending Payout
$150.15(75.08 SBD, 31.99 SP)
in 7 days
That must be a happy life :-)
Bull shit !!!
Better check my posts !
;-)