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RE: STEEM DOLLAR (SBD) Target $31.45
is it just me or did SBD break out below the right triangle on 'e'? That's not a good sign is it? gulp.
edit: the daily low was down to $9 but I actually think that was the 'bottom' before this breakout.
I agree. It was indeed too good to be true.
Don't be silly....it already is true and good. And it will get gooder and truer.
Amen!
I wouldn't worry too much. You can see on the C part of the same triangle it broke slightly below and rallied back easily.
Everything is still suggesting this baby is going to pop within days.
See the volume matching the bursts? You can actually match EVERY rise to decreasing volume....but those are the big ones......so what's coming next?
Bull flag alert!
So that's 2 bull flags on the back of each other? like a spring?
Jesus. Strap in.
licking my lips. Thanks for the volume comparison too. So when volume goes down, the price is more likely to rise? I noticed that bitcoin doesn't seem to have as much volume during some of these runs too. Appreciate it Scarlet!
When you see repeated patterns or fractals in a chart, volume can often confirm your discernment of the pattern. So...as a rule, don't buy based off of volume, but instead look for patterns like shown in the image I presented here and then look for confirmation from other possible indicators....in this case, yes, the volume decrease helps to confirm the pattern, they are actually mirroring each other so it is expected that the pattern will continue to follow through. You can often use the MACD to compare the trend with the waves and find fractal relationships there too. Use these methods for confirmation of your counts and pattern recognition rather than as your signal to buy or sell alone.
I'm realizing more that the patterns/indicators are so much more reliable than anything else. I think today might be the day for SBD scarlet.
All abbooooaaaard!
You should learn both chart pattern recognition AND Elliot Wave theory....or CPREW as I like to call it. The combination of the two is what provides such a power trading perspective. hehe.....I found some folks who sold me their SBD for 5-6 bucks yesterday.....so I took the 100% profit as a good time to exit, but I won't lie....I wish I had some more right now. Steemit Payouts coming soon though! I don't see it slowing yet.....just the opposite. Looks like the correction will finish today or tomorrow.
doing both. any recommendations of free resources? I've ordered the books Haejin recommends. I'm basically a beginner though. Thanks again!