TRON (TRX/BTC): ABCDE Nearly Complete
The TREE COUNT for Shorter Term Traders:
The symmerical triangle consolidation has certainly played out the "Hurry Up & Wait" scenario. The lateral symmerical triangle is at a state where price is quite proximal to the apex. Often, breakouts in such conditions provide a sustainable uptrend reversal.
The abcde red waves delineate the corrective waves which might be complete.
The nature of a correction allows a trend reversal and it starts with a decisive breach of a pattern and then an impulse round of waves. The abc can be seen as already or nearly complete. If this is the case, then an impulse (white) waves can be traced as shown.
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
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
Follow me on Twitter for Real Time Alerts!!
Follow me on StockTwits for UpDates!!
--
--
We should be used to the roller coaster ride if we are trading in crypto, Tron is not exempted in this avenue. As @haejin discussed, the triangle pattern nearly complete then aftr that will be the usual rise of the coin. Its hightime now to own a considerable amount of TRX. 👍
There is no any triangle pattern on Tron if you watch the chart on other exchange:)
But I agree with @haejin due to upcoming move up:)
https://steemit.com/cryptocurrency/@andriustovis/tron-update-big-move-up-is-coming
Not sure exactly how your ABC works; but if Elliott Waves based, then the channel would usually have abcde.
I'm not 100% Eliot wave trader. My abc is corective structure of 2nd move as you showed, but here could be a bigger abc corective structure with abc in the middle. Not always you will see 1,2,3,4,5 moves up as Elliot wave theory says, sometimes it can be just 1,2,3 corrective move.
Why all your analysis are so optimistic?
#BTC continued its decline and is now trading near the $ 9800 mark.
There is a possibility that the cue chart, like all crypto currencies, formed the "bubble blow off" scheme. This has already been two times: a fall from $ 32 to $ 2 in 2011, and a fall from $ 1175 to $ 230 in 2014.
Now 2018 and I'm guessing blowing from $ 20,000 into the $ 4000-5000 zone. Yes, there is a future for bitcoins, but realities at the moment are not the most positive. As they say, everything is cyclical. And now. The market punishes the weak and greedy players.
From a technical point of view, the trend is still downward, the trend line is not broken, and therefore further decline looks very logical.
Yes, the critical juncture is for he upper trend line to be breached. IF the inverted H&S pattern completes and confirms with Neck Line breach at $12k; it'll be ideal!
Keeping powder dry and frugally laddering into lower lows would help provide better psychological and emotional balance.
You just made my day I got in at 3cents during the infamous dip
I hold some tron, a lot of people say sale it, I didn't even sale it when it was .30 cents. I should've but I'm holding it for the long run.
Please let this end...Tron will rise like the phoenix it is....
Agree with you:) https://steemit.com/cryptocurrency/@andriustovis/tron-update-big-move-up-is-coming
after march Bitcoin price will improve
After March, Bitcoin's price should improve. Though I do believe we may have at least one more major Crypto blood bath before a strong recovery. IMO. This blood bad at the moment seems like a mild correction.
What I believe is that those days are over when the BTC price was going up in every day. It will slow and steady now. Have some patience and relax. No need to panic in this short term up and downs.
Would love me some Tron mooning
haejin TA is like this pile of poo!!
Thank you
Thank you for keeping my hopes high on Tron.
Hope it rises soon!
It will, don't worry. You can check my analysis to feel better as well:) https://steemit.com/cryptocurrency/@andriustovis/tron-update-big-move-up-is-coming
Please don't advertise in my blog comments. I welcome all genuine inputs but advertisements belong in the Promoted section of Steemit.
Ok, won't do that again
$HTML please
haejin TA is like this pile of poo!!
I am always humbled and captivated by your sound and vivid explanations about cryptocurrencies.
This always makes me wonder, if I would reach that expert level in cryptos.
My bag is heavy but I am optimistic with your TA on this coin.
haejin TA is like this pile of poo!!
You have actually giving a piece of training for trading. I of many people who would have and are paying an arm and a leg just to get information like this. I f they were to come to steemit and follow you I'm sure they would receive way more value then they do right now.
As long as we are giving him up votes; it almost like paying him but with steem dollars!.
True but he's giving first and we are choosing to pay him because he's giving good advice
If you want additional educating information, check my profile! Here is my view on Tron https://steemit.com/cryptocurrency/@andriustovis/tron-update-big-move-up-is-coming
Please don't advertise in my blog comments. I welcome all genuine inputs but advertisements belong in the Promoted section of Steemit.