Hi, you mentioned that you think STEEM may drop to the $0.20-0.40 range. Doesn’t it look like it wants to be done an abcde triangle correction? It looks like a nice set up but I agree it will fail it if BTC drops a lot.
Hi, you mentioned that you think STEEM may drop to the $0.20-0.40 range. Doesn’t it look like it wants to be done an abcde triangle correction? It looks like a nice set up but I agree it will fail it if BTC drops a lot.
You are right that this is probably wave 2. But in a wave 2, there can never be a triangle. It obviously can look like a triangle, but from an EW perspective it can't be considered or counted as a tringle. It's a rule.
In my opinion the only count that fits with STEEM is WXYX2Z.
Thanks, I appreciate the feedback. There is always something to learn!