IOSToken (IOST) Almost Completing the Right Wall of Cup Pattern
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SUMMARY
The below chart shows how IOSToken (IOST/BTC) declined in an ABC three wave and the rounded bottom formation's right wall side is also nearly complete. The upcoming correction of almost 50% is shown by the parallel channel lines.
Adding the Elliott Waves shows the blue impulse of five where the 5th is already or about to complete. The MACD is indicating that perhaps blue wave 5 is already done but pattern symmetry shows a little higher could be more likely. The white parallel lines indicate the handle portion and this usually retraces 50% or more of the right wall height.
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Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
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Tutorial on the use of Fibonacci & Elliott Waves
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I dont believe this technical analysis at all not anymore... Every coin in the market could make profits if the right development, marketing and usage is well done and well processed, technical analysis is just a matter of a day trade in which all can be lost.
Accept my points, Please
use it as a forecast like weather forecast for long term also margin trading if your bullish
for short term profits learn to daytrade and swingtrade
Now @Haejin will downvote you to NEGATIVE!!!
Elliot Wave🤑🤑
Thanks for the update @haejin. Much obliged.
good post sir...i like it
please follow me and upvote on my post ...please sir.....
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nice
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How will Binance's competition tonight affect the correction?
I doubt it will. I am not sold on this 50% correction. If IOST has a 50% correction BTC will be under 6k.