IOSToken (IOST) Head & Shoulders Within a Rounded Price Pattern

SUMMARY

Here is a hetero pattern where a pattern is found within another. The rounded price formation is very nicely placed wile at the same time the left shoulder (LS), head (H) and the right shoulder (RS) are also identifiable. The distance from the bottom of H to the Neckline is used to measure the minimum price distance to travel. That target is measured at 860 Satoshi.

The price pathway to the minimum distance is likely to be an impulse. The RS is still in formation so the current waves (white) could extend higher. For now, it seems like waves 1,2 and 3 are complete and 4 is in progress. Wave 5 should enable the breach of the Neckline. The minimum target will probably be tagged by the second round of impulse.

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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?

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