SUMMARY
Here is a relatively new coin and it started its genesis with an Expanded Flat (3,3,5) correction. Since nearly day one of my blog, I've shared that the most ideal time to buy is almost always at the terminal end of a correction. DragonChain (DRGN) could be presenting such an opportunity. While there is the likelihood of price opting to go sideways for a time extension, even after a breakout of the below wedge pattern, a closer examination might worth while.
The subwaves of an Expanded Flat means that red A has an abc (white) and so does the red B while the C has five. Since the wedge pattern is a diagonal; I've decided to label it as 1,2,3,4,5. Since the genesis of the coin started as a correction, the whole pattern could be a Leading Diagonal of an A wave and a breakout could lead to the subsequent B.
The finer subdivision of the remaining wave 5 is shown in blue. It could be almost done! Price proximity to the Apex is also ideal.
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.
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Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
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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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