SUMMARY
It's amazing how quickly people get nervous, even at the slightest sign of a healthy correction. The ONLY way I know that'll keep the panic away is to gain greater awareness of the probable price pathways! This means one has to make a determined decision to learn how to Fish on his or her own. I have posted a goodly number of tutorial videos, always linked at the bottom of each blog posted. I strongly urge you to not just watch but STUDY these as they can help you gain that greater awareness that'll keep the panic and FOMO at bay.
The below chart shows ReddCoin (RDD) doin a traditional downward pointing bullish wedge correction. Does this guarantee that price will turn up and make higher highs? NO! Thinking like that is incorrect because this is NOT a process of certainty but probability. The pattern and the elliott waves used to label this pattern shows high likelihood that price will soon resume towards hitting $0.0285 or higher. I believe the subwaves show a potential for one more lower low...but not required.
Here is RDD/BTC and many are just panic selling! To me this is beautiful! Why? The handle formation is at hand and it is at the terminal ends of such corrections that the best buying opportunities reside! My target of 193 Satoshi remains solid and conservative!
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
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
Follow me on Twitter for Real Time Alerts!!
Follow me on StokTwits for UpDates!!
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