SUMMARY
Aquarius Coin (ARCO/BTC) is swimming within the boundaries of a broadening pattern. This is the pattern I've been calling the Jaws of Wealth when price is at or near the bottom pattern line. ARCO has made some price wicks hinting to the desire to rise towards the top line.
Pattern recognition has been a key component in my overall analysis. It takes a bit of practice and a good eye to discern the patterns. Often, I have to take off my glasses to induce the haziness to capture a pattern not yet discerned. At times, I would look at the blank chart, free of any markings again and again throughout the day to gain further pattern insight. The below chart shows two wedges and if we can follow the history of the first, the likelihood of the second reaching again to the top trend line is higher.
Closeup shows that the triangle had broken out; though price reached back into the triangle. Regardless, I believe the desired trend of the sentiment that drives ARCO is up and the purple Elliott Waves show the projected direction and pathway.
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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