SUMMARY
I admit, I often don't know what the coin does, have not read the White Paper and actively avoid the news and fundamental details related to any coin I analyze. This is not out of laziness or inabilities; rather, I truly believe that PRICE moves the NEWs and EVENTS; and NEVER the reverse. This is very difficult for most to conceptually accept and it's very understandable. We as humans, are all born into a physical world governed by Newtonian Physics and the cause-reaction relationship has been deeply imprinted. When fundamentals are comingled with price analysis; GIGO (Garbage In; Garbage Out) occurs and I believe this is largely why the accuracy of many Technical Analysts suffer and rarely achieves 88% accuracy rate. My blog contains the evidence of my performance which has ranged from 77% to 96% accuracy and it isn't an accident! I actively try and remain silo'd from news and events and fundamentals to gain as pure of a price analysis possible.
The most ideal way to believe that Price truly moves News and Events is to actually experience it! I've taught and coached now MANY Steemians and Youtubers on my methods and they too are able to accurately forecast future price pathways and actually experience how news and events later arrive to justify their forecasts. Experience leads to belief and never the reverse. Therefore, I invite you to perhaps consider an open mind towards my analytical process and methods before quickly debunking it for a two liner with a picture post. R.N. Elliott himself stated that News and Events shall arrive to justify the forecast.
I will teach you. I will share with you what I know and have learned through over 20 years of experience. I believe I've acquired something, a method and a process that works. I will show how just about anyone can learn my methods. It only takes a bit of an open mind free of cynicism. The objective of my blog has been to share what I know....teaching others how to "fish" for themselves is far more powerful.
The below is a chart of Stox (STX) and it is just starting to rise through a Cup & Handle bullish pattern. This pattern is quite common in Altcoins and also often slow to complete and confirm. However, once confirmed; it becomes a sight to behold because the uptrend can be sustained for quite a while. I target $5.87 or HIGHER to returna a potential 520%!!
When the STX/BTC pair is displaying a very similar pattern to its STX/USD counterpart; the bullishness takes a few ticks higher! It simply means that the sentiment segement of the two pairs are quite similar and so their price action will become highly in phase; though the STX/BTC will be a bit lagged to STX/USD. The target is 0.002503 BTC!!
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!!
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If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
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Legal Mumbo Jumbo: 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.**