LISK (LSK): ABC or WXY...It Doesn't Matter

in #lisk7 years ago (edited)

SUMMARY

The chart of LISK (LSK/USD) at first glance might look a bit of a mess. A newbie might wonder what to make of all the ups and downs of the price bars. Very understandable. However, Elliott Waves often resolves such conundrums and when combined with chart patterns, resolution can be quite frequent. The below chart shows that an impulse of five waves can be drawn (white waves). Elliott Waves states that after five waves, there is a correction or a retracement in the form of abc or triangles or complex combinations. The below chart shows an abc flat correction.

This correction however, on a closer look, is moving sideways. When price moves sideways, the better Elliott Wave label is WXY as shown. Regardless, what's in a label? The blue impulse waves could indicate the first sign of a trend reversal. As I've written before, the first set of impulse needs to be followed by the second. Currently, that's exactly what the situation is...the second impulse needs to be initiated. If the abc correction is complete, the wave 1 and 2 of the second impulse could combine with the triangle pattern and subsequently complete. The higher highs would be what LSK needs right now.

Legal Disclaimer: 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.

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?

Follow me on Twitter for Real Time Alerts!!
Follow me on StockTwits for UpDates!!
--
--

Sort:  

Lisk is re-branding on February 20, 2018. Normally a positive thing for a project. Trade accordingly.

Thanks Master Lee! Kamsahamnida

Top 3 master of TA much better than Haejin.Choose best one & you love their work.Have a look
Trust me you will love their work.Everyone just one time look their blogs.CHeck their bitcoin updates you will love them.
@lordoftruth

@salahuddin2004
https://steemit.com/bitcoin/@salahuddin2004/bitcoin-update-14-02-2018

@philakonecrypto
https://steemit.com/bitcoin/@philakonecrypto/bitcoin-btc-feb-14-targets-predictions-valentine-s-day-evening-update-target-reached

What does LISK do as a Crypto?
thanks.

100 dollar lisk?

Photos are very good and attract attention

Top 3 master of TA much better than Haejin.Choose best one & you love their work.Have a look
Trust me you will love their work.Everyone just one time look their blogs.
@lordoftruth
@salahuddin2004
@philakonecrypto

Congratulations @haejin, this post is the third most rewarded post (based on pending payouts) in the last 12 hours written by a Superhero or Legend account holder (accounts hold greater than 100 Mega Vests). The total number of posts by Superhero and Legend account holders during this period was 34 and the total pending payments to posts in these categories was $3026.74. To see the full list of highest paid posts across all accounts categories, click here.

If you do not wish to receive these messages in future, please reply stop to this comment.

Hello steemit friend haejin! I upvote you and i hope you will give back me upvote.

Brilliant money post Brilliant work in steemit life i like your post