Here is a fantastic cup and handle pattern! This pattern is advanced because it has broken out of the handle channel. That's bullish! New ALL TIME HIGHS ahead!
Look how similar these patterns are repeating in these other cryptos! This is because of the phasic/non-phasic interaction of cycles between Bitcoin and Altcoins as I blogged about here (https://steemit.com/bitcoin/@haejin/bitcoin-to-altcoin-cycle). Sentiment has variations. An excitement one feels and expresses is slightly different from how another experiences and expresses it. Now, once you take a large enough group of people who have the same bullish sentiment, you can then group and sub-group the types of bullish expression. This in price patterns is reflected as a cup and handle, head and shoulders bottom, ascending triangles.....in other words, these patterns are a reflection of sentiment. For Elliott Wave, all sentiment moves in ups and downs and that's in five waves followed by a three wave retrace.
There is a famous saying: "What are words, but symbols of symbols." The same can be applied for chart patterns: What are chart patterns but reflections of sentiment. This means that the chart patterns are NOT the sentiment but only reflections of it and thus NOT perfect. This is why no TA expert is 100% perfect...that'll never happen in this world. You can experience perfect but that's not at level of forms but only at level of mind. Only at a different spiritual/quantum level is that possible but that's outside of time, space and human thought. You've now gotten a peak into @haejin's deep inner thoughts.
Here is RLC:
Here is STEEM:
So, this is what I am doing. Given these bullish patterns, setting up a buy ladder with 4-7 price rung levels. BULLISH!
If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
BTC Wallet - 19gHMJc9wi9KkP47wokz8y4cFNgz1kAAUE
ETH Wallet - 0xf83641dbf1a53498eae6d0d568c969790da48a36
LTC Wallet - LU1mEw1LHvffoWf9VDEVdP7Day4jv6VLqu
EOS Wallet - 0xf83641dbf1a53498eae6d0d568c969790da48a36
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.
Excellent.
I just posted in the last STEEM thread.....All of the indicators I watch pointed to today being the bigger upward swing into the profit zone.
And sure enough, it's off to the races already!
HAPPY PROFITS! Thank You haejin. Excellent Call!
-and to note on the theory and your own thoughts on it.....You are absolutely correct. There is no greatest investor or trader. Someone may have a great year, and then a bad....because nothing is perfect when it is being measured off of the fickle and impulsive humans that we are!
Scarlet thanks for your reply regarding XRP on the other thread, I decided to sell and break even. Holding it was getting too uncomfortable for me.
Hey, the way I see it, we are here to make money....and it doesn't help to not help. The more everyone understands about the way markets work, the more everyone wins. haejin has been an indispensable resource for me when it comes to recognizing that the EW patterns seem to be very solid with Crypto markets. So I got to studying up more on that. You can learn quickly, but remember, the strongest lessons are usually taught by the strongest failures. The information on the web is so diluted that it is a rare treasure to find people who not only know what they're talking about, but also want to help others. That's haejin. And you know as far as profiting more and losing less, for me it just really takes time watching and learning. EW theory has beaten any other I've used in this market, credit to haejin. I watch many indicators, but mostly because I do attempt to find the very peaks and valleys sometimes. It's risky, and I would recommend always laddering in and out of positions like you see demonstrated on this blog. The peace of mind is priceless. What can I say, I'm a gambler! Really though, I usually ladder everything, sometimes I just see the indicators screaming to hang on a little longer, and I don't mind tempting fate while I'm watching live and can bail on it in the blink of an eye. If I'm away, no way am I gonna try and guess a number and a specific time, that's damn near impossible.
Here's an example of what I'm looking at, and how I'm attempting to determine the right time to go in on something like STEEM that has been forming the cup and handle for a year now....
(1HR)
(1D)
I know, it's a lot.
Thanks again! Yes my first 3 crypto trades were all massive failures, but I know it was completely due to the mindset I had going into them.
The next 2 were mildly successful thanks to haejin's help, they would have been great successes if I knew when to hop off the wave rather than ride it almost all the way back down (like with XRP).
Anyway I do feel like I am slowing getting the hang of things!
Well said! Nice!
Not sure if it was because of my request but thank you Haejin for looking into XRP and QTUM =)
I'm still very new to trading so your advice is very helpful. Yet to make any profits yet (Don't recognise when to sell) but when I do I will buy you a beer (or maybe even a brewery!)
Yes, they were posted per your request. Please keep requesting updates now and then and I'll send sell signals when they show.
Stox is one I would be very interested in @haejin
Hi PFA, STOX is such a new ICO with so little data, EW count would not help much. However, the support line has been broken and this signals a trend change to down. See this chart:
Great! Thank you again =)
i pick rlc from them the worst one i hope i can sell with %10-20 profit atleast :D
Many thanks for answering queries on RLC, QTUM, and steem. I wanted to ask about Qtum. You are gem!
I wish you MASSIVE PROFITS!
Please spread the word on my free TA service. I'm here only to help!