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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.**
just fyi... previous gift horse BT2 went to zero last night .. and didnt reach any targets .. people should take these with salt... and manage their risks very carefully
Just a note on that: I posted the terms that Poloniex put on that coin, and advised that others read that before buying. Also, if you are following the correct practices you would have been stopped out of the coin. And third, no one is correct all the time, and outside of that notion, it is nobody else's responsibility but the buyer and owner to keep up with possibly detrimental news on the exchange used. No one man can keep up with all the coins every day, including what each exchange is doing with them. That coin is still open at HitBTC under the name B2X as I stated in the OP. I very clearly gave the information about Poloniex and why they should be considered different options for the same coin. That information included Poloniex's ridiculous attempt to carry Chain Split futures but very clearly told their users that they would not back anyone's investment if it got pulled from the market.
I'm sorry if you were in that coin on Poloniex, but it is very important to understand what you are buying. The TA coming from here does not address any news or events. This leaves the responsibility on the buyer to do their DUE DILIGENCE about every buy...which should include the terms of the exchange. I think it's shitty and Poloniex did it on purpose....my opinion only, but their language in their Chain Split intro was basically saying buy at your own risk, we can pull this at any time we want.
The chart for Hitbtc still looks like a beautiful potential:
This article presents the alternative view on the coin:
https://cointelegraph.com/news/segwit2x-version-20-a-farce
sure... thats what i also wrote in the first place.... and its bitfinex not poloneix ....
and you posted about BT2 not b2x ... i am pretty sure most of the people have no idea they are same... even i did not think they were same initially, as b2x showing completely different price/chart, no where close to BT2... and you used BT2 charts in your post not B2X
So... scarlet7 is your another id ? :)
apparently, that's not @haejin
Obviously.
he wrote "I posted" ... so he was the author isnt it :)
umm, actually the charts are the same, they didnt list at the same time, I posted two charts showing that. Yes bitfinex, not poloniex...my fault, I don't use either.
Put BX2 by mistake, same chart if you look at the same time span.
patterns looks similar... but price is way off... not even close...
If you say so.....prices matched almost identically and fractals matched very well at the time of the OP.
edit: I see where you mean, I lend that difference until the price dropped to it just coming live on Hitbtc at the start of that chart.
my btc was returned tho.
That's really good to hear. Something positive out of a poor offering by Bitfinex.
nope... i dont see anything in my account... im pretty sure it became zero... i had bt2/usd ... no usd was returned
What exchange are you using to trade BT2?
bitfinex it was....
I'm sorry for the loss. I do my utmost to analyze for the benefit of all. However, it did not go to zero. In fact, it's quite a good time to buy. It sounds crazy, but the bottom is likely in or at any time.
Diversification is the best de-risking strategy and allows a good buffer of such incorrect calls. I hope this was the case for you.
I'll post an update on BT2 soon.
Kind Regards,
@haejin
PLEASE GIVE AN UPDATE ON THE CURRENT STATE OF XVG! I HAVE INVESTED THOUSANDS IN IT AFTER YOUR POST 4 DAYS AGO. PLEASE UPDATE IT. ARE WE ON TRACK FOR THE SAME PRICE PREDICTION?
Stop panicking. This is not how an investor behaves, you only bought it 4 days ago and likely at or new an all time high. You should have laddered in like @Haejin teaches, and you should have expected some retracement according to TA. Calm down and hold!
this is how crypto investors behave
hi Haejin, plz update your thinking about XVG because it seems not to head your trend but it standing still now. I invested a lot in this so Id like to know more about it plz. Thx Haejin for ur info!
bt2 became zero, and bitfinex removed it completely ... so no position on that anymore 😂
it was not a big position ... but first time some thing in crypto became zero for me ... probably good to have that experience ... should stay in my mindd
i shd have sold ... but his target was way high... so i kept lot of sell orders much below that... which didnt reach. had a scalp once though...
On it! :)
Reading this post I felt the coaching aspects from within and will do my due diligence and consider this presented opportunity. I have diversified my portfolio but not also with altcoins, so this could be a good time as any to get into more depth with it. Through baby steps I try to enrich my investment knowledge and be able to analyse the trend and act when opportunities rise. Thanks for sharing this and will follow up on it.
I like!
I prefer: Fortune Favors the Bold....Alexander the Great!
Haejin, not sure of the possibility, many requests im sure however would be most interested in slightly longer term thoughts care of the elliot wave principle for a few, CVC, Steem, XRP at this stage.
In an interesting a good way, for example bought really well into a few based on your recommendations. Then sometimes of course you wonder if to sell or what %, not asking that however if I use an example (keeping in mind I do use the laddering technique) XRP, bought in around 0.19 , laddered out 25% at $1, then 25% at $1.35, kept half. Now i look and think hmmm (happy and grateful with the profits) but whats next beyond the recent $4 TA prediction, I see that $4 easy. Some are calling $100 long term.
Obviously the further out the harder to tell, however would help knowing how much percentage of portfolio to ladder out each time and how much to keep.
My Elliot wave book arrived today, started reading already so certainly realized it will take some time to digest and understand all of it!
My first thought after reading was what Wave is the crypto market currently in! He predicted all the stock moves in the 30's! Gets the mind working...
Nice and powerful quote indeed!
Why would randowhale downvote this comment?
Nice centence!
It really doesn't matter what the coin does or doesn't do, what matters is that someone wants to buy it.
Look AT BITCOIN, the most popular, HIGHEST priced coin.
Tech is now old, slow and pricey to send/process a transaction, however still $$$$14000 for one coin! Which isnt even a real coin, so it doesn't matter and if reading that type of material will distract from the TA and Elliot Waves then I can understand how it makes COMPLETE sense to simply ignore it!
Could you please do an update on Ripple?
Thank you again @haejin
hey @haejin can you make an update DGB plzzzzzzz
This is what I see...0.00006600 soon...
A is where your C is...but pretty good!
BTFD!!! I almost want to join the exchange that trades this because I can't look this gift horse in the mouth! Thanks @haejin !
I wish you MASSIVE profits!!
Thanks, I appreciate your teaching!
Hey at least you admitted to not reading the white pages first lol. I don't think it is always necessary personally. Just like with companies people invest in on the stock exchange, you don't need to know EVERYTHING to put a small investment into something that looks promising at face value.
Awesome
PRICE moves the NEWs and EVENTS. It's so true!
I'll buy more today.
Thanks ! I'm really happy that you are sharing your TA with us ! Keep rockin @haejin
Don't read the whitepaper or know what the coin is, that is too funny Haejin. I understand your rationale, it just makes me laugh that is all. I am a little bamboozled for your method, but I will keep an open mind. Your results speak for themselves, amazing. Thanks again
Yes, soon, I shall welcome you to the dark side!
Thanks for this analysis. I am new here and learning all the way from you.
thanks for the heads up! can you update verge please?
Don't listen to all the fudsters shitting on XVG. That's the only update you need. There are gonna be many cry babies when this project reaches $1 / $2 within 2018 mark my words and they realize that all they could ever do was panic sell on the 1st of January because they know nothing.
"You know nothing, John Snow" lol
I'm really Thank you for your sharing!!
I wish you and your family the best for 2018 and beyond. Thank you for all you do.
thanks for your powerful post @haejin
@nickibanjlady
Upvoted your post
And also follow you....
Very interesting, but it seems that one is unable to register an account on HitBTC at the moment. Anyone aware of other exchanges that list STX?
Etherdelta. If you go on coinmarketcap.com and look up the coin, there is a tab for 'markets' that shows you which exchanges sell the coin.
@unaveragejoe
bought a couple of STX a few days back on Kucoin
personally I don't like their site too much, rather buy somewhere else in the future
Thank you Haejin! I love to learn from you!
I just started following you a few weeks ago. Watched your tutorials. Immediately I started enjoying reading charts and playing making forecasts.
First success was the dip of XVG to 0.69, My guess was close to 0.7. Bought more on 0.72. Felt very happy with this call! First buy was 0.0092 though, great profit already. But the ability to learn to read charts is worth so much! Again Thank you!
Btw. Have you looked at the total market cap chart? I recognize a synchronicity with many other coins. Corrections made in the same time. Looking very similar. Then I thought that maybe the frequencies of cosmos and/or the Earth is reflecting itself in charts, events, our moods, and whatever...
Any thoughts on this?
Thank you for sharing!
Thank you haejin for the open discussion of not looking at the coins business behind them or any news for that matter. I enjoy your straightforward and honest blog posts. Today I received my Elliot Wave book in my mailbox!!! I'm excited to learn.
Thank you.
wow !
i love ur analysis. keep on!
Can you take a look at (KORE) again
As always - Appreciate the knowledge!
What exchange do you recommend buying STX on?
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Hi!
I am very much a beginner in the Crypto world and i have a question for those with more knowledge and experience if i may...?
I am ok to "buy" coin in the say STX/USD example on Coinspot.com.au where i am in Australia, but i dont know how to buy in the STX/BTC example. Am i right to say the % return in the latter example are usually higher???
Any advice or help would be much appreciated!!
Thankyou!
I AM ALL OVER THIS ONE. HAVE BEEN SINCE THE END OF THE CYCLE!!!!!
I think we're going to see spike of 20x growth even, good laddering can catch those prices!
BTW: I'm extremely proud and impressed that the smaller users have voting power now! Good on all of you for helping out!
Yes thanks to steem prices!