SUMMARY
To me, corrections are bargain sale times! Yep! I go shopping and take nibbles using the piles of cash I've raised. Sustaining 10% to 15% of portfolio as cash enables one to go on such shopping sprees. The time to raise such cas is NOT ideal during corrections but rather during the good times, for instance when VERGE was going vertical not too long ago.
The below chart is that of Tierion (TNT) and the Cup & Handle is very handsome! The handle is in the process of being formed and there is a good likelihood of one more lower low. But to me, that's ok! I plan on applying my laddering technique to effective capture as much and best average price. What's laddering? For the new followers and readers, please refer to this Laddering Tutorial.
The most ideal time to cast a buy ladder is during the terminal end of an a,b,c correction. In this case, wae 2 coincides withteh handle formation and so ideal to ladder in. The Elliott Waves target $1.24 or 470% profit potential!
The TNT/BTC is quite impressively at about the same stage as the TNT/USD pair. This too is signaling the potential for a gound floor opportunity. The resulting Elliott waves should take price to 13,009 Satoshi!
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
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?
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