SUMMARY
Elliott Waves states that after five waves, an a,b,c correction becomes a requisite. These five waves move according to Fibonacci sequence and are interrelated as such. The requisite a,b,c waves often retrace to prior wave 4 of a lesser degree. I've labeled the impulse five waves (white) and the a,b,c correction. This correction WILL NOT likely be a quick one. Remember the "Hurry Up & Wait" syndrome that every altcoin has. This means that the impulse waves are put in very quickly while the corrective a,b,c waves take a much longer time to complete. Also note that the correction could morph into a triangle or a flag or a channel or a combination. But, the terminal end is the best time to buy so that means a Technical Anlyst awaits the terminal end of the a,b,c correction before casting his buy ladder. What's a buy ladder? It's all detailed and tutored in this video for free and for ALL to learn..
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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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.**