SUMMARY
LBRY coin (LBC/USD) has completed two rounds of a Cup & Handle pattern consecutively. This sequence of pattern occurs within a broadening pattern. I've mentioned in prior posts that such bullish patterns within a larger bullish pattern can often lead to explosive reversals. Currently, price is sitting on the bottom support line and it might temporarily pierce it. Would this be a good thing? Also, would now be a good time to be taking buying or selling actions?
Fractal sequence can be used to forward discern a third fractal of Cup & Handle (yellow). IF this is correct, then using prior two fractals, the next climb towards the upper trend line could be near vertical and quick. Also, the girth of each Cup decreased from the first to the second fractal and its decrease should continue into the third one. This means that the basing time could be shortest. So, in the prior fractals, did the basing price times represent a buying or selling opportunities? I think some exciting times are ahead.
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: 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.
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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?
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