SUMMARY
For Steem Dollar (SBD), the MACD indicator is tunneling through the narrowest crevice of the symmetrical triangle pattern. People, this kind of situation usually does not last too long because the pressure of it is not sustainable (red circle). Also, the overall countours of the price bars is putting a fine looking rounded price formation (white arrow).
Now, the white rounded price pattern is basically within the larger rounded formation (blue). While my hand drawn line is not as steady as a mechanically traced outline, it does follow the projected five wave impulse to a likely all time new highs. I believe there is also a strong probability of an inversion opportunity.
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Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
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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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