AppCoin (APPC) Needs to Find the Bottom in Pattern & Elliott Wave Count

SUMMARY

AppCoin (APPC/BTC) is still in the corrective mode. The initial bottom that had been targeted was exceeded with a lower low. Is this the end of the world? In a word, no. It's called trading and welcome to Technical Analysis which is not based on the probability of certainty but probability. The below chart shows a pattern potential of a Cup & Handle and Elliott Waves have been updated to target a potential bottom. The correction is moving as an ABC and the next chart shows the filled in subwaves.

Precision identification of a corrective bottom is always a challenge because just in Elliott Waves, there are 36 different combinations. That makes it 2.7% chance of precision spotting. That is why I developed my laddering technique and also why I ladder my ladder entries. The below chart shows the corrective counts and subwaves. The first blue circle is the the initial ladder entry made as it was thought to be the bottom and a new impulse was being initiated. However, price has made a lower low. So, do I just sell everything and go home? NO! I now prepare a second ladder entry without selling the first. This makes two ladders and a third if required. IFhe ABC correction is projected to now complete in the zone of the second blue circle; the ladder rungs would be placed accordingly. What do I mean by laddering? Check out my tutorial on this technique as linked at bottom of this blog. Has the bullish outlook changed? No. The correction has not yet completed and should the blue circle region represent the bottom, the "zip up" effect would bring prior ladders to profitability. Once the trend reversal occurs, the second ladder profitability will come first and then the first. Cash preservation is also key as emptying one's wallet into a single ladder entry would not allow the cast of a second entry.

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.

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
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?

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