EOS- The Phoenix.
This chart folks is the Elliott Wave equivalent of a Phoenix rising from the ashes. Earlier in the year we had been trading it in the crypto room at Elliott Wave Trader before it started to show a bearish bent. I can no longer recall when we got out but we avoided the big downtrend. I know some of my subcribers, as well as myself, kept some around, but at least for me, not enough to care about.
At one point I had projected a target of 27 cents as a possible bottom, but then the unexpected happened. It turned broke first level of resistance. Then it continued and I began to put out targets for a full five up. If you know the art, 5up is the structure of a motive wave. A 5 wave move up in an asset is a signal of a bull move, if forme properly and in context to other measures. Let's call it the Phoenix Pattern (I made the name up just now). Regardless of what we call it, this is a bull move.
Last night that 5 up completed. So far it came right up to the line I placed on the chart, the red box I use to place the target range. That targets was there for a week or so. It is possible to get extensions, but now we are looking for our long entry, now that 5 up is completed. This will occur when three waves down are completed. The target for that entry, and future targets for that trade will remain hidden for my subscribers, but I wanted to let the community know we are excited and long about EOS again.
Hi Wildtrade, thanks for sharing, EOS is an awesome project. I know it is off topic but I think this news is significant for those intrested in EOS development. Recently Microsoft Edge and Apple Safari browsers added support for WASM (Web Assembly)in their browsers. Google Chrome and Fire Fox also support WASM. With all major browser now supporting WASM. WASM is the same technolgy used in EOS for creating smart contracts and dapps! It is becoming an industry standard. Details of WASM and results of early tests in EOS can be found in this post by @dantheman https://steemit.com/eos/@dantheman/web-assembly-on-eos-50-000-transfers-per-second
Hi Wildtrader, could you pls shed some of your thoughts on the Lisk token/project and if this would be something to hold for long term ? I am new to cryptos but is this a sort of Etherum with basically different programming language ? Thanks
Sorry for the late reply. I see it rallying into January and maybe a bit beyond. I try to save targets for my subscribers to my service. I expect a pan-crypto bear market after that rally completes. Most charts are lining up for a big push into early next year then a big drop.
Hi Wildtrader, thxx very much. I am completely new to Steemit but I noticed you guys have a lot of that steempower versus steem, can someone pls quickly explain to me ? Do I need like steempower to contribute when I do like a vote. Is it better to have steempower versus steem ? Thx and enjoy your weekend
I am not the guy to ask really. I enjoy sharing but haven't payed much attention to my earnings.
Ok I fully understand that Wildtrader, thxx for prompt reply.
I don't know if @Wildtrader has any thoughts on LISK as a long term hold. You are correct that it's a 'sort of ethereum with basically different programming language' it uses Javascript and think it originated from an ethereum fork but implemented DPOS delegated proof of stake. I think, Shift was the first to fork from ethereum and it followed LISK in adopting DPOS.
Hi Guys pls read and be aware of what happened to me.
I posted it on Steemit with the title below:
steemit.com/cryptos/@seam06/attention-to-all-steemit-users-and-beyond-there-is-a-lisk-fake-webwallet-site-out-there-and-i-want-to-warn-everybody
Thanks johnchamberlain for your comprehensive explanation, I am still bit dazzled by the scam that happened to me.
Thanks for sharing!!! I'll check it out.
awesome post!! definitely recommend subscribing to this gentleman on https://www.elliottwavetrader.net/
big fan of EOS but for the long term
Resteemed.
Alex