GOLEM (GNT) Could be In for an Extended Sideways Correction

SUMMARY

IF the first impulse of blue waves and the resulting correction of five months is any indication for the current correction, then it would require the owners of Golem (GNT) much patience and discipline. However, these attributes are good to have and time is on the side of anyone who possess them. The second impulse of five waves made an all time high and the first leg of the decline was swift and now there is likelihood of sidways price action in the forecast. In Altcoins, there almost never is a quick correction which is why the long time forming Cup & Handle patterns are the most common.

The short term shows what probably will be a sideways moving of price as shown by the blue wxyxz. Either the distance between the Y, X,Z can expand or the sequence can repeat at a lesser degree. During these consolidation times, dollar cost averaging in an accumulative mode becomes attractive.

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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