Loom Network (LOOM): Wave 5 in Progress

SUMMARY

Here is a very young ICO with a very nice impulse sequence in progress. Elliott Waves shows that motives run at all delgrees of trend all at the same time. This means that regardless of a time span; there's an Elliott Wave motive in progress; so at any degree of trend the five wave up and three wave retrace fractal can be found.

Since blue waves 1,2,3 and 4 seem complete; wave 5 is next and it should take prices to new highs as shown in the below chart.

The subwaves of wave 5 show that white wave 1 could reach a bit higher but likely white wave 2 should take place. The MACD also shows that it is emerging from a bit of oversold state. Overall, higher highs are expected.

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?

Follow me on Twitter for Real Time Alerts!!
Follow me on StockTwits for UpDates!!
--
--