VeChain (VEN): Could the ABCDE Correction be Complete?
SUMMARY
VeChain placed a very nice impulse wave up as shown in the below chart by the white, circled waves. The most subjective part of Elliott Waves is to determine the right look of the impulse. The current label fits just about every right look on form/fit profile. Elliott Waves states that after five five waves up, there is a retracement that usually goes to the prior wave 4, if there wasn't an extended 5th. That is the case here and the abcde (red) looks quite ripe and done thus far with probably only wave E to go. The subwaves also fall snugly into place to confirm.
The alternate would likely extend the price and time to further sideways action. However the last Z wave would be a likely lower low but all waves would still be expected to be within the confines of the triangle contracting lines.
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
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Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
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Thanks for the updates!!!!
I appreciate it. As an analyst, I need to call it as I see em.
What's so interesting about the chart care to explain?
Hola @haejin, buen post gracias por la informacion, un abrazo. siguiendo, upvote, reestem.
Thanks for the good post. I am following and upvoting your posts.
good post
An update for verge please ,I think I have spotted a genuine breakout ,What are your thoughts on this @haejin ?
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I love Vchain. I just need a little bit more to complete my bag. Looks like I may be able to do that for even less!