ICONOMI (ICN): One More Lower Low to a Probable Bottom
SUMMARY
ICONOMI (ICN) is expected to bottom on this correction. It's amusing how ICN is the same airport code for Incheon Airport in Seoul. ICN had broken out of the symmetrical triangle that also counted well as an abc correction. The breakout was impulsive as shown by the blue waves. Elliott Waves states that after five waves, there is a a requisite retracement, often in the form of abc waves.
A closer examination shows that the corrective waves are actually an expanded flat. Expanded Flat corrections has the B wave reaching far higher than the start of A wave and the C wave declines below the A wave. Subwave counting is crucial to be able to determine and project with good probability. The tail end of wave C could be as the yellow subwaves show.
Legal Disclaimer: 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
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
@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!!
--
--
If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
BTC Wallet - 1HMFpq4tC7a2acpjD45hCT4WqPNHXcqpof
ETH Wallet - 0x1Ab87962dD59BBfFe33819772C950F0B38554030
LTC Wallet - LecCNCzkt4vjVq2i3bgYiebmr9GbYo6FQf
Keep up all the great work and always ignore the disrespectful people Haejin. Your work is incredible valuable to the community. Please also see what I contribute to the community to help you make immense gains. Over 50K subs/followers total now and growing fast.
https://steemit.com/bitcoin/@philakonecrypto/lesson-12-let-s-learn-advanced-55-ema-strategy
ICON-IC!~!!
UBIQ?
LADDERING IN!!$$🚀✅
Folback... Repost pless
Any chance for an analysis for Numeraire? The MACD is really weird for this coin
nice. love your videos haejin!! you the man
New update BTC?
If Btc duplicates last years perf then it will go to 200k by year end. It will hit $7800 before mooning again.
$120k
Hi Haejin, love you videos and analysis. Would you be so kind to be able to do another review analysis of 8BIT coin. Your analysis indicate significant growth over the next month. Since market correction is this still the analysis? Kind Regards
TNT Right on ! Could you also look at NAV. Thank you Haejin !