SUMMARY

Cofound.it (CFI) is doing a triplicate and likely, the first two are complete. The rounded price pattern is quite common in both equities and Cryptos and is a slow, time consuming consolidation process. Price has thus far tagged a lower low and its been labeled as ABC given the three wavish feature.

Evem with the lower low, price is likely to pattern out a third rounded price pattern as shown in the below chart. Into this pattern, the ABC fits in well and now it's a matter of determining the width or time extension potential which would impact the basin phase. The late May to early June time frame could coincide with the right wall build of the rounded price pattern. July time frame could be the handle formation of the Cup & Handle pattern. This could also deliver a 50% retracement, potentially.

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!!
--
--