VERGE (XVG): The Hurry Up & Wait Syndrome
Here is VERGE (XVG) which is executing very well the Hurry Up & Wait syndrome. What is this? Cryptos have a genetic trait and that is they almost always rush the impulse 1,2,3,4,5 waves up but then carry out a excruciatingly slow corrections! At times, the correction is slower than molasses flowing uphill, outdoors in the middle of February in Canada!
The chart below shows the length of time it took for the impulse waves to be placed (first blue horizontal line). The length of time it is curerntly projected to take for the a,b,c,d,e triangle is about 3.5x! This is what a Crypto trader should expect. If a correction seems too quick, than most likely it is! Always expect and project a very lengthy correction!
Here is a closer up of VERGE with an updated chart showing that price is in progress of putting in the d wave.
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?
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