SUMMARY
LISK (LSK) completed an impulsive motive of five waves (white). The correction has been sideways, though the range has been broad. The blue WXY labels thus far suffice and the subwaves also add up. However, the price waves can morph and extend into the triple complex. The MACD also shows an oversold state that is getting deeper. This level of oversold condition is often not sustainable and would likely lead to a trend reversal or a sizable bounce.
The finer subwave counts show that blue W and X are complete and Z is near complete as shown by the abc (red) and wave c's subwaves 1,2,3,4,5. The terminal end of wave Z is where a strong horizontal support zone lies. All waves seem near completion and so either overnight or tomorrow, a reversal of some type is 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!!