Melon (MLN) Technical Analysis Shows Downward Wedge Likely Won't Generate a Lower Low

in melon •  6 years ago 

SUMMARY

Melon (MLN/USD) pattern of downward wedge is quite steep. The retrace has thus far exceeded the 0.78 Fibonacci zone and yet it's still not complete. The wave mapping shows the blue abcde with all but wave e being complete. Even if there is a breakout, price and time can be extended through sideways action. Still, the steepness of the wedge often indicates a potential for a sizable breakout. If measured in percentage of move, it could be significant.

The subwave closeup shows that the final abc subwaves of the blue E wave will probably require an incremental lower low. This would still not set a lower low from prior lows before the wedge formation. Whether trend reversing or not, once this wedge pattern completes, a breakout is probable.

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Does anyone know what's going on with tron? I looked at many YouTube videos saying all types of stuff.

  ·  6 years ago Reveal Comment

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First I've heard of this coin

Coins mentioned in post:

CoinPrice (USD)📉 24h📉 7d
EOSEOS5.566$-9.01%-16.08%
MLNMelon47.706$-7.41%-30.19%
QAUQuantum0.098$-1.41%-28.13%
WAVESWaves3.488$-6.0%-25.02%
  ·  6 years ago Reveal Comment

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  ·  6 years ago Reveal Comment
  ·  6 years ago Reveal Comment
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WARNING - WARNING - WARNING - WARNING - WARNING

This person known on Steemit as @Haejin is WANTED by the SOUTH KOREAN GOVERNMENT for TAX ENVASION!!! They are coming after him. He has been reported to them & they know where he is.

WARNING - WARNING - WARNING - WARNING - WARNING