Zozoet
Panjang

Eliot wave finished on Verge (XVGBTC). Buy opportunity.

BITTREX:XVGBTC   Verge / Bitcoin
It looks like Verge finished it's ABC correction. Now it's time to go back up!
Defining targets later.
Komen: First target: 1211
Komen: First target reached. Expecting it to slow down a bit, you can try to buy back the part you sold lower.

Second target: 1541
Komen: Target reached!!

Third target:1982
Minimum condition for a correctional pattern (c = 0.618xA) is NOT met. So C isnt finished yet, or may not even have started, means the last low is only b of B, while you all now long into c of B resulting in to be forced closing positions once C really starts. Take it just as alternative idea. In fact C is NOT at least 0.618 x A yet!
Balas
Zozoet ThommyTomka
@ThommyTomka, There are multiple ways to identify a C in retracement. Yes, you're correct sometimes one of them is 0.618 x A. However, another one is retracement to previous 4 (not met) or a 0.681 retracement from the previous 0 to top. In this case the retracement from 0 to top is very close to 0.618.
Balas
First target: 1211
Balas
XVGTRON Zozoet
@Zozoet, What's the second one? :)
Balas