Critical Levels - EW analysis - page 38.

spud21

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Quote from: JustAnotherSheep on May 18, 2015, 05:50:26 PM

Personally I'd be careful with shorts here. While I agree us breaking several major trendlines doesn't look good, from an EW point of view it seems like a reversal of some degree may be due after another small wave down (which could truncate, or hit ~$230 @ OKCoin).

That or we have begun III and I'm about to get sheared Cheesy

So you think it could go down a bit more, then return to exactly the same price it has been at for most of this week?

Afrikoin

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Quote from: JustAnotherSheep on May 18, 2015, 05:50:26 PM

Personally I'd be careful with shorts here. While I agree us breaking several major trendlines doesn't look good, from an EW point of view it seems like a reversal of some degree may be due after another small wave down (which could truncate, or hit ~$230 @ OKCoin).

That or we have begun III and I'm about to get sheared Cheesy

also watching $226.

JustAnotherSheep

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Personally I'd be careful with shorts here. While I agree us breaking several major trendlines doesn't look good, from an EW point of view it seems like a reversal of some degree may be due after another small wave down (which could truncate, or hit ~$230 @ OKCoin).

That or we have begun III and I'm about to get sheared Cheesy

Natalia_AnatolioPAMM

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Quote from: Morecoin Freeman on May 18, 2015, 04:06:19 PM

I hope for down. Have a lot of fiat ready in the coming months.

just as me

Morecoin Freeman

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I put in a short at ~235. I hope all goes well.

Wandererfromthenorth

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Pennants broken to the downside on all exchanges.

Tzupy

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This dump triggered a bearish flip of 12h and 1d PSAR, IMO similar to the flip of the 16th July 2014.

Morecoin Freeman

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I hope for down. Have a lot of fiat ready in the coming months.

Wandererfromthenorth

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Quote from: futureofbitcoin on May 18, 2015, 03:53:17 PM

Question is, are we moving up or down?

Down if price breaks support trend line (see above), up if it breaks the resistance trend line, only if a definite move with decent volume happens tho, otherwise might be sideways again.

I think down is a lot more probable but no bias.

Just my humble analysis.

futureofbitcoin

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Question is, are we moving up or down?

Wandererfromthenorth

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I think we are in for a very big move soon.

The next moves should determine the trend of the next few weeks/months IMHO.

grahvity

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http://thepatternsite.com/WolfeWaveBear.html

JustAnotherSheep

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Quote from: fortif78 on May 13, 2015, 07:52:40 PM

In the case of an expanding triangle, shouldn't one be able to count a-b-c-d-e as 3-3-3-3-3 ?
I have a hard time counting the move to ~1550 CNY as a 3 waver - looks more like 5 to me.

Imo it looks much better as 3 waves, though chessnut also mentioned earlier he thought it was 5, so what do I know. Perhaps bit clearer form on OKUSD:

Blowout v of (a) ((following underextended iii)) and severely overextended iii of (c) followed by a weak and truncated v.

The ratio between (a) and (c) pictured is also almost exactly 1:1, i.e. typical corrective proportion.

chessnut

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Quote from: fortif78 on May 13, 2015, 07:52:40 PM

In the case of an expanding triangle, shouldn't one be able to count a-b-c-d-e as 3-3-3-3-3 ?
I have a hard time counting the move to ~1550 CNY as a 3 waver - looks more like 5 to me.

Yeah, an expanding triangle is 3-3-3-3-3. the wave to 1550 could be either. not really important as it isnt exactly obvious and the smaller count gives way to the larger count. If it is a fiver it doesnt change the larger count being a corrective in a down trend.

fortif78

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Quote from: chessnut on May 13, 2015, 07:33:50 PM

Quote from: chessnut on May 03, 2015, 06:14:56 AM

This is a nice count imo. Valid and fits in quite nicely.

Having said that, the big money has moved for the time being and trading conditions are BAD. Accuracy will be less and whipsaws be be more.

This could still be the count playing out.

In the case of an expanding triangle, shouldn't one be able to count a-b-c-d-e as 3-3-3-3-3 ?
I have a hard time counting the move to ~1550 CNY as a 3 waver - looks more like 5 to me.

chessnut

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Quote from: chessnut on May 03, 2015, 06:14:56 AM

This is a nice count imo. Valid and fits in quite nicely.

Having said that, the big money has moved for the time being and trading conditions are BAD. Accuracy will be less and whipsaws be be more.

This could still be the count playing out.

RyNinDaCleM

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Legen -wait for it- dary

Quote from: JustAnotherSheep on May 13, 2015, 06:35:50 PM

Quote from: RyNinDaCleM on May 13, 2015, 06:18:59 PM

Quote from: JustAnotherSheep on May 13, 2015, 12:05:51 PM

Quote from: fortif78 on May 13, 2015, 11:48:02 AM

It's a lot easier and faster to open google, or a textbook, and learn for yourself. Roll Eyes

I tried searching for it but found nothing. I've read the rules and guidelines and as far as I remember there is no mention of what I'm asking. I could spend hours going through EW books just to see if there is something on this specific subject, but why when there exists a dedicated EW thread where I can ask the pro's directly and in addition get feedback/criticism on my counts (not to mention that others might also benefit from the answer)?

However, I apologize if my questions are unwanted, and if chessnut tells me to I will stop posting.

Yes! It's called a running triangle and the triangle b makes a new price extreme beyond the origin of a.

I see, thanks. Seems like this is may have been what happened, but with triangle start earlier than I thought. Revised white count:

The triangle and divergence suggest termination soon (though the div may yet be overcome), so I'm assuming this is (c) and not a larger impulse.

There is room for a 5th wave down, but not completely necessary.

JustAnotherSheep

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Quote from: RyNinDaCleM on May 13, 2015, 06:18:59 PM

Quote from: JustAnotherSheep on May 13, 2015, 12:05:51 PM

Quote from: fortif78 on May 13, 2015, 11:48:02 AM

It's a lot easier and faster to open google, or a textbook, and learn for yourself. Roll Eyes

I tried searching for it but found nothing. I've read the rules and guidelines and as far as I remember there is no mention of what I'm asking. I could spend hours going through EW books just to see if there is something on this specific subject, but why when there exists a dedicated EW thread where I can ask the pro's directly and in addition get feedback/criticism on my counts (not to mention that others might also benefit from the answer)?

However, I apologize if my questions are unwanted, and if chessnut tells me to I will stop posting.

Yes! It's called a running triangle and the triangle b makes a new price extreme beyond the origin of a.

I see, thanks. Seems like this is may have been what happened, but with triangle start earlier than I thought. Revised white count:

The triangle and divergence suggest termination soon (though the div may yet be overcome), so I'm assuming this is (c) and not a larger impulse.

RyNinDaCleM

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Legen -wait for it- dary

Quote from: JustAnotherSheep on May 13, 2015, 12:05:51 PM

Quote from: fortif78 on May 13, 2015, 11:48:02 AM

It's a lot easier and faster to open google, or a textbook, and learn for yourself. Roll Eyes

I tried searching for it but found nothing. I've read the rules and guidelines and as far as I remember there is no mention of what I'm asking. I could spend hours going through EW books just to see if there is something on this specific subject, but why when there exists a dedicated EW thread where I can ask the pro's directly and in addition get feedback/criticism on my counts (not to mention that others might also benefit from the answer)?

However, I apologize if my questions are unwanted, and if chessnut tells me to I will stop posting.

Yes! It's called a running triangle and the triangle b makes a new price extreme beyond the origin of a.

Afrikoin

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alan watts is all you need

Quote from: JustAnotherSheep on May 13, 2015, 11:26:20 AM

Noob question: Can the first wave of a regular corrective triangle be longer than the previous wave, or would that be invalid in terms of EW? I ask because if it is possible, it would allow for the potential green triangle count below, meaning break up instead of down (which my gut tells me is neither likely nor valid, but I feel it's good to map out all alternatives).

This is what i see now on the12 H. Not EW,but you can see why the price is holding steady here and potentially the next target

Topic: Critical Levels - EW analysis - page 38. (Read 355104 times)