Critical Levels - EW analysis - page 45.

WhatTheGox

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Quote from: chessnut on April 21, 2015, 02:21:05 AM

Quote from: Afrikoin on April 21, 2015, 01:59:42 AM

Quote from: chessnut on April 19, 2015, 04:47:21 AM

This is my adjusted count. having recognized the clear form of the triangle the moment it resolved I should have seen this one earlier.

Note that having a clear impulse count down to the 1335 level (just 35yuan short of my minimum target) it is possible, but not overly probable, and certainly not confirmed that an ABC, the yellow count, is playing out. My dominant count is however unchanged, I think there is significant risk of sub 1000 yuan retest soon.

What do you think about DanVs call for $300? A wave 4 retracement

Are you talking about his prediction here: https://www.tradingview.com/chart/BTCUSD/EUytkasj-BTCUSD-FURTHER-SHORT-TERM-WEAKNESS-IN-STORE-WITH-OF-TARGET-210/ , if so its down to $210 first.

Tzupy

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Due to lack of major action, MACD in several time frames is slowly recovering towards 0, and with weak positive divergence.
This looks similar to the semi-failed breakout of February 12th. But in 12h frame the MACD is still significantly lower than back then.
And lately bullish moves have lacked strength, so I have doubts that the market would be able to build a major bullish pattern (315+).

chessnut

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Quote from: Afrikoin on April 21, 2015, 01:59:42 AM

Quote from: chessnut on April 19, 2015, 04:47:21 AM

This is my adjusted count. having recognized the clear form of the triangle the moment it resolved I should have seen this one earlier.

Note that having a clear impulse count down to the 1335 level (just 35yuan short of my minimum target) it is possible, but not overly probable, and certainly not confirmed that an ABC, the yellow count, is playing out. My dominant count is however unchanged, I think there is significant risk of sub 1000 yuan retest soon.

What do you think about DanVs call for $300? A wave 4 retracement

I dont like it. he is counting an ED, thats a 3-3-3-3-3 move, but the keystone of this analysis is the impulse and complete flat from the 1800s.

Afrikoin

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alan watts is all you need

Quote from: chessnut on April 19, 2015, 04:47:21 AM

This is my adjusted count. having recognized the clear form of the triangle the moment it resolved I should have seen this one earlier.

Note that having a clear impulse count down to the 1335 level (just 35yuan short of my minimum target) it is possible, but not overly probable, and certainly not confirmed that an ABC, the yellow count, is playing out. My dominant count is however unchanged, I think there is significant risk of sub 1000 yuan retest soon.

What do you think about DanVs call for $300? A wave 4 retracement

damiano

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103 days, 21 hours and 10 minutes.

Very good as usual.

I'm counting a pop or run up to 228-232 before this slide down.

coinableS

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Quote from: chessnut on April 19, 2015, 04:47:21 AM

My dominant count is however unchanged, I think there is significant risk of sub 1000 yuan retest soon.

Thanks Chessnut for staying on top of this thread with your updates. Looks like I'll hold onto my fiat a little longer, maybe I'll be lucky enough to grab some of those sub 1000 yuan coins

chessnut

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This is my adjusted count. having recognized the clear form of the triangle the moment it resolved I should have seen this one earlier.

Note that having a clear impulse count down to the 1335 level (just 35yuan short of my minimum target) it is possible, but not overly probable, and certainly not confirmed that an ABC, the yellow count, is playing out. My dominant count is however unchanged, I think there is significant risk of sub 1000 yuan retest soon.

btc4lifer

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Quote from: Tabata11 on April 17, 2015, 01:38:29 PM

What is the point of analyzing if whales can manipulate the price ...

If whale/s wanted to truly manipulate they'd need to bring other speculators along with them by molding their manipulation such that other traders with similar skill sets (elliott wave in this case) would be able to interpret and there by join in and help make what they want happen.

Tabata11

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What is the point of analyzing if whales can manipulate the price ...

Globb0

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Free spirit

Thanks for the reply.

JustAnotherSheep

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Quote from: Globb0 on April 17, 2015, 05:05:35 AM

What is the ideal candle size to use when looking at ew? 12h, 4h, 1h? 1d?

Everything changes at every scale.

Sometimes I feel like I can get the overall feeling on big zoom and then go closer and see how it is pulling towards or away from it.

E-Waves are fractal, and so theoretically can be analyzed (and traded) at any scale. Realistically though, volume sets a lower limit of where waves are discernible. On sideways days at low volume exchanges (like Bitstamp as of late) you'll be hard-pressed to find form on anything below 15/30min candles. However, during moments of extreme volatility/volume (such as the drop to $160 bottom) you can easily spot clear wave structure on scales as low as 1min.

I believe the general rule of thumb is to track waves on at least 3 fractal degrees; One where you trade, one above for confirmation with the bigger picture, and one below for confirmation of subwave structure (at least that's what I do).
As long as you are able to do that, it should to my knowledge not matter much whether you are looking at daily or 15min candles, the rules and patterns are the same.

8up

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Quote from: Feri22 on April 17, 2015, 05:13:02 AM

Quote from: 8up on April 17, 2015, 04:41:50 AM

Quote from: podyx on April 17, 2015, 04:36:06 AM

Looks like we won't see 240? Seems like we're just going down instead

In any case we will have to retest 210 to 215 one or two more times.

I think we'll even have to retest 200 too...

Yeah can see an overshoot (and collapse of bear phantasies) coming as well. Shouldn't last to long otherwise it is a sign for a pro-longed bearmarket.

Feri22

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Quote from: 8up on April 17, 2015, 04:41:50 AM

Quote from: podyx on April 17, 2015, 04:36:06 AM

Looks like we won't see 240? Seems like we're just going down instead

In any case we will have to retest 210 to 215 one or two more times.

I think we'll even have to retest 200 too...

Globb0

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Free spirit

What is the ideal candle size to use when looking at ew? 12h, 4h, 1h? 1d?

Everything changes at every scale.

Sometimes I feel like I can get the overall feeling on big zoom and then go closer and see how it is pulling towards or away from it.

8up

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Activity: 618

Merit: 500

Quote from: podyx on April 17, 2015, 04:36:06 AM

Looks like we won't see 240? Seems like we're just going down instead

In any case we will have to retest 210 to 215 one or two more times.

podyx

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Looks like we won't see 240? Seems like we're just going down instead

Tzupy

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Quote from: Bicmac1973 on April 17, 2015, 02:13:52 AM

It seems as if Ryns yellow count plays out, or is it just too early to tell?

Yes, it seems so, after this apparently minor correction. To confirm this we should see a failed breakout tomorrow.

Bicmac1973

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It seems as if Ryns yellow count plays out, or is it just too early to tell?

phoenix1

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Quote from: HeliKopterBen on April 16, 2015, 08:51:59 PM

Quote from: RyNinDaCleM on April 16, 2015, 07:22:36 PM

I'm giving an 85% chance we see double digits in this bear market. Bold, I know, but it just doesn't look good for any bullish scenario to develop in the near to mid term.

You might as well make it an even 90% Grin

. I would give about a 20% chance of double digits in this bear market but about a 70% chance of lower prices from here. It's hard to say that a market will drop 56.5% from current prices when the current price is already down 80%, even with bitcoin. I believe there is a decent chance that 200-210 support holds and prices rise from here back to ATH. I won't be surprised if it happens.

How about we take this somewhere else, outside of this thread ... cast your votes !!

https://bitcointalksearch.org/topic/pollhow-likely-do-you-think-it-is-we-see-double-digits-in-2015-1026986

chessnut

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Quote from: btc4lifer on April 16, 2015, 07:56:36 PM

@chessnut can you please explain how the ABC conbination in your chart is able to be a flat and have a largish volume event happen for the B.

Isn't the point of a flat that A only has three waves due to lack of follow through in the market and that B is a correction of nearly 100% of A?

I'm not trying to troll at all, just trying to learn and understand EW.

Hey,

A triangle is an example of 5 wave of 3, they occur in wave B or iv position, they are not considered impulsive, it is just a phenomena that genuine triangles are observed to have 5 waves of 3. The triangle in this count is not a critical part of the count, there are other ways to get around that, but the triangle is good form.

Wave B may retrace more than wave A, the definition of a running flat is where wave B goes a step further. They are not common, only in markets of particularly strong rate of change, wave iii is one example of this kind of situation.

Yeah, it would make a big wave B if thats what it is, I cant say much for the volume.

We have little choice of alternate counts in this situation because the larger time frames are just excellent form. We are assuming that we are in an impulse and that it s not complete.

Topic: Critical Levels - EW analysis - page 45. (Read 355110 times)