Topic: CryptoWaves - Elliott Wave Analysis Blog - page 11. (Read 29200 times)
possible 5th wave blow out case.
I'm not buying while it's valid:
I guess we are trading on different time frames completely. Probably. I usually open long/short positions for weeks at least.
I'm not buying while it's valid:
I guess we are trading on different time frames completely. Im a day trader and long term holder, If that situation unfolded, you can bet I'd be short the best of the way down with my 20% funds on BFX. The way I see it, is that If I can catch a third wave (as I have) a leveraged day trading position may suddenly become a long term position to hold on to.
I'm not buying while it's valid:
A primary wave never stands alone, even in consolidation. this could be an A, but much more likely it is a primary.
If I see a primary wave where I expect one because of fundamentals, I'll forget the TA. Im NOT going to buy high to a lagging indicator, we can see with our own eyes.
If I see a primary wave where I expect one because of fundamentals, I'll forget the TA. Im NOT going to buy high to a lagging indicator, we can see with our own eyes.
"buy high" is somewhere around $1000
MUAhahahaha A primary wave never stands alone, even in consolidation. this could be an A, but much more likely it is a primary.
If I see a primary wave where I expect one because of fundamentals, I'll forget the TA. Im NOT going to buy high to a lagging indicator, we can see with our own eyes.
If I see a primary wave where I expect one because of fundamentals, I'll forget the TA. Im NOT going to buy high to a lagging indicator, we can see with our own eyes.
"buy high" is somewhere around $1000
also, buying the fifth wave is not a hold position, as usually it is 100% retraced. I will be shorting if it plays out clearly. I imagine it could be catalysed by the last of the chinese news - say Huobi shutting down.
If the fifth wave 100% retraces, then we won't break the 200-day EMA by it.
And it would mean we still won't break the downtrend line.
So, there are still no confirmations of an uptrend to me. I still have EW counts that tell me a possibility of the downtrend continuation within the next 3 weeks to the possible bottom at ~325. While this count is not invalidated, I will rather sit tight and see what happens.
Every EW counts should be confirmed by traditional TA and important EMAs.
A primary wave never stands alone, even in consolidation. this could be an A, but much more likely it is a primary.
If I see a primary wave where I expect one because of fundamentals, I'll forget the TA. Im NOT going to buy high to a lagging indicator, we can see with our own eyes.
also, buying the fifth wave is not a hold position, as usually it is 100% retraced. I will be shorting if it plays out clearly. I imagine it could be catalysed by the last of the chinese news - say Huobi shutting down.
If the fifth wave 100% retraces, then we won't break the 200-day EMA by it.
And it would mean we still won't break the downtrend line.
So, there are still no confirmations of an uptrend to me. I still have EW counts that tell me a possibility of the downtrend continuation within the next 3 weeks to the possible bottom at ~325. While this count is not invalidated, I will rather sit tight and see what happens.
Every EW counts should be confirmed by traditional TA and important EMAs.
Sounds strange to me. we have a leading indicator, but the EMA is telling you to buy the fifth wave. better idea, look to short the fifth of the fifth wave and make an absolute killing.
200-day EMA is a barrier which is hard to break. Once we break it, we won't dive below it anymore soon. So, if we break 200-day EMA, we'll have an extended 5th wave. Why not buy it if it's extended?
Or if we fail to break the 200-day EMA, we'll possibly break it by the 3rd wave of higher level. Why not buy the 3rd wave then?
we dont know that yet. sure, buy the fifth wave, but take the third wave gratefully, that is where the money lies.
also, buying the fifth wave is not a hold position, as usually it is 100% retraced. I will be shorting if it plays out clearly. I imagine it could be catalysed by the last of the chinese news - say Huobi shutting down.
Sounds strange to me. we have a leading indicator, but the EMA is telling you to buy the fifth wave. better idea, look to short the fifth of the fifth wave and make an absolute killing.
200-day EMA is a barrier which is hard to break. Once we break it, we won't dive below it anymore soon. So, if we break 200-day EMA, we'll have an extended 5th wave. Why not buy it if it's extended?
Or if we fail to break the 200-day EMA, we'll possibly break it by the 3rd wave of higher level. Why not buy the 3rd wave then?
Sounds strange to me. we have a leading indicator, but the EMA is telling you to buy the fifth wave. better idea, look to short the fifth of the fifth wave and make an absolute killing.
Primary wave took 1.5 days to complete, third wave took 2.5 days to complete. how many days will fifth wave take to complete?
Probably 2.5+1.5 = 4 days or (2.5+4.5)*1.618 = 6.5 days.
Or: 2.5-1.5 = 1 day.
But now I'm not sure we will continue going up.
why not?
I rely on EMAs for confirmations
Hmm, the weekend pump continues. That gives us some hope for an uptrend.
Primary wave took 1.5 days to complete, third wave took 2.5 days to complete. how many days will fifth wave take to complete?
Probably 2.5+1.5 = 4 days or (2.5+4.5)*1.618 = 6.5 days.
Or: 2.5-1.5 = 1 day.
But now I'm not sure we will continue going up.
why not?
Finally an impulse up. Hourly candle looks very similar to the one from $409 to $475 on the first wave of iii up.
.... many of us here believe this is wave V. can you please illustrate iii wave interpretation?
We are in agreement on the count - refer to my previous chart.
This is what I meant with the other comment.
yea even the pattern before those 2 boxes looks similar if you take out magnitude of the swings
Primary wave took 1.5 days to complete, third wave took 2.5 days to complete. how many days will fifth wave take to complete?
Probably 2.5+1.5 = 4 days or (2.5+4.5)*1.618 = 6.5 days.
Or: 2.5-1.5 = 1 day.
But now I'm not sure we will continue going up.
Primary wave took 1.5 days to complete, third wave took 2.5 days to complete. how many days will fifth wave take to complete?
Finally an impulse up. Hourly candle looks very similar to the one from $409 to $475 on the first wave of iii up.
.... many of us here believe this is wave V. can you please illustrate iii wave interpretation?
We are in agreement on the count - refer to my previous chart.
This is what I meant with the other comment.
sorry I misread your post. glad we all agree! this is a powerful reading.
Finally an impulse up. Hourly candle looks very similar to the one from $409 to $475 on the first wave of iii up.
.... many of us here believe this is wave V. can you please illustrate iii wave interpretation?
We are in agreement on the count - refer to my previous chart.
This is what I meant with the other comment.
Jump to: