CryptoWaves - Elliott Wave Analysis Blog - page 13.

chessnut

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Quote from: fr33d0miz3r on April 18, 2014, 02:21:38 AM

Quote from: chessnut on April 18, 2014, 02:14:06 AM

After a quiet and stagnant day, the bidding begins as expected Grin

I dont think we will need to worry about a 266 retest. I don't think that can happen.

But don't trade until we break the 200-day EMA

thats not my style Cheesy

i buy low with leading indicators. I would never buy into a fifth wave using a lagging indicator.

fr33d0miz3r

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Quote from: chessnut on April 18, 2014, 02:14:06 AM

After a quiet and stagnant day, the bidding begins as expected Grin

I dont think we will need to worry about a 266 retest. I don't think that can happen.

But don't trade until we break the 200-day EMA. There is another huge bearish possibility:

chessnut

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After a quiet and stagnant day, the bidding begins as expected Grin

I dont think we will need to worry about a 266 retest. I don't think that can happen.

fr33d0miz3r

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If our bullish counts become invalidated, then we could see a wedge which acts as a wave C:

So, there could be a $266 retest.

RyNinDaCleM

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Legen -wait for it- dary

Quote from: fr33d0miz3r on April 17, 2014, 08:02:41 PM

Quote from: RyNinDaCleM on April 17, 2014, 07:39:18 PM

Quote from: fr33d0miz3r on April 17, 2014, 06:02:06 PM

RyNinDaCleM, how can a wedge act as a wave A according to EW? I thought it could be only a wave 5 or C.

It would be what is known as a leading diagonal. It can be an A or a 1. It has a structure similar to an impulse (5-3-5-3-5) except it usually has overlapping 1 and 4 waves.

I deleted my post because it's not technically a wedge by EW standards since the 1 makes a lower low than the 3

Also, it's not a 5-3-5-3-5 structure.
But the daily candle of the end of the wave 1 closed exactly on the lower trend line.

That's what invalidates it! All waves must touch the line without breaking it. The only wave that can break the line is 5. That's called a throw-over. The same rules apply with triangles. The E wave can fall short or it can break the line as long as it doesn't go beyond the C.

fr33d0miz3r

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Quote from: ?? on ??

... LOL its at $202.... ages ago. nvm.

Oh bitcoin you so crazy Grin

fr33d0miz3r

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Quote from: ?? on ??

hey, 1k wall on Stamp, Shocked

which wall?

fr33d0miz3r

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Quote from: ?? on ??

a blow out fifth wave would make me a happy chappy Grin

Sorry, we also have a 100-day EMA at 567. So, the projection below would be more correct, I guess.
Also, the end of 4th wave would be at 0.618 fib level in this case Wink

AND: Pump to $700 and then a correction to 567 or 540 would draw us a big inverted H&S pattern on the daily, which would cause a massive panic buy Grin

Something like this:

fr33d0miz3r

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How about this: pump to $667 and then a correction to $540 which would be a 200 EMA support test and a 0.382 fib level.

chessnut

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I like the way you are thinking Grin

Pimped up my chart lol

fr33d0miz3r

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How about this possible trendline? We are sitting on it right now Grin

Pump in 3... 2... 1...

chessnut

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Quote from: fr33d0miz3r on April 17, 2014, 09:22:12 PM

Quote from: chessnut on April 17, 2014, 09:18:48 PM

Nice chart. But now something to consider, bottom of wave iv is then very close to top of wave one. we should not expect pin point accuracy, so maybe in this case, we should prepare for a breach of 440. That would be very bearish. I would be wary of this only if 480 is broken.

But we should now have a great support at $464 (300 EMA). If we break it, then yes, bear is our friend now again.

yes we should, but our analysis will be tested within $20 range. if it hits 440 we should be prepared for that, it is not far away.

fr33d0miz3r

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Quote from: chessnut on April 17, 2014, 09:18:48 PM

Nice chart. But now something to consider, bottom of wave iv is then very close to top of wave one. we should not expect pin point accuracy, so maybe in this case, we should prepare for a breach of 440. That would be very bearish. I would be wary of this only if 480 is broken.

But we should now have a great support at $464 (300 EMA), and going to $450 is not mandatory.

But if we break the $464 support, bear is our friend again.

chessnut

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Nice chart. But now something to consider, bottom of wave iv is then very close to top of wave one. we should not expect pin point accuracy, so maybe in this case, we should prepare for a breach of 440. That would be very bearish. I would be wary of this only if 480 is broken.

fr33d0miz3r

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Quote from: chessnut on April 17, 2014, 08:55:21 PM

If you think 450-470 is iv/III then I think that's a pretty good reading.

yep. So, if it works out, we gonna have a weekend pump, which is pretty good for closing the weekly candle Wink

Also, every EW count should be compatible with important EMAs' support/resistance levels. It works very well for me.

chessnut

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If you think 450-470 is iv/III then I think that's a pretty good reading.

fr33d0miz3r

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I guess we are going to test the $464 level (to test the support of broken 300-day EMA, also the 10-day EMA is there) before breaking the $540 level (200-day EMA). Once we break $540, we won't can dive under it.

chessnut

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What does everybody think about this?

.... seems a bit bearish atm, but then again, fifth waves are weak. break under 455 would invalidate the whole thing.

fr33d0miz3r

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Quote from: RyNinDaCleM on April 17, 2014, 07:39:18 PM

Quote from: fr33d0miz3r on April 17, 2014, 06:02:06 PM

RyNinDaCleM, how can a wedge act as a wave A according to EW? I thought it could be only a wave 5 or C.

It would be what is known as a leading diagonal. It can be an A or a 1. It has a structure similar to an impulse (5-3-5-3-5) except it usually has overlapping 1 and 4 waves.

I deleted my post because it's not technically a wedge by EW standards since the 1 makes a lower low than the 3

Also, it's not a 5-3-5-3-5 structure.
But the daily candle of the end of the wave 1 closed exactly on the lower trend line.

RyNinDaCleM

legendary

Activity: 2408

Merit: 1009

Legen -wait for it- dary

Quote from: fr33d0miz3r on April 17, 2014, 06:02:06 PM

RyNinDaCleM, how can a wedge act as a wave A according to EW? I thought it could be only a wave 5 or C.

It would be what is known as a leading diagonal. It can be an A or a 1. It has a structure similar to an impulse (5-3-5-3-5) except it usually has overlapping 1 and 4 waves.

I deleted my post because it's not technically a wedge by EW standards since the 1 makes a lower low than the 3

Topic: CryptoWaves - Elliott Wave Analysis Blog - page 13. (Read 29192 times)