CryptoWaves - Elliott Wave Analysis Blog - page 2.

CryptoWaves

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Quote from: RyNinDaCleM on August 12, 2014, 02:05:25 AM

I have to give it the benefit of the doubt, and accept that the 4 you have labeled in it, though very disproportionate to the 2, might be the count.

Just as an aside; My Bearish count easily counts that as a zig-zag abc (5-3-5 for those not paying attention Tongue

) which is why I can't get full-on Bullish yet. Undecided

Good work, CW!

Thanks! I mentioned my issues with the short wave (4)-1 in the July 14th wave count post. Ideally, wave (4) should be the one that drifts sideways and burns time while wave (2) would be impulsive.

The bearish count is great to keep an eye on, though I will not make that a primary or consider it as a high probability option until the 78% retrace of Minor 1 at $415 is lost. I would expect a tremendous amount of buying power to step in that that level. In the short term, the 1-2 bull count and the bearish count both show price moving down.

Just jumped over to my daily squeeze chart that I've highlighted previously. The daily squeeze is setting up again, which is very exciting. I'll update on that as price settles a bit.

RyNinDaCleM

legendary

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Legen -wait for it- dary

Quote from: CryptoWaves on August 12, 2014, 01:18:49 AM

Bitcoin hourly Elliot Wave count has been updated at the site. Slight modifications were made to the wave count. Still in wave (b) of Minor 2 instead of in wave (c) of Minor 2 as proposed in my most recent update.

http://www.cryptowaves.com/bitcoin-usd-hourly-wave-count-august-11th-2014/

Enjoy!

I could see this as another possible count!
Still, I have a problem with the major 1. My Bullish count uses it, too, but I just can't get past the clear(er) 3 wave structure up from $339. I have to give it the benefit of the doubt, and accept that the 4 you have labeled in it, though very disproportionate to the 2, might be the count.

Just as an aside; My Bearish count easily counts that as a zig-zag abc (5-3-5 for those not paying attention Tongue

) which is why I can't get full-on Bullish yet. Undecided

Good work, CW!

CryptoWaves

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Bitcoin hourly Elliot Wave count has been updated at the site. Slight modifications were made to the wave count. Still in wave (b) of Minor 2 instead of in wave (c) of Minor 2 as proposed in my most recent update.

http://www.cryptowaves.com/bitcoin-usd-hourly-wave-count-august-11th-2014/

Enjoy!

prophetx

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he who has the gold makes the rules

Quote from: CryptoWaves on July 15, 2014, 04:08:28 AM

Quote from: elebit on July 15, 2014, 03:33:46 AM

Who's Elliott and what's the theory behind this?

You seem to pick out waves by hand, it that not very error prone?

Check out the 'Elliott Wave Basics' section on my site.

Applying the wave counts takes a great deal of 'reading' the charts. It's often said that if you get 5 Elliott Wave technicians together, they will all give a different count. Finding the correct count is the difficult part. For example, in my most recent post, theres important price levels that I noted, which if breached, would lead to alternate count variations.

More simply, there's more than one possible wave count at any given time and the one I present on the site is the highest probability based on my view of many indicators.

Before making this thread, I only ever found extremely simplified wave counts with big 1-2-3-4-5, paying no attention to fibonacci ratios or multi level wave degrees. It's very likely that I wasn't looking in the right spots because many other members have shown they know EWave as well.

Check out how well prophetx's count from the top of this thread page worked. Wink

that was actually chessnut who did that I PM'ed to see if he was willing to do another

CryptoWaves

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Quote from: CryptoWaves on July 15, 2014, 12:15:14 AM

Thanks for the comments. I wasn't sure if anyone was still reading.

Here's an update for everyone. Shoot any questions my way in the site comments or in this thread and I'll be sure to address them. Wave count details are on the site!

http://www.cryptowaves.com/bitcoin-usd-hourly-wave-count-july-14th-2014/

The primary count is looking good. No adjustments are needed to the count at this time.

The daily squeeze has not confirmed the breakout to the downside, yet, but it is very close. I will post an update when it triggers.

CryptoWaves

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Quote from: elebit on July 19, 2014, 08:27:18 AM

Quote from: CryptoWaves on July 15, 2014, 04:08:28 AM

Applying the wave counts takes a great deal of 'reading' the charts. It's often said that if you get 5 Elliott Wave technicians together, they will all give a different count. Finding the correct count is the difficult part.

So the method is never wrong, you just picked the "wrong" waves. Sounds very convienent. It reminds me of astrology. But I will give you the benefit of the doubt. I'll wait a month, and if the results stands I will listen.

Elliott Wave provides a rough roadmap of where price of any instrument may be heading. Looking for critical price levels of previous waves and fibonacci extensions gives a great deal more information than one would have if they just blindly buy or sell their Bitcoin when they have a gut feeling. Going short or long and setting a stop at critical price levels is a great way to use this method.

Look, I've already provided this link on my site that explains a safe way to use EWave to make trades.
http://education.afraidtotrade.com/education/elliott-wave-principle/

From my post last night, I show through my methods that a directional move is coming. It's technical analysis, not EWave work. Combining the two tells us that a wave iii UP or DOWN is coming. If you are unsure about the direction Bitcoin is heading right now then wait for a trend to establish itself and hop on in the direction of that trend once it is more clear, as explained in the link above.

Spelled out even more clearly

If Bitcoin is in a wave iii down move, price will drop below 608, the wave i down low, before it moves above 642. This is the EWave count from my Thursday post.
If Bitcoin is in a wave iii up move, price will rise above 642 (an alternate wave i high, if price is finished correcting moving into a new uptrend) before it drops below 608

elebit

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Quote from: CryptoWaves on July 15, 2014, 04:08:28 AM

Applying the wave counts takes a great deal of 'reading' the charts. It's often said that if you get 5 Elliott Wave technicians together, they will all give a different count. Finding the correct count is the difficult part.

So the method is never wrong, you just picked the "wrong" waves. Sounds very convienent. It reminds me of astrology. But I will give you the benefit of the doubt. I'll wait a month, and if the results stands I will listen.

CryptoWaves

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Bitcoin price setting up for another directional move. Which way will it break? Kiss

http://www.cryptowaves.com/btc-daily-squeeze-july-18th-2014/

CryptoWaves

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Quote from: elebit on July 15, 2014, 03:33:46 AM

Who's Elliott and what's the theory behind this?

You seem to pick out waves by hand, it that not very error prone?

Check out the 'Elliott Wave Basics' section on my site.

Applying the wave counts takes a great deal of 'reading' the charts. It's often said that if you get 5 Elliott Wave technicians together, they will all give a different count. Finding the correct count is the difficult part. For example, in my most recent post, theres important price levels that I noted, which if breached, would lead to alternate count variations.

More simply, there's more than one possible wave count at any given time and the one I present on the site is the highest probability based on my view of many indicators.

Before making this thread, I only ever found extremely simplified wave counts with big 1-2-3-4-5, paying no attention to fibonacci ratios or multi level wave degrees. It's very likely that I wasn't looking in the right spots because many other members have shown they know EWave as well.

Check out how well prophetx's count from the top of this thread page worked. Wink

elebit

sr. member

Activity: 441

Merit: 250

Who's Elliott and what's the theory behind this?

You seem to pick out waves by hand, it that not very error prone?

CryptoWaves

newbie

Activity: 38

Merit: 0

Thanks for the comments. I wasn't sure if anyone was still reading.

Here's an update for everyone. Shoot any questions my way in the site comments or in this thread and I'll be sure to address them. Wave count details are on the site!

http://www.cryptowaves.com/bitcoin-usd-hourly-wave-count-july-14th-2014/

CryptInvest

legendary

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Thanks for a great blog. I read constantly.

prophetx

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he who has the gold makes the rules

I really like this thread hope it comes back alive again soon

CryptoWaves

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Hello everyone! Long absence due to being out of the country for two weeks for work. New post - no EWave count, but I wanted to share this very reliable indicator with you all. Any questions, feel free to shoot and hopefully I'll get some time for an updated EWave count this weekend.

http://www.cryptowaves.com/long-btc-on-daily-momentum-squeeze-indicator/

prophetx

legendary

Activity: 1666

Merit: 1010

he who has the gold makes the rules