If the market stays below 17,735 then it will test the lows. Now this is fucking useless btw as he doesn't say in which period...
It is not useless and he means what he said precisely. If the market EVER (well Armstrong said by 1 quarter at latest) moves above 17,735 before having the false move to downside to create the slingshot effect, then there won't be a slingshot. But he also said that the absence of a slingshot won't rule out the phase transition to a 32 - 40K level by 2017.
a) If "EVER" is the time frame then it does not provide day traders (the majority of traders on the market) with lot of materials. I am a big fun of technicals, just like Armstrong is, for instance I am using Elliot Wave analyses frequently and we can't base our trades on the "EVER" time frame. It just doesn't work like that. I am sure Armstrong had a time frame in his mind - he just didn't spell it out. The Q1 was the end event, the new lows will be in place then, so the slingshot as the result of not breaking the 17,735 resistance must be a lot sooner than Q1.
b) He said, if all conditions meets (i.e. stay below 17,735, then the market moves lower to have room for the slingshot, then the slingshot move up), then the collapse following the slingshot would be in Q1 2016. That means he must expect that slingshot pretty soon - if that happens at all. That's why I assumed that his time frame must be in the next few weeks with regards to that 17,735 resistance, whether it will be broken or not. This whole stuff must happen soon (if it happen at all) in order to get the slingshot move and get the highs and the collapse in Q1 2016.
So I believe the "EVER" was not in his mind with regards to that 17,735 criteria, and that's why said it would be more useful if he could provide a time frame for that criteria.
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P.S. I am leaving the forum, but I do want you all to get better at reading Armstrong. I hope one of you can do this sort of introspection for me going forward.
What happened? You know, the crypto community need your exceptional intellect. Don't take to your heart disagreements with the community! It happens, but it is more important that we respect your knowledge and how smart you are, even if it is not always easy to deal with you temper.
Seriously, stay and lets build together a great crypto currency which has been your plan!