One More Wave
Updated
Seems we just completed wave 3 of a larger time frame and wave (5) of a smaller time frame Elliot Wave. We are now looking to complete wave 4 which may end in an A B C D E correction here if the current C wave does not break out. And If 1550 holds support we should continue upward to wave 5 of the larger time frame between 2000 and 2136.
What do you guys think?
What do you guys think?
Comment
BCH broke out earlier today and by my count it's at wave (i) of its fractal wave counts before completing the larger wave 5. Remember impulse waves, like waves 1,3 and 5, must be made up of 5 lower time frame or fractal impulse wave to be considered an accurate Elliot Wave configuration.Just some doodling...
But who knows what will happen while bitcoin is nearing such an iconic number, 10K!
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BTC has reached all time highs folks! With all that movement our BCH projection had to be detoured. I am still bullish. Came very close to being stop lossed out to ensure I kept profit. New target after the WXY correction is the lower range of my previous analysis, ~2000.What do you guys think?
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Welp, that all out market crash destroyed our TA. Always use stop losses. My trades were stop-lossed out while still in profit. The safest decision while in such volatile markets now is to sit on cash. Luckily I am not on Bitfinex. It seems allot of people's stops did not execute due to server issues on that exchange. Might rework this chart when things calm down. Has anyone got an hedge in our current market environment?!
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BCH has been through allot these past few days but so has the entire crypto-verse. With flash crashes, people losing thousands on Bitfinex DDOS issues I am not surprised the market is a bit shaky. I hope a few have you have seen my BTC post and made some profit while BCH got itself together. I do think BTC should continue to follow my support line higher. But who knows...I think we have just completed a second extended correction on BCH. It is very rare a third one occurs. We might be on our way to wave five of our larger timeframe and wave (5) of our smaller time frame. Our current support line at (4) needs to hold or I will be exiting this trade with some room. I am looking at a 14.23% gain to (5).
What do you all think?
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Slowly but steadilyTrade closed: target reached
Just like that folks...Trade closed: target reached
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I like shorting my trades meaning I would sell at the top of my projections and wait for it to go back down before buying again before the next wave. For example I would sell top of wave 1 and 3 then buy back at wave 2 and 4 respectively for their next wave movement. Why not just leave it you might ask...well for my investment sums I would simply just leave it to ride the waves but for my trades I get more money when I sell the tops of my projections to the re-buy the low of the next wave projection to then sell again at the top. I am basically shorting my own positioningI would not do that after a wave 5 though as I would wait for it to correct and possibly do its wave 1 and maybe even complete 2 before hoping in.
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