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Truncation

Truncated 5th usually happens when 3ed is over extended,not hereIn our favored count 1st is extended not 3ed = Probably no truncation for 5th!!! -If Wave 5 is truncated, or contains an Impulse that is truncated, then neither Wave 3 nor Wave 4 can contain a subwave that is truncated. (A truncated pattern is where Wave 5 is shorter than Wave 4. This is also known as a failure.) -Requirements Given that we already experienced upward 5-wave move – and if That last 5th wave was shorter than where the 3rd wave extended into Followed by a strong move in the opposite direction …then, that experienced is likely a truncated 5th wav -Sometimes a fifth wave could be weak and end without reaching the end of the third wave. A situation like this calls a 'truncation', which we could face at the fifth wave of an impulse or ending diagonal. It's pretty rare if even possible to have a truncation in a position of the fifth wave of a leading diagonal. Usually, a truncation happens after a really strong third wave !!!!!!!!!!!!!!!!!! -How to recognize truncation It’s quite challenging to recognize a truncation in the real-time wave counting, so there’re some tips: -In most cases a truncation forms in impulses with huge third waves, so if we come to the conclusion that if there's such a case, we should watch out for a possibility to have a failure in the fifth wave. At the same time, there's always a choice if we have a five-wave price movement from the ending point for the fourth wave, but the market doesn't move beyond the end of the third wave. In a situation like this the five-wave price movement could be wave one of the fifth wave or the fifth wave itself. The key point here is what happens after this five-wave price movement after the fourth wave. If we have a local three-wave correction, then it's likely that the fifth wave is going to be continued. However, if a five-wave price movement forms instead, we should be aware to face a truncation in the fifth -Truncated fifth waves are among the trickiest patterns in the catalogue of the Elliott Wave Principle. The worst about them is that you can not predict a truncation. You can only guess, but the fact that a truncation may occur once in a hundred times makes guessing pointless. !!!!!!!!!!!!
SP:SPX
by samitrading
Following the bears until this trend line breaks for BTCThis is the wave pattern I am sticking to unless we break to a new high above the trend line (WITH MOMENTUM). If the price goes above the trend line in divergence to indicators then I am a seller and staying short (false break). The wave analysis shows 4800 minimum for wave 5 if the bearish trend line holds and the price plays into the forecasted support and resistance. Otherwise, the wave 5 was truncated and I drew it out wrong. No biggie, I will buy a little higher with a guaranteed trend instead of buying here and it drop to $4800. Questions let me know.
BITFINEX:BTCUSDShort
by CryptoMarket360
3
[Red Apple] "Higher High?? "_ BTC/USD _ 18.07.30there was breakout upward from triangle pattern in last briefing but it still move sideways. Let's start the analysis for BTC/USD chart. If you are busy, you can just read below briefly '1. Briefing ' '5. Summary and Strategy' before read, click '+Thumb up, +Follow' :-) 1. Briefing # Sideways Movement # Golden cross ( 20EMA and 100EMA ) on Daily Chart ?? # Supported 20EMA on 4H Chart ?? 2. Weekly Chart 1) Trend Supported by Trend Line 2) Candle Opening Marubozu 3) EMA a. Candle was closed above 20EMA(red) b. Candles haven't been over 20EMA more than 2 candles from Jan. 2018. c. Blocked by SMA50(Purple dot) 3. Daily Chart 1) Trend Supported by Trend Line 2) Candle Doji 3) Volume getting lower and lower -> soon, will increase. 4) EMA a. 20EMA(red) crossed over 100EMA(orange) 4. 4H Chart 1) Trend Same as daily 2) Volume getting lower and lower -> soon, will increase. 3) EMA Check whether it is supported by 20EMA or not 4) Pattern it can be recognized symmetrical pattern as i explained or flag pattern and rectangle pattern. 5) Elliott Waves Fifth wave can be truncated. 6) Fibonacci resisted at 0.786 5. Strategy and Summary a. About previous briefing : There was breakout of the triangle pattern. at the moment, upper side of the pattern is being retested or just up and down in the box. if somebody bought BTC/USD, do not sell in panic before breakout of trend line. b. About this briefing : Same as previous briefing For Aggressive trader : trade when symmetrical triangle is broken. -> can buy now ($8070 ~ $8130) -> set stop-loss below trend-line(2~3% lower than entry price) For Conservative trader : trade when the price mark higher than previous. Do not afraid of Stop-Loss. if you lose money~ then, prepare new game~. In my case, i bought when BTC retest a trend line after breakout of the line again.(about $8100) and got profit from some alts coin and now, if BTC is going down under trend line again, i'll also sell BTC and try to prepare another game. Trade safely and make your standards If you think my idea is helpful for you, Click '+Thumb up, +Follow' Also, if found something special, i will comment in real time.
BITFINEX:BTCUSD
by Red_Apple
Litecoin(LTC) Update : Double Truncation & Double Apex. In a recent movement of LTC/BTC, I observed double truncation pattern and double apex pattern(To say 'Double' is may not be a good word in this situation, but is used for emphasize the pattern is repeated.). In the chart above, Apex pattern was shown after Truncation pattern, and now the LTC is moving towards the 'e' point on the second Apex. As showed in a first Apex, LTC price can be droped a littlebit more than the 'e' point but price will be rising up soon. * Personal opinion I think the price of bitcoin in the current cryptocurrency market is working like the stock price index. Frankly, I do not like this situation but the market movement is very strongly related with the bitcoin price and is true. So, when I analize about altcoin I always try to analyze it through Altcoin / BTC charts.
by goyapro
Wave 3 of 3 of C of 2, and maybe truncated 5th to start 4 of C?It looks like we might now be on the third subwave of wave 3 of C of this correction, assuming it is an ABC correction for wave 2 of the higher degree uptrend. If so, we should see a strong bounce around 7800 and then sideways for a while for wave 4, before continuing on to wave 5. I think we might see a truncated 5th on this current 3rd wave down to start wave 4 on the higher degree. BTC seems to like truncated 5ths lately, and this would bring wave 3 of C to 1.618 of wave 1 of C. I'm new to Elliot Wave analysis so excuse my ineptitude and please let me know if you notice any formation rules or guidelines I am overlooking here. Thanks! I've been making new ideas to update my outlook as this correction has proceeded, and I've linked my old ones. Some of them have been off by a bit but the overall trend seems to be holding. I'm short until at least 7800 and then cautiously waiting to see how far we go past there. *edit* Here's an alternative count:
Short
by brettfb
Not truncated 5th and I had the wave count incorrect beforeLooks like I counted wave 4 as part of wave 5. I adjusted the wavecount on the previous wave C of B to properly count the 5th wave up. Now we appear to be on wave 2 of 5 of the final wave C of this correction. I am waiting for either 7600 to see if it bounces there and maybe I'll buy in, or it could go as low as 6000 since this would be wave 2 of the greater degree uptrend, in which case it could retrace almost the entirety of wave 1 (the previous uptrend from ~6000 to ~11700). So, I'm just waiting for the remaining 3 of 5 waves down to see how far they take it. If I see a strong bounce somewhere along the way I might reconsider my plans. I linked my other ideas to show how they have evolved as this correction has unfolded. If anyone knows a way to modify an already published idea let me know. I feel like I may be spamming ideas at this point? Not sure, new to this. Thanks for reading! They are all BTC/USD ideas because it seems pointless of me to try to predict the movement of alts when BTC seems to drag them all along with it. I'm looking to BUY between 7600 and 6000.
by brettfb
BTC Truncated 5th's and fractal movement?I was wrong and BTC kept climbing a bit further before losing steam on the latest run. It looks to me like we are near the end of wave B of this ABC correction within wave 2 of a bullish trend. I'm new to EW analysis so please let me know if anything seems to break the wave formation rules/guidelines. As far as I can tell everything conforms. For wave C down I just copy/pasted wave A, but it is likely to play out differently than wave A. If the current 5th wave rally breaks the top of wave 3, then maybe my analysis is faulty and BTC will continue climbing immediately!
Long
by brettfb
4
Bitcoin (BTC) Update: Does Elliott Impulse started? BTC price rebounded from $ 8400 points. I had expected a similar decline in the last posting 'Ongoing Flat correction', but actually it was steeper and stronger than I thought (the price plunge of altcoins). I observed ‘truncation’ in the red box shown on the chart. This means a change of trend, and the possibility of starting a new elliott impulse. So I think the elliott impulse has begun and suggest the chart above. In this chart, BTC rises as supported by a long-term downtrend indicated by a red dotted line. The goal of this price trip is about $ 12000, and will have a correction when the price reached this point. After the correction, BTC will resume the price trip to about $ 14000.
BITFINEX:BTCUSD
by goyapro