mi_khan

mi_khan

Head and Shoulders all over the place

mi_khan

Just drew some interesting trendlines that one should follow. With regards to the title. I have learned the basics of Elliott Waves and tried to use it in my trading. Counting waves, especially for corrections, can prove to be a difficult endeavor. As such, I was thinking to teaming up with people who are already using Elliott Wave in their trading. The benefit...

mi_khan

A move and close above 240 should in my opinion invalidate this case. This is by no means a buy/sell signal.

mi_khan Updated 

Just some random trendlines and theories for future reference. This is not a buy/sell signal.

mi_khan

Just testing a scenario for future reference. Not an advice to buy/sell.

mi_khan Updated 

I just analyzed the internal waves of wave C, and if my analysis is correct, then BTC is heading to around $4200-$4400 or in worst case to around $2900-$3000 where there is real strong support. The analysis is based on a channel wave C is currently moving in and the fact that wave C is missing it's last leg (5th wave). If wave 3 = wave 5, then we end up at around...

mi_khan Updated 

After reanalyzing BTC, it seems like the 5th wave of C is missing. Looking at the fibs for major correction, it is giving me levels of around 4400 (78.6% of wave 1). Let's see how this goes. What do you guys think? This is by no means a buy/sell signal. Do you own research.

mi_khan

In my opinion, if the bullish scenario is to be true, then we should see a move to 9500 level. On the other side, if BTC breaks under the trendline, then the bearish scenario will be true. What do you say?

mi_khan

Maybe just my imagination, but if this is a rare case of wave 1 being an expanding triangle, then my observation is that wave 1 = wave 3, and wave 5 can either be equal to wave 3 or 1.618. The trendlines are interesting to follow as well. Let's see how this works out. Please do share what you think about this. This is by no means a buy/sell advice.

mi_khan

The picture is in log scale. Gave me a different perspective on BTCUSD. Don't know if one should use it for TA. But for me it seems to be suggesting that the correction possibly is over... I looked at it from different perspectives, and 2 of my 3 scenarios seems to be suggesting the same. What do you think? This is by no means a buy/sell advice.

mi_khan

Image shows it all. Let's hope out that it works out this way :) This by no means a buy/sell advice. Do your own research.

mi_khan

If the channel proves true (and there is a head and shoulder at the top as well), then the target will be 20 cents. This is by no means a buy/sell advice. Do your own research.