Ryans' log

[RyNinDaCleM]

@RyNinDaCleM

I see you are using sierracharts, but what are the names of the tools(or drawings if it made no sense) you are using to analyze the price?

Elliott Wave oscillator is the main study in this thread. Then I use Fibo retracement and Fibo projection for targets. I've modified my channel tool to include 0%, 25, 38.2, 50, 61.8, 75 and 100.

Damn, Ryan...you are goooooooooood!

Impressive history of calls in this thread. Wow.

nice call with the bull flag Ryn 

Thanks guys!

EWO indicator is just 5/34 MACD for OHLC average. Can be done in SierraChart as follows (F6 -> Add MACD -> Settings):

Also you won't need the "MA" and the "Difference" lines, so hide them:

The result looks like this:

EWO helps to identify waves 3, 4, 5. Also can be used to distinguish corrections from impulses.

A good reading on EWO: http://www.esignal.com/support/advancedget/manual/eSignal_Manual_ch7.pdf

Also google for "Elliott Wave Oscillator".

Very interesting, thanks! Just getting started with learning this Elliott Wave witchcraft, and that particular indicator seems incredibly useful

It really is!

[RyNinDaCleM]

The other day I thought my laptop was dieing, well it wasn't. But now it is... So I had to install SC onto my desktop along with collecting all my credentials for exchanges and charting and everything else, so I have had a bad day with all of this.

Now that I have it going (although I have none of my charts from this thread yet), I will say that this rise looks quite corrective and while it keeps looking like the bulls want to jump up one more level, they just can't muster the strength to do so. It's possible that we are in a ii off the 431 top from earlier.

[plopper50]

Bitstamp's chart from 404 to 378 looks clearly like ending diagonal.

Looks nested to me

What time zone is used for the times along the bottom axis of this chart?

[RyNinDaCleM]

Bitstamp's chart from 404 to 378 looks clearly like ending diagonal.

Looks nested to me

What time zone is used for the times along the bottom axis of this chart?

Always UTC for crypto

[canibalbranco]

Bitstamp's chart from 404 to 378 looks clearly like ending diagonal.

Looks nested to me
https://i.imgur.com/vJ0GbMO.png

What time zone is used for the times along the bottom axis of this chart?

Always UTC for crypto

UTC is sometimes known as Zulu time.

[RyNinDaCleM]

With a little more progress made since I went to bed, I see we have 3 up and 3 down. This could turn into one of two things. Either a triangle OR a larger ABC. I have the two targets in today's chart.


A note to make would be the possibility of a close below the weekly lower BB. This is significant, and can bring with it, some pain in the market. Be careful with longs.

[RyNinDaCleM]

With a little more progress made since I went to bed, I see we have 3 up and 3 down. This could turn into one of two things. Either a triangle OR a larger ABC. I have the two targets in today's chart.


A note to make would be the possibility of a close below the weekly lower BB. This is significant, and can bring with it, some pain in the market. Be careful with longs.

Bitstamp made a low below the wave-B effectively invalidating that triangle. The triangle can be drawn a little differently and the ABC is still valid, for now.
Also, when I said "This could turn into one of two things." in my last post, I misstated that. It is also still possible to have nested 1/2's. So not that the triangle or the ABC are the only two options. It was early here, I still had crust in my eyes... 

[RyNinDaCleM]

Today I want to share the 3 counts that I was talking about yesterday. The first one is the larger ABC (amongst my most likely outcomes) To find the target, I used 100% of the A and added it to the bottom of B. I will leave this target on the chart for the duration of this correction just to see how it plays out. I will still continue to update the count as we move along. For now, the 3 is targeted for ~$429.


I'll get the triangle up in a little bit. I just want to clean the chart up.

[Remember remember the 5th of November]

I have no idea how you see those patterns.

[RyNinDaCleM]

Here is the new triangle

[RyNinDaCleM]

I have no idea how you see those patterns.

Do you mean with the EWO in the background cluttering it up? Or just the waves in the chart?

When you stare at the charts and count everything enough, you begin to see the waves without even labeling them. I still keep them labeled because I have so many charts With enough practice, you will see them too.

[h3speros]

how possible is that we are still in this count?

(Ryan's chart from earlier post)

[RyNinDaCleM]

how possible is that we are still in this count?

(Ryan's chart from earlier post)

THis is the count I am still updating currently
The (iv) is what we are working on right now. The only difference between that chart and now is that the targets need to move over a bit
As I said before in this thread, I don't draw my targets with a time target because the useable blank space on my charts is, at times, not big enough to keep a readable chart

Here is the update of that chart. The red arrows are just to show that those targets would be moved over


Technically, we have hit the (iv) target, but it's looking like it wants to extend a bit.

[h3speros]

okay, thank you for clarification

[zby]

The triangle here looks perfect:


even though it does not fit your counts.

[Raystonn]

You can make any line with any two points.  Its not a significant line unless you have at least three points that line up, which would show the line to actually be a level of support or resistance.

[h3speros]

daily ma20 next stop?

[RyNinDaCleM]

From my phone... Can't analyze right now

[Queeq]

How did you know it's B and not 1st wave (leading diagonal) down?

[canibalbranco]

You can make any line with any two points.  Its not a significant line unless you have at least three points that line up, which would show the line to actually be a level of support or resistance.

Two points form a straight. Three points make a plan