Ryans' log

[pinky]

that wick on the weekly is huge

Inverted hammer? We are at significant support.

[RyNinDaCleM]

...
btw, do you consider that this hidden bullish divergence has any importance?
...

To me that looks like hidden bearish.

That is indeed hidden Bullish divergence, however, as I said in the post about divergences, A divergence on the daily chart is a non-issue until the lower time frames catch up and complete their respective waves/divergences. This is why we can see a divergence grow bigger and bigger with each subsequent low.

Hidden Bullish divergence
The hidden Bullish divergence is a bit different to Regular Bullish divergence in that it is more of an accumulation of the asset. Heavy volume trying (and failing) to move the price down. This makes lower lows on indicators combined with higher lows in price.

That said, We are nearing the bottom of the III and we will see 3-6 weeks of correction to the upside/sideways.

[Schickeria]

that wick on the weekly is huge

Inverted hammer? We are at significant support.

Very weak signal imo.

[seleme]

So Ryan, you expect the bounce here, I see..

[myself]

that wick on the weekly is huge

Inverted hammer? We are at significant support.

that will be determined and confirmed by next week candlestick


http://thepatternsite.com/HammerInv.html

Inverted Hammer Important Results

Theoretical performance: Bullish reversal
Tested performance: Bearish continuation 65% of the time
Frequency rank: 61
Overall performance rank: 6
Best percentage meeting price target: 68% (bull market, up breakout)
Best average move in 10 days: 7.74% (bear market, up breakout)
Best 10-day performance rank: 9 (bear market, up breakout)

All ranks are out of 103 candlestick patterns with the top performer ranking 1. "Best" means the highest rated of the four combinations of bull/bear market, up/down breakouts.

The above numbers are based on hundreds of perfect trades. See the glossary for definitions.

[RyNinDaCleM]

So Ryan, you expect the bounce here, I see..

It appears to need on more down. It seems we are in iv of 5 of III right now, or very near

Edit:
That's all wrong! I have too many degrees
Give me a few to get this

[seleme]

So Ryan, you expect the bounce here, I see..

It appears to need on more down. It seems we are in iv of 5 of III right now, or very near

Edit:
That's all wrong! I have too many degrees
Give me a few to get this

Jeez, that EW thingy is so complicated

[RyNinDaCleM]

So Ryan, you expect the bounce here, I see..

It appears to need on more down. It seems we are in iv of 5 of III right now, or very near

Edit:
That's all wrong! I have too many degrees
Give me a few to get this

Jeez, that EW thingy is so complicated

It really is when you start getting into the finest of resolutions

This is the over all count

[seleme]

Boy, that doesn't look pretty, that box is huge     

[RyNinDaCleM]

Boy, that doesn't look pretty, that box is huge     

That's to show that the 5th can get ugly and extend quite a bit. Through today, I will update frequently as notable movements happen so I can try to give a more accurate target for the end. Hopefully before tomorrow when I'll be away for hours at a time.

[seleme]

Boy, that doesn't look pretty, that box is huge     

That's to show that the 5th can get ugly and extend quite a bit. Through today, I will update frequently as notable movements happen so I can try to give a more accurate target for the end. Hopefully before tomorrow when I'll be away for hours at a time.

Thanks

[myself]

https://i.imgur.com/z2fVH98.png *


* spam orders are excluded

if anyone was wondering whats is that red spike, there you have it it was a bitch slap

[vuduchyld]

So if that is a 5th of III, we will then enter a IV?  And that IV could be several weeks of sideways/upward movement, but it's still just a countertrend in a five wave downward movement, yes?

When the IV completes, we'd be looking at a potentially long V that could easily take us down lower than we are today, if I'm reading it correctly.  You'd be more likely to see an overall trend reversal after that V, if I'm not mistaken.  Maybe that starts around December/January and goes into the first part of next year?  I understand waves are tough to time.  But you wouldn't be looking for a major trend reversal until after the V, would you?

[RyNinDaCleM]

So if that is a 5th of III, we will then enter a IV?  And that IV could be several weeks of sideways/upward movement, but it's still just a countertrend in a five wave downward movement, yes?

When the IV completes, we'd be looking at a potentially long V that could easily take us down lower than we are today, if I'm reading it correctly.  You'd be more likely to see an overall trend reversal after that V, if I'm not mistaken.  Maybe that starts around December/January and goes into the first part of next year?  I understand waves are tough to time.  But you wouldn't be looking for a major trend reversal until after the V, would you?

Correct on all counts.
The only thing I would say is that IF (And that's a big if) this is indeed the v of 5 of V we may just have a failed C. But some of the indicators tell me this is not the case.

What you want to look for once we start the IV or any strong movement up from down here is the structure of the waves as we go up. Are they 3 waves or are they 5 waves? If we get 3 up then 3 down then 5 up for the A, then it's definitely corrective.

[RyNinDaCleM]

That was a big push down to be a bottom seller. I think the iii is done. EWO will make a trip to the zero line then we'll get our v of 5 of III.


The iv should stay South of $390, but invalidation is at $398.14

[vuduchyld]

Definitely following you now!  Thanks for the chat the other night...super helpful. 

I've been switching around between views from 60 minutes to 1 minute, and it sure looks to me like this little run up from 376 in the last hour is a iv in the 5.

So next is a v of that 5.

Not that I know shit, other than now I speak the language well enough to know what you're saying.

[vuduchyld]

Damn, definitely took a turn just while I was typing.

[RyNinDaCleM]

Definitely following you now!  Thanks for the chat the other night...super helpful.  

I've been switching around between views from 60 minutes to 1 minute, and it sure looks to me like this little run up from 376 in the last hour is a iv in the 5.

So next is a v of that 5.

Not that I know shit, other than now I speak the language well enough to know what you're saying.

I'm not sure that was the entire iv. The EWO barely budged. Selling pressure is through the roof, and it's as if someone can't get rid of them fast enough.
It's beginning to feel like every time I post something, walls start popping up. This may just be coincidence, but this is not the first time I've seen it.  
It was about 2 minutes after I posted about staying below $390, then a 1k wall popped up on $390. The other day a similar thing happened.

[Tzupy]

Hmm, maybe if you post again the chart with the correction going down to 20$ we'll reach the real bottom a little sooner.

Now seriously, how many significant drops (big volume down) do you expect until the real bottom is found?
I'd say 2 would be normal, 1 if truncated and 3 if extended.

[RyNinDaCleM]

Hmm, maybe if you post again the chart with the correction going down to 20$ we'll reach the real bottom a little sooner.

Now seriously, how many significant drops (big volume down) do you expect until the real bottom is found?
I'd say 2 would be normal, 1 if truncated and 3 if extended.

The bottom as in THE bottom? Or the bottom of III?

Bottom of III should be one more after getting a 4th wave pull back of any significance. Meaning lasting 4-6 hours and pulling back at least 23%.
THE bottom is at least a month or two away as long as the III I think we are in is not actually the V