Critical Levels - EW analysis

[chessnut]

this is the failure count. because of the unclarity of the larger bearish count ill wait for confirmation of v down before next trade. close longs at breakeven

[chessnut]

This is still the most bearish count we can expect within the larger picture.

EDIT: note this is not a trade just forward planning.

[chessnut]

Alternatively with a breakout such as this we can start to look for a long with favorable risk/reward.

[Phillis]

hey, I am a long time lurker of this thread (amazing thread, by the way). And I have a few questions for the EW traders here. I am currently involved with a bitcoin bot project (https://www.haasonline.com) and we were looking at ways to include some of the methodology or at least work out a way for EW traders to utilize our software.

We currently have a feature called order bots, which are basically bots that execute trades based on logical expressions. For instance, "if the price of BTC is lower/higher than $XXX, then Buy/Sell." Currently, these expressions can be strung together and have dependencies on other expressions, which (from my perspective) could be used in conjunction with EW target levels. If I am correct in this thinking, we would just need to support leveraged trading on bitfinex/OkCoin for this to be useful for EW traders? If there anything else that would be needed?

Thanks in advance and feel free to PM me if you don't want to clutter up this thread.

[chessnut]

after an uninspirig sideways action the count is becoming consistent with the wave v count. we have evidence to believe we are in a triangle right now, this should play out in a day or two. Triangles are always terminal moves!, this is a hard rule, means we are close tothe bottom if this plays out a triangle. There are limits how far this can go so we may be offered a clear cut leading buy signal in the coming days.

[Coinshot]

after an uninspirig sideways action the count is becoming consistent with the wave v count. we have evidence to believe we are in a triangle right now, this should play out in a day or two. Triangles are always terminal moves!, this is a hard rule, means we are close tothe bottom if this plays out a triangle. There are limits how far this can go so we may be offered a clear cut leading buy signal in the coming days.

If it is wave v, does this mean no 2xx? I was quite looking forward to it, even had some fiat ready to buy.

[madmat]

I am moving fiat to kraken, I will be ready to buy tomorrow. Ready to ride next wave up. Thanks again for your thread.

[chessnut]

after an uninspirig sideways action the count is becoming consistent with the wave v count. we have evidence to believe we are in a triangle right now, this should play out in a day or two. Triangles are always terminal moves!, this is a hard rule, means we are close tothe bottom if this plays out a triangle. There are limits how far this can go so we may be offered a clear cut leading buy signal in the coming days.

If it is wave v, does this mean no 2xx? I was quite looking forward to it, even had some fiat ready to buy.

Sorry, this is a confusing thing you must learn about ew. there are many fractal degrees we must deal with. there may be wave ((v)), wave (v), wave v, wave (V) and wave V wave 5 etc..... we will still probably get a wave V to 2xx, but this is wave (v) of (c) of (B) of IV. Wave C will take us up to 4xx.

[madmat]

after an uninspirig sideways action the count is becoming consistent with the wave v count. we have evidence to believe we are in a triangle right now, this should play out in a day or two. Triangles are always terminal moves!, this is a hard rule, means we are close tothe bottom if this plays out a triangle. There are limits how far this can go so we may be offered a clear cut leading buy signal in the coming days.

If it is wave v, does this mean no 2xx? I was quite looking forward to it, even had some fiat ready to buy.

Sorry, this is a confusing thing you must learn about ew. there are many fractal degrees we must deal with. there may be wave ((v)), wave (v), wave v, wave (V) and wave V wave 5 etc..... we will still probably get a wave V to 2xx, but this is wave (v) of (c) of (B) of IV. Wave C will take us up to 4xx.

I agree, it is confusing. Maybe an image for each fractal degree would help to grasp the bigger picture.

[RyNinDaCleM]

after an uninspirig sideways action the count is becoming consistent with the wave v count. we have evidence to believe we are in a triangle right now, this should play out in a day or two. Triangles are always terminal moves!, this is a hard rule, means we are close tothe bottom if this plays out a triangle. There are limits how far this can go so we may be offered a clear cut leading buy signal in the coming days.

If it is wave v, does this mean no 2xx? I was quite looking forward to it, even had some fiat ready to buy.

Sorry, this is a confusing thing you must learn about ew. there are many fractal degrees we must deal with. there may be wave ((v)), wave (v), wave v, wave (V) and wave V wave 5 etc..... we will still probably get a wave V to 2xx, but this is wave (v) of (c) of (B) of IV. Wave C will take us up to 4xx.

chessnut, may I make a couple of suggestions?

If we are in (iv), then also show the (iii) extreme (and labeled). This is the easiest way to orient the viewer to your pic. Anyone who is/has been following, will have an idea of the larger count, so this will make it easy to see where you are pointing and what you are trying to convey.

Occasionally, show a zoomed out larger image of the over all count you are working with. This will remind people of the larger waves of which you are breaking down the sub-waves for. Now, I don't mean an all-time count, but if we are in iv of C of (B), then show the whole C including the B extreme/label. Or even (when reasonable) the whole correction/impulse up until now. This will also help others to see as it unfolds and grasp the concept of EW. The followers will continue following when they aren't confused

Now back to your regularly scheduled program..

[intighet]

after an uninspirig sideways action the count is becoming consistent with the wave v count. we have evidence to believe we are in a triangle right now, this should play out in a day or two. Triangles are always terminal moves!, this is a hard rule, means we are close tothe bottom if this plays out a triangle. There are limits how far this can go so we may be offered a clear cut leading buy signal in the coming days.

If it is wave v, does this mean no 2xx? I was quite looking forward to it, even had some fiat ready to buy.

Sorry, this is a confusing thing you must learn about ew. there are many fractal degrees we must deal with. there may be wave ((v)), wave (v), wave v, wave (V) and wave V wave 5 etc..... we will still probably get a wave V to 2xx, but this is wave (v) of (c) of (B) of IV. Wave C will take us up to 4xx.

chessnut, may I make a couple of suggestions?

If we are in (iv), then also show the (iii) extreme (and labeled). This is the easiest way to orient the viewer to your pic. Anyone who is/has been following, will have an idea of the larger count, so this will make it easy to see where you are pointing and what you are trying to convey.

Occasionally, show a zoomed out larger image of the over all count you are working with. This will remind people of the larger waves of which you are breaking down the sub-waves for. Now, I don't mean an all-time count, but if we are in iv of C of (B), then show the whole C including the B extreme/label. Or even (when reasonable) the whole correction/impulse up until now. This will also help others to see as it unfolds and grasp the concept of EW. The followers will continue following when they aren't confused

Now back to your regularly scheduled program..

+1 Would make it much easier to follow.

[chessnut]

This is a good short scalp, stop above 2088. Triangles thrust violently. the risk reward here is good. target 20xx

[chessnut]

The above trade is behaving well. the more we go down from here, the more valid it becomes. good R/R to short even at 2140. target 2050. Stoploss 2180.

[karol]

HI still looking good for You?
Recently ask side reduce from 1500 to 500 at 2180, stamp seems to want to go up as well what do You think?

[chessnut]

HI still looking good for You?
Recently ask side reduce from 1500 to 500 at 2180, stamp seems to want to go up as well what do You think?

Looking very good imo. We have broken the primary trend line showing we are not accelerating. stop above 2180 is excellent risk reward.

[Afrikoin]

On Bitstamp the trend line support hasn't broken yet. Does Huobi lead Bitstamp?

See https://i.imgur.com/J9Le6Vy.jpg?1

[chessnut]

On Bitstamp the trend line support hasn't broken yet. Does Huobi lead Bitstamp?

See https://i.imgur.com/J9Le6Vy.jpg?1

Yes China is daddy, it leads most of the time.

[chessnut]

We have had non impulsive movement to the downside. this is disappointing because it means we could break out to the upside from here. chance is 50/50. a breakout to the downside would still be violent. 2175 is the number to break.

[chessnut]

With shorts on okcoin at a high I think it might be wise to assume a neutral position here. sentiment is a significant part of ew.

[Raystonn]

With shorts on okcoin at a high I think it might be wise to assume a neutral position here. sentiment is a significant part of ew.

Queue the image where everyone switches from "SELL!  SELL!" to "BUY!  BUY!".