SkyValeey
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December 08, 2014, 01:28:18 PM |
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Permabull doesn't need any analysis and charts ![Grin](https://bitcointalk.org/Smileys/default/grin.gif)
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Tzupy
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December 08, 2014, 02:51:08 PM |
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Chessnut, I think it's time to let go of the "trending toward 2450" scenario and think about the next local bottom, 2100 or 1950?
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Sometimes, if it looks too bullish, it's actually bearish
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LFC_Bitcoin
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December 08, 2014, 03:23:09 PM |
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keystroke
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December 08, 2014, 04:07:40 PM |
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New bg pic on my galaxy s3.
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"The difference between a castle and a prison is only a question of who holds the keys."
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LFC_Bitcoin
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December 08, 2014, 04:26:22 PM |
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Good man ^^
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asdlolciterquit
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December 08, 2014, 08:18:13 PM |
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Permabull doesn't need any analysis and charts ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) yep...if you are a permabull, why do you need chart? you already know what will happen..
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chessnut (OP)
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December 09, 2014, 12:34:05 AM |
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Permabull doesn't need any analysis and charts ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) Im not a perma bull, Ive ridden some great shorts actually and probably many to come. Chessnut, I think it's time to let go of the "trending toward 2450" scenario and think about the next local bottom, 2100 or 1950?
I agree that the idea we are trending has changed but I do not agree that entails we should turn bearish right now. I think this market could burn bears here. There is simply no impulse, this market has no motive, EW will not be effective until there is.
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CryptoWaves
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December 09, 2014, 09:13:31 AM |
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[A wild CryptoWaves appears]There is simply no impulse, this market has no motive, EW will not be effective until there is.
You got that right. Keep fighting the good fight, Chessnut! My two cents - triple nested 1-2 up since the $275 bottom, valid as long as tonight's low holds. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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madmat
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December 09, 2014, 09:17:49 AM |
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[A wild CryptoWaves appears]There is simply no impulse, this market has no motive, EW will not be effective until there is.
You got that right. Keep fighting the good fight, Chessnut! My two cents - triple nested 1-2 up since the $275 bottom, valid as long as tonight's low holds. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) Could you explain the meaning of it ?
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CryptoWaves
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December 09, 2014, 09:29:17 AM |
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Rough count - since you asked. https://www.tradingview.com/x/Ia9aG4CX/Suggests we are possibly headed towards a 3rd wave. Tradable opportunity with a $10 stoploss doesn't come up often. 1-2-(1)-(2)-i-ii
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podyx
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December 09, 2014, 09:44:50 AM |
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Rough count - since you asked. https://www.tradingview.com/x/Ia9aG4CX/Suggests we are possibly headed towards a 3rd wave. Tradable opportunity with a $10 stoploss doesn't come up often. 1-2-(1)-(2)-i-ii Oh, wow, I wish!
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madmat
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December 09, 2014, 09:50:41 AM |
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Rough count - since you asked. https://www.tradingview.com/x/Ia9aG4CX/Suggests we are possibly headed towards a 3rd wave. Tradable opportunity with a $10 stoploss doesn't come up often. 1-2-(1)-(2)-i-ii Thanks for this chart. I don't really understand where the 3 (the green one) is going to be, I have to study EW a lot more i think. I am a little bit lost.
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phoenix1
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December 09, 2014, 12:21:39 PM |
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From DanV, this is a much more likely scenario IMO, with the next impulse down to test the lows now unfolding It is what I have been watching for the last weeks and seems to be going exactly according to plan https://www.tradingview.com/x/3h0MJ3jI/
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"Before you embark on a journey of revenge, dig two graves" - Confucius (China 551BC-479 BC)
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Queeq
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December 09, 2014, 12:36:48 PM |
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From DanV, this is a much more likely scenario IMO, with the next impulse down to test the lows now unfolding It is what I have been watching for the last weeks and seems to be going exactly according to plan https://www.tradingview.com/x/3h0MJ3jI/AFAIK between WXY and triangle (which is Z) formation should be one more X giving us W-X-Y-X-Z.
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phoenix1
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December 09, 2014, 12:49:07 PM Last edit: December 09, 2014, 01:53:25 PM by phoenix1 |
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From DanV, this is a much more likely scenario IMO, with the next impulse down to test the lows now unfolding It is what I have been watching for the last weeks and seems to be going exactly according to plan https://www.tradingview.com/x/3h0MJ3jI/AFAIK between WXY and triangle (which is Z) formation should be one more X giving us W-X-Y-X-Z. Label it differently with A as the $418 high (14 Oct), B as the $318 low (2nd Nov) followed by W-X- Y, with the triangle being the Y . W = 454, X = 342, Y = 377.5 at end of the triangle. That would complete IV and see us in V of (C) now DanV seems to have his own unique system of labelling I am told ! ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) I suggested it here, but got no feedback ... Figure 20 flipped over (as this could all be an upwards correction in a downtrend) seems like a possiblilty here, a triple 3 off $275 ending in a triangle for Y (end of IV), and a break to the downside on completion, the start of Wave V http://www.elliottwave.net/educational/basictenets/basics3.htmAny thoughts Ellioticians ?? I had a PM chat with someone I respect, who confirmed that it was entirely valid EDIT: corrected labelling
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"Before you embark on a journey of revenge, dig two graves" - Confucius (China 551BC-479 BC)
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BitCoinNutJob
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December 09, 2014, 01:05:11 PM |
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From DanV, this is a much more likely scenario IMO, with the next impulse down to test the lows now unfolding It is what I have been watching for the last weeks and seems to be going exactly according to plan https://www.tradingview.com/x/3h0MJ3jI/Also been following him for a couple months, he was spot on with the last move up, not sure about this one. I like his approach of not working too hard - focusing on the price movements daily. Also he thinks its time to buy Litecoin now, im in already ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) .
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phoenix1
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December 09, 2014, 01:12:03 PM |
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From DanV, this is a much more likely scenario IMO, with the next impulse down to test the lows now unfolding It is what I have been watching for the last weeks and seems to be going exactly according to plan https://www.tradingview.com/x/3h0MJ3jI/Also been following him for a couple months, he was spot on with the last move up, not sure about this one. I like his approach of not working too hard - focusing on the price movements daily. Also he thinks its time to buy Litecoin now, im in already ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) . The uncertainty is a characteristic of a Wave 1 ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) People becoming certain and piling on would create the characteristic thrust of a Wave 3 , if this is indeed the correct count, which of course, remains to be seen ...
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"Before you embark on a journey of revenge, dig two graves" - Confucius (China 551BC-479 BC)
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Tzupy
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December 09, 2014, 01:29:58 PM |
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From DanV, this is a much more likely scenario IMO, with the next impulse down to test the lows now unfolding It is what I have been watching for the last weeks and seems to be going exactly according to plan https://www.tradingview.com/x/3h0MJ3jI/Also been following him for a couple months, he was spot on with the last move up, not sure about this one. I like his approach of not working too hard - focusing on the price movements daily. Also he thinks its time to buy Litecoin now, im in already ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) . The uncertainty is a characteristic of a Wave 1 ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) People becoming certain and piling on would create the characteristic thrust of a Wave 3 , if this is indeed the correct count, which of course, remains to be seen ... IMO it's likely to test support at 320$ soon, and a dead cat bounce to follow, then test 275$. I have checked the current market movements against those of October - November 2011, when a crippled start of wave 1 resulted in a double bottom at ~2$. And I found that the current market is bearisher than that, so my most probable scenario is that we are still in wave C.
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Sometimes, if it looks too bullish, it's actually bearish
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phoenix1
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December 09, 2014, 01:43:31 PM |
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IMO it's likely to test support at 320$ soon, and a dead cat bounce to follow, then test 275$. I have checked the current market movements against those of October - November 2011, when a crippled start of wave 1 resulted in a double bottom at ~2$. And I found that the current market is bearisher than that, so my most probable scenario is that we are still in wave C.
Yes, that seems like a very likely path if we are indeed now in V of C
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"Before you embark on a journey of revenge, dig two graves" - Confucius (China 551BC-479 BC)
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Afrikoin
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alan watts is all you need
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December 09, 2014, 02:17:16 PM |
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From DanV, this is a much more likely scenario IMO, with the next impulse down to test the lows now unfolding It is what I have been watching for the last weeks and seems to be going exactly according to plan https://www.tradingview.com/x/3h0MJ3jI/I am also expecting this move down to retest lows. RyanDeClem called this move before most people. One more down before up. I guess we'll see.
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