Critical Levels - EW analysis

[Fakhoury]

We have returned to the triangle of IV wave territory which I have been waiting for. This abc is probably the first wave of a triangle wave (IV)

minimum tgt 3800 for triangle, wave (V) tgt is 4k + regardless.

Tracking the triangle.... I would expect around 3900, 3800 minimum, and then 62% retrace.

Thank you my friend, chessnut, quality TA as usual

After the 62% retrace, we will head towards 4000+ CNY, am I right ?

[podyx]

The west is leading, how confident are you in that triangle?

Maybe china just needs to wake up

[chessnut]

Thank you my friend, chessnut, quality TA as usual

After the 62% retrace, we will head towards 4000+ CNY, am I right ?

yup, should be.

The west is leading, how confident are you in that triangle?

Maybe china just needs to wake up

doesnt have to be triangle, but it makes a lot of sense.

[chessnut]

It seems like we have completed the wave B of a triangle. look for a deep retrace.

[Fakhoury]

It seems like we have completed the wave B of a triangle. look for a deep retrace.

The 62% brother, right ?

[podyx]

What would be the target on bitstamp? Around $545?

[Afrikoin]

good call Chessnuut

[sandiman]

BTC following Wickoff stock analysis very closely!

[chessnut]

BTC following Wickoff stock analysis very closely!

its an EW thread please.

It seems like we have completed the wave B of a triangle. look for a deep retrace.

The 62% brother, right ?

Yes, at this time it is down 38% on a clear abc... meaning that a deep retrace must be some sort of combination.... could be a bit disorderly. if we pass 3880 now then Im a but confused. Longs growing on Okcoin are a good indication that we will decline though.

62% and deer would mean a target of around 3630.

good call Chessnuut

thanks.

[Fakhoury]

It seems like we have completed the wave B of a triangle. look for a deep retrace.

The 62% brother, right ?

Yes, at this time it is down 38% on a clear abc... meaning that a deep retrace must be some sort of combination.... could be a bit disorderly. if we pass 3880 now then Im a but confused. Longs growing on Okcoin are a good indication that we will decline though.

62% and deer would mean a target of around 3630.

Perfect my brother, so after that we will have a small rocket launch to 4000+ CNY.

What do you see after that in medium term brother ?

Thank you as always my friend.

[RyNinDaCleM]

BTC following Wickoff stock analysis very closely!

its an EW thread please.

I think that is a very crude version of a wave theory. More of an observation that the market moves in waves. No labeling so no consistent expectations and no actual targeting function.

[chessnut]

BTC following Wickoff stock analysis very closely!

its an EW thread please.

I think that is a very crude version of a wave theory. More of an observation that the market moves in waves. No labeling so no consistent expectations and no actual targeting function.

I guess it could be so, but in that case he has said enough 

[Fakhoury]

BTC following Wickoff stock analysis very closely!

its an EW thread please.

I think that is a very crude version of a wave theory. More of an observation that the market moves in waves. No labeling so no consistent expectations and no actual targeting function.

I guess it could be so, but in that case he has said enough 

Waiting to hear from you buddy

[chessnut]

Perfect my brother, so after that we will have a small rocket launch to 4000+ CNY.

What do you see after that in medium term brother ?

Thank you as always my friend.

if it is a triangle, yes.

[sandiman]

BTC following Wickoff stock analysis very closely!

its an EW thread please.

I think that is a very crude version of a wave theory. More of an observation that the market moves in waves. No labeling so no consistent expectations and no actual targeting function.

Following that theory, P&F was used by Wickoff (he used to do so highlighting the "cause" and then aiming for the "effect".). In this case, price pattern according to Wickoff should see around 50% retracement (I haven't add a look to the P&F chart, will do so tomorow, so now I am just speaking about Wickoff price patterns expected by the theory without looking at the actual chart for more precision. Anyway, still holding until I am confident on my trading skill).

Anyway, let's not get off topic since this topic is amazing ! taking off ma hat to chessnut!

[Luthier]

It looks like the triangle is a good bet for China though the West may make more of a zig-zag. 
Was about 4700 what you had in mind for "4k +"?  That seems like the next target and the minimum reasonable top for this whole rally (about $715).

[chessnut]

It looks like the triangle is a good bet for China though the West may make more of a zig-zag.  
Was about 4700 what you had in mind for "4k +"?  That seems like the next target and the minimum reasonable top for this whole rally (about $715).

The west was playing catch u the whole time... wave B over extended.... we still call it a triangle, but a running triangle. it will look funny, so I just watch chinese charts.

I would be expecting a fifth wave, it could go apeshit, it could fail. 4700 is not a significant number to me.

[Luthier]

He said NOT 

[Fakhoury]

He said NOT 

Oh yes, just saw this now and deleted the comment.

Thanks mate.

[sidhujag]

There's been hidden  selling btc and hidden buying eth from what I've been seeing... candlesticks on huobi are bearish so I do agree a retrace is likely and could put us back a bit on btc.

Not ew but I've been trading a long time take it for what it is that's my contribution thanks.