Critical Levels - EW analysis

[chessnut]

Looks like wave i is complete and wave iii is leaving the station. I am long already but I would say it is a good idea to look to buy now any significant retrace, stop under 2200.

[chessnut]

this is a good area and time to start accumulating a long. Price may consolidate in this area for some time, or carry on trending soon.

[chessnut]

a great buy opportunity is approaching.

[chessnut]

This is a pin point trade.

[chessnut]

This is a pin point trade.

Time to go long. Stamp is showing a VERY attractive count, I of C. this is not to be missed out on.

[chessnut]

Short term target for III of C is 2450. thats 1.618x wave I. I would not necessarily sell here without better reason than a fib extension, and certainly would not short. we are targeting 450.

[Queeq]

As far as I see, in your latest chart wave 1 of i intersects with wave 4.

[chessnut]

As far as I see, in your latest chart wave 1 of i intersects with wave 4.

I believe if you see the chinese charts that is explained by a failure fifth wave, in fact I should have used only the chinse charts to show this as they are much clearer.

[chessnut]

if we pass through 2260 that is bearish. this could be a stoploss level.

[chessnut]

We might see this play out roughly. Targets not confirmed yet. We are looking to turn medium term bearish in the top of this area n the coming days.

[windjc]

We might see this play out roughly. Targets not confirmed yet. We are looking to turn medium term bearish in the top of this area n the coming days.

I agree with your targets. Meanwhile MasterLuc has gone full bull in his thread. Said he's post again when we are at $500. lol

[chessnut]

I agree with your targets. Meanwhile MasterLuc has gone full bull in his thread. Said he's post again when we are at $500. lol

meh, not much point in targets here. Ill short the top when I see it, the wave form is clear.

[btc6000]

Did you short on the 11th, as you advised:

OK. seems like b wave has terminated cerca 0.618 of a. a stop above the local top, 370, is an excellent risk reward opportunity for shorts. target 330.

[windjc]

I agree with your targets. Meanwhile MasterLuc has gone full bull in his thread. Said he's post again when we are at $500. lol

meh, not much point in targets here. Ill short the top when I see it, the wave form is clear.

So if you dont have a target, what are you watching for in a local top?

[chessnut]

I agree with your targets. Meanwhile MasterLuc has gone full bull in his thread. Said he's post again when we are at $500. lol

meh, not much point in targets here. Ill short the top when I see it, the wave form is clear.

So if you dont have a target, what are you watching for in a local top?

Using the complete EW count. I dont know the magnitude of iii or iv yet, so I dont have enough info to forecast profit targets. Ill use trendlines on the me medium scale to break and confirm deceleration and then look into all fractals on the smaller time scales.

[chessnut]

We just topped out wave III of C so it seems.

[chessnut]

buying above and close to 390 is a good bet before wave v comes. don't become attached to this position.

[chessnut]

a chinese chart for interest sake.

[chessnut]

The current wave to the upside is not behaving very impulsive. watch out if you are long!

[chessnut]

There is a chance that this is a failure wave V, but its too early to say for sure. it could also be wave b of an extended wave IV.