SUMMARY
The below wedge chart is looking more and more primary on the shorter degree of trend. I've labeled abcd as being complete and e is likley next to perhaps $8,989 or so. Bear in mind, that not every triangle needs to display abcde; four are also not that uncommon. In other words, price can breakout at d and not complete the e wave.
The wedge fits well into a 0.618 Fib correction following a five wave impulse up (white).
IF the wedge pattern completes and confirms, I've added the likely impulse waves and instead of using a cooky cutter Fib chart, I use native Fib zones; a secret sauce of mine. This pathway provides how the needed higher high can be attained. IF $12,527 is hit, the Inverted Head & Shoulders could also be considered confirmed! Let's see how the overnight price action plays out.
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
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Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
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Now you DO harm me @haejin, by keeping the sauce secret :)
I'm testing the superguppy tool now, it looks fancy if anything.
Try the Vegas Wave, it's also worth googling it - on tradingview, enter it into the search, otherwise unfindable - the Madrid is cluttering up my screen too much, I don't find more than 5 MAs very useful and the Madrid ends at 90 where I would have hoped for a 200.
As to secret sauce, TA works because everybody is minding th levels. Meaning, the more know them, the more they get respected, and the more they are likely to hold. Not reasonable ?
I like haejin but I've seen him go from sheer Elliott Wave to triangles ("I don't use Fibonacci"), then to Fibs, and the rest - wondering when he will find out about the Gann square ;)
Tried and it is signalling clearly the trend, but not shorter term. Being built for 1 hour chart 3-4 days to wait for a clear signal is too slow for me.
The guppy seem to give earlier signals in several degrees, but need some time to understand them fully before I make it of permanent use or drop it.
The Vegas Wave is just 3 boring MA's but the guppy reminds me of the aquarium I had in the young days :)
I wouldn't be steeming had it not been for Haejin and his explainations of EW. My goal was understanding EW and then I go to the best in that area.
You have to adapt it, I always change the inputs-and I can enter what I like for the three waves while for the other one I can't . Then again this is about the seventh time that I'm trying to use MAs and for short term I really prefer Bollinger bands.
I don't get more out of BB than when things are going to happen, not what.
Wich Madrid have you tried? I've never looked at them.
The superguppy contains MA from 3 to 200, and a couple alerts.
I use the one from JustUncleL in tradingview.
I'll try that one tomorrow... the bb must be used in conjunction with the trend, there will always be a few hours up and a few down every day... just stay with the ups, and the elliott waves, best at a 15 minutes scale down to even three, maybe one hour max but its not really useful above that.
You can often see exactly when a 12345 starts, the problem, is that you gain very little om such short frames and in choppy market ;)
Its hard work.
I appreciate your explainings.
Daytrading IS hard work indeed. I used BB when trading stocks, but the other tools we had at the stock exchange was crude at most.
Tradingview is really great with all the tools and indicators, most of them new for me.
i hope It will head to more than $14k is less than 4 days lool
I just knew recently that everything is possible in the world of crypto so I can hope and wish as much as I want.
Nice Post Keep it up
$13,900. Remember you read it here. A very precise recommendation.
whered you get it?
Half past human.
Look up @arcanebear and his interview of Clif High
I am willing to sell around 75% of what I bought in BTC.
I bought at around $9400, so $13900 is very good for me, I may sell only 65% to get the initial back, this is the way I am holding. I just get the initial investment back and keep BTC,
Then you have to wait a bit more, because after the wave 5 completes at around $12.5k there is going to be a correction. 4 days are too little.
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Looks like the Rocket to the Moon is spluttering ... but we'll get there. One day... hopefully next month. :-P
Hope to have E complete so I can ladder in....BTFD!!!
Always look forward to your TA and insight Master Haejin! You mentioned that the wedge fits into a .618 fib but I am measuring just under .5 fib for the e wave if completed. I am taking fib from start of impulse wave up to the end of wave 5. Am I missing something?
Thanks!
https://www.coinigy.com/s/i/5a938a443be0f/
I have doubts it seems to just be going down.... yes it has some ups put mostly it’s been going down over all, I hope it goes back up but it just seems to staircase down. Please help me to see the upward trend!!!! I am starting to think it will hit at lest 2,000 before it will hit any wear near 15 or 20 thousand again.
Mmmm...secret sauce. That's some tasty TA once again @haejin! Appreciate ya!
Do you want to married with me? I love you😘💐
Good job, everyone is waiting for your masterpiece
Thank you @haejin
Wow brilliant money post very successful and fantastic work in steemit life I like your work and I follow u
Thanks bro! Can you update Electroneum...Big Mobile conference tomorrow!
@haejin, if this pattern completes and confirms, the potential impulse waves you drew would be considered wave 1 of 3?
Thank you for all that you do!
잘보고 갑니다^^
Thank you for posting.
Very valuable post....bitcoin is world famous coin....
Oh, My God！
well job. i am waiting for your masterpiece.
@haejin if this wedge happens would RS still be valid eventhough it would be alot bigger than LS?
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A secret sauce where wave 3 is shorter than wave 1 then, if we consider the look of the impulse on your chart...?
Or is it that the next impulse you're mentioning is wave 5 of a higher degree? And current correction would be wave 4? If so you should mention it on your chart. Otherwise, something's weird on it.
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Great call on the ABCDE waves (I didn't see it). PROPS! Looks like we've penetrated out of the wedge, and it is now serving as support for the uptrend.
Great analysis. I made one too that maybe is interesting for you.
Crypto to 1 trillion!
could this instead be a 4 wave down to a 5 wave? instead of abcde correction phase?
Hey @haejin made you a new Steemit banner... (your current one is a little sore on the eye) hope you love it friend! :)