SUMMARY
As a Technical Analyst, the most ideal time to buy is almost always at the terminal end of a correction of an intermediate or primary degree of trend. This means Elliott Waves that run in a time frame of weeks to months. So, let's look at Vipshop Holdings (VIPS) which could be showing a correction about to end. The initial five wave impulse (white) shows a classical EW trend. The resulting correction was a complex sequence of WXYXZ (red) which has completed and price has broken out. Now what?
The circled white impulse waves show a distinct five waves complete. The resulting correction is patterning out a downward wedge which should breakout to the upside. The circled fives are subwaves of a higher degree of trend purple wave 1. The wedge is purple wave 2 and this wave 2 is likely at its terminal end. Purple wave 3 is next. MACD could decline moderately before swing up.
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
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
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From yesterday it went higher :-)
hi, haejin. thanks for good infomation!
It is good to read some recommendations of when to buy or even sell our coins, little by little I have been learning about those graphics
wow this post already 130 upvote..... very nice good job bro
Wow... I love this, it's offers me a great information I've been longing to get... Thanks @haejin
I am a korean person interested in bit coin Thanks for the good info.
GAZUA~AAA ^^
According to me everyday is the best time to buy
I look at you guys and admire. I do not understand anything in these charts. I'm going on the instruments)) as pilots say the aircraft in the fog))
@haejin I will learn a little by little from you, you are my great teacher
Hi Haejin - would it be possible for you to comment on the long term BTC log chart. I can't decide where it is in wave 2?