APPC has run up and now in the C wave of a correction on the 4 hr chart. THe C wave may be finishing up, or may run further down toward the .382 line. Once this C wave is completed, The positive momentum will continue toward previous high. I expect another ABC correction at previous high, before starting another run toward an ATH.
Trade active
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Order cancelled
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Looks like APPC wants to fall further than expected.
hey mate, I had a similar count, but subwave 4 appears to have entered subwave 1 territory.
I'm completely lost on this count (doesn't wave 4 entering wave 1 invalidate the count?)
Cheers bud.
T17Heathen
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@kitkat16, I figured that there was a possibility of it descending closer to the .382, and planned on extending my C wave once it hit support. But, I expected volume to return once BTC made it's run, and did not expect it to reach the .382 line. If BTC stabilizes, I think APPC, and a lot of the other coins, will line back up in their projections. I'll update when it looks the market "normalizes" itself.
kitkat16
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@T17Heathen, no problem thanks for the reply. Makes sense.
kitkat16
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@T17Heathen, PS any thoughts on the subwave 4 entering suibwave 1? I'm newish to elliot waves but I thought that was a golden/unbreakable rule?
T17Heathen
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@kitkat16, The long wicks on wave 1 are the issue. If you draw out wave 1 using the candle body top, wave 4 will come close, but not overlap. I prefer using candle bodies rather than wicks for measuring. Sometimes, I will move my wave more into the wick, only to keep it from blocking my view of the candle. It get distracting to me when it blocks the candle body.
kitkat16
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@T17Heathen, yeah I spoke to a mate who said similar. He said use the line chart instead of candles to confirm.
You are 100% right.
Thanks again. Will stay in touch regarding this coin. I wonder if we'll have an extended wave 3 or 5 on this badboy.
T17Heathen
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@kitkat16, Thank you for the confirmation. I'm still in the learning stages myself, so this is greatly appreciated.
I'm completely lost on this count (doesn't wave 4 entering wave 1 invalidate the count?)
Cheers bud.