chessnut

BTCCNY EW Analysis - wave b triangle

HUOBI:BTCCNY   Bitcoin / Chinese Yuan
466 3 5
Following some nice expected impulses towards 1300 in the BTCCNY             pair, a reaction is taking the place of wave (ii) of iii             (very bearish ) or wave (iv) of iii             of an ending diagonal (less bearish ) as wave b within this reaction. Triangles are in the form of 3-3-3-3-3 in a contracting range. They occur in position of wave b or iv, meaning as a strong guideline they are terminal moves, preceding important reversals within the local trend. This triangle has nice form, and if it resolves as expected it will be a powerful tool in trading this market at this point in time.
chessnut is one of the best
+1 Reply
Your analyses have been spot-on lately, good job / thanks for sharing
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well done :agree:
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