Because it is becoming a bit complex to count I decided to make a proposal because I just woke up and saw a triangle forming which can simplify the possibilities if it plays as a such.
The count I had since this corrective move had begun changed at least 5 times. It was a possible running triangle wave4, then it became too big to be a wave4 so it became more possible to be a complex wave2.
Then it was a question of WXY and what is the Y, then we got another little break up which invalidated it and I am now seeing this very possible little triangle which is the key to solving the mystery.
As Elliotticians know, a trinagle move in Elliott wave terms can only be a wave4, a waveB or one of both waveY or waveZ depending if it is a WXY or WXYXZ. It can only be in the last corrective move, so if there is a Z it will be in the Z.
Im not sure I explain it clear enough but I hope you get the point.
So opening it up, I don't think we can argue with the WXY because it is complex enough.
That waveB in the Y is a bit funky and can be argued but measured on 3min fibs it is a perfect expanded flat which I will go with.
Another low probability point comes at waveC of the second X which has an extended fifth and the third is a little choppy on a 15m chart but I think this also passes.
So the real questions comes after that A of the waveZ. It is a clear three wave sequence so there are only two possibilities.
- 1. It finishes with a diagonal down
- 2. It is a triangle.
Since I don't see it breaking another low because this will become choppy even for a diag, I guess it is a triangle. Either way we are very close to resolvoing and going at way higher prices.
So for a trade setup for who wants to play it. If it doesn't break the low of A of the triangle and it makes a pivot just now for a C - you can long it with a stop below the C.
If you are not too leveraged you can go long with a stop below the A of the triangle.
If it breaks downward I would not play it because it is going to be a diag and we have to wait a bit more (speaking 15m charts)
If anyone saw my last idea it was a to the tick play on 8h and Im levered long from 7600 and Im not planning to close this until 100k$ or wherever is the end of the next macro sequence so Im not worried if it breaks down.
If it breaks and this count is totally invalid there is a target at 8500.
While Im writing this the price took swing to the downside but still didn't break the A which is 9183 at Bitmex. If it breaks, this goes invalid.
Good luck, hope I helped.
IMPORTANT! This setup is my own chart.
THIS IS NOT FINANCIAL ADVICE!
First this is what I can come up with.
Second there are other counts that can play still valid.
Third No matter if Im wrong or right, TRADING IS A MATTER OF PROBABILITIES. WE GET STOPPED 4-5 TIMES OUT OF 10.
Sometimes you are wrong, sometimes you are right. Winning is discipline taking little losses and winning big when you get it right.
Sometimes low percentage probabilities happen and really often we get the count wrong.
I read a lot of hate to traders publishing so I wanted to say this. Don't rush labeling someone. We are here to help.
Good luck!
The count I had since this corrective move had begun changed at least 5 times. It was a possible running triangle wave4, then it became too big to be a wave4 so it became more possible to be a complex wave2.
Then it was a question of WXY and what is the Y, then we got another little break up which invalidated it and I am now seeing this very possible little triangle which is the key to solving the mystery.
As Elliotticians know, a trinagle move in Elliott wave terms can only be a wave4, a waveB or one of both waveY or waveZ depending if it is a WXY or WXYXZ. It can only be in the last corrective move, so if there is a Z it will be in the Z.
Im not sure I explain it clear enough but I hope you get the point.
So opening it up, I don't think we can argue with the WXY because it is complex enough.
That waveB in the Y is a bit funky and can be argued but measured on 3min fibs it is a perfect expanded flat which I will go with.
Another low probability point comes at waveC of the second X which has an extended fifth and the third is a little choppy on a 15m chart but I think this also passes.
So the real questions comes after that A of the waveZ. It is a clear three wave sequence so there are only two possibilities.
- 1. It finishes with a diagonal down
- 2. It is a triangle.
Since I don't see it breaking another low because this will become choppy even for a diag, I guess it is a triangle. Either way we are very close to resolvoing and going at way higher prices.
So for a trade setup for who wants to play it. If it doesn't break the low of A of the triangle and it makes a pivot just now for a C - you can long it with a stop below the C.
If you are not too leveraged you can go long with a stop below the A of the triangle.
If it breaks downward I would not play it because it is going to be a diag and we have to wait a bit more (speaking 15m charts)
If anyone saw my last idea it was a to the tick play on 8h and Im levered long from 7600 and Im not planning to close this until 100k$ or wherever is the end of the next macro sequence so Im not worried if it breaks down.
While Im writing this the price took swing to the downside but still didn't break the A which is 9183 at Bitmex. If it breaks, this goes invalid.
Good luck, hope I helped.
IMPORTANT! This setup is my own chart.
THIS IS NOT FINANCIAL ADVICE!
First this is what I can come up with.
Second there are other counts that can play still valid.
Third No matter if Im wrong or right, TRADING IS A MATTER OF PROBABILITIES. WE GET STOPPED 4-5 TIMES OUT OF 10.
Sometimes you are wrong, sometimes you are right. Winning is discipline taking little losses and winning big when you get it right.
Sometimes low percentage probabilities happen and really often we get the count wrong.
I read a lot of hate to traders publishing so I wanted to say this. Don't rush labeling someone. We are here to help.
Good luck!
Comment:
Invalidated, broke the low.
