myselfbtc

EW:alternative count

MTGOX:BTCUSD   Bitcoin / U.S. Dollar
194 8 0
what if this is the "correct count"
JimFred PRO
3 years ago
What is your reason for not calling (1) at 65 the end of wave 3, and the rise to 104, wave 4? That is my count. I am trying to determine your reasoning so that I can judge if your count is better than mine. According to my count wave 5 down just began. 5 waves down from here, if wave 5 ~= wave 1, will being us ~ 50. According to this count, wave 3 has not even ended yet. If this correct btc will likely go to below 40. You can view my count at :
Wave 5 is extending.  The forecasted bottom is ~ 64, ~ 7/5/13

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myselfbtc JimFred
3 years ago
"What is your reason for not calling (1) at 65 the end of wave 3, and the rise to 104, wave 4?" each time you have a overlap in waves you need to go on a subwave
here is a example chart about how sub wave works
snapshot
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myselfbtc myselfbtc
3 years ago
damn i miss places 1 and 2 in a hurry and place them at start instead of end ffs
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myselfbtc myselfbtc
3 years ago
fixed version
snapshot
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RyNinDaCleM JimFred
3 years ago
A rule in Elliot wave theory says that wave-4 must not enter the price territory of wave-1, so you get a sub-wave
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JimFred PRO
3 years ago
I see. (Please forgive my comments, I am only trying to help us BOTH get the right count.) The point you have labeled wave 1 beaks down to 3 waves, not 5. This suggests it is a wave A, B or C, not a 1. Don't you think so? IMHO this is a 5-3-5 correction, with the sharp move to 50 being the 1st 5, then the 3 waves of the ABC are the points you have labeled B, 1, 2. Then the next 5 waves down began from the point you have labeled 2.

That would suggest that wave 4 of 5 just ended at 104.

I mean no disrespect. I am thrilled to find another wave counter I can bounce ideas off of!! As we both know, it is important that we have the right count, or we will make a mistake. And it is so easy to make a mistake....
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myselfbtc JimFred
3 years ago
i took ur chart and remix it a a little i hope you dont mind
a reply  to Wave 5 is extending. The forecasted bottom is ~ 64,
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JimFred PRO myselfbtc
3 years ago
No problem, I appreciate the give and take. Happy trading!
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