BITSTAMP:BTCUSD   Bitcoin / Dollar
191 2 2
possible triangle for the x wave. just a guess
johnrfraser
2 years ago
I have a triangle on the 60 minute chart...looking to break down at the moment I think.
I'm not clear yet how these fit into the bigger EW picture.
Does the triangle replace the larger pink abc that I'd marked complete?
Do I continue to expect the purple impulse (that I've marked 'in progress) to occur after the triangle?
Does the triangle replace the pink abc as well as the first leg of the purple impulse?
I'm not sure how to incorporate it...your advice would be greatly appreciated.
Thanks a lot use100000!
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user100000 johnrfraser
2 years ago
that's fine, but you have to be more precise on where exactly wave 3 ends. wave 3 must not be part of the triangle. you should start counting where wave 3 ends. that will be the start of wave 4 price action

if you think it's a triangle you should try to label it using a,b,c,d,e. your method of seperating the labels from actual market price action is quite difficult to follow and a bit confusing for myself

a triangle is a correction so it will not replace parts of impulse waves. they are two seperate things

your purple impulse will occur after the wave 4 corrective action is done. that is correct. i believe it's a little too early for wave 4 to end. it should consume a little more time and fill up the channel with some sideways action
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