Since i try to test ermanometry on many instruments only one test satisfy me fast full. Weekly chart of BTCUSD. Erman wrote in his book, that only daily should be used (as the highest timeframe used) but since February 2018 in case of BTC weekly chart is more accurate to get intresting turning points. The lower timeframe (i tried to test even 1h) the more mistakes we get. If You have some questions to the chart above, feel free simply to ask me;)
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Intresting thing is that after CFD for BTC are tradeable (since december 2017) not long after that this ermanometry waving has started to work. It has not worked well, when i have analysed it before that time mark (december 2017). Sooo is my little conspiracy theory, maybe true maybe not. Time will tell.
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Ina case of ripple there is one huge turning week (13-19 August candle). It is probably first time on weekly chart of Ripple when ermanometry have showed power.
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XEMUSD. Turning week 20-26 August.
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BCH is somewhat "retarted" in that case:
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Ethereum 13-19 August
Is this unbreakable? I dont guarantee that. That can guarantee market makers (representatives of commercial and banking beliefs)
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Verge:
One candle of mistake, but dip was made, as we can see.
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Komodo - one week to early, but dip is visible.
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Zclassic - very early dip
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Zclassic situation 2- in this case one week later local dip was made:
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And now two possible ways (just like Bitcoin have)
First bearish (retest of last dip with Stop Losses clearing)
Hi Ormin, thanks for all your insightful comments. Please keep us updated on your buying and selling activities!
orminlange
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@cryptohumanity, Thx, of course i will publish my entries if they will occur;)
cryptohumanity
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Hi Ormin, are you bearish or bullish for the near term and what are your targets? I'm having trouble reading your chart :)
orminlange
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Hi:) I know that it is hard, because ermanometry is not simple as it looks. First i must choose which high and low is important, after that i draw triangle composed from this important high and lows. Next is caclulation (there is special formula for that) and effect of this calculation is (in the past) arrow (on my chart in color the same as triangle) . This arrow shows target candle (high or low point of this candle) where ermanometry calculation were 100% accurate, and shortterm trend has changed after that point. And now i have two vertical lines (one is 17.09 and the second is 8.10). They are calculated as future turning points( weeks) from triangles in the same colours as this lines). And now am i bearish or bullish. I am confused and this confusion is from Elliot Wave Theory and astrology. Elliot Wave Theory has few possibilities one bearish and one strong bullish. For me sign of bearish scenario will be break trough 5800-6000 support. For ow looks like trend has changed for bullish, but it can be still correction, and after that resuming of downtrend is still possible. But this are only possibilities, not full prediction - it is not possible to predict with 100% acuracy in this market, even if we have ermanometry and few other technick behind in mind.
orminlange
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Personally i choose to not get here long position on spikes that looks like FOMOs. If i will see on chart corrective structure of this upmove, i will describe it here for sure, but without this structure i stay aside of Bitcoin. I have rebuyed only some XEMs @ 10cents but this was from my other rule - if i sold much XEMs around 1,5$ it is worth now to rebuy this instrument for such low price - that is the fundamental reason. Other huge cryptos (from first 20 in cmc) i treat now just like Bitcoin - i stay aside.
orminlange
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From Elliot Wave Theory:
Bearish scenario:
orminlange
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And bullish:
In this case 6000 must be not broken. And target in this case can be 10000, 20000 and even some more. But this are only possibilities, and market makers can only draw this for real;)
orminlange
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Bearish scenario with ermanometry turning lines:
orminlange
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and bullish one:
There are plenty other possibilities of course. The one rule is - all is possible, there are no impossible things in speculative markets;)
orminlange
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In my heart i really choose of course full bull scenario, and hope for this pattern to be drawed by BTCUSD (just like in case of XEMUSD)