Before we move on, I want to tell something first. I am not a fan of saying.... "it will go to moon in Feb, Mar, April"...etc. Especially if it baseless, I HATE it.
But this might be interesting :)
My hypothesis is "expire date of margin trade in OTC market is 5th of every month" and HUGE whales or institutions wanted to manipulate market to make profit as much as possible.
If my hypothesis is true, we can leverage it in very useful ways to make profit. I will show you in last part of this posting.
I can say a little about 6th of Feb, cuz it was just starting date
March 5th Some people call it EW wave failure, I agree with it. They HAD to make it lower than $11,788 and HAD to make it as high as possible to make their short betting profitable. So, the price should be around 90% correction of it - you will see the 90%+ correction again and again :)
April 5th Now, Whales wanted to go on a LONG in next month. So, they made it impulse wave by force - 1st wave also 90%+ but less than 100% will be the best to make most profit
May 5th Again, EASY money
June 5th This was quite interesting As you can see, it goes down till end of the month. HOWEVER, whales wanted to keep their short one more month They already closed their position at the end of the month, and made it little bit higher to get MOST profit with shorting So, they keep pushing it down, and finally break down the wedge, go up to 0.90%+ correction, make a downside impulse wave.
understand it?
Ok than, how we can leverage it?
Just keep looking price from end of June to 5th of July
If it follows like this...
#1. Just short it at 90% correction
#2 Just long it at 90% correction
Yeah even if my hypothesis is true, you might miss the final bottom (or top) But don`t worry you can get into RIGHT position with lowest risk :)
Hi, thanks for your chart and sharing your ideas, nice charting. I have the same count as my alternate count. My preferred count is an impulse to the downside following a completed triangle. Good luck trading.
Weekly with link to full thread and recent updates:
Weekly with link to full thread and recent updates:
Daily preferred count:
Daily alternate count:
4HR Chart: