BITSTAMP:BTCUSD   Bitcoin / Dollar
211 14 1
price action converging. it looks like a contracting leading diagonal for the first wave of 3
Vatis
2 years ago
You drew head & shoulders. Shouln't it go down afterwards?
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user100000 Vatis
2 years ago
it wasn't intentional. im just showing three wave structure (abc) remaining to complete the diagonal. wave 2 is the "down" wave. could be shallow or deep. i don't know
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My alternate count is now my primary count.


BTC - Triangle Breakout Ahead
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user100000 Unapologetic_Capitalist
2 years ago
ew rules do not allow triangles for wave 2
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Unapologetic_Capitalist PRO user100000
2 years ago
You are correct. I mislabeled but fixed it. My wave 1 (of 5) should have been labeled as a XYZ combo (with Z as the triangle). Same prognosis though...bearish.

BTC - Triangle Breakout Ahead [updated labels]
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Unapologetic_Capitalist PRO Unapologetic_Capitalist
2 years ago
But to be honest, not sure if the triangle is "Z" or an X before another combo.
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user100000 Unapologetic_Capitalist
2 years ago
wave 1 in general are impulsive waves composed of 5 waves or leading diagonal. im not sure i can follow your method of labeling
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Unapologetic_Capitalist PRO user100000
2 years ago
I tried to use the original wave labeling devised by Mr. Elliot, but used brackets instead of circles.

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Unapologetic_Capitalist PRO Unapologetic_Capitalist
2 years ago
http://elliottwavepredictions.com/degree-of-trend-color-codes/attachment/rnes-degrees-of-trend-labels-3/
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Unapologetic_Capitalist PRO user100000
2 years ago
I was trying a different labeling system but it was pretty bad.

I cleaned it up so now you should be able to follow it.

snapshot
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user100000 Unapologetic_Capitalist
2 years ago
ah, that is much easier to read. where are your 1,2,3,4... labels? wave 1 is impulsive and those are the main labels one should use to label the sub waves. also, wave 1 should atleast "channel" well. WXY are for corrections (such as wave 2, wave 4) so im unsure how to follow your method
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Unapologetic_Capitalist PRO user100000
2 years ago
Thanks for feedback.

I went through my notes and your feedback, and relabeled accordingly. Additionally, I explained my waves more clearly in my newest description and also included my primary, alternate and failure forecasts.

BTC-CNY - Triangle (x2) Breakout?
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user100000 Unapologetic_Capitalist
2 years ago
your w wave seem out of proption to your x,y. xy seem super tiny compared... thats just my impression (not same degree). good luck with your overly complex correction
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Unapologetic_Capitalist PRO user100000
2 years ago
Thanks for the feedback. I think we'll know for certain the correct count in the coming days.
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