OKCOIN:BTCUSD1W   Bitcoin / Dollar Forward 1 Week
160 0
This is the same EW stydy but now with candlesticks ...

Traders Mindset

To think in probabilities, you have to create a mental framework or mindset that is consistent with the underlying principles of a probabilistic environment.
A probabilistic mindset pertaining to trading consists of five fundamental truths.

1) Anything can happen.
2) You do not need to know what is going to happen next in order to make money.
3) There is a random distribution between wins and losses for any given set of variables that define an edge.
4) An edge is nothing more than an indication of a higher probability of one thing happening over another.
5) every moment in the market is unique.

Om Sri Satoshi Ji Namah
Apr 13
Comment: Wave 4 has invalidated the count.

3 Cardinal Rules of the Elliott Wave Theory

Rule Number 1: Wave 3 can NEVER be the shortest impulse wave
Rule Number 2: Wave 2 can NEVER go beyond the start of Wave 1
Rule Number 3: Wave 4 can NEVER cross in the same price area as Wave 1
Apr 13
Comment: But this is actually not wave 4 as wave 5($1144.72) is a truncated wave as it has not passed wave 3.

The ABC correction has finished and a new count has started..
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