mlavtrading

mlavtrading Updated 

EthUsd has just finished a massive extension and ending diag. There will be blood.

mlavtrading

Counter trend trading crypto markets can be very dangerous and i don't recommend it unless you find major confluence. We are approaching a HTF channel's median line , the 1:1 APP of 5 from 0-3 as well as the .618 (log) and .5(arith) retracement levels from the 364 high. Trade Safe!

mlavtrading

Eth finishing the 5th of the 5th of the 5th.

mlavtrading

X waves are notoriously called suckers waves so be careful. I'm leaning bullish as those log curve charts are saying we basically bottomed. Either way, we can trade both options. Looking for a rejection around 10k-10.2k ( median line of the parallel channel) for shorts. Should we blow through or consolidate i'd assume that meant we were in an extended 5th in which...

mlavtrading

We all know what happens after an ending diag after extensions.....

mlavtrading Updated 

Everyone has been labeling this WXY with W flat, however, X did NOT retrace ~90 % which is a strong guideline in double combos. Therefore, relabeling it ABC with an A flat works better within the Elliott Wave rule set.

mlavtrading

After evaluating and making multiple possible counts myself, this is my final one which seems most probable at this point in time. I myself have posted WXY w/ flat counts, ABC with flat counts and WXY with triangles. Well here's my final conclusion. Elliott Wave Theory has specific rules and guidelines, ones which if we don't follow, we may as well just start...

mlavtrading

Primary bull count for now with trade idea.

mlavtrading

Primary bear count/trade idea