Due to the fact that price was in delay mode, I did not find much value in posting, and I mentioned that I would wait for further price confirmation. So, we have reached my range for $.17-$.19 cents (it could still drop to $.17), and this is where we will begin to see how the market will end this long and overdue correction. Will price reverse higher from this...
So far the fractal remains in tact! As you can see, price needs to conquer the descending (pink) trend line, in order to continue it's course! I believe if price can conquer the descending trend line, there will be a powerful bullish move, and it looks like it could occur the week of Christmas! Regards!
I have (2) primary counts, this is the more immediate, bearish option! I will wait for further confirmation before posting the other option. Complex corrections are extremely difficult to count from an Elliott Wave perspective, especially since there are simply too many combinations, and most people give up trying to apply waves due to the difficulty! I believe...
My take on the DOW... Fibonacci and channels paint quite the picture, eh?
First, before you jump on here lecturing me about Elliott Waves and counting, you should know that I am NOT counting this in true Elliott Wave form! But rather, I am using a 5 wave counting system, in order to display, how each structure is broken down, and how each structure compares to one another. From a previous chart which compares XRP's price during the 2017...
Question: What do you get when you put (10) Ellioticians in a room together and show 'em a fresh chart? Answer: You get (10) different Elliot wave counts! And the best part is, they'll spend the rest of the time arguing why their count is correct! LOL! Well, this is my count, and you can see that the channeling and throw over channel are certainly playing a part...
This is NOT financial advice, but rather, just one guy's opinion...
Well, we have our answer...Poloniex pattern wins! Although the new has been established, I'm still not overly bearish since there is a strong case of divergence building on several indicators. Cheers!
Well, as bearish as it was today, surprisingly XRP did NOT put in a new low!!! I realize it's almost TOAST, but nonetheless, here it is. Also interesting, Wave 3 is shorter than wave 1 (as I see it), which means the final wave 5 of C of 2 cannot be longer than wave 3, or it's not a valid count!!! I placed the values on/under each wave. Remember what I said about...
I've posted this fractal pattern previously, and I wanted to update it with some targets in mind. Typically the pattern has been, a large retracement occurs, which then forms a triangle pattern, and then another deeper retracement occurs, thus by measuring the initial high to the lowest part of the triangle, then using that percentage and applying to the deeper...
This chart and count is still in play, and the RSI is started to call "BS" on these lows! Very small, but important clue here! Now, this doesn't mean XRP can't experience another low, it just means that the RSI is started to 'turn' before price! Unfortunately, when I created this chart, I did NOT illustrate the .786 better, and it left the impression that the low...
As I've mentioned, the lower price targets are VERY REAL!!! For me, XRP is on the cusp of breaking down, BUT from my chart the other day, price did manage to remain above the .786 retracement....for how long, we shall see! Bitcoin is currently below a major area of support (7900), and is in trouble as well! I would expect the next major area of support to be...
After reviewing a potential wave count, I believe it's possible for one more 'sneaky' low to occur, without the "Mother of all Collapses" to happen! Don't get me wrong, the lower targets are more than valid, and it could be violent to the downside (the BIG FLUSH!), but I believe this is where it pays to be nimble...not too bullish, not too bearish! If your bias is...
If you've been following along, then you know that we are comparing current price action, to a fractal pattern from November 2017. And, we have been using Bitfinex vs. Poloniex. In this chart, for no particular reason, I am using Bitstamp, and I am comparing a 12 Hour chart (2017) vs. a 2 day chart (2019). As I compare the two patterns, I have noticed that there...
Okay, for those unaware, I have been contemplating the pattern between Bitfinex and Poloniex. So, I want you to see the Poloniex version for yourself. Keep in mind, bottoming patterns can get real "whippy", they have a way of throwing traders off and second guessing! Stay calm, and remember, you're buying an asset that is well worth more than $.25 or even $.19,...
Last chart! To those that follow me, here is a warning! As you know, I have posted this support line for a while now, and you can see why it's so crucial! For every Bullish outlook, there is always a bearish potential lurking!!! Good Luck, let's see if it holds!