BitcoinMis à jour BTCUSD : bullish prob mid term move scenario 18/10/17
Hi guys,
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To follow up on the short term scenario here ;
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I still expect an almost full retracement as indicators promote this idea :
Im not fully ready to name it major 1-2 since I think the retracement didnt fully completed
heres is typical wave 2 retracement :
Wave 2 is typically 50%, 61.8%, 76.4%, or 85.4% of wave 1
This retracement would match the 1H charts indicators and 4H charts indicators :
This is my only remaining question in my head. Is the retracment ended there of this ABC link to a major ABC like I project :
______________
But the first resistance we might encounter, at 7.4k, correlate with typical wave 3-4-5 fibonacci ratio *IF* these 1-5 micro wave are considered 1-2 :
It will be fun for all of us that this may happen, but we must first see where the retracement stop before making any statement of major waves.
_________________
Educationnal :
Here is a description of a wave 3 :
Wave 3: In Elliott Wave Theory, wave three is usually the largest and most powerful wave in a trend (although some research suggests that in commodity markets, wave five is the largest). The news is now positive and fundamental analysts start to raise earnings estimates. Prices rise quickly, corrections are short-lived and shallow. Anyone looking to “get in on a pullback” will likely miss the boat. As wave three starts, the news is probably still bearish, and most market players remain negative; but by wave three’s midpoint, “the crowd” will often join the new bullish trend. Wave three often extends wave one by a ratio of 1.618:1
Wave 3 rally picks up steam and takes the top of Wave 1. As soon as the Wave 1 high is exceeded, the stops are taken out. Depending on the number of stops, gaps are left open. Gaps are a good indication of a Wave 3 in progress. After taking the stops out, the Wave 3 rally has caught the attention of traders.
______________
________________
To follow up on the short term scenario here ;
_______________
I still expect an almost full retracement as indicators promote this idea :
Im not fully ready to name it major 1-2 since I think the retracement didnt fully completed
heres is typical wave 2 retracement :
Wave 2 is typically 50%, 61.8%, 76.4%, or 85.4% of wave 1
This retracement would match the 1H charts indicators and 4H charts indicators :
This is my only remaining question in my head. Is the retracment ended there of this ABC link to a major ABC like I project :
______________
But the first resistance we might encounter, at 7.4k, correlate with typical wave 3-4-5 fibonacci ratio *IF* these 1-5 micro wave are considered 1-2 :
It will be fun for all of us that this may happen, but we must first see where the retracement stop before making any statement of major waves.
_________________
Educationnal :
Here is a description of a wave 3 :
Wave 3: In Elliott Wave Theory, wave three is usually the largest and most powerful wave in a trend (although some research suggests that in commodity markets, wave five is the largest). The news is now positive and fundamental analysts start to raise earnings estimates. Prices rise quickly, corrections are short-lived and shallow. Anyone looking to “get in on a pullback” will likely miss the boat. As wave three starts, the news is probably still bearish, and most market players remain negative; but by wave three’s midpoint, “the crowd” will often join the new bullish trend. Wave three often extends wave one by a ratio of 1.618:1
Wave 3 rally picks up steam and takes the top of Wave 1. As soon as the Wave 1 high is exceeded, the stops are taken out. Depending on the number of stops, gaps are left open. Gaps are a good indication of a Wave 3 in progress. After taking the stops out, the Wave 3 rally has caught the attention of traders.
______________
Trade fermée: ordre d’arrêt atteint
closing this one :The first ABC.
Report to new post for the new apttern
Trade fermée: cible de profit atteinte
target reached i menat (
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.