Bitcoin Cash (BCH) Update: A Complex Combination Nearing the Terminal End?
The correction always evolves and the analyst only attempt to identify the terminal ends and not the exact direction of every wiggle, twist and turn. Why the terminal end? Because these are the most ideal and most opportune times to make laddered entries. The below chart shows five waves up and these are subwaves of a higher degree wave 1. The subsequent correction's subwaves compose that of a higher degree wave 2. IF the terminal end of this wave 2 is zoned; a laddered entry could be quite profitable given that wave 3 follows wave 2. Attempting to precision hit every twist and turn of a correction is not possible nor advisable. Just the terminal end zone is needed, IMHO.
See how now the corection has morphed into a complex combination correction type. The blue WXYXZ show tha the final Z wave is potentially a symmetrical triangle which makes it a combination. The subwaves of the W, X, Y display the required abc three and overlapping waves. So, based on this WXYXZ count, does it appear to be at the terminal end? Would a laddered entry make sense?
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Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
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