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RE: Bitcoin Cash (BCH) Update: Something got extended....this blog explains what. Check it out!

in #bitcoin7 years ago (edited)

This is a good exaple that it is very hard to label each wave in the real time. You never know if it is a start of abc correction, or we are still in the uptrend. As situation develops wave 5 can be in fact still wave 3. I mean you can label the waves no sooner things has happened. For me EW is just a tool, that makes it easier to control emotnions. As a theory, it sucks. Come on. Now it costs 900 and I can see here clearly seven waves, and that is enough to say theory is not working well. There too much space for interpretations. And probably every one will a see diferent number. That's another argument.

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You are absolutely right! I acknowledge that my TA method is not perfect but my profits have leaned towards 88% win rate. I only look at my net liq at end of week or month and it grows and grows.

I know I did not catch all the profits for BCH and I wish others who are riding this MASSIVE profits.

However, if you have a method that would allow me to gain 95% or higher win rate, I would like to be a student. Please share.

Thanks for the read.

I agree that EW is quite good tool and it can give you profits when it is combined with some other indicators. This is of course practical and profitable approach. Congrats on your win rate. Just wanted to mention that imho from other point of view the theory fails to explain the reality. It's just a model and reality is much more complex.

Well researched.

I'm speechless.

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