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RE: STEEM Update: Bullish or Bearish? Take a look at my analysis.
Hi Haejin!
Do you want to tell us why did you choose 4 USD as the top? How did you deduce this?
If you have the time, it would be much appreciated!
Hi @echinox, one thing I learnt very quickly about @haejin is there is never a top, calculate your profits you're happy with and exit out. He has mentioned 4 USD and if the market hits 4 USD then happy profits, if it hits 3 USD again happy profits.
Ladder in your buys and sells and move to the next one!
I'm totally new to this, I've lost every time I thought I can guess the top, trick is keep increasing your profits, and before you know it, you'll be on top for every trade!
Also keep an eye out for @scarlet7 - very very helpful, especially when Haejin can't answer every question.
Nice post! I also use Wave v to profit but usually of highe order so if v is sub Wave v of 5, I use Wave 5 to take profits. But it's up to you to make your own variation.
Steem Update:
https://steemit.com/bitcoin/@haejin/steem-update-what-s-changed
I can assure you this, it's not a guess....well I mean it is...but it's a very educated guess. He keeps things pretty simple on the charts. They can be pretty busy if you include all the angles and variations of possibilities. Although more directly to your question, he did say he would make a blog post about that to help people understand a little bit at some point.
I was proud of myself for getting this one right today, and I imagine it takes him much less time to deduce these data points than it takes me.
So here's a fractal pattern I noticed this morning with DGB at around 530am. So I went ahead and made my best count on the wave and tried to work in the fractal pattern that has been emerging in many coins....low and behold.....(right click and view to see full size)
And so with that information I was working off of, I also saw that it was very likely to fill in a Head and Shoulders pattern, and it all sort of made sense once I had it drawn out. I'll be darned, it hit exactly on every break and line. Crazy patterns.
Probably measuring with the Fibonacci extension tool.
Probably doesn't need it. I didn't, and I'm a rookie in comparison.
Yes, and rule of distances for waves.
Steem Update:
https://steemit.com/bitcoin/@haejin/steem-update-what-s-changed
He doesn't reply to any questions. That is too bad, he could build a much better following with a little interaction. I've been upvoting 1$ almost every post, should I continue? If someone votes me up and comments I always give the respect to at least reply and upvote their stuff.
Sorry for delay. I've posted responses above.
Thanks for the upvotes.
Steem Update, please use only to augment your due diligence.
https://steemit.com/bitcoin/@haejin/steem-update-what-s-changed
I use both Fib ratio and the fact that impulse is usually 0.75 to 1.5 of bottom of c to top of v
Steem Update:
https://steemit.com/bitcoin/@haejin/steem-update-what-s-changed