Bitcoin Cash (BCH) Update: Something got extended....this blog explains what. Check it out!
What an amazing run that was for BCH! ALL my rungs in my SELL ladder got trggered and filled! That's a rare event!
Take a look at below chart. EW states that wave 3 can never be the shortest wave amongst the five. My wave labels meet this requirement. While wave 3s are usually the longest and most vigorous, there are extended wave events. Here you see that wave 5 was extended and took prices sky rocketing. These extensions are not rare and at times wave 1 extends. However, usually, waves 1 and 5 are shorter than 3.
If my count is correct, wave a of abc should be about done. The MACD is very oversold, confirming this. So, I can try a quick trade to play the bounce to b....very tempting! Anyone else?
If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
BTC Wallet - 19gHMJc9wi9KkP47wokz8y4cFNgz1kAAUE
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Legal Mumbo Jumbo: This is only my opinion, make of it what you wish.
This is mind-blowing.
Thanks for sharing
B looks done. I am waiting for C then I will get in good.
Good! I traded the b wave and sold for nice profit overnight.
good job! are we still waiting for c wave or have missed some thing? to me it looks like its still wave B
An update will be posted as prices develop further. It could be wave 5 is not done yet! Or an expanded flat.
You're on the right track.
is expanded flat when b wave is higher?
Yes, however, the price has climbed too high for that category. I am waiting and watching.
You're a star!
You've got the magic touch.
Keep sharing such content.
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STOPThat's what I'm looking at over here. I'm so spread out after the burst this morning....ahhhh HELL, I'm not just a trader on the side, I'm also a Gambler on the side....they work well together sometimes. But I left the books for an hour, just read this, and checked it out. Looks like we're already crossing back down to C.
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.
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.
This is remarkable work.
You're so creative!