Waves Update: Keep an eye out for five waves and then abc correction

haejin (88)in #bitcoin • 8 years ago

I had blogged the below last week about Waves:

https://steemit.com/bitcoin/@haejin/waves-btc-analysis-a-different-look-but-same-direction-as-waves-usd

Here is the current status is Waves/USD:

Now, waves i,ii,ii are complete with wave iv nearly complete and that leaves v to go. EW rule states that every five wave impulse will have an abc correction in the opposite direction and this abc often goes as low as the prior wave iv. See the abc (red) and the red lines.

Here is the update on Waves/BTC:

Basically, wave ii has gone deeper but the count is still valid. Wave 2s can retrace as much as 90% of wave 1s. What would invalidate this count? If wave ii goes lower than start of wave i.

I prefer to use the Waves/USD chart.

I wish you all massive profits!
Kind Regards, @haejin

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