Any Elliot wave experts out there that can critique my charting for DBC?
I'm not sure if the ABC correction is over and we are starting a new wave 1 up or if we have only completed the A wave of the correction and are now in the B wave up.
My assumption is we are in the B wave of the correction as cryptos usually take a long time to correct.
TA is snake oil you mother fucking IDIOTS stop posting this absolute garbage
Turn the chart upside down.
Thanks, anyone with proper advice?
>Didn't get what he wanted to hear
Sorry you sold your DBC at loss.
No still holding, deciding whether to sell at top of wave b
You may as well read tea leaves you absolute mong
If there was evidence that it works I would read tea leaves
M8, whales control this coin, you can't rationalise it.
...
lol why didn't you count this?
LOL faget
People find pattern in literally everything
I'm applying Elliot Wave Theory, wave 3 can't be the shortest wave.
Possibly.
I have excellent results with other coins using Elliot Waves but DBC is a very new coin and I'm not sure if they behave differently so close to their starting point.
I did know that the wave 5 I charted was the top though.
shill me on the pattern?
1 thru 5
You're a retard third wave cannot be the shortest
Basically 5 waves up.
3 cant be the shortest, bottom of 4 can't go lower than top of wave 1.
After 5 waves up there is a correction usually in an A,B,C pattern (3 waves down with the B wave going up) or a triangle pattern A,B,C,D,E (5 waves) which is very common in cryptos.
This pattern repeats over an over in increasingly larger scales until the whole cycle is done.
These retards don't understand Elliot wave. Your impulse waves look accurate, user. But your abc is way too extended. The abc retracement is generally as long as the fifth impulse wave, time wise. We may be in an extended push to d and then a brief retrace on a e wave. But this is a good buy zone.
Note that this is only due to the high volume. That's why this wave pattern is so visible and tradable imo. Good find. Textbook impulse waves here. Flat 2 wave and contrasting sharp 4 wave. Good pattern backed by volume. I'm going to move a few thousand in. Appreciate you.
not bad
I've read John Murphy's Technical Analysis of the financial markets, and I'm decent at most parts of TA, but Elliot Wave was only really briefly touched on.
Any good books/resources to learn more about EWT?
Thanks for the reply.
> The abc retracement is generally as long as the fifth impulse wave, time wise.
If you look at the first set of waves up marked in small, green numbers, the A,B,C correction took about 60% of the time it spent on the waves going up. This is why I have the A,B,C forecast so extended, it might be slightly exaggerated as I drew it quickly.
So you think the A,B,C correction is already done and we are on a new impulse wave 1 up already? Seems a bit quick but again I don't have much experience with brand new coins.
Check out Haejin on steemit. He's got some good video tutorials, the rest is just practice.
I am thinking we'll see another retracement to 2700. From there I think the disney partnership starting to be shilled on reddit and soon, here will perfectly coincide with the natural 1 wave coming.
Elliot wave principle by Prechter and Frost.
OK thanks for your insight, appreciate it.
>another retracement to 2700
Thanks for the opp to nerd out. Good luck with your trades.
Thanks boys