You're welcome nerds. Now go to bed and get ready to buy the dip

It would be very interesting if things like fractals and fib ratios actually play some innate role in what markets do.

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Just for you fagboy

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>ONE TOO TREE FORE FVIE...
>AYYY YBEEEE SEEEE
>ONE TOO TREE FORE FVIE...
>AYYY YBEEEE SEEEE
>ONE TOO TREE FORE FVIE...
>AYYY YBEEEE SEEEE

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There is no market. There are only groups of competing whales with algorithmic fib targets.

ABC is the reason that I sold at the tip top and you bought my bags. Stay poor.

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what do you think will be the top of wave 4?
83? 85? or 88?

forgot the pic

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Wave 2 retraced an almost perfect .618, so i'm stacking shorts starting at 8400-8600. .382-.5

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It's really just too easy sometimes guys.

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Looks like the top is in. There's your target assuming that B hits the .5

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elliot waves is a meme just like 99% of TA.

you can still trade profitably by using it, but you can't predict shit, sorry to burst your bubble

stay poor. Its not about predicting, its about preparing

Elliot waves is just a way to map possible scenarios. Nobody knows who will win the whale fight, I just hop on board when a clear winner is chosen, or when they're on the same page- like they re right now.

so now you think 8250 was B and it'll retrace down. the problem here is that the price may actually go up do 8500 and then dump below 8250. in that case the elliot waves meme still holds but your current prediction isn't

where is you bullish scenario then?

> its not about predicting its just about predicting
the freshest tafag cope of all

8250 was the top of the A wave. Jesus dude, the books are free, just read em. And this is the bullish scenario. We're in the last leg of a healthy correction.

i meant A, but good job and dodging my point.

>this is the bullish scenario
the pic in the OP isn't bullish

So are you a hodler or do you just randomly buy dips all the way down? Drop the shitty mindsets and put some effort into learning something useful. I've been making a living trading in my underwear for the last 10 years. TA works. I'm sorry that you likely suck at it like the other 95% of traders that lose money.

See

and what if 7700 was the start of wave A? where is that scenario?
in the above case you can simply move your 2 to 7700, and while elliot waves would hold your prediction would go down the drain

I literally can't make this any simpler for you.

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the bottom could be at A. it could bounce off 1.it could go straight from A to C.
your "predictions" are completely useless famalam

here's some meme TA that actually works without you having to second guess the memelines

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Who cares if I'm wrong? The fib never lies and I'll always make 10x more than I lose.

Ichi won't give you a buy signal during very short-term uptrends, but it's dope for swing trading.

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dude fibonacci lines lmao

>The fib never lies
kek

>I'll always make 10x
also kek, but good for you if you have a solid trading plan. autistis listening to you on Veeky Forums will only lose money tho

Ive also been working long hours with my TA with the colaboration of some highly esteemed collegues.
Fell free to review

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Right? I don't know why whales love em. They just do.

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>drawing only the 3 right projections on a chart where 100 others would be wrong
sad

you still keen on around 8.4-8.6k for opening up a short

how do you even get your sell order at the right fib line?

Do I have to project every 1-2 extension on the chart for you to open an elliot wave book? You're a lost cause, but I'm glad, because I need people like you to keep losing money so that I can keep making it.

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you don't. fib works "100%" of the time because you could draw as many fib lines as you like in any directions, starting at any time.

>peak at 1
>peak at 2.618
>peak at 0.786
yeah, it was obvious from the start that you have to sell there...

how can i learn TA to be like you?

Depends on market sentiment and which swing high/low the algorithms are using as pivots. It's hard to explain, but if you check out Tradedevil on he does a good job of explaining it. The general rule is that A Waves and C waves share a relationship of either 1:1 1:.618 or 1:1.618, depending on whether it's a zigzag, truncated or extended respectively. In impulses, Wave 1 is usually the same length as 3, and the entire structure is 1.618 of wave 1, depending on which wave is extended.

It's obvious if you pick up an elliot wave book, which gives you a perfect explanation of when to use each fib extension level. Dumbass. Keep hodling.

Are we still waiting for 8400 to short?

>Keep hodling.
i'll keep riding the waves instead of gambling on tops/bottoms

Still waiting on you to sell us that free ebook.

OP Your last leg is wrong

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RSI divergence on 1 hr time frame so either 8200 or 8500 for short entry (tenken and kijun on ichimoku/20EMA and 50EMA)

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Yup. Stop loss is at 8850 in case we get a diagonal/wave failure.

Good luck

Might be, I drew it that way because of what seems to be solid fib relationships.

This guy gets it.

i've done tons of backtesting with ichimoku, and it works orders of magnitude best on 30m resolution

I use Elliot Wave Principles by A.J Frost and Robert Prechter as a reference. It's short, simple and all over the internet for free.

I used to trade Ichis on the 30 minute too. Pretty much my favorite strat when I'm lazy and it's a bull alt market.

Thanks bro. Why are you helping us btw?

>selling the bottom of a channel
How retarded are some of you?

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Elliot waves is quite literally biggest POS Ive ever seen in my entire life. RSI, MACD and candlestick price action is ok to an extent...but EWs? Jesus fcking christ...

>We should now finish wave 3 and go 15% up
>Whale suddenly dumps 2k BTC
>Aaaand we're going down

Kek

>implying it won't plummet to sub 5k

>Thinking it wont go down because imaginary line says so

So what do you suggest?

that you should wait for a breakout if you trust the memelines

Thank you, fine lad. You are a true gentleman and a scholar. I'll read the book. 118 pages is nothing.

OP what is your tradingview username?

Or that one time in December when there was a clear head&shoulders pattern but the whales decided to pump even higher.

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Np. Mostly because I'm tired of seeing wojacks during every dip, and I'm tired of the banks fucking everyone, even in crypto- which was made to oppose them. If you learn to see what the algos are doing, then you can start to plan and increase your odds. Of course you'll be wrong a lot, since the whales are fighting and all, but you'll win a lot more than you lose.

I;m a day trader. I'll go long on a bull wick through the channel bottom.

Elliot waves are for modeling scenarios so you can always have a gameplan. Fib extensions are for tracking algos. If you treat elliot waves like they're a be all end all prediction strat then you're gonna lose money. The counts are subjective, that's why you have more than one of them. It lets you plan ahead.

No problem, good luck.

I never post on tradingview. Folks don't understand risk/reward/stop losses. And folks don't understand that there are giant groups of whales all competing for your coins, and that you have to adjust to what they're actually doing, not what you THINK they're doing. Trading view faggots just want targets, ignore risk/reward and bitch at you if they lose money. Dumbass entitled community that I don't want to be a part of.

The trick to trading head and shoulders is to confirm it with volume and an elliot wave count. this one wasn't too bad, but I don't bother swing trading them. Other indicators/patterns are a lot better.

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It's because i want to come in contact people that also like TA, so that we can learn from eachother. im not looking for targets but knowledge

Check out tradedevil, philakone, eric choe and the chart guys. Great teaching material on all of their channels. All good guys and and all successful traders.

thanks for the info op
we're all gonna make it. atleast if we put some effort into understanding the info given to us we will. bless ya

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>mfw turbo autists try to predict the most manipulated market on the planet by drawing memelines

so 8440.
Higher timeframes beat lower time frames though and 1hr has div as well as 30min. 2hr does not. So I will stick with 1hr in this case

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elliot wave theory triggers me

>tfw you short 30 BTC and refuse to use TA

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if you simply trade kumo twists, 30m is like 10x times more profitable then 1h, probably because 90% of people use it as timeframe

np. Keep in mind that if the bull whales win we could double bottom at 7650 or hit a psychological support at a round 7k. Keep all the scenarios in mind, stick to your stop loss, and confirm your buy in with first heavy sell to shake out the last of the weak hands, followed by heavy buy volume.

Me too, but it works because it's an efficient way for whales to accumulate before they pump. And it's nice for modeling.

>mfw it works

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those are the people who manipulate it tho

It's lining up nicely so far doods. We'll see what happens once we bounce.

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>anyone successful is a manipulator

I started in this space in Jan. absorbed as much info as i could, took some losses, mostly went into alts, got fucked. then last week figured out how to use mex. i've had a short open from 87 since yesterday, was going to take profit at 77 but never. so now i'm just waiting

Good stuff. You're braver than me. I never trade with leverage, shit's too uncertain and there's too many tricks that they use to get you liquidated. Throwovers, false volume, fake liquidity etc etc.

>top 25 on the biggest btc exchange aren't manipulators

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use stop losses. I've never been liquidated

Eliot Waves and TA in general sucks in crypto for two reasons

1) big whales have much bigger influence then in any other market
2) manipulation is rampant
3) liquidity DOES NOT EXIST
4) soneone fan fat finger 5m $ worth of BTC and push price 10% down

>he never experienced stop hunting
i won't use hard stop losses ever again after my last etc trades on bitfinex

>5mil
btc volume billions

I counter with youtube.com/watch?v=SM9EldMV3Tw&list=PL5brTFluwn1ml_KAT2Caiv3dN5XV1MNRy . You just have to know what you're doing.. or be asian. or both.

you mean daily volume. 5m is enough to eat through a buywall/sellwall in off-hours

yep. got fucked at 50x and a one off 100x
10x is quite safe if you catch a trend near the bottom or top. i'm on 25x atm

TradeDevil is awesome

Can you do ETH/USD pretty please ?

it's literally the same as btcusd but more volatile

Yup, I agree. it's gonna follow btc until we stabilize.

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Its mostly wash trading (90% on Japanese exchanges).

Short now or wait until it comes up a little more?

You cannot counter 10k BTC dumps. I see these Elliot guys on twitter wrong so many times they might as well read from cards/stars.

>abcd inside abcd
user...