We are at the interesting point.

Somehow it’s a bit strange that we were again right in our call in the last post. Who doesn’t like it to be right, yes? But the truth is that no one can be right all the time. The financial markets are too complex and volatile, means changing often and fast. It’s easy to get stuck to the idea of the market which isn’t correct anymore. We hope we will be able to recognise the changes on time and adjust our Elliott Waves count as fast as possible when these changes take place.

For the moment the bear structure continued as expected. Let us repost the second and the most probable (as we assumed yesterday) Elliott Wave pattern from our last analysis:

MidTerm-Bullish-2
Enter a caption

Today we try to answer the second part of the question: “how long bears will stay in control?”. As we can see from the price action as of now:

IsItFinishedStructure-1

ETHBTC indeed went slightly below 0.024 and recovered up to 0.02590.

We would like the structure more, if ETHBTC would make one more low (that’s why you see the wave 4 up and then again decline in the wave 5). It is not required, however. The look and feel of decline as of now is already good to consider it to be completed. If, however, we do rise a bit up from the current level and then go down to slightly below 0.02350, make sure not to turn bearish. If even the temptation is strong.

Better to turn bullish. With a SL below 0.02040

We want to see more structure to develop before we post the next analysis, so that our call is purely based on the Elliott Waves patterns. Could take one more day, then we will post update tomorrow. Or could take a bit longer, then we will come online on Saturday.

Take care and use the analytic (this or any other) to define your best Risk/Reward strategy.

The Elliott Wave Principle describes the behaviour of the financial markets. This Principle is build on the mass psychology swings from pessimism to optimism and back in a natural sequence. When these swings happen, the specific Elliott wave patterns in price movements are created and become visible. Each pattern has implications regarding the position of the market within its overall progression, past, present and future.
The purpose of our blog posts is to outline the progress of markets in terms of the Elliott Wave Principle.
While a course of conduct regarding investments can be formulated from such application of the Wave Principle, at no time will my posts make specific recommendations for any specific person, and at no time may a reader or viewer be justified in inferring that any such advice is intended.
Very important. Investing carries risk of losses. You should be aware of all the risks associated with investing/trading financial instruments. Information provided in this blog is expressed in good faith, but it is not guaranteed.
The market service that never makes mistakes does not exist. Long-term success trading or investing in the markets demands recognition of the fact that error and uncertainty are part of any effort to assess future probabilities.
This blog and the information provided here should not be relied upon as a substitute for extensive independent research before making your investment decisions.
In no event will we be liable for any loss or damage on your account in connection with the use of our publications.
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Author: Ravno_108

Sentiment wave rider. Product creator. Yogi

3 thoughts on “We are at the interesting point.”

  1. Thanks — have been following the daily thread at r/ethtrader and very much appreciate that you share your thoughts with us!

    Like

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