The bears did it

After one of the mentioned in the last post levels was breached, as promised we are publishing an update.

Unfortunately the bears (who finally spoiled the full moon party) did it right before the writer of this post was planning to go sleep.

Please, bear (cmon, how many times will I have to use this word?) with us and let us publish an extended update tomorrow.

For now the basic Elliott Waves count goes like this:

ShortTerm-Bear-1

If the decline stops somewhere around the current level and will bounce back to 0.019-0.01950 level, it will further support this count. Namely the 5 waves decline from 0.02270.

If the decline, however, will continue below 0.01650, well, we have some ideas about it too.

Tomorrow we will publish more.

For now the moon party is postponed, let’s see how long are bears here to stay.

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.
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Author: Ravno_108

Sentiment wave rider. Product creator. Yogi

One thought on “The bears did it”

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