Short-term waves. 19.05. Part 1

The author has a feeling that many of the readers here would like to get more often updates.

So here comes the experiment.

The attempt will be made now to post few updates a day, giving the short-term Elliott Waves analysis.

As these waves could change relatively fast, you could either ignore the posts with the titles like “Short-term waves…” (in case you interested in a bigger picture). Or if you want to get them on time, you can also subscribe to the blog so that the notification will be send when the new update is published.

The usual updates with bigger picture will also come and they will have more creative subject names =)

Ok, let’s start.

ETHBTC-ShortTerm

From the top yesterday we have failed a-b-c correction down (it means wave “c” couldn’t manage to go lower then the previous wave “a”) and then what looks like at the moment as another a-b-c move up. Three waves down, then three waves up, as the next should come what? 5 waves down to complete the Flat. However, in order to give this pattern more credibility, we need to go below 0.02930 first. By the way, as a side note, this failure is a perfection in itself, it shows how bullish and unpatient the market became now.

The move up can, however, also morph into the full 5 waves.

Which way the market choose we will talk in a few hours.

Stay tuned.

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 “Short-term waves. 19.05. Part 1”

  1. Thanks — great idea to look at ETH between yoga sessions! 🙂
    It looks like more solid Coinbase rumors are fueling the rise.

    Like

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