Back to Elliott Waves

Never in his imagination could the author see what kind of “waves of surprises” is coming to us. Talking about it few weeks and then to get this…

That’s the strange and amazing aspect of Yoga. It gives the practitioner  a special “feeling” that something is going to happen. But you rarely know what exactly will it be. Possible to get the exact answers? Well, unlikely. We are all actors in a huge play. The author has a role of a writer (among other roles) and this role assumes that he is here to give the readers something interesting to read. And some ideas for how to use it in their trading, if they wish to do so. Not more. But also not less.

Just a short general notice on Ethereum in general. The author hopes that we as a community will find a way how to address two important aspects:

  • software had, has and will always have some kind of bugs
  • there will be always people trying to exploit these bugs to their advantage

If we don’t find a way how to solve these issues, there is no use for Ethereum. But the author is optimistic. There is always a solution to any problem. Let us see which one will manifest itself in the near future.

In the moment the fear and absence of buying power is quite clear. Normally the author would consider it as a clear buy signal, even without looking too much into the charts. However, we do look into the charts. And they don’t show 5 waves up on any time scale. Which is a clear warning signals for every Elliott Waves practitioner. But let us take a closer look.

First, let’s examine the current chart and Elliott Waves for ETHBTC in general:ETHBTCShortTerm

What do we see on the chart above? There are clear three waves moves between the red lines. It does look like a triangle. And the move down before (green ellipse) is also quite clear variation of a three waves move.

What can it mean?

Option 1:ETHBTCShortTermBullishin this case we are finishing the complex correction and the last part is triangle. The start of big rise is expected.

Option 2:ETHBTCShortTermBearishin this case we will have one more leg down and it will be sharp one.

In any case, the thrust out of the triangle is always a sharp move. As soon as we see one, we could tell more about the next steps.

As a side note, it’s not only DAO which crashed and died. Also the Mac, with the help of which these charts are made, is giving the signs of the nearing death. So it could happen that the next 4-5 days there will simple be no way to publish nice updates with beautiful charts. So bear with the author if only the text posts will be published the next few times.

Take care.

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.

Author: Ravno_108

Sentiment wave rider. Product creator. Yogi

10 thoughts on “Back to Elliott Waves”

  1. welcome back ravno. funny post today though “it’ll either go up or down” haha 🙂

    indeed, the next moves from here will give us a much better indicator to play with. the same kind of fear and lack of movement in bitcoin isn’t helping either.

    the unexpected dao hack made me lose more money than i’ve ever lost before (i thought we were so well positioned to shoot above .03 once more) but it’s time to learn from mistakes and move on.

    i agree we might not see many beautiful waves for a bit.. quite sad. but i do enjoy your posts and believe you are an excellent practitioner of elliott waves so please keep posting your thoughts. i think you are quite more adept at trading corrections than many, many others and believe i have a lot to learn from you.



    1. Thanks for your nice words, Jake.
      I’m also not enjoying at all the current situation. My basic rule is that I always keep around 50 % in ETH. I did close the rest almost at top. But these 50 %.. Well, interesting feeling anyway =)

      And I will keep posting. As long as there are people like you who are enjoying it.



  2. Thanks Ravno, me too I am F5-ing all day. About the next move — do I remember correctly that regardless it will burst up or down, it is likely it will retrace to the origin of the triangle? (I remember that from previous posts where we had an upward breakout)


    1. Quick follow up question: today’s pull-back looks like the first ‘serious’ correction since the advance from $400. Would it be typical for btc to continue the advance or is it exhausted? (I’m not much into btc, so I can’t really assess sentiment). Thanks!


    2. Generally yes. However two points:
      1. The triangle was 70% probable. I didn’t post an alternate count, where we had leading diagonal from the bottom (with failed 5-th Wave). If that is what is playing now, than the whole picture is quite different.
      2. Break from triangles indeed very often retraced. Can be that the retracement is also very swift. In our current market situation very likely to have swift moves. Will you be able to close in time your counter-trend Position?

      I will try to post update later today. Looks like the rise in ETH will continue.


      1. Thanks — more watching now and not changing positions; was expecting a further drop in ethbtc but seems it wants to go up


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