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BTCUSD - Elliott Wave Count -Wave 5 Alternative Count is Dead We are in Wave IV folks, it's not done yet. Here I will document the death of the imposter, the usurper, the Alternative Count has crashed and burned. Some have told a story, but the data exposed them as heretics, liars, fakes and frauds. They profess to offer wave counts, but they do not offer Elliott Wave Counts. For in Elliott Wave Counts, there are guidelines and rules, hard, immutable rules. One of those is that a wave 4, may not intrude upon or overlap into the space of a wave 1 of the same degree. Some have claimed that Wave IV ended back on July 16-17 at the 1830 level, and the sprint to 2938 marked the start of Wave V, a new bull market phase for Bitcoin. The run up to the top looked pretty compelling. It could be counted in a solid motive or impulse fashion. No overlaps or intrusions. The post high correction even counted pretty well. An A-B-C down to the 2400 level. This is where the false prophets of wave counts put a stake in the ground and declared correction, wave 2 was complete! Onward and upward!! And they got what the wanted, sort of. An upward wave started and completed at the 2825 level. The problem is it only included 3 upward waves, not 5, and then began a serious correction. The correction that would establish wave 4. A correction that proved fatal. In the count above, which contains 3 degrees of waves, the lowest is a plain digit, the second is a digit inside parenthesis, and the third degree uses lower case Roman numerals, i for 1, ii for 2, and iii for 3. After the correction to establish wave 4 had completed, a "double 3" that counted as A-B-C - X - A-B-C, it was possible to determine the level of wave 4. Only then, by examining the up move that preceded it, could a determination be made. Was wave 5 underway, and the Alternative Count valid? Like a forensic examiner, I carefully examined the up move, using very detailed 15 minute and even 5 minute charts. The best count I could come up with is above. I even tried to make it work by counting inside out. Make it a 5 wave move up, somehow. Nope. Push wave i downward. Nope, no luck. Wave 4 stuck its spear cleanly into the heart of the imposter, the usurper, the Fake Wave 5, by intruding into the only place wave 1 & wave 2 could reasonable be placed. I will soon return to update the Wave IV count. Long Live Wave IV, the rightful heir to the throne. One of the 3 scenarios I laid out is playing out. Can you guess which one?
BITSTAMP:BTCUSD
by RogueDave
13
Possible LONG with Bearish Cypher confirmation entry pointIt seems Starbucks is continuing it's uptrend price action (Daily Chart) with a possible LONG entry based on a Bearish Cypher pattern formation if it becomes validated on the Hourly chart, to complete a Wave C correction/consolidation. Chart pattern suggests a high probability trade going LONG on this in continuation of uptrend, based on an Impulse Wave 1 completion on the Intermediate period. ---------------------------------------------------------------------------------------------------------------------------------------------------------- DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar. This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk. Plan your trade and trade your plan... and IF in doubt, stay out. .....::::: If you like this chart, please click on the THUMBS UP ! :::::..... ----------------------------------------------------------------------------------------------------------------------------------------------------------
NASDAQ:SBUXLong
by UnknownUnicorn661419