SUMMARY
Just because a price pattern is a triangle doesn't necessarily mean there has to be five waves (abcde). I've shown in prior blog posts how there can be only four waves. This means that a breakout can occur at wave D without completing to wave E. The below chart of Ethereum (ETH) shows exactly how that occurs. Its breakout from wave D signals the completion of wave 4 and the start of wave 5.
The subwaves of white wave (5) is labeled in blue. IF this is correct, then $588 would be a likely target. What happens after that? Well, Elliott Waves states that after a five wave move, there is a requisite correction; so, likely a minor abc or some other combination type of correction will take place.
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
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Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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Great report but I still feel ETH needs to break below $300 before going above $600 and then then to $1000 by mid May.
Let's do some maths. April 2017 ETH $50, Jun 2017 ETH $400. April 2018 ETH $500. Could Jun 2018 ETH will be $4000?
I think ETH May briefly overtake BTC...but longterm, BTC will remain king. Would love to see your thoughts/analysis on Stellar. Their fundamentals look incredible as they prepare for massive growth. https://steemit.com/cryptocurrency/@workin2005/stellar-xlm-may-be-the-future-of-crypto-as-it-prepares-for-massive-growth
I agree...I think if we finish strong today we have a chance for at least $700 USD short term. Let's get there!
TA always does not work. I agree with you.
Haejin said his daughters like taking the BIG D!!!
As always...
ok sir thanks for info.
great work man. thanks for provide a valuable information. Best of luck. go ahead sir.
Thank you for the information! Buying some ETH to stock up on some Steem Power ~@soccernews
শুধু একটি মূল্য প্যাটার্ন কারণ একটি ত্রিভূজ অগত্যা পাঁচটি তরঙ্গ (abcde) হতে হবে মানে না। আমি আগে ব্লগ পোস্টে দেখিয়েছি যে কিভাবে চারটি ঢেউ থাকতে পারে। এর মানে হল যে তরঙ্গ E সমাপ্ত না হয়ে ওয়েভ ডিতে একটি ব্রেকআউট ঘটতে পারে। ইথেরিয়ামের নীচের চার্ট (ETH) দেখায় যে এটি কীভাবে ঘটে। তরঙ্গ ডি এর ব্রেকআউটটি তরঙ্গ 4 এবং তরঙ্গ 5 এর সমাপ্তির সমাপ্তি।
Im waiting 2000$ on december
Nice...Thanks for sharing...Hope ETH will really massive growth.
I bet your daughters like taking the BIG D!!!